Market News Page No. 451| Africa Business News | Afrotrade

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Sh49.6 billion solar project launched in Kenya to generate clean energy

This is part of the country's strategy to embrace green energy and avoid over-dependence on sources of power that are harmful to the environment. The Sh49.6 billion project will be spearheaded by the Government through the Tana and Athi Rivers Development Authority (TARDA) in collaboration with Ultra Clean Energy Solutions (EA) Limited and Hitachi India (PVT) Limited. Speaking during the launch of a four-year strategic plan (2014-2018),.... Read more »

Posted on : Friday , 18th September 2015

East Africa: State agency seeks to bring about bettement in the FoodAgro sector

Tana and Athi Rivers Development Authority (Tarda) has planned for the project that aims to increase the production of sugar cane from 70 to 110 metric tonnes per hectare, scale up production of ethanol and animal feed, generate 35 Mega Watts of power and create employment. "Growing sugar cane along the Tana Delta will eliminate the sugar deficit that currently stands at 200,000 metric tonnes. This is because the climate is more.... Read more »

Posted on : Friday , 18th September 2015

China VP Stresses Industrial Investment in the African Continent

Hangzhou — Chinese Vice President Li Yuanchao called on China and Africa to draw on private investment in their industrial cooperation when he addressed the fourth China-Africa People's Forum in Yiwu of east China's Zhejiang Province on Wednesday. The city is known as the world's largest wholesale market for small consumer goods and is home to more than 3,000 African businessmen. As China works to upgrade its.... Read more »

Posted on : Friday , 18th September 2015

Japan to fund the construction of a research centre in East Africa

Japan through its agency, Japan International cooperation Agency is set to construct a research centre in Ethiopia that will serve as a training and research center throughout Africa. The construction project dubbed Kaizen institute will be built on a 3,000sqm piece of land at Sar Bet near the African Union in Addis Ababa. An agreement was signed between Kimura Takusaburo, Japan International Corporation Agency’s.... Read more »

Posted on : Friday , 18th September 2015

Chinese Company to invest in East Africa's Gas extraction

A Chinese company engaged in natural oil gas exploration with a capital of five billion USD in Ethiopia is expected to produce 40 billion gallon gas after three years. President Dr Mulatu Teshome held talks with Chinese Poly Technology Company Vice President Huang Geming at the National Palace yesterday. President Mulatu said the relationship between Ethiopia and China would help attract more huge companies into.... Read more »

Posted on : Wednesday , 16th September 2015

Nairobi County endorsed as a Culinary Hub

Group CEO of International Quality Awards Ltd. Mr. Mansoor Jiwani NAIROBI, KENYA: In the spirit of re-branding Nairobi, the County Executive of Trade Industrialization, Cooperative Development and Tourism, Anna Othoro touched on the need to differentiate "Nairobi as a Brand" and explore the Live-Love Nairobi campaign through culinary tourism. "Nairobi has so much to explore and so much to crave in terms of food and beverage.... Read more »

Posted on : Wednesday , 16th September 2015

Kenya-South Sudan road construction gets funding from World Bank

The World Bank has released US$512m for the construction of the Kenya-South Sudan road and also for the laying of the fibre optic cable which will eventually enhance trade between the two countries. South Sudan’s ICT minister Rebecca Joshua Okwaci and her Kenyan counterpart Fred Matiang’i signed a memorandum of understanding in January this year, paving way for commissioning of the project. “The entire.... Read more »

Posted on : Wednesday , 16th September 2015

Kenya and Rwanda in Power Deal

Kenya Power and Rwanda have entered a power agreement in which Kenya power will commence exporting 30 MW of power to Rwanda as from early 2016, chief Executive Officer Dr. Ben Chumo has announced. Chumo expressed confidence that the power purchase agreement reached with Rwanda will boost Kenya Power revenues. “This program which would earn Kenya Power millions of revenue is on and a fortnight ago we were in.... Read more »

Posted on : Wednesday , 16th September 2015

South African Company Buys Back the Country's Platinum Mines

Mining giant Anglo American announced on Wednesday the sale of three platinum mines in South Africa to Sibanye Gold, the country's largest gold producer. The mines sold for 4.5 billion rand despite the plummeting platinum prices. Amplats, as Anglo American Platinum is known, actually values these assets at 7.7 billion rand. This 3.2-billion-rand loss is a sign of just how desperate the company is to dump these mines from its.... Read more »

Posted on : Wednesday , 16th September 2015

Ethiopia: Trade Authority Distributes Sugar, Oil, Flour

The Ethiopian Trade Competition & Consumer Protection Authority (TCCPA) is distributing 250,000ql of sugar for residents in Addis Ababa to satisfy an expected increase in the demand for sugar in the New Year, and announced that there is enough stock to quickly respond to any shortage that may appear. There is also 350,000ql of sugar already up for sale through bid. The quota for the distribution of flour and edible oils has.... Read more »

Posted on : Wednesday , 16th September 2015

Kenya: Sh33 Billion Write-Off for Sugar Factories

The State will write off Sh33 billion owed by sugar factories, a parastatal head has said. Privatisation Commission Board chairman Henry Obwocha on Sunday said this will enable the factories to pay cane farmers. "Due to the huge debts, the factories have been making losses," Obwocha said. He was raising funds for a priest's house on Sunday at Amasago Catholic Parish, Nyaribari Chache.... Read more »

Posted on : Wednesday , 16th September 2015

Over 10,000 Sacks of Rice Impounded in Idenau

The consignment was destined to a neighbouring country without the payment of custom duties. Within the framework of ensuring that goods exported from Cameroon are not only monitored but must adhere to customs rules and regulations, over 10,000 bags of rice destined for export to a neighbouring country, have been impounded at the Idenau seaport in the West Coast. The operation to impound the rice was carried out over the weekend by the.... Read more »

Posted on : Wednesday , 16th September 2015

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