Market News Page No. 388| Africa Business News | Afrotrade

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Ethiopia: NBE Lauds Afreximbank Support to Ethiopia's Development

The National Bank of Ethiopia (NBE) said that the existing partnership with African Export - Import Bank (Afreximbank) has proven to be a success in supporting projects in Ethiopia in excess of 100 million USD in facilities covering transactions in infrastructure and financial services sectors. Speaking at Afreximbank Seminar held at Sheraton Addis yesterday, Bank Vice Governor Getahun Nana said: "Trade remains critical for the.... Read more »

Posted on : Wednesday , 23rd December 2015

Gaidam Confident On Trans-Saharan Road Project

Damaturu — Governor Ibrahim Gaidam of Yobe State has expressed optimism that the 300- kilometre-long 'Trans-Saharan' road project started by his administration in the northern part of the state will be completed before his tenure ends in 2019 even amidst stiff fiscal challenges. The governor spoke yesterday at Yusufari town during an inspection tour of the project. The 'Trans-Saharan' road project, so called because of the.... Read more »

Posted on : Wednesday , 23rd December 2015

Rwanda: 2,550km of Feeder Roads to Be Constructed Across the Country

A total of 2,550 kilometre feeder road network is set to be constructed in 2017 under the framework of feeder roads project across the country. The roads will be constructed under the Second Economic Development and Poverty Reduction Strategy (EDPRS 2), according to Octave Semwaga, the Director General of Planning at the Ministry of Agriculture and Animal Resources. The Euro 40 million project is sponsored by the European.... Read more »

Posted on : Wednesday , 23rd December 2015

Tanzania: Purchase Board to Build Sh25 Billion Office

Arusha — The Procurement and Supplies Professionals and Technicians Board (PSPTB) will put up a Sh24.5-billion complex in Dar es Salaam, it was announced here recently. The board has acquired a plot at Luguruni outside the city for the purpose, said the chairperson of the Board, Dr Hellen Bandiho, during the organisation's annual conference held at the Arusha International Conference Centre. "We expect to build PSPTB.... Read more »

Posted on : Wednesday , 23rd December 2015

Chinese Investors Offer Machines, Technology for Arid, Semi-Arid Farmers

A Chinese delegation is in Nairobi to scout for agricultural investments in arid and semi-arid areas and promote technology uptake for higher yields. The 45 investors with interests in farm machinery, technology and specialised skills transfer have visited Naivasha flower and wheat farms. The team also visited the Masai Mara National Reserve and held discussions with county executives in Nairobi on.... Read more »

Posted on : Wednesday , 23rd December 2015

Rwanda aims for US$140mn annually as export returns through horticulture

Rwanda is depending on its horticulture sector to fetch export returns worth around US$140mn annually by the end of the decade Around 10-20 medium-sized exporters and production on 2,000 hectares of nucleus farms with 6,000 hectares of outgrowers could accomplish the set target, said officials. According to the country's National Agricultural Export Development Board chief George William Kayonga, the horticulture sector presents huge.... Read more »

Posted on : Wednesday , 23rd December 2015

C-MRF launched by COMESA to improve grain trade

The COMESA Mutual Recognition Framework (C-MRF) has been launched to facilitate grain trade between COMESA nations The goal of the C-MRF, launched in Uganda last week, is to establish common grading criteria for maize, enable proficiency testing for aflatoxin analysis and risk-based sampling protocol. The roadmap will provide analytical results and recognise analysis certificates issued by labs of participating countries, mitigating the.... Read more »

Posted on : Wednesday , 23rd December 2015

Sino-Kenya Agricultural Cooperation Reaches Critical Milestone

Kenya's bilateral cooperation with China in agriculture, livestock and fisheries has reached a critical milestone with implementation of joint programs to achieve food security and boost rural incomes, officials said on Thursday Speaking at a China-Kenya conference on agriculture cooperation in Nairobi, the acting Cabinet Secretary for Agriculture, Livestock and Fisheries Adan Mohamed said Beijing's contribution is critical to.... Read more »

Posted on : Wednesday , 23rd December 2015

Norway and Kenya to Cooperate in Oil for Development Programme

Kenya has requested assistance from Norway in developing its petroleum sector. Through the programme Oil for Development, Norway will support Kenya in improving management of its natural resources and protection of the environment with the objective that oil and gas resources to benefit the country and its people,’ said Minister of Foreign Affairs Børge Brende. The Norwegian Government approved 17 December that Norway will enter.... Read more »

Posted on : Wednesday , 23rd December 2015

Kenya: Mining CS in talks With Miners Over New Royalties

The government plans to fastrack implementation of higher mining royalties to give Kenyans a bigger share of earnings from the country’s mineral resources, newly appointed Mining Cabinet secretary Dan Kazungu said yesterday. Kazungu said the government is negotiating with miners for a new royalty structure, and any new miner will abide to the updated rates. “We are negotiating with the companies that have been paying much lower.... Read more »

Posted on : Wednesday , 23rd December 2015

Mozambique Sees Big Uptick in Gas Exports

At the opening the 1st Coordinating Council of the Ministry of Mineral Resources and Energy Mozambique’s Minister of Resources and Mining, Pedro Couto, revealed that the country’s natural gas exports had doubled in 2015 to approximately 115.4 million gigajoules. Couto also revealed that production of natural gas had increased by 8% but added that the fall in prices on world markets could affect exploration activities in the.... Read more »

Posted on : Tuesday , 22nd December 2015

Sonatrach Plans Production Boost for 2016

Sonatrach, the Algerian state-run oil and gas firm, is aiming to increase crude output by 5% in 2016, although the added production most likely won’t make up the revenues lost due to the near seven-year low crude prices. The North African country is looking to attract international companies to an auction of rights to develop oil and gas fields, including those with hard-to-reach tight deposits, Salah Mekmouche, Sonatrach VP of.... Read more »

Posted on : Tuesday , 22nd December 2015

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