Market News Page No. 458| Africa Business News | Afrotrade

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Africa: AfDB's New 'Energy for Africa' Deal to Benefit Over 700 Million People

700 million people will be supported to afford clean cooking energy stoves by the "New Deal for Energy in Africa," an initiative by the African Development Bank Group (AfDB) unveiled Thursday to solve Africa's huge energy deficit by 2025. The blue print to get rid of Africa's energy poverty by 2025 was unveiled at a High Level Stakeholder Consultative Meeting attended by business and political leaders at the bank's.... Read more »

Posted on : Tuesday , 22nd September 2015

Ghana: Massive Road Construction Underway

Joy has been brought to the faces of many residents and road users in the Eastern Region as work is steadily on-going on their roads to make them motorable. The Mahama led administration in recent times came under serious attacks and criticisms from a cross - section of the public including some traditional rulers in the region who even demonstrated against it to fix the roads. The joy of the people was noticed when the.... Read more »

Posted on : Tuesday , 22nd September 2015

African Development Bank invests in Kenya Power's, Last Mile electricity project

The African Development Bank in partnership with the Kenyan government will give Kenya Power an additional of US$ 190m in a bid to see the completion of the Last Mile electricity project in Kenya. The electricity project whose initiative was started so as to help increase electricity access to Kenyans particularly those who are in the low income group was instigated in May by the Kenyan president in Machakos County. The.... Read more »

Posted on : Tuesday , 22nd September 2015

Auto assembling plant in Kenya in the making

Kenyan firm Bico has partnered with Liebherr which is a German heavy machinery maker to construct an assembling plant in Kenya in the capital Nairobi. The assembling plant in Kenya which is estimated to cost US$ 218m will see the assembly of road construction and agricultural equipment done in Kenya. The registered Kenyan company, Bico intends to produce at least 30 units of earth movers, water drilling machines and farm machinery such.... Read more »

Posted on : Tuesday , 22nd September 2015

Kenya seeks trade ties with Norway

Kenya and Norway are seeking close business ties to strengthen economic growth and create jobs in the two countries. A high-powered business delegation from Norway is in the country led by the nation’s Minister of Trade and Industry Monica Maeland to seek available business opportunities in Kenya. According to Kenya’s ministry of Foreign Affairs and International Trade, the volume of bilateral trade between the two countries.... Read more »

Posted on : Tuesday , 22nd September 2015

Athi River Mining says new clinker plant to boost profit margins

Athi River Mining (ARM) Cement expects profitability to improve now that it produces its own clinker for its East African cement plants, the firm’s managing director has said. ARM Cement, East Africa’s second biggest producer after Bamburi cement, posted a pre-tax loss of Sh473.5 million ($4.5 million) in the first six months, which the firm blamed on unrealised foreign exchange losses associated with borrowing for its new.... Read more »

Posted on : Tuesday , 22nd September 2015

Reconstruction of roads in Kenyan capital Nairobi to cost US$ 9m

Plans are underway to reconstruct several roads in Kenyan capital Nairobi at a cost of US$ 9m, Governor Evans Kidero has announced, adding that the city roads will be repaired and this is according to the county government’s Nairobi Integrated Urban Development Master Plan. The reconstruction of roads in Kenyan capital Nairobi will significantly reduce present and future vehicle operating costs, journey times and improve traffic.... Read more »

Posted on : Tuesday , 22nd September 2015

Construction of Renaissance dam in Ethiopia in good course

The construction of Renaissance dam in Ethiopia is in good course,Dam project director, Simegnew Bekele has announced. Bekele said that the project is steady and they believe it will be completed within the stipulated time. The director added that they are making sure that the project is constructed to standards as they are currently using the latest technology that will ensure the dam last for ages. The construction of Renaissance dam in.... Read more »

Posted on : Monday , 21st September 2015

Call for full exploitation of East Africas rice market

MEMBERS of the private sector and the government have been advised to consult each other and see how they can solve challenges that impede Tanzania to take advantage of the readily rice market in the East African countries. A Tanzania Private Sector Foundation (TPSF) consultant, Dr Halima Noor, told a news conference during a high level policy dialogue for rice value chain stakeholders that Tanzania was not utilising her potential in producing.... Read more »

Posted on : Monday , 21st September 2015

Government urged to facilitate increased soybean production

The government has been urged to facilitate and put in place conducive environment that will enable more production of soybean in Tanzania. The call was made during the soya stakeholders' consultation meeting held in Dar es Salaam at the weekend organised by the Eastern Africa Grain Council (EAGC). The EAGC Country Director, Mr Julius Wambura, said it was high time for the government to put more efforts and make sure that the grain.... Read more »

Posted on : Monday , 21st September 2015

Uganda Official says could pick Tanzania over Kenya for Oil Pipeline

Uganda’s government is still considering a pipeline through Tanzania to export oil if it proved cheaper than alternatives, an official said on Wednesday, even though the Ugandan president indicated last month that a route through Kenya had been picked. Ugandan President Yoweri Museveni and Kenya’s Uhuru Kenyatta made a joint call in August to implement a pipeline project via north Kenya “without further delay”, a.... Read more »

Posted on : Monday , 21st September 2015

U.S. ties approval of $472.8 mln Tanzania aid to graft fight

The United States told Tanzania on Friday it must do more to fight corruption if it wants to receive a $472.8 million financial aid package next year. Tanzania has made big discoveries of natural gas and hopes to start large-scale production within a decade, but investors in the east African nation of over 45 million people have long complained of graft. "Despite some efforts to address corruption, it remains a serious concern.... Read more »

Posted on : Monday , 21st September 2015

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