Market News Page No. 499| Africa Business News | Afrotrade

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World Bank gives Kenya Sh1.2b to enhance water and sanitation access

This comes after the bank together with the Global Partnership on Output-Based Aid (GPOBA) and the Kenya government signed a grant agreement approving $11.8 million (Sh1.07b) in funding for water and sanitation in low-income urban areas. The project is targeted to reach 30,000 low-income urban households – or 150,000 residents. Service providers that provide water and sanitation projects for low-income residents will receive money.... Read more »

Posted on : Tuesday , 3rd February 2015

Kenya: Electricity connection now Sh1,160

The programme dubbed Global Partnership on Output Based Aid will see Kenyans living in informal settlements in urban centres and those in rural areas being connected. Speaking at Kiganjo Polytechnic Grounds in Gatundu South over the weekend when he launched the programme, Dr Chumo said the programme targets the needy who could not afford to raise the current Sh35,000 for power connection. “We want to put a smile on the.... Read more »

Posted on : Tuesday , 3rd February 2015

Africa develops Special Economic Growth Engines Towards Industrialisation & Regional Development

Special Economic Zones (SEZs) are progressively becoming a policy tool of choice for governments to attract foreign investment to promote export oriented economy and growth, thus creating employment opportunities. Globally, there is a major shift in economic policies in developing countries which attempt to industrialise their economy by becoming more manufacturing based economies, export driven through setting up of free trade zones that.... Read more »

Posted on : Tuesday , 3rd February 2015

Africa: NECSA Tooling Centre of Excellence Launched

The Minister of Trade and Industry, Dr Rob Davies (MP), launched the South African Nuclear Energy Corporation (NECSA) Tooling Centre of Excellence in Phelindaba, Pretoria, on 10 November 2014. The launch was held in partnership with the National Tooling Initiative (NTI) and NECSA. The minister said the tooling sector has been identified by the Department of Trade and Industry (the dti) as a "key programme to develop market and.... Read more »

Posted on : Tuesday , 3rd February 2015

Tanzania tourism could hit $16 billion

DAR ES SALAAM, Tanzania – The World Bank has said Tanzania’s tourism revenues could bulge four times from $4.48 billion in 2013 to $16 billion annually by 2025 if share benefits from the industry are equitably and evenly distributed to local participation but with quality. Jacques Morisset, the World Bank Lead Economist said tourism is considered to be a high priority under President Jakaya Kikwete’s development.... Read more »

Posted on : Tuesday , 3rd February 2015

Foreign investors on rise in Tanzania

DAR ES SALAAM, Tanzania - The number of foreign investors in the country has increased dramatically, following the launch of the East Africa Stock Exchange (EASE) market in September last year,. The market provides a wide chance for Tanzanian companies to be listed in the East Africa Stock Exchange market,” said Chief Operating Officer, of Unit Trust of Tanzania (UTT), Simon Migangala when briefing journalists on.... Read more »

Posted on : Tuesday , 3rd February 2015

Manufacturing development a boost to industrilization in Africa

Africa still accounts for a very low share of global manufacturing value-added (MVA) and global manufacturing exports (1.1 percent and 1.3 percent respectively in 2008). Even more worrying is that Africa's share of global low-technology manufacturing exports, a sector where it should have immediate comparative advantages, fell from 1.5 percent in 2000 to 1.3 percent in 2008, as opposed to East Asia and the Pacific where it rose from 17.... Read more »

Posted on : Tuesday , 3rd February 2015

Fostering industrial development in Africa in the new global environment

In a special issue of its Economic Development in Africa Report this year, the United Nations Conference on Trade and Development (UNCTAD) collaborated with the United Nations Industrial Organization (UNIDO) to delineate strategies and policy options for Africa to foster its industrial development in the new global environment. The report advocates for African countries to embark on a new industrial policy centered on manufacturing.... Read more »

Posted on : Tuesday , 3rd February 2015

Kenya: Work begins on US$ 52m Nairobi pipeline terminal expansion

Kenya Pipeline Company’s (KPC)fuel terminal in Nairobi is set to undergo a US$ 52m expansion involving construction of a 450-kilometre pipeline to enable it hold extra petroleum products once the new Mombasa pipeline starts functioning in 2016. It will be completed within 24 months according to Jacinta Sekou, a KPC’s spokesperson. The construction, which also involves developing four storage tanks with a capacity of.... Read more »

Posted on : Tuesday , 3rd February 2015

Algeria to start construction of Bellara Steel Complex this year

Construction of the US$2 billion Bellara steel complex construction will kick off in the first quarter of this year 2015 in Jijel East of Algeria, the prefect of Jijel, Ali Bedrici has said. The steel project will help the country to produce 4 million tons of steel per year in the second phase of construction, but is designed to first assist in producing 2 million tons of steel rebars in its first phase before 2017 in order to.... Read more »

Posted on : Tuesday , 3rd February 2015

Lower oil prices fuel improved trade balance

SA’s TRADE balance switched from a deficit into a surplus in December as export growth outpaced imports, fuelling optimism that cheaper oil is going to help narrow the current account deficit this year. Figures released by the South African Revenue Service (SARS) on Friday show that the country’s trade balance shifted from a revised R5.27bn deficit in November to a R6.8bn surplus in December. This is.... Read more »

Posted on : Monday , 2nd February 2015

Egypt engaged in talks on importing Israeli gas

Egypt is considering importing natural gas from Israel as a delegation from American oil firm Noble Energy has traveled to the North African country for talks over the issue, sources say. “Negotiations are underway about the amount of gas that can be imported,” an Egyptian Oil Ministry source said on Sunday, adding the talks were about the technical procedures for bringing Israeli gas into Egypt. Earlier in.... Read more »

Posted on : Monday , 2nd February 2015

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