Market News Page No. 273| Africa Business News | Afrotrade

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Uganda: Investors Prepare Finance Plans As Uganda's Oil Sector Reawakens

A lot more attention is expected to be placed on how companies source for finance to invest in Uganda's oil industry after government created nearly all the necessary structures for an industry that has been quiet for far too long, writes EDWARD SSEKIKA. After three years of subdued activity, Uganda's oil and gas sector is back on track. Recent developments, where oil licenses have been issued and heads of institutions appointed,.... Read more »

Posted on : Wednesday , 21st September 2016

South Africa: Petra Performance Exceeds Expectations

PETRA Diamonds is projecting production to rise up to 24,3 percent in 2017 from a year earlier and grow further to hit 5 million carats (mcts) in 2018. This is a year earlier than anticipated. The projections are buoyed by a satisfactory performance in the year ended June 30. During the period, production up 16 percent to 3,7 Mcts (FY 2015: 3,2 Mcts), ahead of company guidance. Capital expenditure of.... Read more »

Posted on : Wednesday , 21st September 2016

Completion of Dodoma airport opens up Tanzania to more international business

The much touted construction of Dodoma airport is set to be complete this week, allowing the airport to receive up to ten flights from different countries per day up from three that it received before the renovation. This, coming at a time when the government finalizes plans to shift all its operation from Dar es Salam to Dodoma. According to air traffic controller at the airport Mr. Emmanuel Kisumo, the expansion also.... Read more »

Posted on : Wednesday , 21st September 2016

MPs ratify EPAs trade deal to save Kenya's exports to Europe

MPs yesterday put aside their political differences to ratify a trade agreement that will allow Kenyan traders free access to the European market. In a special parliamentary sitting, the lawmakers unanimously voted for the ratification of the Economic Partnership Agreement (EPA) between the European Union and the East African Community (EAC). This decision offers a ray of hope to Kenyan traders, especially those exporting.... Read more »

Posted on : Wednesday , 21st September 2016

Ethiopia: Raising Awareness of Farmers to Use Irrigation Water Efficiently

Many experts agreed that small scale irrigation is helpful for enhancing productivity and ensuring food security particularly in the drought areas. To reverse the impact due to the negative repercussion of extreme weather condition, farmers should try to practice irrigation with the support of extension workers. Dr. Tilahun Hordofa has carried out researches on the necessity of irrigation and drainage system at the Ministry of.... Read more »

Posted on : Tuesday , 20th September 2016

South African city upgrades to smart city LED lights

The city of Bloemfontein, South Africa, has embarked on a smart city initiative to upgrade its streetlight infrastructure over the next three years. It plans to deploy 18,000 luminaires from Echelon Corp, an independent control networking company for the Industrial Internet of Things (IIoT). Bloemfontein is generally regarded as the judicial capital of South Africa, being the seat for the Supreme Court of Appeal. It is also a.... Read more »

Posted on : Tuesday , 20th September 2016

Tanzania: Acacia Bullish of Mining Prospects

Acacia Mining reiterated its full-year production guidance for its Bulyanhulu mine and for the group as a whole, despite setbacks in resuming production at its processing plant at the former site following planned maintenance. Thanks to the strong performance to date at North Mara, one of its three mines in operation in Tanzania, the outfit still expected its total third quarter output to be in line with that of the first.... Read more »

Posted on : Tuesday , 20th September 2016

Cape Town goes green with street lights

Cape Town – The City of Cape Town’s investment in energy efficiency has led to almost 45 000 street lights being fitted with energy saving light emitting diode (LED) lights so far, the city said on Sunday. This included the recent successful retrofitting of 1100 street lights as part of a R3.8-million LED street lighting pilot in Burgundy Estate, Summer Greens, Eversdal, Bothasig, and Aurora. This had already lead to a.... Read more »

Posted on : Tuesday , 20th September 2016

Tanzania: Govt to Lease New Aircraft to ATCL

Dar es Salaam — Air Tanzania Company Limited (ATCL) will not own the two planes recently purchased by the government for a reported $47 million (Sh103.4 billion), it has emerged. The Citizen now understands that the airliners, the first of which is expected to be delivered this week, will be leased to the troubled national carrier. The planes will be owned by the Government Flight Agency (TGFA), which will lease.... Read more »

Posted on : Tuesday , 20th September 2016

East Africa: A Project That Link Up East African, African Society

Several neighbouring countries of Ethiopia are showing choice of fulfilling their electric power demand by purchasing from the country. Recently, Tanzania has announced readiness to sign 400 MW power purchase deal with Ethiopia. The project brings nations towards a consensuses of utilizing the river Nile water resource together considerately. An electric power transmission to neighbouring Kenya is on progress. Ethiopia is also spreading.... Read more »

Posted on : Tuesday , 20th September 2016

Meet the world's first vehicle that can be packed up and shipped like Ikea furniture

A philanthropist asked a racecar designer to make an all-terrain vehicle suitable for humanitarian missions in Africa. The result was the Ox, “the world’s first flatpack truck” — meaning it can be packed up into a flat box and shipped like Ikea furniture. The truck is absurdly simple to assemble: its designers claim that three people can break it down into 60 parts in just 12 hours. (Apparently no one.... Read more »

Posted on : Tuesday , 20th September 2016

Ethiopia to Raise $58 Million for the Construction of the Ethiopian Grand Renaissance Dam

Ethiopian authorities have announced plans to raise 1.8 billion Birr (about $58 million) for the construction of the Ethiopian Grand Renaissance Dam (GERD). The Office of the National Council for the Coordination of Public Participation for the GERD’s construction said the government plans to raise the money this fiscal year, the Ethiopian Herald reported. Funds for the 6,000 MW dam, which would be the biggest.... Read more »

Posted on : Tuesday , 20th September 2016

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