Market News Page No. 73| Africa Business News | Afrotrade

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Tanzania Gold and Minerals Exports Go up In January 2021

The Bank of Tanzania released its Monthly Economic Review – Feb 2021, indicating that the total exports of goods and services amounted to US$ 8,741.8 million in year ending January 2021, representing a slight decrease from US$ 9,835.5 million recorded in the corresponding period in 2020. Traditional exports amounted to US$ 705.4 million from US$ 959.7 million, accounting for 8.1 per cent of total exports. Non-traditional exports.... Read more »

Posted on : Thursday , 1st April 2021

Going Green: Volkswagen Rwanda Debuts a New Motor Charging Station

Volkswagen Mobility Solutions Rwanda unveiled a new charging station on Tuesday, March 30, thanks to a collaboration between the firm, Siemens, and Radisson Blue Hotel.The new facility, located at the Kigali Convention Centre, is the second of its kind, following the one built in the Kigali Special Economic Zone.The new station, according to Serge Kamuhinda, CEO of Volkswagen Mobility Solutions Rwanda, is a move toward more environmentally.... Read more »

Posted on : Wednesday , 31st March 2021

Global Recycling Day Reminds East Africa to Grow Economy

The Global Day of Recycling, celebrated on 18 March, offered the opportunity to reflect on how the prosperity of Africa should be promoted through inclusive growth of economies, while reducing the environmental impact of packaging waste. Coca-Cola Beverages Africa (CCBA) has made its aggressive recycling targets a top business priority, along with key success indicators for growth and profitability, according to Coca-Cola Chief Executive.... Read more »

Posted on : Wednesday , 31st March 2021

Mass Timber set to influence construction and design in South Africa

With the construction industry moving towards modular construction, the University of Pretoria (UP) Graduate School of Technology Management senior lecturer Schalk Grobbelaar stated that mass timber is one of the few building materials that ticks the boxes in terms of being cost effective, dependable, sustainable and quick construction. Mass timber has developed into a profitable building material for manufacturers and construction.... Read more »

Posted on : Wednesday , 31st March 2021

Ethiopia & Korea Sign 32 million USD Grant Agreement

Ethiopia and South Korea have signed a grant agreement worth 32 million USD, which will assist Ethiopia in achieving its development goals based on the Ten Year Prospective Plan and the SDGs. Yasmin Wohabrebbi, State Minister of Finance, and Kim Dong Ho, Country Director of the Korea International Cooperation Agency (KOICA), signed the deal. According to the agreement, KOIKA will provide funding for three projects in Ethiopia over the.... Read more »

Posted on : Tuesday , 30th March 2021

Japanese firm launches $15m African startup fund, reveals 5 investments

Uncovered Fund, a venture capital company focused on early-stage entrepreneurs in Africa, announced today the opening of its $15 million fund, which is set to close at the end of June this year. Takuma Terakubo's Tokyo-based firm, established in 2019, will invest $50,000 to $500,000 in African startups in the seed and Series A phases. Uncovered Fund invests in retail, fintech, health tech, logistics, MaaS, agritech, and smart city startups.... Read more »

Posted on : Tuesday , 30th March 2021

Kenyan Entrepreneur moulds unwanted Plastic into Bricks

Plastic waste from factories and businesses is turned into extremely powerful paving bricks by a Nairobi-based social enterprise. Nzambi Matee founded Gjenge Makers after becoming frustrated with how little was being done to address the pressing issue of plastic pollution in her country. Her and her team were named Young Champions of the Earth for 2020 by the United Nations Environmental Programme for their resilient building.... Read more »

Posted on : Tuesday , 30th March 2021

Kalro receives Sh300,000 in EU funding to improve food security

The European Union has given the Kenya Agricultural and Livestock Research Organization Sh300 million to help with food security. The funds will also be used to expand research and the use of climate-smart technology in the fight against climate change. The AgriFI Kenya Climate Smart Agricultural Productivity Project will introduce the five-year programme. The sub-grants would help at least 19 groups of farmers along the coastal.... Read more »

Posted on : Tuesday , 30th March 2021

Africa May Play a Central Role in India's Oil Diversification - Dharmendra Pradhan

African countries could play a key role in India's efforts to diversify its oil and gas sources, according to the country's oil minister on Wednesday, as the country seeks to reduce its dependence on the Middle East.After OPEC+ agreed earlier this month to largely maintain production cuts in April, India, the world's third largest oil importer, has asked state refiners to accelerate the diversification of oil imports in order to progressively.... Read more »

Posted on : Tuesday , 30th March 2021

Ethiopia plans to use iodine to transform clouds into rain.

Ethiopia's government intends to use iodine-based cloud collection technology to increase agricultural production and achieve food self-sufficiency. According to Prime Minister Abiy Ahmed, a group of experts will use the technology in the coming two months to collect clouds and turn rainfall. He commented on the future of Ethiopia's tourist attraction in the southern part of the country during a meeting with its ministers in Koisha. In.... Read more »

Posted on : Monday , 29th March 2021

Solar Technology Helps Women Farmers in Tanzania Cut Post-Harvest Losses

Women farmers in Tanzania have harnessed solar technology to reduce post-harvest losses, improving food security, panellists learned at an Afdb event held in February to launch its Gender and Energy brief on the status of gender mainstreaming in Tanzania’s energy sector. The brief targets to provide recommendations that will inform policy making by government and other shareholders. Increasing gender equality in access to energy is also.... Read more »

Posted on : Monday , 29th March 2021

Kengen Announces 9% Profit Increase nn Year Ended 31 December 2020

Kenya Electricity Generating Company PLC (KenGen) has announced a 9 per cent profit increase in its half-yearly unaudited financial results for the period ended 31 December 2020. The company's profit before tax grew from Ksh 6.2 billion ($55 million) to Ksh 6.8 billion ($64 million), states a company statement. KenGen co. states that revenue from geothermal operations continued to show a growth trajectory, recording a growth of 14 per.... Read more »

Posted on : Thursday , 13th May 2021

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