Market News Page No. 321| Africa Business News | Afrotrade

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Tanzania Purchase 2 Bombardier Q400 Aircraft

The Government of Tanzania recently signed a purchase agreement for two Q400 aircrafts with Canadian manufacturer Bombardier. The aircrafts will be delivered with a 76-seat configuration at the price of USD62m. They will be used for commercial airline operations by Air Tanzania Company Limited (ATCL), the national carrier of Tanzania. “Tanzania is a large country with some challenging airfields, and the Q400.... Read more »

Posted on : Thursday , 25th August 2016

President Uhuru Kenyatta asks landowners to support infrastructural projects

President Uhuru Kenyatta has asked those with land through which infrastructural projects are passing through to surrender it. Otherwise, the President said the government will forcibly seize it. The President said a few individuals will not be allowed to stand in the way of projects that could save billions of shillings wasted in traffic jams. He blamed landowners for delaying theprojects. "Nairobi loses Sh147.... Read more »

Posted on : Thursday , 25th August 2016

National Oil and GDC sign agreement to jointly off er oil, gas drilling services

Geothermal Development Company and National Oil Corporation of Kenya will jointly offer oil and gas drilling services in Kenya and the region. The two state-owned firms have signed a deal to provide the services by leveraging on their individual and collective technical expertise. In the memorandum of understanding, GDC will give NOCK equipment and provide specialised drilling services. The deal also details terms of capacity building,.... Read more »

Posted on : Thursday , 25th August 2016

Kenya to export oil earlier than planned by two years

The government has brought forward the country’s oil production deadline by two years, a move that could see Kenya become a net exporter earlier than 2022. President Uhuru Kenyatta yesterday said the government has “set a path” that will make the country become a key producer and exporter by 2019. This includes expediting the construction of the 891-kilometre (heated) Lokichar–Lamu crude oil.... Read more »

Posted on : Thursday , 25th August 2016

How business can drive energy access for all

In the past decade, renewable energy growth has broken records year after year, and 2015 was a remarkable one for developing countries. For the first time in history, according to the United Nations Environment Program, total investment in renewables exceeded that in developed economies, driven in part by national policies and the improving cost-competitiveness of renewable technologies. Investors, multinational energy players and.... Read more »

Posted on : Wednesday , 24th August 2016

Street lighting and road expansion turn Kisumu estate into business hub

The expansion of roads and street lighting has breathed new life into Kisumu’s Kondele estate. As a result, more entrepreneurs have set up retail stores, shopping malls, bars, hotels, and gyms in the area. Previously feared for insecurity, Kondele is fast turning into an attractive investment hub. Kenya National Chamber of Commerce and Industry executive member Israel Agina said Kondele’s big population was.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Firm Injects U.S. $2 Million in Packaging Industry

Mwanza — MWANZA - BASED Falcon Packaging Ltd has injected two million US dollars in the packaging industry in a strategic drive geared to complement government-backed initiatives aimed at improving the performance of business and industrial sectors. The investment is for production of well-designed packaging materials for domestic and industrial uses. "We have decided to come up with high quality packaging materials which can.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Invest in Industries, Pension Funds Told

Arusha — As Tanzania treads its path to industrialisation, social security funds have been urged to invest in industries. The minister of State in the Prime Minister's Office (Policy, Parliament, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama, says industrialisation forms a fundamental linchpin to the fifth phase government's plans for the country's economic transformation Ms Mhagama said this on.... Read more »

Posted on : Wednesday , 24th August 2016

Exponential Growth Projected in the Medical Tourism Industry

In simple words, the term Medical tourism means the act of traveling to another country in search of better, affordable and sustainable medical treatment. This can be either because the treatment in question is unavailable in the home country, is expensive or illegal. While conventionally this kind of travel was from the less developed to high developed nations for medical treatment, the trend has in recent past taken a new twist with.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya Energy Sector: Sollatek Electronics Incentives Solar Entrepreneurs

Sollatek Electronics latest project "Sollatek Direct: Solar Entrepreneurs in Kenya" has been selected by Energy and Environment Partnership (EEP) to received EUR 250.000 from the Ministry of Foreign Affairs of Finland, the Austrian Development Agency and the UK Department for International Development. The total project cost is over EUR 650.000, of which EEP has funded 40%, while Sollatek funds the remaining 60%. This project's.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzanian solar energy provider secures US$18mn

Tanzania-based solar energy provider Off Grid Electric (OGE) has received a total funding of US$18mn for its operations in East Africa. The financing is provided by two funds in a combination of equity and debt, with US$10mn coming from Helios Investment Partners, a pan-African investment firm, and US$8mn in debt financing from responsAbility, Swiss-based asset managers specialising in development-related sectors of emerging.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Acacia Mining Profit Up As Gold Prices Rise

Acacia Mining profit in the first half of 2016 have soared as gold prices and sales surged while operating costs fell. The gold mining company, which operates three mines in Tanzania, said in a statement its earnings before interest, tax, depreciation and amortisation for the six months to June 30 rose 91 per cent to 184.9 million US dollars, helped by lower costs and higher gold sales. The gold miner, said it was now.... Read more »

Posted on : Wednesday , 24th August 2016

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