Market News Page No. 270| Africa Business News | Afrotrade

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Equity firm Fanisi targets Sh10 billion in fundraising for regional investments

Fanisi Capital, a private equity firm targeting start-ups, aims to raise between Sh7.6 billion ($75 million) and Sh10.13 billion ($100 million) in the second round fundraising for regional investments. The fund targets enterprises in Kenya, Rwanda, Tanzania and Uganda. Chief executive Ayisi Makatiani said the Fanisi Capital Fund II hopes to generate up to $40 million (Sh4 billion) locally, with the rest coming from international.... Read more »

Posted on : Thursday , 13th October 2016

Rwanda cheapest for solar home systems

With only $6.5/month for two years and with no down payment, Rwandan consumers have the possibility to acquire high quality certified solar home system worth over $150 with four lights, a phone charger and a radio. Energy opportunity As a result of customer-centric project design, in collaboration with Energy Development Corporation Limited (EDCL) that uses large scale operations and a unique delivery model in collaboration.... Read more »

Posted on : Wednesday , 12th October 2016

Ethiopia: Attracting Many More Investors in Forestry

Forestry investment is one of the untapped investment opportunities in Ethiopia. Obviously, investment in forestry could yield attractive returns to all actors and contribute substantially to the economic, social and environmental development of countries. Yes, in line with the existing core values of nurturing and caring for forest ,environmentally and socially conscious investors are actively exploring the "ins and.... Read more »

Posted on : Wednesday , 12th October 2016

Esse Pumped About Airless Packaging System for Probiotic Skincare Line

Striking packaging is helping South Africa-based Esse successfully launch its Esse Probiotic Serum skincare line. Esse uses innovative production techniques, airless glass packaging and a preservative-free formula for its Probiotic Serum, which launched in 2015 as what the company says is the world's first live probiotic serum. The probiotic microbes are encapsulated and suspended in an oil base, reanimating and dividing when they.... Read more »

Posted on : Wednesday , 12th October 2016

PSA Makes Europe Player in Ethiopian Auto Industry

French automaker PSA Group turns to Ethiopia to launch assembly of Peugeot 2008, 301 and 208 models. PSA opened the new $1.2 million assembly plant in partnership with Mesfin Industrial Engineering, a local business that built the factory in Tigray in the northern region of the East African country. It is expected initially to assemble 1,200 vehicles yearly for sale to Ethiopia’s growing car market and to neighboring.... Read more »

Posted on : Wednesday , 12th October 2016

Kenya: Govt to Tap Solar Energy in Arid Counties for Use in Schools

The government says it will exploit solar energy potential in Marsabit and other arid and semi-arid counties for affordable and safe energy. Environment Principal Secretary Charles Sunkuli said the government will tap renewable energy to realise the digital literacy programme (DLP) and protect the environment. Commissioning the DLP project at Korr primary school, Marsabit County on Friday, Mr Sunkuli said the government.... Read more »

Posted on : Wednesday , 12th October 2016

S.African construction firms to pay $90 mln into sector's development fund

Six South African construction companies will contribute a total of 1.25 billion rand ($90 million) over the next 12 years towards a fund to develop skills in the sector and give black workers a bigger role, a cabinet minister said on Tuesday. Economic Development Minister Ebrahim Patel said the voluntary contribution would be in addition to a 1.4 billion rand penalty imposed by antitrust authorities on the sector in 2013 for.... Read more »

Posted on : Wednesday , 12th October 2016

Dangote to become oil and gas giant in Africa

Dangote Group of Companies, renowned in the production and distribution of cement in the West African sub-region are now wading into the oil and gas sector and is envisaged to have the largest oil refinery company in Africa. The $ 16 billion world class refinery/ Petrochemical complex comprise a refinery, petrochemical and fertilizer plants. This came to light when Mr Anthony Chiejina, Chief Corporate Communications Manager of.... Read more »

Posted on : Wednesday , 12th October 2016

Africa Mining Vision Plays a Critical Role in Region's Development Trajectory

Accra — Participants of the Second Africa Oil Governance Summit unanimously recognized that the African Mining Vision could facilitate Africa's accelerated development through value linkages and regional integration. The annual Summit is a gathering of key players of Africa's oil industry and it serves as platform to engage around the governance of the oil and gas resources to transition oil-producing countries onto an.... Read more »

Posted on : Wednesday , 12th October 2016

Tanzania: 84,000 Acres of Land for Young Entrepreneurs

Simiyu — Seventy two district councils here have allocated 84,037 acres of land to young entrepreneurs to run businesses. This was revealed here on Sunday by Minister of State in the Prime Minister's Office (Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled) Jenista Mhagama. Speaking in Bariadi ahead of this year's National Youth Day, Ms Mhagama ordered other districts in the country to follow.... Read more »

Posted on : Wednesday , 12th October 2016

Tanzania: Minister Defends Medical Stores Department

Dar es Salaam — Health Minister Ummy Mwalimu on Monday defended the monopoly of the Medical Stores Department (MSD). The minister said the agency must remain the country's sole authority for procuring and supplying medical supplies, instead of creating "competing agencies" in the distribution chain. She said a commissioned study saw no need for the government to allow an alternative supplier of drugs and.... Read more »

Posted on : Wednesday , 12th October 2016

New deal offers hope to cotton farmers

Cotton farmers are set to benefit from a contract signed by revived textile firm, Rivatex East Africa and Meru Ginnery. Under the deal, Meru Ginnery will get its primary supply of seed cotton from Bura farmers. It will then process this seed cotton to derive cotton lint, which will be sold to Rivatex. The textile firm last year received Sh503 million from the Ministry of Industrialisation and Enterprise Development to buy new.... Read more »

Posted on : Wednesday , 12th October 2016

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