N e w s

Tanzania: Firm Injects U.S. $2 Million in Packaging Industry

Mwanza — MWANZA - BASED Falcon Packaging Ltd has injected two million US dollars in the packaging industry in a strategic drive geared to complement government-backed initiatives aimed at improving the performance of business and industrial sectors.   The investment is for production of well-designed packaging materials for domestic and industrial uses. "We have decided to come up with high quality packaging materials which can.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Invest in Industries, Pension Funds Told

 Arusha — As Tanzania treads its path to industrialisation, social security funds have been urged to invest in industries.   The minister of State in the Prime Minister's Office (Policy, Parliament, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama, says industrialisation forms a fundamental linchpin to the fifth phase government's plans for the country's economic transformation   Ms Mhagama said this on.... Read more »

Posted on : Wednesday , 24th August 2016

Exponential Growth Projected in the Medical Tourism Industry

 In simple words, the term Medical tourism means the act of traveling to another country in search of better, affordable and sustainable medical treatment. This can be either because the treatment in question is unavailable in the home country, is expensive or illegal. While conventionally this kind of travel was from the less developed to high developed nations for medical treatment, the trend has in recent past taken a new twist with.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya Energy Sector: Sollatek Electronics Incentives Solar Entrepreneurs

 Sollatek Electronics latest project "Sollatek Direct: Solar Entrepreneurs in Kenya" has been selected by Energy and Environment Partnership (EEP) to received EUR 250.000 from the Ministry of Foreign Affairs of Finland, the Austrian Development Agency and the UK Department for International Development. The total project cost is over EUR 650.000, of which EEP has funded 40%, while Sollatek funds the remaining 60%. This project's.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzanian solar energy provider secures US$18mn

 Tanzania-based solar energy provider Off Grid Electric (OGE) has received a total funding of US$18mn for its operations in East Africa.   The financing is provided by two funds in a combination of equity and debt, with US$10mn coming from Helios Investment Partners, a pan-African investment firm, and US$8mn in debt financing from responsAbility, Swiss-based asset managers specialising in development-related sectors of emerging.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Acacia Mining Profit Up As Gold Prices Rise

 Acacia Mining profit in the first half of 2016 have soared as gold prices and sales surged while operating costs fell.   The gold mining company, which operates three mines in Tanzania, said in a statement its earnings before interest, tax, depreciation and amortisation for the six months to June 30 rose 91 per cent to 184.9 million US dollars, helped by lower costs and higher gold sales.   The gold miner, said it was now.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya: Japanese Firm to Build Organic Waste Processing Plant in Meru

A Japanese company has started talks with the Meru County government to establish an organic waste processing plant in the county.   Meiwa, a company that converts organic waste into charcoal through biomass carbonisation technology intends to set up in Meru before moving to other parts of the country.   Speaking when he met Meru Governor Peter Munya on Monday, Meiwa International manager Takeo Tokunari said the technology provides.... Read more »

Posted on : Wednesday , 24th August 2016

South Africa: Trade and Industry On Biggest Automotive Investment in Africa

The Coega Development Corporation signs a historic R11 billion investment with the Beijing Automobile International Corporation (BAIC), the biggest automotive investment in Africa in the last 40 years   The Coega Development Corporation (CDC), operator of the 11 500 hectares of the Coega Industrial Development Zone (IDZ), has successfully concluded a deal with BAIC of R11 billion for a completely knocked down (CKD) automotive.... Read more »

Posted on : Wednesday , 24th August 2016

South Africa: Platinum Producer Records Solid Performance

 OPERATIONAL flexibility and stability, underpinned by sound strategy enabled Royal Bafokeng Platinum deliver strong operational and financial performance for the first half of 2016.   Net revenue increased by 15,8 percent from R1,422 billion in the first half of 2015 to R1, 646 billion for the reporting period due to a 9 percent increase in the average rand basket price to R19 680 per platinum ounce in the first half of 2016,.... Read more »

Posted on : Wednesday , 24th August 2016

Oil & Gas Africa: Kenya Plans Oil Export By Mid Next Year

Kenya could be exporting 4,000 barrels of oil daily by mid next year, after President Uhuru Kenyatta led the country’s cabinet in approving the oil commercialization plan by the Ministry of Energy, on Thursday last week.   The initial plan targets 2,000 barrels daily as the biggest economy in East Africa seeks to break away from her dependence on agriculture and tourism as the main foreign exchange earners.   The crude oil.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya: Cabinet Okays Plans to Produce Crude Oil in Lokichar

A special Cabinet meeting on Thursday approved plans to start production of 2,000-4,000 barrels of crude oil in Lokichar that will be transported by both rail and road to Mombasa for refining.   With the country getting ready to full commercial exploitation of oil, discovered in Turkana County by Tullow Oil in 2012, plans are in motion to establish business and infrastructure to market the product abroad.   Therefore, the.... Read more »

Posted on : Wednesday , 24th August 2016

India turns to Africa to fuel its auto industry

Indian automakers are slowly tightening their grip on new car exports to Africa as they square off with China, Korea and Japan for opportunities in the continent. Multinationals from emerging economies are hungry to go global, and in the past decade have been racing to the continent to fuel their growth. While Africa still sources the bulk of its new vehicles from traditional markets in Europe and America, India has been making pronounced.... Read more »

Posted on : Wednesday , 24th August 2016



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