Market News Page No. 462| Africa Business News

Southern Africa: Namibia Subsidises Botswana's Diamond Industry

Not too long ago, diamond profits and taxes were seen as the most single biggest source of Namibia's state revenue. Now, many would tell you that the main source of revenue is actually import duty from the Southern African Customs Union (Sacu), which is only partially right. By 2014 Sacu revenue for Namibia's tax coffers was estimated at 37% of total government income. This is down from the peak of 47% in 2007, but Namibia remains.... Read more »

Posted on : Saturday , 19th September 2015

Zambia: Mines Ask for Relief On Investment

THE Zambia Chamber of Mines (ZCM) recommends that deduction of capital allowances for the mining industry should be reverted to 100 per cent on total capital expenditure per annum. ZCM president Nathan Chishimba said in submissions for the 2016 National budget that most mining expansion projects were long term in nature and that it was important to give relief during that period of investment. "For example sinking a shaft.... Read more »

Posted on : Saturday , 19th September 2015

Africa: CIO Mining Africa Summit to Bring a New Dawn for the Mining CIO

With technology being dynamic and more and more organisations adopting Cloud and Big Data technologies, it is essential for any organisation that wants to be successful to have a CIO. This has seen the role of the CIO in any organisation evolve in the recent past not only in the IT industries but across all sectors. More and more organisations see how IT can revolutionize the work environment therefore appreciating the role a CIO plays.... Read more »

Posted on : Saturday , 19th September 2015

Tunisia: Gafsa - Phosphate Production Has Reached 1.6 Million Tonnes Since Early 2015

Gafsa — Production of the Gafsa Phosphate Company (CPG) has reached 1 million tonnes from the beginning of this year until August, including 707 thousand tonnes in the months of July and August. Production activities in units under the CPG have resumed in the mining cities after seven months of interruption as a result of protests observed by unemployed people in production sites. Director of Production Monitoring and.... Read more »

Posted on : Saturday , 19th September 2015

Sh49.6 billion solar project launched in Kenya to generate clean energy

This is part of the country's strategy to embrace green energy and avoid over-dependence on sources of power that are harmful to the environment. The Sh49.6 billion project will be spearheaded by the Government through the Tana and Athi Rivers Development Authority (TARDA) in collaboration with Ultra Clean Energy Solutions (EA) Limited and Hitachi India (PVT) Limited. Speaking during the launch of a four-year strategic plan (2014-2018),.... Read more »

Posted on : Friday , 18th September 2015

East Africa: State agency seeks to bring about bettement in the FoodAgro sector

Tana and Athi Rivers Development Authority (Tarda) has planned for the project that aims to increase the production of sugar cane from 70 to 110 metric tonnes per hectare, scale up production of ethanol and animal feed, generate 35 Mega Watts of power and create employment. "Growing sugar cane along the Tana Delta will eliminate the sugar deficit that currently stands at 200,000 metric tonnes. This is because the climate is more.... Read more »

Posted on : Friday , 18th September 2015

China VP Stresses Industrial Investment in the African Continent

Hangzhou — Chinese Vice President Li Yuanchao called on China and Africa to draw on private investment in their industrial cooperation when he addressed the fourth China-Africa People's Forum in Yiwu of east China's Zhejiang Province on Wednesday. The city is known as the world's largest wholesale market for small consumer goods and is home to more than 3,000 African businessmen. As China works to upgrade its.... Read more »

Posted on : Friday , 18th September 2015

Japan to fund the construction of a research centre in East Africa

Japan through its agency, Japan International cooperation Agency is set to construct a research centre in Ethiopia that will serve as a training and research center throughout Africa. The construction project dubbed Kaizen institute will be built on a 3,000sqm piece of land at Sar Bet near the African Union in Addis Ababa. An agreement was signed between Kimura Takusaburo, Japan International Corporation Agency’s.... Read more »

Posted on : Friday , 18th September 2015

Chinese Company to invest in East Africa's Gas extraction

A Chinese company engaged in natural oil gas exploration with a capital of five billion USD in Ethiopia is expected to produce 40 billion gallon gas after three years. President Dr Mulatu Teshome held talks with Chinese Poly Technology Company Vice President Huang Geming at the National Palace yesterday. President Mulatu said the relationship between Ethiopia and China would help attract more huge companies into.... Read more »

Posted on : Wednesday , 16th September 2015

Nairobi County endorsed as a Culinary Hub

Group CEO of International Quality Awards Ltd. Mr. Mansoor Jiwani NAIROBI, KENYA: In the spirit of re-branding Nairobi, the County Executive of Trade Industrialization, Cooperative Development and Tourism, Anna Othoro touched on the need to differentiate "Nairobi as a Brand" and explore the Live-Love Nairobi campaign through culinary tourism. "Nairobi has so much to explore and so much to crave in terms of food and beverage.... Read more »

Posted on : Wednesday , 16th September 2015

Kenya-South Sudan road construction gets funding from World Bank

The World Bank has released US$512m for the construction of the Kenya-South Sudan road and also for the laying of the fibre optic cable which will eventually enhance trade between the two countries. South Sudan’s ICT minister Rebecca Joshua Okwaci and her Kenyan counterpart Fred Matiang’i signed a memorandum of understanding in January this year, paving way for commissioning of the project. “The entire.... Read more »

Posted on : Wednesday , 16th September 2015

Kenya and Rwanda in Power Deal

Kenya Power and Rwanda have entered a power agreement in which Kenya power will commence exporting 30 MW of power to Rwanda as from early 2016, chief Executive Officer Dr. Ben Chumo has announced. Chumo expressed confidence that the power purchase agreement reached with Rwanda will boost Kenya Power revenues. “This program which would earn Kenya Power millions of revenue is on and a fortnight ago we were in.... Read more »

Posted on : Wednesday , 16th September 2015