Market News Page No. 287| Africa Business News | Afrotrade

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Digitising taxes in Tanzania could provide $0.5bn annual boost

Digitising taxes in Tanzania could boost the country’s revenues by half a billion dollars every year, according to a United Nations report. The report, published yesterday by the UN-based Better Than Cash Alliance, found that by digitising value added tax and supporting the formalisation of businesses, Tanzania could collect an additional $477m annually. This would be a substantial windfall for a country with a GDP.... Read more »

Posted on : Thursday , 22nd September 2016

Excitement builds as Aminex chases explorer�s holy grail

With drilling expected to run through the fourth quarter, and some fast track production targetted soon after, no wonder there's excitement for upcoming Ruvuma programme. New phase of work in Tanzania aims to establish the kind of production that can sustain and ‘self-funding’ the group’s continuing expansion. Such an aspiration is, as chief executive Jay Bhattacherjee describes, the “holy.... Read more »

Posted on : Thursday , 22nd September 2016

Black Rock Mining Ltd reveals battery grade graphite at Mahenge project

Black Rock Mining Ltd (ASX:BKT) has achieved and exceeded high quality battery grade spherical graphite specifications through initial testing of samples from the company’s flagship Mahenge graphite project in Tanzania. This test program was conducted in Europe by an independent test laboratory using the company’s early generation 95.86% bulk concentrates. Testing concluded that Mahenge graphite concentrates.... Read more »

Posted on : Thursday , 22nd September 2016

More than $1 billion in Power Africa commitments finalized - USAID chief

More than $1 billion in debt and financing commitments from U.S. agencies and private investors is set to be announced on Wednesday for U.S. President Barack Obama's signature Africa energy initiative, Power Africa, a top USAID official said. The latest deals were finalized around a U.S.-Africa business forum on the sidelines of annual U.N. meetings in New York this week, USAID chief Gayle Smith said in an interview with Reuters..... Read more »

Posted on : Thursday , 22nd September 2016

Vivo Energy opens largest diesel storage tank in Kenya at Shimanzi

Vivo Energy Kenya has opened a 23 million litre diesel storage tank at the company’s Mombasa terminal at Shimanzi in what is the largest diesel storage capacity in the country by one oil marketer. The company also opened a 5 million litre petrol storage tank. The opening of these tanks increases the company’s diesel storage to 53 million litres, and petrol storage to 29 million.... Read more »

Posted on : Thursday , 22nd September 2016

Expanding to Africa, Columbia Pacific opens health clinic in Nairobi

Columbia Pacific Management, a Seattle-based investment firm that runs health-care facilities in various countries, has expanded to Africa. Under the new Columbia Africa brand, the company opened its first clinic in Nairobi, Kenya, this week. The 5,300-square-foot clinic and diagnostic center offers services in family medicine, internal medicine, pediatrics, gynecology, general surgery, orthopedics, opthalmology and.... Read more »

Posted on : Thursday , 22nd September 2016

Government to invest Ksh. 3.2 Billion on Oil infrastructure, KTN Prime 21st September 2016

The ministry of infrastructure is set to spend 3.2 billion shillings in constructing requisite infrastructure that will pave the way for Kenya to start exporting oil come June 2017. According to roads principal secretary Eng. John Mosonik, plans are underway to rehabilitate the Eldoret Lokichar road in preparation for the harvesting of early oil in Turkana. Stakeholders in the petroleum sector have expressed concern over the pace of.... Read more »

Posted on : Thursday , 22nd September 2016

Solar power company raises Sh2.25bn to connect homes

Solar power equipment distributor d.light has announced securing $22.5 million (Sh2.25 billion) for its PayGo business which provides homes with cheaper and clean power solutions. The company, which has reached more than 1.6 million Kenyan households, said it will spend a significant amount of the investment in the East African market. “Consumer financing for solar home systems makes the technology significantly.... Read more »

Posted on : Thursday , 22nd September 2016

Kenya Power honoured for its low-cost electricity project

Kenya Power has been named the most innovative firm at the African Investor's CEO Institutional Investment Summit awards for its aggressive electricity project targeting humble households. Kenya Power's World Bank-funded Global Partnership on Output-Based Aid project connects low-end customers primarily those in the rural areas and informal settlements with electricity. The firm has increased sales through the initiative.... Read more »

Posted on : Thursday , 22nd September 2016

Made in Mount Vernon: Home decorations

Rose Luangisa built her Mount Vernon-based home decorations business on having an eye for what looks good. So when interior decorators and gallery owners began coming to her home 20 years ago to buy African wood sculptures, they looked around her living room and asked about the decorations made for herself. "They would say, 'Oh, I really like that,'" said Luangisa, 48. Clients' interest in Luangisa's.... Read more »

Posted on : Wednesday , 21st September 2016

Global Bakery Packaging Market to Grow by 2020

The global bakery packaging market is expected to grow at a CAGR of around 4% during the forecast period, according to the latest market study released by Technavio. The research report titled “Global Bakery Packaging Market 2016-2020” categorizes the global bakery packaging market into three major segments based on the type of materials used for packaging: Flexible packaging; Rigid plastic packaging and Metal.... Read more »

Posted on : Wednesday , 21st September 2016

Columbia Asia Expands to New Continent with Columbia Africa

Columbia Asia, one of the largest and fastest-growing healthcare companies in Asia, is expanding its operations to Africa to serve the rising demand from the continent’s middle class for affordable, modern and efficient healthcare facilities The company’s first facility in Africa – a 5,300-square-foot multispecialty clinic and diagnostic center – opened this week in Nairobi, Kenya, a capital city with more.... Read more »

Posted on : Wednesday , 21st September 2016

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