Market News Page No. 574| Africa Business News | Afrotrade

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Tanzania eyes 2 million tourist arrivals by 2017

The number of tourists visiting the country is expected to double to 2 million by 2017, according to the Tanzania Tourist Board (TTB). “We expect to reach 2 million tourist arrivals by 2017,” Reuters news agency quoted TTB acting managing director Devota Mdachi as saying at the weekend. “With more international airlines flying into Tanzania ... improved infrastructure, increased tourism investments and.... Read more »

Posted on : Tuesday , 16th September 2014

Tanzania becomes Kenya s largest East Africa market

Tanzania has edged past Uganda as Kenya’s largest export market in East Africa as a result of the ongoing elimination of non-tariff barriers and increasing local production in Uganda of goods that were previously imported. Uganda has traditionally been Kenya’s top trading partner in the region, but latest data from the Kenya National Bureau of Statistics (KNBS) ranked the country third, with Tanzania coming second. Uganda was.... Read more »

Posted on : Tuesday , 16th September 2014

Land and tree incentives entice Kenyan farmers to save forests

KAKAMEGA, Kenya (Thomson Reuters Foundation) - A Kenyan government plan to increase the country's forest cover by giving local people incentives to plant and preserve trees is paying off, resulting in more productive farmers and a landscape better able to cope with the changing climate. “We had targeted 4.7 percent forest cover by 2015, but we are already at 6.99 percent,” said John Wanyiri, deputy director of the Kenya Forest.... Read more »

Posted on : Tuesday , 16th September 2014

African countries agree to curb illegal timber trade in the Congo Basin

A breakthrough for sustainable and legal development of the wood industry. Governments from Africa's main timber producing countries, together with timber industry representatives and civil society organizations agreed to jointly combat illegal timber trade in the Congo Basin, FAO said today following an international wood industry meeting in Brazzaville. Covering an area of 300 million hectares, the Congo Basin harbours the world's.... Read more »

Posted on : Tuesday , 16th September 2014

Solar Industry in Africa: Moving Consumers Up The Energy Ladder

After successfully catalyzing the market for clean, affordable solar lighting products in the unelectrified, largely rural areas of Africa, the Lighting Africa program is moving up the energy ladder to support products that provide a wider range of energy services, beyond lighting and cellphone charging. This expansion into larger systems is prompted by consumer and industry demands, as well as rapid development of new technology, and the.... Read more »

Posted on : Tuesday , 16th September 2014

Solar power taking center stage in the midst of SA energy crisis

With corporate and industrial energy management on the rise in South Africa, PV is set to play a huge part in the movement towards energy efficiency. Trina Solar Limited, a global leader in photovoltaic modules, solutions, and services, has entered the South African market at an opportune time, with the sun-drenched country in the midst of an ongoing energy crisis. With unreliable energy supplies costing the economy billions,.... Read more »

Posted on : Tuesday , 16th September 2014

Egypt to tender five US$ 2.8 b new technology parks project

The government of Egypt has unveiled plans to tender five projects to construct modern technology parks across the country at an estimated US$ 2.8 b to boost its revenues. This follows planned issuance of a unified landline and mobile telecoms licenses. Egypt’s Minister of Communications and Information Technology (MCIT), Mr. Atef Helmy, confirmed the planed issuance of the bids for the five projects. Mr Helmy also said that the.... Read more »

Posted on : Tuesday , 16th September 2014

Chinese firms to construct the new US$ 700m Gebba River Dam, Ethiopia

The Ethiopian Government has awarded a contract for the construction of a new Gebba River Dam. The cost of the contract is US$700m. It will be built along Gebba River, near the border of Jimma and Illubabur zones of the Oromia Regional State. The contract for the new Gebba River Dam was awarded through the Ethiopian Electric Power Corporation (EEPCo), which is mandated to producing, transmitting, distributing and selling electrical energy in.... Read more »

Posted on : Tuesday , 16th September 2014

Tanzania: As Dar Port Gets Sh800 Billion for Expansion

A MEMORANDUM of Understanding (MoU) between Tanzania Ports Authority (TPA), Ministry of Transport and World Bank, UK's Department for International Development (DFID) with Trade Mark East Africa has been signed for a 500 million US dollars (over 800bn/-) financing for Dar es Salaam port expansion and modernisation. The MoU signing ceremony was witnessed by Transport Minister, Dr Harrison Mwakyembe and visiting World Bank Managing Director.... Read more »

Posted on : Tuesday , 16th September 2014

Algeria postpones oil and gas bids to accommodate foreign companies

The government of Algeria has confirmed postponement of the oil and gas bids for its plants till end of September this year. This comes after the government submitted to the request by international energy companies to delay the process further, to allow some foreign more time to assess the potential of all the fields. ALNAFT, an energy agency that is handling bids said earlier this year June that the delay would be.... Read more »

Posted on : Monday , 15th September 2014

Nigeria: China Indicates More Interest in Nigeria's Oil, Gas

MR Liu Kan, the Consul-General of the Consulate General of People's Republic of China in Lagos, on Thursday expressed his country's growing interest in Nigeria's oil and gas industry. Liu told the News Agency of Nigeria (NAN) in Lagos that China would also depend on Nigeria to satisfy the demand of her increasing population for crude oil and gas. "China is the most populous nation in the world and her demand for oil.... Read more »

Posted on : Monday , 15th September 2014

Ethiopia: New UK Company Acquires Oil Exploration Blocks in Ogaden

A new UK-based company, Delonex Energy Limited, two weeks ago acquired oil exploration blocks in the Ogaden basin, in eastern Ethiopia. Delonex Energy is an oil and gas exploration company focused on sub-Saharan Africa. In a statement issued on August 25, Delenox Energy said that the Ethiopian Ministry of Mines had awarded it an exploration license in the Ogaden basin. The license area covers blocks 18, 19, and 21,.... Read more »

Posted on : Monday , 15th September 2014

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