Market News Page No. 436| Africa Business News | Afrotrade

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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

EAC-US Trade Investments Strengthened

Ministers from the East African Community (EAC) have signed a Cooperation Agreement on Trade Facilitation, Sanitary and Phytosanitary (SPS) Measures, and Technical Barriers to Trade (TBT) with the U.S. Trade Representative, Ambassador Michael Froman on 26 February, 2015 in Washington, D.C. The Cooperation Agreement will increase trade-related capacity in the East African region, as well as deepen the economic ties between the EAC.... Read more »

Posted on : Wednesday , 21st October 2015

East Africa Trade and Investment Hub

Growth in the five East African Community Partner States—Burundi, Kenya, Rwanda, Tanzania, and Uganda—has been robust but uneven, with millions of people left behind in poverty. Women, youth, smallholder farmers, and the poor are not fully represented in policy making or implementation nor integrated into the wider economic community. The East Africa Trade and Investment Hub is the U.S. Government’s flagship project.... Read more »

Posted on : Wednesday , 21st October 2015

Nigeria: Renewable Energy Sector Comes of Age

Lagos — STAKEHOLDERS from Nigeria government, utilities, consultants and investors will next month converge in Lagos to discuss the challenges of local markets, capacity building and investment in the regional power sector. The summit will be held under the auspices of the West African Power Industry Convention (WAPIC) on November 24-25. WAPIC will focus on Nigeria's renewable energy potential as clean the power.... Read more »

Posted on : Wednesday , 21st October 2015

Tanzania Aims for 2700 Megawatts

Dar es Salaam — The government has said it is optimistic it can close the deficit of 1,290 megawatts of electricity to achieve the goal of generating 2,780 MW by the end of next year "What we must now do is find a means of generating the remaining 1,290MW so that we can reach that target by end of next year. "If we would have implemented the projects as I had visualized, we would now be quite contented,".... Read more »

Posted on : Wednesday , 21st October 2015

Swiss drugs giant launches 15 products in Kenya

Kenya is the first country to benefit from a portfolio of 15 affordable medicines to treat cardiovascular diseases, diabetes, respiratory illnesses, and breast cancer. “Novartis and Kenya have a relationship of more than 40 years, so I am delighted that Kenyan patients will be the first to benefit from Novartis Access. “The successful implementation of the programme in Kenya will be essential to guide the expansion of.... Read more »

Posted on : Wednesday , 21st October 2015

Malawi: Sugar Factory Ready End of October - India for Stronger Partnership

The sugar factory completion date--projected to be end this month when President Peter Mutharika is also expected to attend the third edition of India-Africa Forum Summit (IAFS) from October 26 to 29--should stand as a microcosm of what Africa and, Malawi in particular, can benefit from a resurgent India through stronger economic and political cooperation. "Malawi and India have been strong partners for decades in terms of trade,.... Read more »

Posted on : Wednesday , 21st October 2015

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