Market News Page No. 44| Africa Business News

Ethiopia apprised trade promotion agreements with Pakistan

The Ethiopian Ambassador, Jamal Beker Abdula, has informed the government of Pakistan that seven to ten agreements pertaining to trade promotion, political consultation, defence cooperation, aviation, technology transfer, and others will be signed within the next month or two to help connect the two countries and promote economic exchange. "Ethiopia's economy is import-driven, and its dynamics are similar to Pakistan," said Farazur Rehman,.... Read more »

Posted on : Friday , 4th November 2022

Tanzania and the DRC signed a MoU to expand their trade relations

President Samia Suluhu Hassan and her Democratic Republic of the Congo (DRC) counterpart, Félix Tshisekedi, have agreed to collaborate in a number of areas to boost bilateral trade. Tanzania and the DRC intend to collaborate in a variety of areas, including trade, investment, infrastructure, finance, energy, education, defence, security, and immigration. This decision was reached following discussions between the two leaders at the.... Read more »

Posted on : Friday , 4th November 2022

Kenya to establish specifications for biogas packaging.

Kenya is establishing regulations to facilitate the commercialization of biogas, a move that will provide consumers with affordable energy in response to the high cost of LPG and generate income for producers. The only thing left from the commercialization of the methane gas created from plant matter and animal waste, according to the Kenya Bureau of Standards (KBS), is a set of regulations for the packaging of biogas.According.... Read more »

Posted on : Thursday , 3rd November 2022

Ethiopian coffee exports will rise by 560 metric tonnes.

Ethiopia is anticipated to produce 8.25 million 60-kilogram bags of coffee during this time (495,000 MT), Ethiopia is home to more than 15 million smallholder farmers who depend on coffee as their main source of income. The total amount of coffee exported from Ethiopia in the most recent fiscal year was 4.70 million bags (282,000 MT). As of 2022, Ethiopia is the largest producer of coffee in Africa and the third-largest producer of arabica.... Read more »

Posted on : Tuesday , 1st November 2022

Tanzania's agricultural goals are boosting grain exports in East Africa

The foundation of Tanzania's economy is agriculture. According to government statistics, the sector employs more than 65% of Tanzanians and accounts for 27% of the country's GDP (GDP). This is supported by Tanzania's plans to build enormous grain storage facilities and distribution hubs all over East Africa. This situation indicates that Tanzania's desire to increase its grain exports is being strengthened by the sector's surplus, which is.... Read more »

Posted on : Tuesday , 1st November 2022

Singida from Shanta Gold is on schedule for the first gold pour.

With the first gold pour scheduled in March 2023 at Tanzania's Singida gold mine, Shanta Gold will become a producer of more than 100,000 oz of gold per year. With production rising 11% from the previous quarter, the team has once again produced a very solid operational performance. The Singida project's construction is moving along nicely, and CEO Eric Zurrin reports that the first gold pour is still scheduled for March 2023. "Our.... Read more »

Posted on : Monday , 31st October 2022

Burj Zanzibar: The World's Future Tallest Timber Building

The Indian Ocean island of Zanzibar is planning the world's tallest timber apartment, a 28-story residential structure built with hybrid timber technology. The magnificent high-rise, known as Burj Zanzibar (the Arabic word "burj" means "tower"), is intended to rise significantly 96 metres. As the first timber construction of this size in the entire world, it would be known as "vertical green town" and serve as an iconic monument for the.... Read more »

Posted on : Friday , 28th October 2022

Electric bus debuts in Nairobi to promote clean energy

In a city where smog-belching minivans are much more common, a Nairobi-based green mobility business revealed an electric bus that its creators believe will promote ecologically responsible travel. Although it is the capital of the economic superpower of East Africa, the city of roughly five million people lacks a state-run transportation system, and the colourful bus drove out into the dreaded morning gridlock. Despite the government.... Read more »

Posted on : Thursday , 27th October 2022

Kenya: KAM and AAAM Partner to Promote Automotive Industry Growth

Kenya Association of Manufacturers (KAM) has joined with the African Association of Automotive Manufacturers (AAAM) to advance the automotive industry's sustainable development and expansion in Kenya. The partners stated that the aim will be met through growing output, increasing trade, and boosting Kenya's automotive industry's worldwide competitiveness. AAAM CEO Dave Coffey expected that a progressive strategy will improve Kenya's.... Read more »

Posted on : Wednesday , 26th October 2022

The Kenya Port Authority wants to improve Trade with Modern Infrastructure Plans

The East African regional economies' growth will be sped up by the Japanese International Cooperation Agency's (JICA) commitment to continue helping the Kenya Ports Authority (KPA) upgrade port facilities. JICA has been a staunch ally of KPA and provided funding for the development of the second container terminal at the Port of Mombasa, which cost Sh32 billion. The second container terminal at the busy port of Mombasa, which is.... Read more »

Posted on : Wednesday , 26th October 2022

Tanzania's rating improves as a result of the government's efforts to improve the investment climate.

Earlier in October, Moody's Investors Service upgraded the Government of Tanzania's outlook from stable to positive and reaffirmed the B2 long-term issuer ratings in both foreign and domestic currencies. According to the rating agency's statement, Tanzania's political risks have decreased as a result of President Samia Suluhu Hassan's administration's new strategy for promoting economic growth and engagement with the international.... Read more »

Posted on : Wednesday , 26th October 2022

TANZANIA: Ten Dams will Collect Rainwater to Serve the Cities of Dodoma and Singida.

TANZANIA: Ten Dams will Collect Rainwater to Serve the Cities of Dodoma and Singida.Ten dams are being built in Tanzania's Dodoma and Singida areas, according to Jumaa Aweso, minister of water and irrigation. In a climate-changed environment, future infrastructure will gather rainwater to provide families, farmers, and herders.A new initiative will undoubtedly help the residents of Dodoma and Singida with their water demands. It entails the.... Read more »

Posted on : Friday , 21st October 2022