Market News Page No. 66| Africa Business News

East African Crude Oil Pipeline (EACOP) Project on Track

A request for a license to begin the construction of the East African Crude Oil Pipeline (EACOP) has been submitted to the government of Uganda by the company in charge of the project. According to Martin Tiffen, general manager of EACOP company they are ready to begin construction. The submitted application will be completed in 180 days, or before the end of the year, according to Honey Malinga, acting director of petroleum at the Ministry of.... Read more »

Posted on : Tuesday , 12th July 2022

ICIEC, Egypt, and AATB Pen Partnership Agreement To Boost Growth And Integration

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Arab Republic of Egypt, represented by the Ministry of Trade and Industry and two other partners of the Arab-Africa Trade Bridges (AATB) Program, have signed a Framework Agreement to increase economic integration and support sustainable growth in all Arab and African countries. The two-year Framework Agreement will focus efforts on trade promotion,.... Read more »

Posted on : Tuesday , 12th July 2022

EU's renewed trade ties with Africa will boost development

The European Parliament has passed a motion calling on the EU to elevate tech transfers and trade with Africa so the developing continent can move beyond the paradigm of mostly supplying cheap raw materials. Backing a report that advocates redressing imbalances left over from the colonial era, the multinational legislature signalled it wants to better equalize trade relations to enable Africa to move up the development and digital.... Read more »

Posted on : Tuesday , 12th July 2022

Rwanda Prepares for Construction of Muvumba Multipurpose Dam and Power Plant

Plans for the construction of a proposed Muvumba multipurpose dam and power plant installation are gearing up. The Rwanda Water Resources Board is therefore looking to prequalify contractors for the implementation of the project.The task includes the construction of a high dam with a spillway, intake tower, diversion/outlet culvert, upstream cofferdam, and a hydropower plant on the Muvumba River. The river flows through Nyagatare District and is.... Read more »

Posted on : Monday , 11th July 2022

Rwanda Prepares for Construction of Muvumba Multipurpose Dam and Power Plant

Plans for the construction of a proposed Muvumba multipurpose dam and power plant installation are gearing up. The Rwanda Water Resources Board is therefore looking to prequalify contractors for the implementation of the project.The task includes the construction of a high dam with a spillway, intake tower, diversion/outlet culvert, upstream cofferdam, and a hydropower plant on the Muvumba River. The river flows through Nyagatare District and is.... Read more »

Posted on : Monday , 11th July 2022

Abengoa Participates In Selection Method For Development Of Biggest Desalination Plant In Africa

The project, which will be situated in the Casablanca region of Morocco, will employ reverse osmosis technology to supply water for irrigation on about 5,000 hectares of land and have a capacity of 548,000 m3 per day, expandable to 822,000 m3. In partnership with Engie, Abengoa has provided the ONEE with all the papers necessary to be pre-qualified for the Casablanca-Settat desalination facility. Morocco: Abengoa is in the process of.... Read more »

Posted on : Thursday , 7th July 2022

Tanzania tests electric train on new SGR line, hits top speed of 160km/h

The Tanzania SGR hit a speed of 160Km/h compared to Kenya's SGR that uses diesel and can move up to 120Km/h.It is being expected that, once commissioned for service, the new SGR train should be able to travel at the velocity of 160 kilometers per hour, which is essentially twice the speed of an ordinary bus.The SRG line between Dar-es-salaam City and Morogoro Station measures 300 kilometers.On Sunday, Tanzania's Chief Government Spokesperson.... Read more »

Posted on : Wednesday , 6th July 2022

Tanzania, Kenya extend fastest trade growth run

Trade between Kenya and Tanzania extended its run as the fastest-growing in the region in the three months to March, reinforcing the gains of the ongoing elimination of non-tariff barriers.Data by the Kenya National Bureau of Statistics (KNBS) show that the pace of growth in both the import and export trade extended an impressive run since last year.This has seen the performance dwarf other East Africa Community (EAC) partners including Uganda.... Read more »

Posted on : Tuesday , 5th July 2022

Tanzania, China Bolster Diplomatic Trade Ties

AS trade relations between Tanzania and China continue to grow, the former is planning to open up another consulate in China's financial hub-Shanghai. Already, Tanzania has a consulate in Guangzhou, which is operating under the coordination of the Embassy situated in Beijing which is the administrative capital of China. This was revealed on 20th June 2022 by the Director General of African Affairs in the China Ministry of Foreign.... Read more »

Posted on : Friday , 1st July 2022

Tanzania Exports Up by 20% in YE March 2022, Tourist Arrivals Almost Doubled

The Bank of Tanzania (BOT) Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to USD 10,214.6 million during the year ending March 2022. This is +20.14 percent higher than US$ 8,502.1 million in a similar period in 2021. Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts. Exports of goods rose by 7.8 percent to USD.... Read more »

Posted on : Friday , 1st July 2022

AfricaConnect a Digital Initiative by Yara Tanzania.

One of the top importers, makers and distributors of fertiliser in the nation, Yara Tanzania, has introduced the AfricaConnect Initiative, a particular digital innovation aimed at rice farmers all over the nation. Hon. Anthony Mavunde, the Deputy Minister for Agriculture, praised Yara Tanzania during the introduction of the project for its ongoing efforts to provide various digital solutions for farmers and traders. "Your basic.... Read more »

Posted on : Tuesday , 28th June 2022

UK's investment initiative to rejuvenate Kenya's agricultural sector

Farmers in Kisumu can now sigh with relief as the County Government unveiled a major agriculture investment programme designed to revive the industry in collaboration with a UK-based company, United Green Group (UG). The sustainable agri-food initiative would give the local farmers access to agro-industrial infrastructure, farming services, and sustainable agricultural practises. Consequently, new markets for the farming communities in the.... Read more »

Posted on : Tuesday , 28th June 2022