Market News Page No. 506| Africa Business News | Afrotrade

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Kenya's new car sales jump 18pc in 2014

The number of new cars sold in Kenya jumped 18 percent last year and is expected to grow further this year, reflecting middle-class demand and growth in sectors such as construction, the industry association said on Wednesday. The east African nation's car market is dominated by low-priced second-hand imports from countries such as Japan, but investors monitor new car sales to gauge the health of the economy. New car sales rose to 17,179 in.... Read more »

Posted on : Friday , 23rd January 2015

AFC announces $25m loan for Kenyan energy expansion

Multilateral development finance institution, the Africa Finance Corporation (AFC), would provide a $25-million loan, as part of a $150-million senior unsecured syndicated loan facility, to the Kenya Power and Lighting Company Limited (KPLC) to fund the rehabilitation and expansion of Kenya’s power transmission and distribution network. In line with the Kenyan government’s power sector policy, KPLC, which owned and operated most of.... Read more »

Posted on : Friday , 23rd January 2015

Miner Seeks Second Joint Venture Project in Tanzania

KIBO Mining and fellow Londonlisted miner Metal Tiger are set to deepen their relationship through a joint venture at gold prospect Morogoro in Tanzania. Metal Tiger recently became a shareholder in Kibo when it acquired half of shares of its Pinewood uranium deposit in Tanzania. The two companies are now closing on a deal that will see Metal Tiger take 50 per cent of the Morogoro South gold exploration portfolio of 18 licences and.... Read more »

Posted on : Friday , 23rd January 2015

Rwanda: Canadian Firm Acquires Licence, to Grow Stevia Plant On 1,000 Hectares

The Ministry of Trade and Industry (Minicom) has signed an agreement with SteviaLife, a Canadian firm, that will see the latter promote the production and export of stevia plant. Stevia is a sweetener that comes from a plant and has no calories. During the signing ceremony, yesterday, officials said at least 25,000 people will be employed on every 100 hectares of stevia plantation. The MoU aims at promoting the new.... Read more »

Posted on : Friday , 23rd January 2015

Rwanda: New Smelting Plant to Boost Mining Sector

Phoenix Metals LTD, a local factory, yesterday began smelting cassiterite into tin, a move set to boost Rwanda's revenue collections from mineral exports. Rwanda's mineral ores produced in the country are exported as 100 per cent mineral concentrates. With the smelting plant taking shape, it will be possible to export semi-processed tin, whose market value is higher than the unprocessed cassiterite. Speaking to journalists.... Read more »

Posted on : Thursday , 22nd January 2015

IBM Develops $2.5bn Super Computer for Kenya

Kenya’s eCommerce ecosystem is set to see greater efficiencies as IBM has launched what it has dubbed the ‘most powerful and secure system ever built.’ The z13 mainframe is an impressive demonstration of human ingenuity, technological advancement, and the monumental cost in terms of time and money – five years and a whopping $2.5 billion. Constructed with the burgeoning Kenyan mobile economy in mind, this super.... Read more »

Posted on : Thursday , 22nd January 2015

11 African Countries That Have Slashed Fuel Prices

It first happened in the United States of America, and now it is spreading all across sub-Saharan Africa – fuel prices are actually reducing! Thanks, or no thanks, to the oil price crash, consumers can now heave a sigh of relief, though some remain disgruntled that the price point reduction is not commensurate with the magnitude of the oil crash. Here are the 11 sub-Saharan African countries that have cut down fuel prices.... Read more »

Posted on : Thursday , 22nd January 2015

Consortium to invest US$ 38m in solar power projects in Eastern Uganda

A 20MW solar power plant worth US$ 38m will be constructed in Eastern Uganda to aid in the generation of electricity in Soroti and Tororo districts. A Ugandan-Italian consortium involving Simba Telecom and Building Energy SPA and the consortium of Access and TSK Electronica of United Arab Emirates and Spain have decided to invest in this electricity generation project so as to make power more affordable to locals. Moses.... Read more »

Posted on : Thursday , 22nd January 2015

Dutch-backed ICT Companies to boost export competitiveness in East Africa

The Netherlands Trust Fund III (NTF III) Export Sector Competitiveness Programme, a three-year, multi-phase Dutch-backed project with the International Trade Centre (ITC), has completed the company selection process for the projects in Kenya and Uganda. 33 Kenyan and 30 Ugandan companies were chosen based on a criteria that focused on their perceived ability to benefit from the NTFIII training and advisory services. Relevant criteria.... Read more »

Posted on : Thursday , 22nd January 2015

Trade and Investment - Transforming Kenya�

Today Kenya is ranked as a middle income country with a Gross Domestic Product in excess of US$50 billion becoming the fourth largest economy in Sub-Saharan Africa behind Nigeria, South Africa and Angola. These three countries have massive natural resources. Kenya is joining this league with several oil and natural gas drills yielding fruits. Kenya is on the global map as a favourable investment destination in Africa. The just concluded.... Read more »

Posted on : Thursday , 22nd January 2015

Tanzania: A competitive global investment destination.

THE good investment environment in Tanzania has enabled the country to take the lead in attracting Foreign Direct Investment (FDI) in the East African Region by USD1.1 billion (1.76 trillion/-) in 2012. And President Jakaya Kikwete has reiterated the country's commitment to attract more investors by offering a peaceful and stable environment for business and investments. In a speech read on his behalf by the Minister for Finance, Ms.... Read more »

Posted on : Thursday , 22nd January 2015

Tanzania: Miner Seeks Second Joint Venture Project in Tanzania

KIBO Mining and fellow London-listed miner Metal Tiger are set to deepen their relationship through a joint venture at gold prospect Morogoro in Tanzania. Metal Tiger recently became a shareholder in Kibo when it acquired half of shares of its Pinewood uranium deposit in Tanzania. The two companies are now closing on a deal that will see Metal Tiger take 50 per cent of the Morogoro South gold exploration portfolio of 18 licences.... Read more »

Posted on : Thursday , 22nd January 2015

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