Market News Page No. 221| Africa Business News | Afrotrade

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Rwanda: Environment Authority Mulling Creation of Artificial Lake at Gikondo Industrial Zone

An artificial lake could be created in former Gikondo Industrial Zone in Kigali once the relocation of all the factories there to the Special Economic Zone is completed, Rwanda Environment Management Authority (REMA) has said. Although she could not give more details, Annette Karenzi, the director-general of industry and entrepreneurship at the Ministry of Trade, Industry and EAC Affairs, told The New Times that the first phase of.... Read more »

Posted on : Tuesday , 7th February 2017

Egypt: Parliamentary Health Committee Agrees to Discuss Development of Small Medical Units

The parliamentary Health Committee agreed to hold meetings in participation with all concerned parties to develop 377 small medical units across 16 governorates in the next period. Member of the committee Samy El-Mashad said that the committee summoned the Minister of Health Ahmad Emad El-Din on Monday and three scenarios for the development were presented. The first would put the Ministry of Health in charge of carrying out.... Read more »

Posted on : Monday , 6th February 2017

Egypt: Country on Track After Currency Flotation, Drug Shortage to be Resolved Soon - PM Ismail

Prime Minister Sherif Ismail said that Egypt is on the right track after the Egyptian pound’s flotation which contributed to correcting the economic path of the country. Egypt had suffered from political and economic instability over the past six years which has led to the diminishment of the inflow of US dollars to the country, because the inflow of foreign investment and tourism decelerated, along with the weakness of.... Read more »

Posted on : Monday , 6th February 2017

Egypt: Prices of 3000 Drugs Increased by Health Ministry

The Ministry of Health announced on Tuesday that it has increased the prices of 3,000 drugs, of which about 300 drugs are against chronic diseases. Minister of Health Ahmed Emad El-Din said in a statement that the ministry has agreed with pharmaceutical companies to move up the prices of 15% of local drugs and 20% of foreign drugs (totaling 3,000 drugs), out of 12,000 drugs in the market. Emad El-Din added that the new increase.... Read more »

Posted on : Monday , 6th February 2017

IMF support boosts investor confidence in Egypt

More details have emerged regarding Egypt’s ambitious programme of economic reform, as the country remains on course to receive the next allocation of a $12bn loan from the IMF to support its efforts. On January 18 the IMF mission chief for Egypt, Chris Jarvis, told a news conference that the country was set to receive the $1.25bn second tranche of its three-year loan from the fund, pending a review planned for the end of.... Read more »

Posted on : Monday , 6th February 2017

East Africa: Tanzanian, Ugandan Heads of State to Discuss EU Economic Partnership Agreement

Uganda's President Yoweri Museveni and Tanzania's President Dr. John Magufuli will meet February to agree on East Africa's way forward on the controversial Economic Partnership Agreement (EPA). The EPA is supposed to be negotiated between the EU and member states of the East African Community (EAC). Kenya and Rwanda have already signed the deal but it won't be operational until all the East African Community member states sign the.... Read more »

Posted on : Monday , 6th February 2017

Africa Remains Continent of Hope - UN Secretary General

UN Secretary-General António Guterres says Africa remains a continent of hope in spite of the obvious crises and underdevelopment currently ravaging the region. Guterres, in a commentary entitled: "A Continent of Hope", following his visit to the region on Monday to participate at the 28th Summit of the African Union in Addis Ababa, said there are many success stories in Africa apart from crises and.... Read more »

Posted on : Monday , 6th February 2017

Tanzania: Govt Introduces Low Volume Roads Manual to Reduce Construction Costs

THE Government has launched a manual for low volume roads (LVR 2016) to cater for the design of new or upgrading of existing unpaved roads with a capacity of not more than 300 vehicles a day in a move to significantly reduce construction costs. Speaking at the launching ceremony in Dar es Salaam yesterday, the Permanent Secretary in the Ministry for Works, Transport and Communications, Eng Joseph Nyamuhanga, said the manual would.... Read more »

Posted on : Monday , 6th February 2017

East Africa: UN, EAC Sign Grant Agreement to Boost Agriculture

Arusha — The United Nations' Food and Agriculture Organisation and the East Africa Community have signed a Grant Agreement to promote urban and rural agriculture and agribusiness so as to improve youth employment in Tanzania and other EAC member states. The total budget of the Grant is 1.0 bn/- coming from the US $ 440,000 for one year. The agreement, complements the recently held 28th African Union Summit which ran under the.... Read more »

Posted on : Saturday , 4th February 2017

Kenya: $9.6 Million From Constituencies' Fund Transferred to Roads, Education Ministry

The Sh10 billion the High Court slashed from the National Government Constituencies Development Fund will be sent to Roads and Education ministries to be spent on projects identified by Members of Parliament, the National Treasury has said. At the same time, Sh1 billion originally given to Parliament to buy land for a training institute will be transferred to the Kenya Anti-Corruption Commission to buy a building, National Treasury.... Read more »

Posted on : Saturday , 4th February 2017

East Africa�s Massive Infrastructure Project LAPSSET Takes Shape

NAIROBI — It is a massive infrastructure project originating from Kenya, consisting of a 32-berth port on the country’s north coast, a railway, an oil pipeline, highways, international airports, and resort cities. LAPSSET stands for “Lamu Port, South Sudan, Ethiopia Transport Corridor,” a project to connect Kenya with South Sudan, Ethiopia, and eventually West Africa. One of the project's creators,.... Read more »

Posted on : Friday , 3rd February 2017

Expogroup Wins Big at the Tanzania Leadership Awards 2016

On the evening of Friday 27th January 2017, members of the business community in Tanzania gathered at the Hyatt Regency Hotel to celebrate the most accomplished businesses of 2016. The event was the Tanzania Leadership Awards (TLA), which honors successful businesses that range from conglomerates with more than 500 employees, to small start-ups with a staff count of 2 to 4 employees. Expogroup, a pioneer in the trade show.... Read more »

Posted on : Friday , 3rd February 2017

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