Market News Page No. 454| Africa Business News | Afrotrade

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Construction of Power plants in Egypt gets funding from Japan

Construction of power plants in Egypt has received a boost following the signing of a deal worth $243 million with Japan International Cooperation Agency. The funds which will be channeled to Egyptian electricity companies are aimed at enhancing the country’s troubled electricity sector that has seen several areas experience outages. According to Japan, International Cooperation Minister Najla Ahwani the agreement.... Read more »

Posted on : Wednesday , 9th September 2015

Plans to improve business climate underway.

The TNBC Executive Secretary, Mr Raymond Mbilinyi, told journalists in Dar es Salaam yesterday that implementation of all agreed recommendations during the meeting chaired by President Jakaya Kikwete will be presented at the coming 9th Council’s meeting on 2nd October, 2015. “Some are just administrative issues which are easy to implement while those that need changes in some laws will have to follow required.... Read more »

Posted on : Wednesday , 9th September 2015

Israel offers Africans agriculture expertise

Israel wants to use its leading edge in agricultural innovation to help improve food production across Africa, Prime Minister Binyamin Netanyahu said in Milan last week. “If we pool our resources, our knowledge, our technology we can help many, many countries in Africa to not only better agriculture and to better life,” he said. His remarks come ahead of the 12th Africa-Israel Economic Mission to be held.... Read more »

Posted on : Wednesday , 9th September 2015

Tanzania survey shows more gas awareness needed

DAR ES SALAAM, Tanzania – Twaweza, a local Tanzania organization last week said many Tanzanians are misguided on the benefits they expect to reap from the oil and gas sector as such more education and sensitization is needed. Aidan Eyakuze, Twaweza Executive Director when presenting the main results of a survey saidTanzanians citizens are significantly misinformed about the potential of the country’s gas.... Read more »

Posted on : Wednesday , 9th September 2015

Government bans issuance of mining licences to minors

The Ministry of Energy and Minerals has warned that children under 18 years are not allowed to be registered as shareholders when applying for mining licences. An official of the ministry, Ms Nuru Shabani, sounded the warning here during a training for small-scale and artisanal miners on the newly introduced Online Mining Cadastre Transactional Portal (OMCTP). “It is illegal for children to be listed as shareholders; licence.... Read more »

Posted on : Wednesday , 9th September 2015

Kia Motors' new assembly plant in Africa to make 25,000 vehicles annually

Leading automobile brand Kia Motors Nigeria has unveiled a new assembly plant in Lagos, which is expected to produce 25,000 vehicles every year The plant named United Vehicle Assembly Limited (UVAL) will be part of Nigeria's robust automotive policy of making the nation a leading manufacturing hub, said officials from UVAL. Nigerian minister for industry, trade and investment Olusegun Aganga paid a visit to the plant, stating.... Read more »

Posted on : Wednesday , 9th September 2015

East Africa to invest US$1bn in manufacturing sector

Ethiopia is planning to invest US$1bn in industrial parks over the next decade to boost exports, improve the textile sector and enhance the country’s overall position as a major manufacturer Arkebe Equbai, special advisor to the Ethiopian Prime Minister said, “In terms of industrial development and manufacturing development, we want to make Ethiopia number one in Africa.” The East African nation has targeted a.... Read more »

Posted on : Wednesday , 9th September 2015

Chinese firm to build new industrial park in East Africa

China Civil Engineering Corporation (CCECC) has concluded a US$246mn deal with Ethiopia’s Industrial Parks Development Corporation (IPDC) for the construction of the Hawassa Industrial Park Ethiopian firm MH Engineering has been appointed as a consultant on the project, which will be completed in nine months. The industrial park will focus on garment manufacturing and the agriculture industry. The first phase of.... Read more »

Posted on : Wednesday , 9th September 2015

Kenya gets new online grain trading platform

PXAfrica Limited has launched an online grain exchange in Kenya, providing a platform for wheat and maize trading A subsidiary of the US-based PanXchange, Inc., the firm has already attracted 20 subscribers who represent about 35 per cent of the local grain market. It also has users in Tanzania and Uganda. “Recruiting smallholder farmers and expanding into cross-border trading were activities we had planned for next year’s.... Read more »

Posted on : Wednesday , 9th September 2015

Kenya: Gold discovery brings Nandi back to life

The discovery of one of the world’s most prized minerals — gold — is opening golden opportunities for villagers at Kapsaos location, Aldai in Nandi County. Kapsaos is slowly turning into a hive of activity as residents seize opportunities to extract the resource from their hilly and rocky farms to generate additional income from the traditional maize, coffee and livestock farming. Their anxiety has also been.... Read more »

Posted on : Wednesday , 9th September 2015

Multi-billion fertiliser plant launched in Uasin-Gishu

Eldoret, Kenya: A multi-billion shilling fertiliser plant that will meet the specific soils and crop conditions across the country has been launched in Uasin-Gishu County. The first project of its kind in Kenya, which is being spearheaded by the Toyota Tsusho Fertilizer Plant, will bring down the cost of production upon its completion. Deputy President William Ruto graced the colorful ground breaking ceremony, which was held at Ngeria.... Read more »

Posted on : Wednesday , 9th September 2015

Kenya's irrigation project set for bumper harvest

NAIROBI: A bumper harvest is expected from the Galana irrigation project, which will potentially reduce the price of maize flour by half. The news comes as Kenyans grapple with high maize flour prizes, with a two-kilogramme packet going for Sh120.The Sh14 billion project that is being carried out by an Israeli firm, Green Arava, is part of President Uhuru Kenyatta’s plan to enhance food security in the country. The Government.... Read more »

Posted on : Wednesday , 9th September 2015

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