Market News Page No. 55| Africa Business News | Afrotrade

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Tanzania tests electric train on new SGR line, hits top speed of 160km/h

The Tanzania SGR hit a speed of 160Km/h compared to Kenya's SGR that uses diesel and can move up to 120Km/h.It is being expected that, once commissioned for service, the new SGR train should be able to travel at the velocity of 160 kilometers per hour, which is essentially twice the speed of an ordinary bus.The SRG line between Dar-es-salaam City and Morogoro Station measures 300 kilometers.On Sunday, Tanzania's Chief Government Spokesperson.... Read more »

Posted on : Wednesday , 6th July 2022

Tanzania, Kenya extend fastest trade growth run

Trade between Kenya and Tanzania extended its run as the fastest-growing in the region in the three months to March, reinforcing the gains of the ongoing elimination of non-tariff barriers.Data by the Kenya National Bureau of Statistics (KNBS) show that the pace of growth in both the import and export trade extended an impressive run since last year.This has seen the performance dwarf other East Africa Community (EAC) partners including Uganda.... Read more »

Posted on : Tuesday , 5th July 2022

Tanzania, China Bolster Diplomatic Trade Ties

AS trade relations between Tanzania and China continue to grow, the former is planning to open up another consulate in China's financial hub-Shanghai. Already, Tanzania has a consulate in Guangzhou, which is operating under the coordination of the Embassy situated in Beijing which is the administrative capital of China. This was revealed on 20th June 2022 by the Director General of African Affairs in the China Ministry of Foreign.... Read more »

Posted on : Friday , 1st July 2022

Tanzania Exports Up by 20% in YE March 2022, Tourist Arrivals Almost Doubled

The Bank of Tanzania (BOT) Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to USD 10,214.6 million during the year ending March 2022. This is +20.14 percent higher than US$ 8,502.1 million in a similar period in 2021. Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts. Exports of goods rose by 7.8 percent to USD.... Read more »

Posted on : Friday , 1st July 2022

AfricaConnect a Digital Initiative by Yara Tanzania.

One of the top importers, makers and distributors of fertiliser in the nation, Yara Tanzania, has introduced the AfricaConnect Initiative, a particular digital innovation aimed at rice farmers all over the nation. Hon. Anthony Mavunde, the Deputy Minister for Agriculture, praised Yara Tanzania during the introduction of the project for its ongoing efforts to provide various digital solutions for farmers and traders. "Your basic.... Read more »

Posted on : Tuesday , 28th June 2022

UK's investment initiative to rejuvenate Kenya's agricultural sector

Farmers in Kisumu can now sigh with relief as the County Government unveiled a major agriculture investment programme designed to revive the industry in collaboration with a UK-based company, United Green Group (UG). The sustainable agri-food initiative would give the local farmers access to agro-industrial infrastructure, farming services, and sustainable agricultural practises. Consequently, new markets for the farming communities in the.... Read more »

Posted on : Tuesday , 28th June 2022

In Africa, the recycling of plastic trash is picking up steam.

Food and beverage packaging is an important element of modern living, since it helps to assure food safety and prevent waste. However, the globe faces a packaging problem that demands a global solution. Coca-Cola Beverages Africa (CCBA), in collaboration with The Coca-Cola Company, has set ambitious goals to collect one bottle or can for every one it produces by 2030, use 50 percent recycled content in all packaging by the same year, and make 25.... Read more »

Posted on : Tuesday , 28th June 2022

Ethiopian Ambassador Meets Toyota Tsusho Corp Officials to Discuss Investment

Tefera Derbew, Ethiopia's Ambassador to Japan, met with Toyota Tsusho Corporation executives to examine business potential in the East African country. The ambassador met with Kazumasa Kimura, Executive Officer for New Business Development Africa Division COO of Toyota Tsusho Corporation, and Hiroumi Ohara, Manager of the Africa Division's power and infrastructure section. According to a statement from the embassy, Ambassador Tefera.... Read more »

Posted on : Tuesday , 28th June 2022

MetroTrans East Africa invests Sh389m in a fleet of FUSO buses

MetroTrans East Africa has spent Sh389 million on a fleet of 80 new FUSO buses in an effort to reduce public transportation demand in Kenya. The venture is a leasing partnership between National Bank of Kenya (NBK) and Simba Corporation as they attempt to address the increasing demand for public transportation as the population grows. Nairobi now has around three million residents and a daily population of 4.5 million people who must.... Read more »

Posted on : Tuesday , 28th June 2022

Proparco of France buys Sh3.7bn Naivas Supermarket stake

French sovereign wealth fund Proparco has acquired a $31.5 million (Sh3.7 billion) stake in supermarket chain Naivas as part of a consortium that will take a combined 40 percent ownership in the retailer. Naivas had earlier announced that Proparco, Mauritian conglomerate IBL Group, and German sovereign wealth fund DEG were taking a minority interest in the company without disclosing the details of the proposed transaction including the.... Read more »

Posted on : Tuesday , 28th June 2022

Tanzania Government Signs Natural Gas Deal with Shell and Equinor

The Government of Tanzania has signed a liquefied natural gas (LNG) framework agreement with energy giants Equinor and Shell, Reuters reported. The signing of the deal will expedite the start of the construction of a $30bn LNG export terminal. The deal is expected to pave the way for a final investment decision on the $30bn LNG export terminal by year 2025, the news agency quoted Tanzania’s Energy Minister January Makamba as.... Read more »

Posted on : Monday , 27th June 2022

Kenya’s Plan to Call The Shots in LPG Logistics

Kenya seeks to dominate in the supply of LPG by constructing the biggest import and storage gas facility in Mombasa and licensing more private companies to compete with Tanzania which has dominated the business for years in the region. The announcement to construct a 25,000 tonnes storage facility by the Kenya Pipeline Company (KPC) which will connect to the Sh42 billion new Kipevu Oil Terminal 2 (KOT) at the port of Mombasa comes few days.... Read more »

Posted on : Monday , 27th June 2022

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