Market News Page No. 368| Africa Business News

East Africa Reviews Big Car Plant

Arusha — Foreign-manufactured motor vehicles, mostly used in Tanzania and East Africa, may be compelled to set up assembling plants in the region as leaders mull reducing importation of cars from overseas. The new strategy mulled by the EAC Heads of State might lead to automobile manufacturers specialising in such popular and fast selling brands as Toyota, Nissan, Volkswagen and Yutong in Japan, China, and Europe to starting to.... Read more »

Posted on : Friday , 4th March 2016

AGOA: South Africa Concludes Negotiations on Meat Issue

Pretoria — Government has concluded negotiations on poultry, beef and pork with the United States, a move that brings to a close months of discussions with the US on the terms required for South Africa to secure its position in the African Growth and Opportunity Act (AGOA). In a statement on Thursday, the Department of Trade and Industry (dti) said the first shipment of poultry (frozen chicken legs) arrived at the Port of Durban.... Read more »

Posted on : Friday , 4th March 2016

Open Skies Agreement signed between Rwanda & Ethiopia

East Africa: Rwanda, Ethiopia Sign Open Skies Agreement.Rwanda and Ethiopia have signed an air service agreement, where the two countries agreed to open their airspace allowing their national carriers to operate without restrictions. According to the agreement, signed between the Rwanda Civil Aviation Authority (RCAA) and Ethiopia Civil Aviation Authority, all air service operations will be conducted under the fifth freedom.... Read more »

Posted on : Thursday , 3rd March 2016

New Border Post to Boost Trade in East Africa

Holili — Tanzania and Kenya opened one-stop border posts at Holili and Taveta border to facilitate trade across the border of the two countries marking another key milestone in the integration process in the East African region. The Minister for Foreign Affairs, East African, Regional and International Cooperation, Ambassador Augustine Mahiga, and Kenya's, Cabinet Secretary, Ministry of Labour and East African Affairs, Phyllis J..... Read more »

Posted on : Wednesday , 2nd March 2016

Construction begins on US$ 14m water project in Tanzania

Tanzania is constructing a US$ 14m water project plant in Sumbawanga Municipality in Rukwa region. The water project in Tanzania is aimed at improving water sanitation services in the area. The Sumbawanga Urban Water Supply and Sanitation Authority (Suwasa) Planning Engineer, Mr. Maunda Mbenero, confirmed the reports during a meeting that was attended by Sumbawanga Urban Constituency Member of Parliament, Mr. Aeshi Hilary and municipal.... Read more »

Posted on : Tuesday , 1st March 2016

Construction of hydroelectric power stations to begin in Gabon

The Gezhouba Group Corporation (CGGC), a Chinese base company specializing in the construction of hydroelectric power stations plans to construct two hydroelectric power stations in Gabon. Besides constructing 3 Gorges Dam in China, the power company is renowned corporation for constructing the largest hydroelectric dam in the world in terms of production capacity The Chinese firm delegation have already met up with the.... Read more »

Posted on : Tuesday , 1st March 2016

Teraco to Construct Africa's Largest Data Center

In a construction comprising 17 500sqm, Teraco, Africa’s only vendor neutral data centre, will be adding to its existing co-location facility and creating Africa’s largest data centre. Gys Geyser, Head of Operations at Teraco, says the building is not just an extension of services and white space, but a milestone for Teraco and the African data centre industry: “In this expansion of our footprint, we are achieving what.... Read more »

Posted on : Tuesday , 1st March 2016

First Solar powered Airport Opens in South Africa

The first solar powered airport in South Africa has officially been opened making it a first of its kind in Africa. Environmental Affairs Minister Edna Molewa congratulated the Department of Transport as it is one of the key departments paving way for South Africa’s Green Economy Strategy. Majority of the airport’s energy needs will be supplied through 200 square meters of photo-voltaic (PV) panels. PV.... Read more »

Posted on : Monday , 29th February 2016

Investing in Kenya key to East African Community Market - Envoy

Kenya has advised Zambian potential investors to take advatange of various investment opportunities in that country and gain access to the East African region. Kenyan High Commissioner to Zambia, Sophy Kombe said her country had many investment opportunities which made it a good choice for settlement. Ms Kombe said during the 15th anniversary celebrations of Davis and Shirtliff Limited in Lusaka at the weekend that investing in.... Read more »

Posted on : Monday , 29th February 2016

Egypt Opens talks with UAE, Saudi Arabia firms for Energy Deals

Egypt has opened talks with more than three energy companies based in UAE and Saudi Arabia aiming to counter the electricity crisis that the country now faces. Currently the country has signed various project that will see it produce up to 6,750 MW, reports have shown. According to reports the electricity talks valued at $7.5 billion, are at various stages of completion, and will finance the construction of three combined cycle.... Read more »

Posted on : Saturday , 27th February 2016

Largest Water Project to be Constructed by Kenya in Semi Arid Land

Kenya is constructing the largest water project in semi arid area that will supply water and electricity to millions of residents, Water Cabinet Secretary Eugene Wamalwa has announced. Thwake Dam at the confluence of Thwake and Athi Rivers will supply water to over one million residents of Machakos, Makueni and Kitui counties as well as generate 20 megawatts of electricity to power Konza Tech City in Makueni County. largest.... Read more »

Posted on : Saturday , 27th February 2016

Tanzania Discovers More Gas on Ruvu Basin

Tanzania has made yet another discovery of natural gas reserves totalling 2.17 trillion cubic feet (tcf) along Ruvu Basin in Coast Region. The discovery has been made at a block operated by Dodsal Hydrocarbons and Power Tanzania Limited owned and chaired by UAE-based billionaire, Dr Rejan Kilachand. It brings the sum of proven natural gas reserves to 57.27 tcf in both offshore and onshore wells. Officials of the company.... Read more »

Posted on : Friday , 26th February 2016