Market News Page No. 267| Africa Business News | Afrotrade

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Tanzania on track to reach 7.2 pct growth target: central bank

Tanzania is on track to reach its economic growth target of 7.2 percent this year, the east African nation's central bank said Friday. The expected growth conflicts claims by some opposition members of parliament that the economy was headed for a recession. "Based on various indicators and trends, it is evident that Tanzania's economy is in good shape, raising hopes of reaching the target of achieving an annual gross.... Read more »

Posted on : Monday , 12th September 2016

Tanzania's gas-rich southern regions to join national electricity grid

The government of Tanzania said on Saturday it will connect the country's gas-rich southern regions of Mtwara and Lindi to the national electricity grid. Sospeter Muhongo, the east African nation's Minister for Energy and Minerals, told Parliament in the political capital Dodoma that the Tanzania Electric Supply Company (TANESCO) has started building a 132 KV transmission line. The two regions currently get electricity.... Read more »

Posted on : Monday , 12th September 2016

Kenya: Work Begins on Road Linking Malindi to Tsavo East Park

Construction of a road linking Malindi to the Tsavo East National Park has finally started. The tarmacking of road will ease travel via the Nairobi-Voi-Malindi route and boost tourism. President Uhuru Kenyatta and his deputy William Ruto had promised that the road will be tarmacked when they toured the area during the Malindi by-elections in March this year. President Kenyatta last Friday told residents at.... Read more »

Posted on : Monday , 12th September 2016

Kenya to adopt global auditing standards to attract investors

Kenya plans to adopt international financial auditing standards in order to boost the country’s attractiveness to foreign investors, accountancy regulator said on Thursday. Institute of Certified Public Accountants of Kenya (ICPAK) CEO Patrick Ngumi told a finance forum in Nairobi that all publicly listed companies will be required to implement the standards after January 2017. However, those companies whose.... Read more »

Posted on : Monday , 12th September 2016

Magnis Resources Ltd produces high quality graphite from Tanzania

Magnis Resources Ltd (ASX:MNS) has demonstrated the use of flake concentrate from the Nachu Graphite Project in Tanzania for the production of spherical graphite for lithium ion batteries. The company used milling equipment in Europe to process flake concentrate produced from composite diamond drill core to ensure a representative sample of the ore body. Importantly, no chemical or thermal purification was used in the.... Read more »

Posted on : Monday , 12th September 2016

Africa: Quality Seed Key to Boosting Farm Yields

Nairobi — Quality seed is the biggest game changer for agriculture in Africa helping countries to boost farm yields to secure food security and development, according to Alliance for a Green Revolution in Africa (AGRA) top official. Dr Joseph Devries, AGRAs chief of agricultural transformation told reporters during a media tour of Dryland Seed's field projects in Machakos County, south-east of Nairobi, that evidence shows.... Read more »

Posted on : Monday , 12th September 2016

Kenyan forum pledges fund, commitment to transform Africa's agriculture

The 6th African Green Revolution Forum concluded in Nairobi on Friday, with delegates endorsing a communique to hasten agricultural transformation in the continent. About 1,500 delegates from 40 countries, including heads of state, industry executives, and heads of donor agencies and researchers, attended the forum that sought to inject fresh impetus into the quest for a green revolution in Africa. The communique said.... Read more »

Posted on : Monday , 12th September 2016

Transport firm Express Kenya now goes into real estate

Transport and warehousing company Express Kenya says low interest rates will boost its entry into the real estate business, even though it has been in the red for three years now. The firm, which lost its main logistics business line with East Africa Breweries Ltd three years ago — forcing it to lease out its fleet and equipment — has rolled out plans to construct a housing estate. “The company is in the.... Read more »

Posted on : Monday , 12th September 2016

Sh38b managed medical project now bearing fruit for Kenyans

In 2013, the national government came up with an ambitious plan to equip county hospitals in partnership with county governments. After a protracted back and forth, governors agreed to sign the deal totalling Sh38 billion. Migori Senator Wilfred Machage moved a motion requiring the establishment of level five and level four health facilities in each county before the term of the current government expires. This gave rise to Managed.... Read more »

Posted on : Monday , 12th September 2016

Kenya to donate Sh500m to global fund to fight HIV, TB and malaria

Kenya will donate Sh500 million towards the Global Fund kitty to fight HIV and Aids, tuberculosis and malaria. According to State House spokesman Manoah Esipisu President Uhuru Kenyatta will announce the donation during the 5th Global Fund Replenishment Conference to be held in Montreal, Canada, on September 16 and 17. Mr Esipisu said Uhuru had been invited by Canadian Prime Minister Justin Trudeau whose country will also.... Read more »

Posted on : Monday , 12th September 2016

Power from recycled water lights up Kirinyaga businesses

The mention of recently concluded Sixth Tokyo International Conference on African Development (Ticad VI) sends the thoughts of many to Nairobi city, which has recently become a favourite destination for international meetings. However, as a side event during that conference, some delegates toured Kirinyaga County in central Kenya. Like Nairobi, the sleepy Nyakiungu and Kiuria villages should have been as popular, at least.... Read more »

Posted on : Thursday , 8th September 2016

How bamboo farming galvanises the Made-in-Rwanda campaign

It might be a policy in Rwanda that bamboo trees are fully integrated into forestry and overall development strategies, but a section of society still feels that little attention has been paid regarding bamboo’s potential to offer solutions to the country’s employment challenges. Jean Bosco Uwizeyimana, the managing director of Bambousa Ltd, said a public-private partnership in the management of bamboo plantations in.... Read more »

Posted on : Thursday , 8th September 2016

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