Market News Page No. 404| Africa Business News | Afrotrade

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Rwanda: Fresh Boost for Renewable Energy Bid

The Climate Investment Funds (CIF), a multilateral climate finance vehicle, has endorsed Rwanda's renewable energy investment plans, making the country eligible to benefit from $50 million (about Rwf37 billion) for renewable energy funding. The funds are provided under the Scaling Up Renewable Energy in Low Income Countries Programme (SREP). SREP funding of $50 million is expected to help develop financially sustainable.... Read more »

Posted on : Monday , 16th November 2015

East Africa Exchange to Lend Grain Farmers U.S.$70 Million

The East Africa Exchange (EAX), a regional commodities exchange warehouse receipt system, is expected to advance over $70 million in credit to smallholder grain farmers who have been starved of funding. The EAX is a subsidiary of Africa Exchange Holdings, Ltd (AFEX), which comprises Heirs Holdings, Berggruen Holdings, 50 Ventures, and Ngali Holdings, a local investment company in Rwanda. It links farmers in East Africa to markets and.... Read more »

Posted on : Monday , 16th November 2015

Algeria-China - Agreement for Construction of Cultural, Entertainment Complex in Algiers

Algiers — An agreement was signed, Thursday, between Algeria and China for the construction of a cultural and entertainment complex for youth in the municipality of Baraki (Algiers). The signing ceremony took place in the presence of the minister of Housing, Urban Planning and the City, Abdelmajid Tebboune, the minister of Youth and Sports El Hadi Ould Ali, the Governor (Wali) of Algiers, Abdelkader Zoukh as well as Chinese.... Read more »

Posted on : Monday , 16th November 2015

IEA Projects Natural Gas Production to Increase 40 Percent by 2040

But as to the sources of growth in electricity markets, coal’s relevance is going to diminish with every year and it’s going to diminish much faster than anyone had been thinking. The world is on track to hit the 1°C milestone this year. He says it’s the first time the IEA has properly acknowledged the rise of renewable energies and the inevitable decline of coal power. Instead, China is passing the baton to India,.... Read more »

Posted on : Monday , 16th November 2015

Sudan to Boost Oil, Gas Production Despite Slumping Crude Prices

Oil-rich South Sudan seceded from what is now the Republic of Sudan in 2011. Khartoum estimates that the loss of the southern oilfield brought oil production volumes down to some 150,000 of barrels a day from a previous half a million barrels per day. “Actually, we are planning to expand, although the prices are going down,” Ambassador Nadir Babiker told RIA Novosti, adding his country imports oil byproducts like gasoline for the.... Read more »

Posted on : Monday , 16th November 2015

Rwanda Signs Mining Contracts With Investor

The government yesterday signed more contracts with mining companies to boost production and exports. The contracts, signed between the Ministry of Natural Resources, Rwanda Development Board (RDB) and the investors, are aimed at bolstering exports by at least 28 per cent, Evode Imena, the state minister in charge of mining, said. RDB granted four mining companies with licences to take charge of six mining blocks in Ngororero District,.... Read more »

Posted on : Monday , 16th November 2015

Tanzania: Seafarers Embark on Deep Waters Gas, Oil Exploration

The move comes after the accomplishment of all legal procedures and fulfillment of sailor’s demands such as health insurance and working contracts to companies that they will be working with. Speaking in Dar es Salaam, the TSC Chairman, Mr Frank Chuma said that they have reached agreement with the government on the fulfillment of important requirements that are needed by seafarers. He said next process shall be signing contracts.... Read more »

Posted on : Monday , 16th November 2015

Local Firms Partner to Sell Made in Rwanda Electronics

Local entrepreneurs and investors in the ICT sector have partnered to form a wholesale distribution outlet of gadgets and electronics manufactured in the country by Positivo BGH. Constituting 15 entrepreneurs, Africa Smart Investment Distributions (ASI-D) will be involved in the distribution of devices produced by the Latin American firm with a presence in Rwanda. The new entity has since been hired by the Government to.... Read more »

Posted on : Friday , 13th November 2015

Zimbabwe: SA, Chinese Companies to Set up Steel Manufacturing and PVC Plants

A LOCAL company, Tradecode Investments says it is close to securing a $20 mln investment from two separate investors for the construction of a steel manufacturing plant as well as a factory to produce PVC ceilings in Chiredzi. The company’s managing director Venancio Kurauone said the investors from South Africa and China will each invest US$10 million in the two plants. “BW Exporters of South Africa is a worldwide.... Read more »

Posted on : Friday , 13th November 2015

Zimbabwe: Indian Billionaire to Invest U.S.$30 Million

Indian billionaire Ravi Jaipuria is set to invest US$30 million in a Pepsi bottling plant in the country, promoters of the project said. Entrepreneur Adam Molai, who is the promoter of the project, told businessdigest this week that Varun Beverages, Ravi's bottling business, would invest US$30 million in the first phase of the project. Molai said the US$30 million would go into the installation of a pet, canning and bottling.... Read more »

Posted on : Friday , 13th November 2015

Wienco to Invest U.S.$5 Million in Cocoa Production

An agronomist at Wienco Liberia Limited (WLL), Eric Asante Antwi, has said that the company is poised to invest US$5m in Liberia's cocoa sector to help boost the production of the crop in the country. Antwi said this amount will be invested in the next couple of years in order to empower cocoa farmers with the requisite fertilizers and other agriculture inputs that would help increase production in the sector. Speaking with.... Read more »

Posted on : Friday , 13th November 2015

Somabhula Farmers Cash in On Hay

"DESPERATE times call for desperate measures" is an adage that A2 farmers in Somabhula, Vungu district, now know quite well after they turned to hay bailing for a living. With most of the country's farms having now virtually turned into grasslands because of very little production taking place on the properties ever since the land reforms in 2000, such an opportunity to turn the abundant grass into money has been most.... Read more »

Posted on : Friday , 13th November 2015

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