Market News Page No. 324| Africa Business News | Afrotrade

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Mnazi Bay Gas Production Improve in Q2 2016

East Africa-focused oil & gas company Wentworth Resources (OSE:WRL, AIM:WRL) announced improvements of gas production at Mnazi Bay in Q2 2016 by +6.25%. The Mnazi Bay achieved average gross daily gas production of 51m standard cubic feet (MMscf) per day in Q2 2016, compared to 48MMscf in Q1 2016 (+6.25%). This was indicated in Wentworth’s press release issued on August 16th 2016. Geoff Bury, Wentworth.... Read more »

Posted on : Tuesday , 23rd August 2016

Ethiopia: Sustaining Ethio-America Business Ties to Boost Exports, Increase Employment

It is significant to explore ways of foreign trade and investment that can help move Ethiopia to more vigorous participation in the global economy, and to the sustainable economic development that will enforce Ethiopia's progress to becoming a middle-income country by 2025. Since, some years ago, the U.S. companies look for a level playing field, with transparency that create a conducive environment to fair competition in African.... Read more »

Posted on : Tuesday , 23rd August 2016

African Health Ministers Eye Sh213bn Plan to Fight Outbreaks

Dar es Salaam — Health Minsters from 47 countries across Africa are considering a Sh213 billion funding to tackle more than 100 public health emergencies on the continent. The ministers, through the WHO Regional Committee for Africa, are expected to come up with policy commitments to support the regional strategy for health security and emergencies between 2016 and 2020 during a meeting scheduled to end Monday in Addis.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania: Beer Firm to Support Farmers

Mwanza — Tanzania Breweries Limited will invest 27bn/- to support farmers to boost production of local raw materials for beer, wine and spirits making. TBL Managing Director, Robert Jarrin said here last week that the funds would help barley, grapes, sorghum and maize farmers to increase their production of local materials for the beer making company which will in turn boost their growth. He said the farmers would be.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania: Cheap Loans Help Rice Growers Triple Output

Morogoro — Paddy productivity has almost tripled among Dakawa-based growers in the last one year after the farmers accessed the financial support that helped to adhere to recommended agricultural practices. Some of the group members at the Dakawa Irrigation Scheme in the region say the bank loan has enabled them plant on time and apply fertilizers and pesticides for the bumper harvests. The loans are extended to groups of.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania: India Appeals to Ease Restrictions on Tanzanite Export

India has appealed to Tanzania to lift the restriction imposed on export of tanzanite weighing over one gram and subsequently double its export tax as a measure to curtail illegal trade of the blue gemstone. Since Tanzania decided to ban export of raw tanzanite in 2012, it had sent shockwaves to gem and jewellery industries, especially those based in the northern Indian state capital of Jaipur, deemed the leading centre for cutting and.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania's President Magufuli orders officials to speed up LNG project

Tanzanian president John Magufuli ordered officials on Monday to speed up long-delayed work on a planned liquefied natural gas (LNG) plant, saying implementation of the project had taken too long. BG Group, recently acquired by Royal Dutch Shell, alongside Statoil, Exxon Mobil and Ophir Energy, plan to build a $30 billion-onshore LNG export terminal in partnership with the state-run Tanzania Petroleum Development Corporation (TPDC) by.... Read more »

Posted on : Tuesday , 23rd August 2016

East Africa: Minister Urges Private Sector To Participate Fully in EA Oil Pipeline for Benefit

Tanga — Minister of Energy and Minerals, Professor Sospeter Muhongo, has called on the private sector in Tanzania to take fully participation in a big multimillion East Africa Crude Oil Pipeline in order to benefit from it. Professor Muhongo gave the remark yesterday as he visited chongoleni area in Tanga city, the site where the crude oil from Kabale, Ohima District in Uganda will be received for exportation at Tanga.... Read more »

Posted on : Tuesday , 23rd August 2016

Invest in small farms to prosper

Rapid urbanisation, a youth bulge, and an expanding middle class are the hallmarks of Africa’s unprecedented transformation. Some of the world’s fastest growing economies are in sub-Saharan Africa. According to most Western leaders and aid agencies, the state of Africa is no longer “a scar on the conscience of the world”. Africa’s unprecedented transformation is also spawning new and urgent challenges, many.... Read more »

Posted on : Tuesday , 23rd August 2016

Tanzania among Africa Top Investment Destinations, Report Indicates

Tanzania was among the leading investment destinations in Africa in 2015, the recently published 2016 African Economic Outlook (AEO) indicates. The AEO presents the current state of economic and social development in Africa and projects the outlook for the coming two years. The AEO is a product of collaborative work by three international partners: the African Development Bank (AfDB), the OECD Development Centre and the United Nations.... Read more »

Posted on : Monday , 22nd August 2016

Feature: Kenya's rural women invest in trees for retirement benefits

Under the Kenyan public service and retirement benefits laws, Ruth Gachacha, in her 50s, would be counting days to receive her sendoff package, the money that would sustain her day-to-day activities in her frail years. But the rural farmer in the Rift Valley county of Nakuru has an unusual way of preparing for a comfortable lifestyle in her old age. Gachacha's retirement package is in the 5,400 eucalyptus trees she has planted.... Read more »

Posted on : Monday , 22nd August 2016

SA moves to secure water sources

The Department of Water and Sanitation (DWS) is consulting stakeholders to get input on the National Groundwater Strategy. The strategy is aimed at ensuring water security in South Africa and to optimise water resource management. Consultations are taking place throughout the country. Last Thursday, stakeholders in Mpumalanga were engaged for their inputs and comments. The stakeholders in attendance came from different.... Read more »

Posted on : Monday , 22nd August 2016

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