Market News Page No. 378| Africa Business News | Afrotrade

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Sh1.2 Billion Lighting Project Boosts Business in Mombasa

The Mombasa County government and Kenya Power have finished lighting up the town at a cost of Sh1.2 billion in an effort to woo investors and revitalise tourism industry through the Mwangaza Mtaani project. Started in September last year, the street lighting programme, involved upgrading of the electricity network in the coastal town and installation of high mast lights in major streets including public beaches. During the just.... Read more »

Posted on : Tuesday , 5th January 2016

East Africa: AfDB Approves $138m for Rusizi III Hydro Project

The African Development Bank (AfDB) has approved $138 million in loans and grants to finance the Rusizi III hydropower plant project. A statement from the AfDB indicates that the implementation of the project will be carried out at a total cost of $625.19 million. At least $138.88 million will be borne by the AfDB's public sector window and $50.22 million by the private sector window. Rusizi III hydropower plant is part of the.... Read more »

Posted on : Tuesday , 5th January 2016

Nigeria: Ipman Partners UK Firm to Build Two Refineries in Plateau

Jos and Daniel Adugbo, Abuja — The Independent Petroleum Marketers Association of Nigerian (IPMAN) has concluded arrangement with two British oil companies to build two modular refineries in Plateau State. The National Secretary of PMAN, Alhaji Danladi Pasali, who disclosed this to newsmen yesterday in Jos, said the decision was taken following the return of peace and the change in the political and economic atmosphere in the.... Read more »

Posted on : Tuesday , 5th January 2016

Kericho Seeks More Earnings From Pineapples, Sweet Potatoes

Your administration has launched a legal process against Britain for compensation of the Kipsigis and the Talai for their land now under tea. Won't the move disrupt the multi-billion tea sector? This case is not targeting the tea estates and our investors should not worry. We are addressing appalling events that occurred nearly 100 years ago whereby our people were thrown into difficult circumstances when the British took away.... Read more »

Posted on : Tuesday , 5th January 2016

Kenya's Business Community Is Optimistic About the Future

Trade is growing in the entire region, including Kenya. Kenya's GDP is approximated to hit 15% by the turn of the year. With the recent tripartite agreements that our African presidents have signed, markets in South, East, West, and North Africa will begin to harness their energy towards intra-continental trade. This is good news to the region's people as they can benefit from expanded market opportunities. Opening up former.... Read more »

Posted on : Tuesday , 5th January 2016

Africa: WTO Members Secure a Package for Africa

Members of the World Trade Organisation (WTO) concluded their tenth ministerial conference in Nairobi recently by securing an agreement on a series of trade initiatives. The Nairobi package contains a series of six ministerial decisions on agriculture, cotton and issues related to least-developed countries such as Uganda. A centrepiece of the Nairobi package is a ministerial decision on export competition, including a.... Read more »

Posted on : Tuesday , 5th January 2016

Kenya and Uganda plan to build another corridor to boost trade

Kenya and Uganda plan to build another corridor to boost trade between the two East African countries. Uganda National Roads Authority and the Kenya National Highways Authority are seeking funds from the African Development Bank (AfDB) for the project which will traverse Uasin Gishu County and to the west of the boundaries of Eldoret, Trans Nzoia. The proposed road project dubbed multinational Uganda and Kenya: Kapchorwa.... Read more »

Posted on : Tuesday , 5th January 2016

Ethiopia, Egypt, Sudan Announce Consent in Applying GERD Principles

The agreement is a step forward towards finalizing and reaching agreement on the nomination of the two consultancy firms. Ethiopia, Egypt and Sudan announced Tuesday that they have reached consensus to put into practice provisions in the Declaration of Principles regarding the Grand Ethiopian Renaissance Dam (GERD). The three parties have reached an agreement on the consultancy firms which would conduct the technical studies on.... Read more »

Posted on : Monday , 4th January 2016

Foresight Africa 2016: Free trade agreements and the implications for Africa

The launch of Foresight Africa: Top priorities for the continent in 2016 is on the horizon. In anticipation of this year’s report, the Africa Growth Initiative team offers the below preview of one of the major topics covered and encourages you to check out the report when it publishes next week. Much of the world is entering into mega-regional free trade areas (FTAs). Indeed, October 5, 2015 marked the ratification of the.... Read more »

Posted on : Monday , 4th January 2016

Ugandans in Diaspora Asked to Invest More Back at Home

Kampala — Ugandans in the diaspora have been challenged to create private equities and invest in private companies and skills developments instead of keeping their money in banks. Mr James Aguma, the chief financial officer South African Broadcasting Corporation (SABC), while speaking at the 5th annual diaspora business breakfast at the Kampala Serena Hotel on Tuesday, said: "I see so many Ugandans in the diaspora with lots.... Read more »

Posted on : Monday , 4th January 2016

Africa: Building East Africa Information Expressway to Open a New Chapter of China-Africa Cooperation

The Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC) was opened on December 4thwhen President Xi Jinping announced to upgrade China-Africa relationship into a comprehensive strategic cooperative partnership, and said that China is willing to implement ten major cooperation initiatives with the African side in the following three years. Such a portfolio has won high recognition of various participating parties and warm.... Read more »

Posted on : Monday , 4th January 2016

Food Giant, Willowton Group to Set Up U.S.$40 Million Plant in Africa

South African company Willowton Group will spend at least $40 million to set up an integrated fast consumer goods plant in Mutare. The group manufacturers a wide range of products which include edible oils, margarines and spreads, toiletries, laundry and bathing soaps, candles, chocolates, and baking and industrial fats. Some of its popular brands on the local market include Sunfoil cooking oil and D'lite cooking oil. "The.... Read more »

Posted on : Monday , 4th January 2016

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