Market News Page No. 320| Africa Business News | Afrotrade

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China To Invest $823M In South African Auto Manufacturing

China’s government-owned Beijing Automobile International Corporation said it plans to invest $823 million in a new automotive manufacturing plant in Port Elizabeth, South Africa. The new facility in the Eastern Cape’s Coega Industrial Development Zone is expected to produce between 40,000 and 50,000 cars a year, with capacity to double in a later second phase, The Brics Post reported. This cars will be sold in South.... Read more »

Posted on : Friday , 26th August 2016

Kenya Power and Toshiba sign MoU in support of efforts to reduce electricity distribution losses

Nairobi, August 25, 2016……Kenya Power and Toshiba Transmission & Distribution Systems (India) Private Limited (TTDI) , subsidiary of Toshiba Corporation, have signed a memorandum of understanding (MoU) on implementation of a pilot project aimed at decreasing distribution losses in the national grid. The MoU will guide installation, testing and evaluation of equipment that will be supplied by TTDI, on a trial.... Read more »

Posted on : Friday , 26th August 2016

Continental Water Facility to Boost Hydropower and Irrigation in Tanzania

The African Water Facility (AWF) has granted Tanzania €2 million for a pre-feasibility study of a multi-purpose dam, irrigation and hydro-power project on the Ruhuhu River. The AWF is a multilateral fund that provides grants and technical assistance to governments, non-governmental organizations and private-public partnerships to enable them secure investments and implement sustainable water projects in Africa. It was.... Read more »

Posted on : Friday , 26th August 2016

Kenya: State House Holds Summit on Agricultural Development

The Kenya government on Monday played host to stakeholders from the agriculture sector at the State House. The summit entertained honest and critical exchange of ideas and feedback among the various stakeholders and government representatives. Discussions included mechanisation of the sector, automation of fertiliser distribution among other key issues. The event was attended by Agriculture Cabinet Secretary,.... Read more »

Posted on : Friday , 26th August 2016

Soil Manager App Launched to Support Farmers in Africa

Total Quality Assurance provider- Intertek, has launched a Soil Manager app that will give farmers across the continent access to a range of farming services. “There is a pressing need to support the agricultural sector in Africa in order to ensure food security. This app could revolutionize the way that farmers do business through linking farmers with fertilizer merchants and even by integrating sponsorship into the.... Read more »

Posted on : Friday , 26th August 2016

Japan and Kenya Set to Sign Investment Promotion Agreement

As part of efforts to boost economic growth and strengthen bilateral ties, the Government of Japan and the Government of the Republic of Kenya will on August 28, 2016, sign an agreement for the promotion and protection of Investment between both countries, The agreement is scheduled to be signed by Mr. Fumio Kishida, Minister for Foreign Affairs of Japan, and Mr. Henry K. Rotich, Cabinet Secretary for National Treasury of.... Read more »

Posted on : Friday , 26th August 2016

Tanzania Mulls Construction of Oil Trading Facility in Tanga

Tanzania’s Minister for Industry, Trade and Investments, Mr Charles Mwijage has disclosed plans by the government to construct an oil trading hub in Tanga to supply fuel to East and Central Africa.. The Minister said that the government had started working on an idea of an oil trading hub in Tanga as the region had great potential of becoming a major oil trading hub in East Africa due to its strategic geographical.... Read more »

Posted on : Friday , 26th August 2016

Kibo Mining recrafts Mbeya project agreement with SEPCO III

Kibo Mining has recrafted its agreement with SEPCO III for the construction of the Mbeya Coal to Power Project (MCPP) in Tanzania. SEPCO III would refund Kibo 50% of the development costs incurred, starting with US$1.8mln by 30 August. In return, it would acquire the right to be the sole bidder for the project. The pair would move to agree the remainder of the costs, said Kibo, adding a payment date must be agreed by 22.... Read more »

Posted on : Friday , 26th August 2016

Africa: Dar, Lusaka Review Legal Hitches to Revitalise Tazara

Tanzania and Zambia governments are reviewing Tanzania-Zambia Railway Authority (TAZARA) Act of 1995 to allow private investments in the joint-owned railway and make it run commercially. Addressing stakeholders of TAZARA in Dar es Salaam yesterday during a trilateral cooperation of Zambia, Tanzania and China to mark 40th Anniversary of the authority, Assistant Director in the Department of Monitoring and Evaluation from the.... Read more »

Posted on : Friday , 26th August 2016

State pledges free medical cover for Kenya's elderly from age 55 and above

All Kenyans aged 55 and above will be put on free medical insurance cover, Deputy President William Ruto said. The DP also said all babies delivered in hospitals will enjoy free medical cover for one year in a move aimed at reducing post-natal deaths in the first phase of a programme by the government to offer free medical services for all. Ruto, however, did not specify when the medical schemes will be rolled out,.... Read more »

Posted on : Friday , 26th August 2016

Kenya: India PM Appoints Kenyan-Born Patel to Head the Reserve Bank

New Delhi — The Indian government on Saturday named insider Urjit Patel as the new governor of the Reserve Bank of India, to replace popular central banker Raghuram Rajan when his term ends in September. "Dr. Urjit R Patel new Governor of RBI," Frank Noronha, principal spokesperson, Government of India posted on Twitter. The appointment of Patel, currently the RBI's deputy governor, ends weeks of feverish.... Read more »

Posted on : Friday , 26th August 2016

Kenyan innovators urged to enter $1 million healthcare award

Organisations with Kenyan innovations that are helping reduce child deaths should apply for this year’s Healthcare Innovation Award. The annual $1 million award by GSK and Save the Children, recognises innovations that are helping reduce child deaths in developing countries. This year’s award gives special attention to innovations that focus on the hardest-to-reach children. The innovations must also.... Read more »

Posted on : Friday , 26th August 2016

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