Market News Page No. 510| Africa Business News | Afrotrade

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Kenya: Bungoma Buys Sh28 Million Tractors for Farmers

THE Bungoma government has bought a fleet of agricultural machinery to boost food production. The Sh28 million tractors will offer quick and affordable land preparation services, Governor Kenneth Lusaka said yesterday. The equipment includes tractors, incubators and Artificial Insemination kits are expected to be unveiled tomorrow, at Mabanga Farmers Training Centre. "In the past, high costs of farming operations.... Read more »

Posted on : Monday , 19th January 2015

Tourism and Agriculture to Drive Growth - World Bank

A recovery in tourism and agriculture sectors coupled with increased public expenditure is expected to boost economic growth this year after a slowdown last year, the World Bank said in a global report released yesterday. In its Global Economic Prospects 2015, the lender that finances capital projects in developing countries has forecast the national wealth to expand by six per cent this year up from an estimated growth of 5.4 per cent last.... Read more »

Posted on : Monday , 19th January 2015

Egypt Says It Will Go on Buying Kenyan Tea

Egypt will continue to be the leading importer in Africa of Kenyan tea, its trade Minister told a Kenya-Egypt business forum held in Nairobi on Tuesday."Egypt is looking forward to become the biggest importer of Kenyan tea," said Abdi Noor at the forum attended by Kenya's Foreign Affairs and International Trade Cabinet Secretary Amina Mohammed. The forum was aimed at strengthening trade relations between the two.... Read more »

Posted on : Monday , 19th January 2015

Tanzania: New Board Challenged to Take NDC to New Heights

THE Minister of Industry and Trade, Dr Abdallah Kigoda, has challenged members of the newly appointed board of directors of the National Development Corporation (NDC) to work together in ensuring that the corporation achieves its intended goals and objectives. He made the remarks in Dar es Salaam when launching the new board. Dr Kigoda said their appointment confirmed that it was important that they work together with the government and have.... Read more »

Posted on : Saturday , 17th January 2015

Tanzania: Mtwara Cement Plant to Offer 10,000 Jobs

OVER 10,000 people are expected to be employed directly and indirectly at the Dangote Cement Factory at Msijute area in Mtwara Region, which is slated to commence production in August.The factory, which is owned by Africa's richest person, Alhaj Aliko Dangote, has as well announced plans to improve social amenities in Mtwara region by constructing a state-of-the-art hospital, a modern marketplace, a school and a police.... Read more »

Posted on : Saturday , 17th January 2015

Tanzania seals new tax deal with mining firms

The Tanzanian government has signed an agreement with mining companies operating in the country.The agreement sets new terms for royalty payments, scrapping the 15 per cent value-added tax (VAT) relief and increasing the fees companies pay for services they get in the mining areas. AngloGold Ashanti and Geita Gold Mine were the first companies to sign the deal that replaces the Mining Development Agreement (MDA). Company.... Read more »

Posted on : Saturday , 17th January 2015

Arica the next Investment Hub

International businesses are still not very aware of Africa’s investment opportunities. Information costs are high: Africa is fragmented into many different countries, and even in aggregate the continent is a fairly small economy. For several decades, investor ignorance did not matter: with few exceptions Africa’s economies were too badly run for there to be many opportunities for firms of integrity. But there has been a sea.... Read more »

Posted on : Saturday , 17th January 2015

Kenya signs Sh25 billion deal with Japan for Mombasa port expansion

Japan will on Friday advance to Kenya a Sh25 billion loan to fund the second phase of Mombasa port expansion.The money, to be given through the Japan Bank for International Corporation (JBIC), is earmarked for the construction of a new container terminal by reclamation of the West Kipevu to create an additional 3 berths. “The proposed project includes construction of a new port access road connecting the new container terminal with.... Read more »

Posted on : Saturday , 17th January 2015

Norway, East Africa in talks for free trade agreement

NAIROBI, Jan. 15 (Xinhua) -- Norway and the East African Community (EAC) member states are set to hold exploratory talks on a comprehensive free trade agreement, a Norwegian diplomat said on Thursday.Norway's Ambassador to Kenya Victor Ronneberg told Xinhua in Nairobi that Norway and East Africa currently have a trade pact that will expire in 2021. "Both parties have expressed interest to have a trade deal along the lines of.... Read more »

Posted on : Saturday , 17th January 2015

Tanzanian project ventures into 3D printer development

A bilateral project supported by Finland in Tanzania: diversifying to hardware development that will start the business this year. The project implemented through Tanzania Science and Technology ( Tanzict) is taking giant leap into ambitious three - dimensional ( 3D) printer development at its innovation hub based in Dar es Salaam. Confirming the new developments, co-manager at Tanzict, Brian Paul says the venture into hardware will.... Read more »

Posted on : Saturday , 17th January 2015

Kenya�s cabinet approves joint venture in currency printing

Nairobi: The controversial money printing contract awarded to British currency printer De La Rue can now get underway.The approval from the cabinet brings to an end a decade-old stand-off over the lucrative deal. A communication from the cabinet meeting on Thursday indicated that the contract, which was first approved in 2011 by former President Mwai Kibaki’s government, can now proceed.“Cabinet approved a joint venture in.... Read more »

Posted on : Saturday , 17th January 2015

Finland Investing in hardware development in Tanzania

DARES SALAAM: A bilateral project supported by Finland in Tanzania is diversifying to hardware development business starting this year. The project implemented through Tanzania Science and Technology ( Tanzict) is taking giant leap into ambitious three - dimensional ( 3D) printer development at its innovation hub based in Dar es salaam. Confirming the new developments, co-manager at Tanzict, Brian Paul says the venture into hardware will.... Read more »

Posted on : Saturday , 17th January 2015

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