Market News Page No. 473| Africa Business News | Afrotrade

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Uganda: Govt Tightens Rules On Expatriates in Oil Sector

In a move meant to boost the participation of more Ugandans in the oil and gas sector, government has set stringent rules on hiring expatriates. Dozith Abeinomugisha, an assistant commissioner in the petroleum directorate in the ministry of Energy and Mineral Development, says the rules are meant to regulate expatriates in the sector. Abeinomugisha was on Wednesday presenting a paper on the progress of oil and gas sector to The.... Read more »

Posted on : Thursday , 3rd September 2015

Uber and Kia combine for driver deals in Lagos

E-hailing taxi company Uber is reportedly negotiating cheaper deals for new vehicles with Kia to boost its number of drivers fivefold in the Nigerian city of Lagos. Bloomberg reported that Uber is hoping the low-cost deals will help boost its driver tally in Lagos – Africa's most populous city – to 3,000 by the end of next year. The report says that Uber has signed agreements with Kia and Lagos-based Access Bank Plc.... Read more »

Posted on : Thursday , 3rd September 2015

Rwanda: Ngoma Residents Urged On Agro-Based Cooperatives

The Government is committed to transform the co-operative sector across the country to achieve sustainable development, officials have said. While addressing residents of Ngoma District at the closure of a seven-day trade show in the area, on Monday, government officials highlighted the importance of co-operatives to achieving the country's vision for 2020. The annual trade fair attracted farmers and business persons from all.... Read more »

Posted on : Thursday , 3rd September 2015

Arda to Resuscitate Tomato Plant

The Agriculture Rural Development Authority has secured $2 million to resuscitate its tomato processing plant in Norton that has been lying idle for the past five years. arda board chairman Mr Basil Nyabadza told The Herald yesterday that they had partnered Schweppes Limited to resuscitate the plant which is known as the arda Zagrinda. He said refurbishment of the plant would start this month after which production would follow early.... Read more »

Posted on : Thursday , 3rd September 2015

Savanna Tobacco Gears for Expansion

Cigarette manufacturer Savanna Tobacco is gearing to expand its footprint on the African continent and has made key changes to its structures in pursuit of that objective, the company said yesterday. The Savanna group, chaired by Adam Molai, announced appointment of two key executives namely Mr Nick Hales as its global chief executive officer and Mr Douglas Mamvura as chief marketing officer. Announcing the appointments, the cigarette.... Read more »

Posted on : Thursday , 3rd September 2015

Ethiopia: Promising Stride in Harvesting, Exporting Avocado

A workshop for framers from Bahir Dar and Butajira surrounding areas was organized at Bicolo Fruit Nursery, West Gojjam in order to train them on how to harvest, pick and prepare, handle avocado. Speaking on the workshop, the Israeli Ambassador to Ethiopia Belaynesh Zevadia said that the project has been implemented by Israel's Agency for International Development Cooperation (MASHAV) and USAID in cooperation with the Ethiopian.... Read more »

Posted on : Thursday , 3rd September 2015

UN body to aid Africa with nuclear power generation

UN’s International Atomic Energy Agency (IAEA) has decided to help African nations with the development of nuclear energy for electricity generation nuclearplant 12923 pixabayPlans for nuclear power generation are making headway in Kenya. (Image source: 12923/Pixabay) Several African countries have expressed interest in the peaceful development of nuclear power, according to IAEA senior advisor for policy and strategy Anne Starz,.... Read more »

Posted on : Thursday , 3rd September 2015

Kenya to receive USD 55.6 bn for infrastructure development

Mega infrastructure projects are planned for East Africa and are set to create unique opportunities and open new markets in Kenya, Uganda and Ethiopia. Industry sectors expected to benefit from the planned infrastructure developments include oil and gas (O&G), mining, agriculture, and retail. New analysis from Frost & Sullivan, African Infrastructure Tracker: Kenya, reveals that Kenya is set to become a hub for.... Read more »

Posted on : Thursday , 3rd September 2015

KENYA TO BECOME HUB FOR INTRA-REGIONAL AFRICA TRADE

Kenya is set to become a hub for intra-regional trade in Africa, according to a new report from Frost & Sullivan. An estimated $55.6 billion in investments in infrastructure development for Kenya is planned, the majority of which will focus on telecommunications and power generation infrastructure, according to the report. Mega infrastructure projects are also planned for elsewhere in East Africa and are set to create unique.... Read more »

Posted on : Thursday , 3rd September 2015

Cattle sales rise at Pugu Market

Earnings generated from the cattle sale at the Pugu Auction market increased to 2.45bn/- last week from 2.36bn/ of the previous period. According to statistics from the Ministry of Industry and Trade, the daily cattle sales increased to 3,794 in the week under review from 3,682 of the other week, which is 3 per cent rise. With the exception of female cattle grade two whose price remained unchanged at 700,000/-as the previous.... Read more »

Posted on : Wednesday , 2nd September 2015

Kenya to set up unit to protect critical infrastructure

NAIROBI: The Government will set up a powerful entity to protect critical infrastructure against threats such as terrorism, espionage and sabotage. In a move aimed at dealing with increasing threats to critical infrastructure such as power lines, fibre optic, roads and data centres, the Government has proposed hefty fines and jail terms for up to 10 years for people caught sabotaging infrastructure that is critical to national.... Read more »

Posted on : Wednesday , 2nd September 2015

Trading steeply up at Dar stock exchange

The Dar es Salaam Stock Exchange (DSE) experienced high traffic from both local and foreign investors resulting into a turnover of 29.89bn/- compared to 1.74bn/- of the previous week. According to Zan Securities Limited Weekly Wrap Ups, Tanzania Breweries Ltd (TBL) and CRDB Bank Plc emerged as the week’s top traded equities contributing about 84.20 percent and 11.14 percent, of this week’s total.... Read more »

Posted on : Wednesday , 2nd September 2015

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