Market News Page No. 424| Africa Business News | Afrotrade

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Dar-Kenya trade scales East Africa high

Addressing the Kenya’s National Assembly in the capital, Nairobi, President Kikwete said the growth in trade between the two countries demonstrated how much the two countries’ contribution is critical to the greater EAC integration agenda. “I am told trade between our two countries accounts for over 80 to 90 per cent of trade in the EAC market. This demonstrates in no uncertain terms how much our two countries.... Read more »

Posted on : Thursday , 22nd October 2015

Kenya- Tanzania launch new road to improve Trade connectivity

Presidents Uhuru Kenyatta and his Tanzania counterpart Jakaya Kikwete have heaped praise on the ongoing construction of 90KM Mwatate-Taveta road. The two leaders said the road is in the East African Community programme of the developing missing links along the regional infrastructure corridor. Speaking during the launch of the road, President Kenyatta said he is impressed with the progress being made saying it will.... Read more »

Posted on : Thursday , 22nd October 2015

Kenya is Tanzania�s leading trade partner

Kenya is Tanzania’s leading trade partner in East Africa. This is according to Tanzanian President Jakaya Mrisho Kikwete. During his address to the joint Parliamentary sitting of the National Assembly and the Senate on Tuesday, Kikwete said figures put trade between East African countries at 80 to 90 per cent, with Kenyan investments hitting USD 1.6 billion in 518 projects. Also Read: President Uhuru Kenyatta mourns.... Read more »

Posted on : Thursday , 22nd October 2015

Medical Center in Africa to be reconstructed with improved facilities

The John F. Kennedy Memorial Medical Center in Liberia requires US$181m to reconstruct in a bid to give it original status before civil war erupted in the 1990s, Dr Bernice Dahn the Minister of Health has said. According to Dr Dahn, the ministry of health has been working tirelessly to restore and strengthen the primary health care services in Liberia. She said investing in JFK will go a long way in providing.... Read more »

Posted on : Thursday , 22nd October 2015

European Union boosts road construction in Ethiopia

The European Union (EU) has pledged 540 million Euros to boost road construction in Ethiopia especially in rural areas for the next five years. Mr Antonio Capone who is the infrastructure leader of EU delegation announced that the money will be used to continue what he referred to as “a remarkable expansion of road network in Ethiopia.” The country had 26,000km of roads in 1997 but as of last year it had 100,000km. He observed.... Read more »

Posted on : Thursday , 22nd October 2015

Google eyes share in Lake Turkana wind power construction project in Kenya

Information Technology giant Google has announced that it was buying 12.5 per cent stake in Africa’s largest wind farm that is the Lake Turkana Wind Power construction project in Kenya. The IT firm has agreed to purchase the stake in the wind farm project in Kenya from the project’s third-largest investor Vestas, when it becomes operational in 2018. Google is set to invest US$40,000 in Lake Turkana wind power construction.... Read more »

Posted on : Thursday , 22nd October 2015

Tanzania signs oil pipeline MoU with Uganda

KAMPALA, Uganda – Governments of Tanzania, Uganda, French firm, Total E&P (Uganda) and the Tanzania Petroleum Development Corporation (TPDC) have signed a Memorandum of Understanding for a crude oil export pipeline framework writes SAM OKWAKOL. “If we can be able to get a least cost pipeline route to the East African coast, our crude oil will be exported cheaply,’’ Dr Fred Kabagambe-Kaliisa, the.... Read more »

Posted on : Wednesday , 21st October 2015

Russian firm begins Ethiopia oil exploration

GPB Global Resources, a Russian oil and gas company, is embarking on an oil exploration project in the Afar Regional State of Ethiopia. The country’s Ministry of Mines, Petroleum and Natural Gas, and GPB Global Resources signed petroleum production sharing agreement whereby the company would prospect for oil in the Gewane-El Wiha block, in the Afar Regional State. The exploration area is located in the Afar region in the north-eastern.... Read more »

Posted on : Wednesday , 21st October 2015

Kenyan flowers account for 7 per cent of global production

Kenya’s flower production now accounts for seven per cent of the world’s output, according to the latest statistics from the Kenya Flower Council (KFC). And though the country is now ranked third after world leaders Colombia and Ecuador, the flower sector has had to face down numerous challenges to register growth in the last couple of years, according to KFC Chief Executive Jane Ngige. “The country’s flower.... Read more »

Posted on : Wednesday , 21st October 2015

Kenya Industrialization ministry to roll out special trade zones in 2016

Kenya plans to roll out Special Economic Zones (SEZs) which will enjoy lower taxes to boost the country’s investment profile. The designated trading zones will be established in the first quarter of 2016, the Industrialisation ministry has said. They are expected to help investors cut down on key cost drivers such as transport, with the hope that surplus funds would go towards value addition. The focus of the new policy on SEZs is.... Read more »

Posted on : Wednesday , 21st October 2015

Kenya lays foundation for strong growth in a challenging Industrial environment

Kenya’s economy is expected to grow at 5.4 percent in 2015, recording an improvement over the 2014 growth rate of 5.3 percent, says a new World Bank Group economic report released today. The growth rate in 2016 is projected to be 5.7 percent. The Kenya Economic Update (KEU) attributes the growth to government investment in infrastructure and strong consumer demand. “Kenya has the potential to become one of the.... Read more »

Posted on : Wednesday , 21st October 2015

Russia talks mutual interests with Rwanda

Louise Mushikiwabo, the Rwanda foreign affairs and cooperation minister was in Russia last week after being invited by her counterpart and host Sergey Lavrov. According to a release at the close of her two-day visit, it was stated that they discussed a broad range of diplomatic issues in a bid to strengthen bilateral ties between the two countries. Addressing a joint news conference afterwards the two foreign ministers said Rwanda and.... Read more »

Posted on : Wednesday , 21st October 2015

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