Market News Page No. 493| Africa Business News

African floriculture heats up

On an average day at the Aalsmeer flower auction in the Netherlands – long considered the flower capital of the world – some 20m stems will change hands. During peak holiday period the trading in the country, which handles around 52% of global volume, is even more frantic. In the week running up to Valentine’s Day 2015, an estimated 200m red roses and tulips, 100m assorted other varieties and 20m pot plants were exported by.... Read more »

Posted on : Thursday , 7th May 2015

Rwanda to rehabilitate feeder roads at a cost of US$ 50m

Rwanda has signed an agreement that will see United States finance upgrading of feeder roads so as to improve the road infrastructure in various parts of the country. The Feeder Roads program will see 2500km of road network renovated – a project expected to end in 2018 and will cost an approximate amount of US$ 50m. Meanwhile, Rwanda is set to have established a total budget for rural feeder road network in 2016. The US envoy to.... Read more »

Posted on : Saturday , 2nd May 2015

Firm pledges US$ 27b for Mwambani Corridor in Tanzania

Brookwoods Capital, a privately held equity firm will be investing US$ 27b on the construction of Tanzania’s Mwambani Port and Railway Corridor (Mwaporc) project in Tanga, which is set to be one of the region’s largest development corridors. Construction of Mwambani Port and Railway Corridor (Mwaporc) is set to help in the direct shipping of goods from international ports. Mwaporc development corridor will see exporters and.... Read more »

Posted on : Thursday , 30th April 2015

Tanzania: U.S. $590 million Dar es Salaam Port upgrade works begin

Dar es Salaam — Civil works have started on the $593 million upgrade of Dar es Salaam port involving financing by both bilateral and multilateral donors and overseen by TradeMark East Africa, the non-profit consultancy. Philippe Dongier World Bank Country Director for Tanzania, Uganda and Burundi said last week the event is happening at the right time when the World Bank together with the Tanzania government, the British Department of.... Read more »

Posted on : Tuesday , 28th April 2015

EAC states urged to review their agricultural budgetary allocations

Even though agriculture remains the main economic activity in the East African Community (EAC) partner states, public spending on the sector remain very low as reflected in the 2014/2015 individual national budgets published by Kenya, Tanzania, Uganda and Rwanda. This is despite the sector contributing about 30 percent of the Gross Domestic Product (GDP) and employing about 80 percent of the total work force of these countries. The.... Read more »

Posted on : Tuesday , 28th April 2015

SA and Indonesia boost trade relations

South Africa and Indonesia have amplified efforts to increase bilateral trade as well as working together to promote technical cooperation in the fields of agriculture, energy and maritime resources. The two governments have signed a bilateral cooperation agreement which will pave the way for the elimination of trade barriers. The agreement was signed at the Indonesian capital Jakarta ahead of the start of the Africa-Asia summit. .... Read more »

Posted on : Monday , 27th April 2015

Roll-out for first made-in-Nigeria cars

The Innoson Vehicle Manufacturing Company Limited (IVM) made history late in November 2014, when it unveiled 500 made-in-Nigeria cars, built at its plant in Umudim, Nnewi, Anambra State, thus becoming the first indigenous manufacturer to achieve this milestone. The vehicles – the IVM Fox hatchback and the IVM Umu saloon cars – are built mainly with local content and are priced lower than imported brands. The Fox, a five-seater,.... Read more »

Posted on : Monday , 27th April 2015

East Africa looks to more trade with India

East African businesses are set to trade more with India by learning how to take advantage of the country's duty-free market access scheme, facilitated by the Supporting India's Trade Preferences for Africa (SITA) project of the International Trade Centre (ITC). The ITC, a joint agency of the World Trade Organisation and the UN, aims for businesses in developing countries to become more competitive in global markets, speeding up economic.... Read more »

Posted on : Saturday , 25th April 2015

Tanzania horticulture exports rise by 38pc, earn $102m

Horticulture is gradually becoming a driving force not only to Arusha where the industry first cropped up, but to the entire agricultural sector, fresh data shows. The input of the sub-sector to overall agrarian exports value grew by 38 per cent in 2014, as opposed to the previous year when it contributed 31 per cent, registering a 7 per cent increase during the period in review. Horticulture brought home an extra $102 million in 2014,.... Read more »

Posted on : Saturday , 25th April 2015

Nigeria, Russian Firm Stake N16 Trillion to Build Four Nuclear Plants

Nigeria has signed an agreement with a Russian firm, Rosatom, to build four nuclear power plants in the country valued at $80 billion, about N16 trillion. The power plants which will have a combined capacity of 4,800 megawatts, are expected to come on stream between 2025 and 2035. Speaking at a forum in Kenya Tuesday, Mr. Franklin Erepamo Osaisai, Chairman/Chief Executive Officer, Nigeria Atomic Energy Commission, said the building of the.... Read more »

Posted on : Friday , 24th April 2015

Investors call for a trade-boosting environment in Kenya

Business leaders want the government to come up with programmes that can support local innovators and young entrepreneurs to turn their ideas into profitable enterprises. Meeting in Nairobi over the weekend, the investors also sought incentives for local firms, as opposed to the current focus on their foreign counterparts, as well as give them preference when procuring goods and services. Studies have shown that many innovations in Kenya.... Read more »

Posted on : Friday , 24th April 2015

Rosatom, ready to empower Africa.

Global nuclear giant Rosatom incorporates more than 350 companies worldwide and includes civil nuclear companies that specialize in power generation and nuclear fuel production, nuclear and radiation safety complex facilities, fundamental and applied science, nuclear medicine organizations, as well as the world’s only nuclear-propelled fleet of ice breakers. Rosatom is extremely unique in that it is currently the only company able to.... Read more »

Posted on : Friday , 17th April 2015