Market News Page No. 327| Africa Business News | Afrotrade

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Trade, Industry Critical for Africa's Development - African Union

Africa should prioritise trade and industrial sectors to address most of the prevailing challenges the continent faces, including the high rate of unemployment, to ensure sustainable development, Fatima Haram Acyl, the African Union (AU) commissioner for trade and industry, has said. "While everyone should work to ensure peace, food security, and creating more jobs for the youth, I believe all these can happen if we invest in trade.... Read more »

Posted on : Monday , 18th July 2016

Tanzania: Sugar Board Plans to Build 3 New Mini-Sugar Plants

Dar es Salaam — The Sugar Board of Tanzania (SBT) is planning to build three mini-sugar plants - with active involvement of local governments in Morogoro Region - within the next five years. The plants would be built in Kilosa, Kilombero and Mvomero districts, according SBT's five year Sugar Industry Development Plan. SBT has already carried out a pre-feasibility study for establishment of the mini-sugar plants in the.... Read more »

Posted on : Monday , 18th July 2016

UN Urges Tanzania to Focus On Agriculture to Boost Economy

Dar es Salaam — Tanzania's economy has been growing at a satisfactory rate but the country must promote several areas for the growth to have an impact on poverty reduction endeavours amid global uncertainties, the United Nations has said. In its Development Assistance Plan 2016 -2021 Report - which was launched in Dar es Salaam recently - the United Nations calls upon Tanzania to ensure that it puts emphasis on growth of areas.... Read more »

Posted on : Monday , 18th July 2016

Kenya Pipeline Company in Plans to Acquire Mombasa Refinery

The Kenya Pipeline Company (KPC) is searching for a consultant to help it assess the viability of the Mombasa Oil Refinery ahead of a planned acquisition. KPC had also earlier hinted to plans to convert the refinery into an oil storage facility as the government gears up for commercial oil production in 2017. "Kenya Pipeline Company Ltd invites sealed requests for proposals from eligible candidates for the provision of.... Read more »

Posted on : Monday , 18th July 2016

Tanzania: Sh26 Billion Warehouse to Boost Exports

Dar es Salaam — The minister for Agriculture, Livestock and Fisheries Development, Dr Charles Tizeba, officially launched the facility, together with an export space here on Tuesday. "There are locations for handling special cargo, with a 17 square metre room for live animals; a morgue that has a capacity of storing up to four bodies; 64 square metres for vulnerable items; 40 square metres for storage of valuable items; 12.... Read more »

Posted on : Monday , 18th July 2016

AFD, DTB to Support Investment in Renewable Energy Technologies

Small and medium enterprises (SMEs) that are interested in investing in renewable energy technologies will now receive soft loans from the French Development Agency through Diamond Trust bank (DTB). Agence Francaise de Development (AFD) and DTB have signed a credit agreement worth Shs 33bn to finance green energy projects in the country. Yves Boudot, the regional director for AFD in East Africa, said the soft loans are accessible to.... Read more »

Posted on : Thursday , 14th July 2016

Tanzania: India to Provide Massive Boost to Country's Industrialization Plans

Tanzania rolled out a red carpet to India's Prime Minister, Narendra Modi who arrived in Dar es Salaam on Saturday night in his five-day, four-nation tour of Africa to drum up business between India and African countries. The visit by the Indian leader is expected to provide a massive boost to Tanzania's industrialization strategy as the two countries agreed to deepen diplomatic and economic ties in agriculture, food security, trade,.... Read more »

Posted on : Thursday , 14th July 2016

Tanzania: India to Provide Massive Boost to Country's Industrialization Plans

Tanzania rolled out a red carpet to India's Prime Minister, Narendra Modi who arrived in Dar es Salaam on Saturday night in his five-day, four-nation tour of Africa to drum up business between India and African countries. The visit by the Indian leader is expected to provide a massive boost to Tanzania's industrialization strategy as the two countries agreed to deepen diplomatic and economic ties in agriculture, food security,.... Read more »

Posted on : Thursday , 14th July 2016

East Africa: Rift Valley Railway to Change Face of Transport in East Africa

The misleading reporting that has recently appeared in the press regarding Qalaa Holdings and its investment in Rift Valley Railways (RVR) has compelled us to respond to the blatant inaccuracies and to clarify any misunderstanding that may have occurred as a result of these false accusations. We clearly and unequivocally state that Qalaa Holdings is committed to adhering to the highest international business standards and to ensuring.... Read more »

Posted on : Thursday , 14th July 2016

Tanzania: Sh1.7 Trillion Foreign Boost for Green Energy Initiative

Dar es Salaam — Tanzania's newly launched renewable energy initiative has received a Sh1.7 trillion boost in pledges from foreign donors. Energy minister, Prof Sospeter Muhongo, said at the launch of the initiative yesterday that such pledges from foreign sources complement the government budget of Sh1.2 trillion for rural electrification projects countrywide. The donors are the European Union which pledged 108 million.... Read more »

Posted on : Wednesday , 13th July 2016

Tanzania: SE4ALL Initiative to Give New Boost to Energy Sector

The energy sector got yet another boost yesterday as the country launched its action agenda and investment prospectus for Sustainable Energy for All (SE4ALL) initiative by 2030. The inauguration of the document means that Tanzania has now shown more commitment to the global initiative, SE4ALL, which is the brainchild of the United Nations (UN). The SE4ALL is led by the UN Secretary-General Ban Kimoon, the aim being to achieve.... Read more »

Posted on : Wednesday , 13th July 2016

Tanzania: India Pledges Additional Funding to Support Priority Sectors

Indian Prime Minister Narendra Modi has said his country is willing to provide additional funding to the tune of over 1 trillion/- to support priority sectors in Tanzania. Police have warned that people who intend to disrupt the Special CCM National Congress planned for Dodoma late this month would face punitive action. Indian Prime Minister Narendra Modi ended his two-day visit in the country yesterday afternoon amid hopes of.... Read more »

Posted on : Tuesday , 12th July 2016

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