Market News Page No. 239| Africa Business News | Afrotrade

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Tanzania: Over 1 Trillion SH Allocated to Electrify Villages Countrywide

Over 1trn/- has been allocated for implementation of the Rural Energy Agency (REA)'s phase III projects, which are expected to electrify all villages in the country. According to Energy and Minerals Minister, Professor Sospeter Muhongo, 543.3bn/- out of the 1trn/- budget, will be sourced internally with the remaining amount coming from donors. Professor Muhongo, speaking to Mara residents during his tour of the region to.... Read more »

Posted on : Wednesday , 28th December 2016

Rwanda: Kigali Roads Expansion Project to Begin in January

The much anticipated roads expansion project across the city is set to commence in January, according to officials from the City of Kigali. The roads expansion project is set to cover about 54 kilometres, mainly targeting expanding roads to a dual carriage way with two lanes on each side. Chinese firm, China Road Bridge Corporation, has been contracted to do the work. The project is expected to address traffic jams,.... Read more »

Posted on : Wednesday , 28th December 2016

Kenya: Over 2,500KM Roads to be Built Next Year

The government will launch the construction of 2,500 kilometres of roads before the next General Election, Transport Principal Secretary John Mosonik has said. Mr Mosonik said it was part of the "10,000 programme" of low volume traffic road. "A total of 2,327 kilometres of roads in 30 counties are being built while an additional 2,500 kilometres are under evaluation and will be launched in early 2017 to cover.... Read more »

Posted on : Wednesday , 28th December 2016

Tanzania: Construction of New LNG Plant At Negotiation Stage

The process of constructing the envisaged liquefied natural gas (LNG) plant to sit on the land of Lindi Region has now entered the negotiation stage of the Host Government Agreement (HGA), it has been revealed. The HGA is a legal agreement between a foreign investor and a host government governing the rights and obligations of the foreign investor and the host government concerning the development, construction and operation of a.... Read more »

Posted on : Wednesday , 28th December 2016

Uganda Turns on East Africa's Largest Solar Power Plant

Uganda’s new $19 million solar plant in Soroti heralds a new era that will see the country start to change the energy mix away from dependence on hydroelectricity. The 10 MW facility, located 293km east of Kampala, is the country’s first grid-connected solar plant. Julius Wandera, the Electricity Regulatory Authority (ERA) spokesperson, said that originally, the solar plant was financed as part of the global.... Read more »

Posted on : Wednesday , 28th December 2016

East Africa Leads Continent in Renewable Energy Uptake

East Africa’s economies top countries in sub-Saharan Africa in injecting clean energy into their national grids, through new projects in wind and solar. The latest report of Climatescope, the clean energy country competitiveness index by Bloomberg New Energy Finance, shows that clean energy policies are becoming more widely adopted across sub-Saharan Africa. “Fourteen countries from the region have introduced.... Read more »

Posted on : Wednesday , 28th December 2016

Africa: Power Plants Gear Up for Digital Transformation of Power Generation

At nearly every industry event and customer meeting over the past year or so, the conversation has inevitably turned to the subject of “change.” It can be changes happening within our industry, or broader changes in the economy or society – like the impact of smartphones and social media on daily life. A few days ago, at GE’s Power Services Middle East & Africa Customer Summit, themed ‘The Digital.... Read more »

Posted on : Wednesday , 28th December 2016

Kenya: Tea Farmers See Record Earnings in 2016

The year 2016 was good for tea farmers thanks to high prices the produce fetched amidst a weaker dollar. Growers affiliated to Kenya Tea Development Agency (KTDA) earned a record-high bonus compared to any other year in the history of the crop. Farmers earned Sh84 billion from leaves delivered in the 2015/2016 season, marking the second year of improved earnings helped by a stable exchange rate and high pricing of the commodity.... Read more »

Posted on : Wednesday , 28th December 2016

Tanzania: Mining Firm Pays Govt $5.8 Million in Taxes

Petra Diamonds has paid 5.8 million US dollars (about 12bn/-) to Tanzania in various taxes making the country the highest paid in nations where the firm operates. The diamond firm, registered in London Stock Exchange, made a total payment of 8.9 million US dollars (18bn/-), where Tanzania payments account for 66 per cent, South Africa 32 per cent and Netherlands 2 per cent. The company has operations in six countries but main.... Read more »

Posted on : Wednesday , 28th December 2016

How Will Trump Impact East Africa's Industrialisation Drive?

The global mood has shifted since Donald Trump’s surprise victory in the US presidential election. Europeans are fretful and Mexicans are panicking but many of the US investors we met in mid-November have become intensely optimistic about the prospects for their own economy. No one is quite sure whether this will benefit emerging markets or not and many Trump supporters probably don’t care. Their vote was to make America great again,.... Read more »

Posted on : Wednesday , 28th December 2016

Transform Agriculture in Africa by AFDB

97 percent of the Bank's agriculture projects rated satisfactory. 4000 kilometers of feeder roads built; three million people trained on farming practices 150,000 microcredit loans, water systems on 181,000 hectares of farmland By 2025, Africa aims to feed its fast growing population with its own production. What is more, the world will need Africa's help to feed an extra two billion people in the coming generation. So making the right.... Read more »

Posted on : Tuesday , 27th December 2016

Ethiopia: 'We Continue Developing Renewable Energy Sources' - PM

Ethiopia is highly endowed with electric power potential that can be developed from water, solar and geothermal. Realizing the potential, the nation has been investing a great deal to cultivate the energy sources from wind, water bodies and the like. In relation to the efforts undertaken so far, the country has increased significantly its power generation capacity since Gibe III Hydroelectric Dam began functioning. This highest Roller.... Read more »

Posted on : Friday , 23rd December 2016

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