N e w s

Savanna Tobacco Gears for Expansion

Cigarette manufacturer Savanna Tobacco is gearing to expand its footprint on the African continent and has made key changes to its structures in pursuit of that objective, the company said yesterday. The Savanna group, chaired by Adam Molai, announced appointment of two key executives namely Mr Nick Hales as its global chief executive officer and Mr Douglas Mamvura as chief marketing officer.   Announcing the appointments, the cigarette.... Read more »

Posted on : Thursday , 3rd September 2015

Ethiopia: Promising Stride in Harvesting, Exporting Avocado

A workshop for framers from Bahir Dar and Butajira surrounding areas was organized at Bicolo Fruit Nursery, West Gojjam in order to train them on how to harvest, pick and prepare, handle avocado. Speaking on the workshop, the Israeli Ambassador to Ethiopia Belaynesh Zevadia said that the project has been implemented by Israel's Agency for International Development Cooperation (MASHAV) and USAID in cooperation with the Ethiopian.... Read more »

Posted on : Thursday , 3rd September 2015

UN body to aid Africa with nuclear power generation

 UN’s International Atomic Energy Agency (IAEA) has decided to help African nations with the development of nuclear energy for electricity generation nuclearplant 12923 pixabayPlans for nuclear power generation are making headway in Kenya. (Image source: 12923/Pixabay) Several African countries have expressed interest in the peaceful development of nuclear power, according to IAEA senior advisor for policy and strategy Anne Starz,.... Read more »

Posted on : Thursday , 3rd September 2015

Kenya to receive USD 55.6 bn for infrastructure development

 Mega infrastructure projects are planned for East Africa and are set to create unique opportunities and open new markets in Kenya, Uganda and Ethiopia. Industry sectors expected to benefit from the planned infrastructure developments include oil and gas (O&G), mining, agriculture, and retail.   New analysis from Frost & Sullivan, African Infrastructure Tracker: Kenya, reveals that Kenya is set to become a hub for.... Read more »

Posted on : Thursday , 3rd September 2015

KENYA TO BECOME HUB FOR INTRA-REGIONAL AFRICA TRADE

 Kenya is set to become a hub for intra-regional trade in Africa, according to a new report from Frost & Sullivan. An estimated $55.6 billion in investments in infrastructure development for Kenya is planned, the majority of which will focus on telecommunications and power generation infrastructure, according to the report.   Mega infrastructure projects are also planned for elsewhere in East Africa and are set to create unique.... Read more »

Posted on : Thursday , 3rd September 2015

Cattle sales rise at Pugu Market

 Earnings generated from the cattle sale at the Pugu Auction market increased to 2.45bn/- last week from 2.36bn/ of the previous period. According to statistics from the Ministry of Industry and Trade, the daily cattle sales increased to 3,794 in the week under review from 3,682 of the other week, which is 3 per cent rise.   With the exception of female cattle grade two whose price remained unchanged at 700,000/-as the previous.... Read more »

Posted on : Wednesday , 2nd September 2015

Kenya to set up unit to protect critical infrastructure

 NAIROBI: The Government will set up a powerful entity to protect critical infrastructure against threats such as terrorism, espionage and sabotage.   In a move aimed at dealing with increasing threats to critical infrastructure such as power lines, fibre optic, roads and data centres, the Government has proposed hefty fines and jail terms for up to 10 years for people caught sabotaging infrastructure that is critical to national.... Read more »

Posted on : Wednesday , 2nd September 2015

Trading steeply up at Dar stock exchange

 The Dar es Salaam Stock Exchange (DSE) experienced high traffic from both local and foreign investors resulting into a turnover of 29.89bn/- compared to 1.74bn/- of the previous week.   According to Zan Securities Limited Weekly Wrap Ups, Tanzania Breweries Ltd (TBL) and CRDB Bank Plc emerged as the week’s top traded equities contributing about 84.20 percent and 11.14 percent, of this week’s total.... Read more »

Posted on : Wednesday , 2nd September 2015

German lender to give Tanzania SMEs 42bn/- financial support

 EXIM Bank Tanzania has signed a USD 20 million (about 42bn/-) loan pact with Germany’s private enterprise lender, Deutsche Investitions und Entwicklungsgesellschaft MBH (DEG) to support small and medium-sized enterprises (SMEs).   Exim Bank Chief Finance Officer (CFO), Mr Selemani Ponda, said the money, in the form of a senior loan will be disbursed in two tranches based on the progressive growth on lending assistance to the.... Read more »

Posted on : Wednesday , 2nd September 2015

Rwanda Govt leases 22 micro-hydro power plants to private developers

 The government has leased 22 micro-power projects to private investors, a move aimed boosting the country’s power generation capacity.   The plants were leased to seven private power developers for 25 years, according to the Power Purchase and Concession Agreements signed between the companies and Ministry of Infrastructure, Rwanda Development Board and the Rwanda Energy Group on Thursday.   Speaking at the signing of.... Read more »

Posted on : Wednesday , 2nd September 2015

ERCC boosts Ethiopia market share in road construction

 Road construction in Ethiopia will now be dominated by the government  after Ethiopian Road Construction Corporation (ERCC) rolled out a business plan to boost its market share in road construction to 50%.   The move is aimed at improving transport and communication in the country which will favor local market growth.The government of Ethiopia also intends to be more involved in road maintenance.   The new big business.... Read more »

Posted on : Wednesday , 2nd September 2015

Shanzu Beach Resort to construct new block of apartments in Kenya’s Coast

 Shanzu Beach Resort is set to construct a new block of apartments at the Kenyan Coast in a bid to boost their high end property development.   The development which is dabbed The Shaza project will consist of 18 apartments comprising of two and three bedroom that will go for between Sh32 million and Sh42 million respectively.   The Shanzu beach resort blocks will be constructed in Mombasa County and will be completed by.... Read more »

Posted on : Wednesday , 2nd September 2015



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