Market News Page No. 432| Africa Business News | Afrotrade

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Uganda 'Most Improved' in Trade, Investment-Friendly Environment

Uganda is the most improved economy in the East African region in terms of creating a conducive environment for trade and investment, according to the latest Global Competitiveness ranking. Uganda, which ranked 115 (from 122 last year) of the 144 economies surveyed globally, was followed by Rwanda, whose economy improved from position 62 last year to 58, while Tanzania moved one position to rank 120 globally. Although Burundi.... Read more »

Posted on : Thursday , 15th October 2015

Africa's First Ice Cream Factory Opens

A United Kingdom-based multinational consumer goods company has opened a R600 million ice cream factory, said to be the first of its kind in the continent. Opened in Midrand, South Africa the facility is one of 40 Unilever ice cream factories across the globe. Officials said the investment demonstrating the confidence Unilever had in South Africa. "Unilever is optimistic about growth demand in the ice cream.... Read more »

Posted on : Thursday , 15th October 2015

Uganda: Tanzania, Uganda to Explore Oil Pipeline Plan

TANZANIA and Uganda have signed an agreement to explore the possibility of building a crude oil pipeline between the two countries, Uganda's Ministry of Energy and Mineral Development said on Monday. The Ugandan president, had indicated in August that a route through Kenya had been picked for its oil, but Uganda said last month it was still considering a pipeline through Tanzania. Although Uganda said in August it had agreed to.... Read more »

Posted on : Thursday , 15th October 2015

Tanzania: Pemba Airport Up for Upgrading

A FEW days after laying foundation stone for the modern terminal building at the Abeid Amani Karume International Airport (AAKIA) on Unguja Island, President Ali Mohamed Shein has promised to upgrade the current small airport in Pemba to international level. View Comments "Plans are underway to extend the runway, expand the airport, fix lights, and improve security to accommodate bigger planes from abroad," Dr Shein.... Read more »

Posted on : Thursday , 15th October 2015

Greater Opportunity to Invest in Projects in Africa

There are still opportunities for Public Private Partnerships (PPPs) in the country, says Mr Andre Kruger, the Public Private Partnership financing specialist of Barclays Africa. He said government had created a conducive environment by adopting the PPPs policy in 2009. Mr Kruger was speaking at a Barclays Bank PPPs workshop at Cresta Marang Hotel recently. He said PPPs would help ease pressure on the national.... Read more »

Posted on : Thursday , 15th October 2015

Investment in Agriculture for Increased Production and Productivity in Africa

The Regional FAO field coordinator for MDG1C in Upper River Region has described value chain in agriculture as a prerequisite to boost the commercialization of agricultural products, and to attain sustainable livelihood development. Dr Saikou E. Sanyang, an agriculturalist, noted that agricultural development depends on the simultaneous growth of farm-level production and productivity and the value chains to which it is.... Read more »

Posted on : Thursday , 15th October 2015

East Africa: Gold Miners Make 140.6 Million Br Investment

Two small scale mining companies are seeking gold and silver extraction licences to join the multi-billion Birr sector now dominated by MIDROC Gold. These companies, Letto and Lozbez, completed their exploration work and submitted their feasibility studies to the Ministry of Mines (MoM) in September. During the five years of the first Growth and Transformation Plan (GTP I), MIDROC Gold and artisanal miners had mined.... Read more »

Posted on : Thursday , 15th October 2015

East Africa: Newly constructed port terminal to start operation in mid 2016

Multi-donor agency Trade Mark East Africa (TMEA), has hinted that the newly constructed Mombasa port terminal which cost US$ 30.9bn will be operational in June, 2016. Dr. Chris Kiptoo, the TradeMark East Africa (TMEA) Kenya director said that the agency will hand over the facility to the Kenya Ports Authority (KPA) by mid next year. The terminal which has a capability of increasing container space by 450,000.... Read more »

Posted on : Thursday , 15th October 2015

Tanzania to get banana processor

Salum Said, a Director of Kagoma Green Estates said he wants people in the vicinity to move out of poverty. “What I am doing, I want other people do in order to make sure we support our people and the government in its efforts to fight poverty,” he said last week. Kagera Green Estates has acquired about 30 acres of land in Kikuku village for planting of banana plants and the activity is underway where over 10,000 banana tree seeds.... Read more »

Posted on : Wednesday , 14th October 2015

Swala Oil selects Tanzania drilling site

DAR ES SALAAM, Tanzania – Swala Oil & Gas (Tanzania) plc has selected a drilling location for the 2016 exploration well that shall be drilled on the Kito prospect in the Kilosa-Kilombero licence. The technical review of the Kilombero Basin has shown the Kito prospect to be robust and has given promising indications of the potential prospectivity within the basin,” Dr David Ridge, the firm’s CEO said last.... Read more »

Posted on : Wednesday , 14th October 2015

Ethiopia�s hydroelectric project begins power generation

Ethiopia’s Gilgel Gibe III hydroelectric power project began power generation, APA can report on Monday.The Dam, highest Roller Compacted Concrete (RCC) dam in Africa, will have a total installed capacity of 1,870mw. This will increase Ethiopia’s power generation capacity by 234 percent, according to Alemayehu Tegenu, Cabinet Affairs Minister, and former Minister of Water, Irrigation and Energy. The power will provide an.... Read more »

Posted on : Wednesday , 14th October 2015

CHINA TARGETS KENYAN PORTS TO EXPAND GLOBAL TRADE INFLUENCE

China is targeting Kenya’s ports of Mombasa and Lamu in expanding its global influence through trade and connectivity. The Port of Mombasa is the busiest in East Africa and serves Kenya, Uganda, Rwanda, South Sudan and the Democratic Republic of Congo. Port of Lamu, whose construction is underway, is part of the larger transportation corridor between Kenya, Ethiopia, South Sudan and Uganda. When completed, the corridor will be named.... Read more »

Posted on : Wednesday , 14th October 2015

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