Market News Page No. 280| Africa Business News | Afrotrade

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Africa: Dar Is Africa's Bright Spot in Economic Growth

Tanzania is among a few countries in Africa with robust growth of economy as the continent is expecting growth to fall to its lowest level in two decades due to a slump in commodity prices and continuing weakness in global growth, a World Bank report says. With economy on track to expand by 7.2 percent in 2016, up from 7 percent in 2015, the East African country joins Ethiopia, Rwanda, and Ivory Coast as few bright spots in Africa.... Read more »

Posted on : Monday , 3rd October 2016

Incentives to attract investment in Kenya's automotive industry

Kenya's removal of excise duty on locally assembled cars will boost the industry, but the government must make power supplies cheaper and address other concerns to draw more investment, the automobile industry association chief said on Thursday. With little growth in mature markets, automakers are looking to tap into emerging African markets, but there is plenty of competition on the continent for where they might.... Read more »

Posted on : Monday , 3rd October 2016

Kenya ranked ninth in Africa in attracting foreign investment

Kenya has been ranked ninth in attracting investment deals among 28 African countries polled in a survey covering the first eight months of the year. According to research firm StratLink Africa, Kenya clinched deals worth Sh8.6 billion ($85 million) between January and August, putting it behind South Africa with Sh100 billion, Egypt which had Sh46 billion, Ethiopia with Sh55.5 billion, Democratic Republic of Congo with Sh27.... Read more »

Posted on : Monday , 3rd October 2016

Tanzania: CTI - Business Friendly Govt Key for Growth

Dar es Salaam — The government has been advised to ensure drivers of industrialisation are in place to achieve and linked to attain the targets. There should be hard and soft infrastructure. Hard infrastructure includes roads, railways, ports, air and water system while soft infrastructure such as human resources and skills and finance. Confederation of Tanzania Industries chairman Samuel Nyantahe told.... Read more »

Posted on : Monday , 3rd October 2016

Kenya: Kiambu Uses Technology to Build Cheaper Access Roads

Kiambu — In efforts to provide durable roads across the county, Kiambu government has over the recent months been searching and developing innovative methods of road design, construction and maintenance in order to maximise the utilisation of the available funds. One such methods is the use of the soil enhancing stabilisers, a technology globally known as Soil Enhancing Solutions that capitalises on enzymes to modify roads,.... Read more »

Posted on : Monday , 3rd October 2016

Rwanda: Adding 23mw to National Grid Tops Mininfra Priorities This Fiscal Year

Rwanda will have added 23 megawatts of electricity to the national electricity grid before the end of June, next year, while 88 per cent of the country's households will have access to clean drinking water by then. By then, construction of major infrastructure projects such as the planned Bugesera International Airport and some major roads will have also been launched, officials say. The targets were revealed, on Tuesday,.... Read more »

Posted on : Monday , 3rd October 2016

Off-grid solar going from strength to strength in eastern Africa

A new report by the Renewable Energy Policy Network for the 21st Century (REN21) found that approximately 50% of global investment made in off-grid solar in 2015 was in the eastern African region, as falling PV prices and favorable policies stimulate growth in the regional off-grid solar market. There are few more heartening stories in the global solar industry than the proliferation of off-grid solar solutions in areas that lack.... Read more »

Posted on : Monday , 3rd October 2016

ABB to build hybrid-solar microgrid for Red Cross in Africa

The Swiss technology company will incorporate solar PV and diesel into a single microgrid for the International Committee of the Red Cross in Nairobi, Kenya, to supply the hub with reliable power for the first time, while also announcing the completion of its share buyback program. Various African nations are taking to innovative power solutions to solve a lack of reliable energy across much of the continent. Solar is playing a.... Read more »

Posted on : Monday , 3rd October 2016

Kenya: Toyota Targets More Kenya Contracts After Signing Deal

Japanese conglomerate Toyota Tsusho Corporation is eyeing more big-ticket contracts in Kenya after signing a support deal with the government. The Nagoya-based company, a unit of the Toyota Motor Corporation, says it is ready to undertake several projects in diverse sectors of the economy including mining and power generation. This will significantly expand its business in Kenya from the mainstay motor dealership which it.... Read more »

Posted on : Monday , 3rd October 2016

Tanzania: Stamigold Workers Praised for Good Show

Bukoba — State owned Gold Mining Company, STAMIGOLD, workers have been commended for good performance that has enabled the mine to achieve its target. Board Chairman of the State Mining Corporation (STAMICO), Ambassador Alexander Muganda, made the remarks here on Tuesday during a tour of the company by members of the newly appointed board. The new board came into effect on July 2, this year. Mr Muganda noted that in.... Read more »

Posted on : Monday , 3rd October 2016

Tanzania: Farmers to Get Improved Coffee Seedlings

Tanzania Coffee Research Institute (TaCRI) will distribute to farmers improved varieties of coffee seedlings to boost production as it marks international coffee day tomorrow. TaCRI Technology Transfer and Training Programme Manager, Mr Jeremiah Magesa said here yesterday that the improved coffee seedlings are pest and drought resistant. He said in various zones that cultivate coffee in the country growers will be.... Read more »

Posted on : Monday , 3rd October 2016

Tanzania: 8 Small Investors Generate 30mW

Dar es Salaam — Eight small-scale power projects (SPPs) have begun producing a total of 33.3MW in rural areas. The projects are in eight districts. The investors, with generated megawatts in brackets, are Tanganyika Plantation Company (20) in Kilimanjaro; Tanganyika Wattle Company (1.5) in Coast, Tulila Hydro-power (5) in Ruvuma, Iyovi Hydro-power (0.95) in Morogoro, Andoya Hydro-power (0.5) in Ruvuma, Darakuta Hydro-power.... Read more »

Posted on : Monday , 3rd October 2016

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