Market News Page No. 308| Africa Business News | Afrotrade

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China Wu Yi to set up Sh10bn building materials plant

Chinese conglomerate China Wu Yi is building a Sh10 billion housing materials plant in Athi River after bagging major tenders in the country. The factory, expected to be complete in June, will manufacture precast materials that will also be sold to other construction firms. The multinational is putting up the plant through its locally incorporated subsidiary China Wu Yi Precast (Kenya) Company Limited. Its chairman Qiu.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania Central Corridor Railway Construction to Start in December 2016

The construction of Tanzania’s standard gauge railway (SGR) along the central corridor is set to start in December 2016. The 2,190km railway involves the construction of a SGR from Dar es Salaam-Tabora-Isaac-Mwanza, Tabora-Mpanda-Kalemela, Tabora-Kigoma and Uvinza-Isaac-Keza-Msongati. According to Makame Mbarawa, Tanzania’s Minister of for Works, Transport and Communications, the SGR project will be completed in 4 phases over.... Read more »

Posted on : Tuesday , 23rd August 2016

Epanko to Supply Tanzanian Graphite to Japan

Australian graphite developer Kibaran Resources (ASX:KNL) has recently signed an agreement with Japanese trading giant Sojitz for the supply of graphite from its Epanko project in Tanzania. According to the exclusive agreement, Kibaran will supply a minimum of 14,000t per year of natural flake graphite products from Tanzania to Sojitz over the next 5 years. Sojitz will distribute the graphite into Japan, Korea and Taiwan to the.... Read more »

Posted on : Tuesday , 23rd August 2016

Mnazi Bay Gas Production Improve in Q2 2016

East Africa-focused oil & gas company Wentworth Resources (OSE:WRL, AIM:WRL) announced improvements of gas production at Mnazi Bay in Q2 2016 by +6.25%. The Mnazi Bay achieved average gross daily gas production of 51m standard cubic feet (MMscf) per day in Q2 2016, compared to 48MMscf in Q1 2016 (+6.25%). This was indicated in Wentworth’s press release issued on August 16th 2016. Geoff Bury, Wentworth.... Read more »

Posted on : Tuesday , 23rd August 2016

Ethiopia: Sustaining Ethio-America Business Ties to Boost Exports, Increase Employment

It is significant to explore ways of foreign trade and investment that can help move Ethiopia to more vigorous participation in the global economy, and to the sustainable economic development that will enforce Ethiopia's progress to becoming a middle-income country by 2025. Since, some years ago, the U.S. companies look for a level playing field, with transparency that create a conducive environment to fair competition in African.... Read more »

Posted on : Tuesday , 23rd August 2016

African Health Ministers Eye Sh213bn Plan to Fight Outbreaks

Dar es Salaam — Health Minsters from 47 countries across Africa are considering a Sh213 billion funding to tackle more than 100 public health emergencies on the continent. The ministers, through the WHO Regional Committee for Africa, are expected to come up with policy commitments to support the regional strategy for health security and emergencies between 2016 and 2020 during a meeting scheduled to end Monday in Addis.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania: Beer Firm to Support Farmers

Mwanza — Tanzania Breweries Limited will invest 27bn/- to support farmers to boost production of local raw materials for beer, wine and spirits making. TBL Managing Director, Robert Jarrin said here last week that the funds would help barley, grapes, sorghum and maize farmers to increase their production of local materials for the beer making company which will in turn boost their growth. He said the farmers would be.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania: Cheap Loans Help Rice Growers Triple Output

Morogoro — Paddy productivity has almost tripled among Dakawa-based growers in the last one year after the farmers accessed the financial support that helped to adhere to recommended agricultural practices. Some of the group members at the Dakawa Irrigation Scheme in the region say the bank loan has enabled them plant on time and apply fertilizers and pesticides for the bumper harvests. The loans are extended to groups of.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania: India Appeals to Ease Restrictions on Tanzanite Export

India has appealed to Tanzania to lift the restriction imposed on export of tanzanite weighing over one gram and subsequently double its export tax as a measure to curtail illegal trade of the blue gemstone. Since Tanzania decided to ban export of raw tanzanite in 2012, it had sent shockwaves to gem and jewellery industries, especially those based in the northern Indian state capital of Jaipur, deemed the leading centre for cutting and.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania's President Magufuli orders officials to speed up LNG project

Tanzanian president John Magufuli ordered officials on Monday to speed up long-delayed work on a planned liquefied natural gas (LNG) plant, saying implementation of the project had taken too long. BG Group, recently acquired by Royal Dutch Shell, alongside Statoil, Exxon Mobil and Ophir Energy, plan to build a $30 billion-onshore LNG export terminal in partnership with the state-run Tanzania Petroleum Development Corporation (TPDC) by.... Read more »

Posted on : Tuesday , 23rd August 2016

East Africa: Minister Urges Private Sector To Participate Fully in EA Oil Pipeline for Benefit

Tanga — Minister of Energy and Minerals, Professor Sospeter Muhongo, has called on the private sector in Tanzania to take fully participation in a big multimillion East Africa Crude Oil Pipeline in order to benefit from it. Professor Muhongo gave the remark yesterday as he visited chongoleni area in Tanga city, the site where the crude oil from Kabale, Ohima District in Uganda will be received for exportation at Tanga.... Read more »

Posted on : Tuesday , 23rd August 2016

Invest in small farms to prosper

Rapid urbanisation, a youth bulge, and an expanding middle class are the hallmarks of Africa’s unprecedented transformation. Some of the world’s fastest growing economies are in sub-Saharan Africa. According to most Western leaders and aid agencies, the state of Africa is no longer “a scar on the conscience of the world”. Africa’s unprecedented transformation is also spawning new and urgent challenges, many.... Read more »

Posted on : Tuesday , 23rd August 2016

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