Market News Page No. 584| Africa Business News | Afrotrade

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N e w s

East Africa is to increase food export to Russia

African suppliers are ready to export up to 100 000 tonnes of fruit and vegetables per week, previously delivered into Russia via EU. African producers intend to increase the direct export to Russia, bypass the European countries, - announced Elena Nagornaya, the President of the Trade Alliance of African countries in Russia. According to the results of 2014, East African countries have the opportunity to increase export of fresh.... Read more »

Posted on : Friday , 22nd August 2014

Construction boom brightens future for East Africa

It is a ‘boom’ as many people are describing the growth of East Africa Construction industry. Many investors have taken the advantage of the boom by shaking off their pockets to invest in skyscrapers, shopping malls, roads, schools, hospitals etc. Both private and public sectors are in a hurry trying to satisfy the rising middle class and regional integration, and the E.A. governments still have the high stake in the.... Read more »

Posted on : Friday , 22nd August 2014

East Africa: EA Business Council Roots for Renewable Energy Devt

The business community in the region has thrown its weight behind efforts aimed at promoting and developing the renewable energy sub-sector. Fiona Uwera, the East African Business Council (EABC) technical liaison officer for Rwanda, said it is essential for the region to invest in renewable energy resources to reduce deficit. "The potential of biofuels in the region is huge... However, this and other renewable energy.... Read more »

Posted on : Thursday , 21st August 2014

Nigeria: OSOPADEC Constructs N300 Million Pedestrian Bridge in Riverine Area

Akure — Concerned by the difficulties being encountered by the residents of the riverine communities in accessing their homes, the Ondo State Oil Producing Areas Development Commission (OSOPADEC) has launched the construction of innovational footbridges worth N300 million in its mandate areas. The bridges, which would be constructed in the OSOPADEC mandate areas of Ilaje and Ese-Odo Local Government Areas, would cover a.... Read more »

Posted on : Thursday , 21st August 2014

Ghana: Weston Oil and Gas Fund Launched

The Weston Oil and Gas Fund (WOGFund) has been launched to assist companies and other agencies involved in the oil and gas business. WOGFund is the first mutual fund of Weston Capital, a limited liability company incorporated in Ghana. Speaking at the launch in Accra, today, the CEO of Weston Capital, Mr Rex Kontor, said WOGFund was a publicly-incorporated Ghanaian company that would invest primarily in a diversified portfolio of debt.... Read more »

Posted on : Thursday , 21st August 2014

Nigeria: UNDP to Spend N21 Million On Energy Projects in Nasarawa

The Global Environment Facility - United Nations Development Programme (GEF-UNDP) said it would spend N21 million on the provision of sustainable energy-related projects in selected communities in Nasarawa State. The National Coordinator of GEF-UNDP, Mr Etiosa Uyigue, said this at Karu, Nasarawa State in an interview with the News Agency of Nigeria (NAN). Uyigue told NAN that the project would be executed in collaboration with.... Read more »

Posted on : Thursday , 21st August 2014

World Bank to Invest in Energy Projects in 6 African countries

The World Bank Group has committed 5 billion dollars in new technical and financial support for energy projects in six African countries; Kenya, Ethiopia, Ghana, Liberia, Nigeria and Tanzania. Some of these have vast amounts of untapped geothermal resources that could greatly benefit from this funds. World Bank Group President, Dr. Jim Yong Kim, said the new financial commitment was urgently needed to generate more electricity for.... Read more »

Posted on : Thursday , 21st August 2014

Tanzania: New Geothermal Firm Established

BLESSED with the potential to generate over 4,000 megawatts of electricity from geothermal sources, the government has formed a company to steer the country into effectively and beneficially tapping it. Operating as a subsidiary of Tanzania Electric Supply Company (Tanesco), the Tanzania Geothermal Development Company started operations in July this year, according to the Energy and Minerals Minister, Professor Sospeter.... Read more »

Posted on : Thursday , 21st August 2014

African Web platform aims to close funding gap for energy projects

A new online platform is being launched in a bid to link developers of small-scale African energy projects directly with investors and technical advisers with the aim of accelerating the deployment of such projectsacross the continent. Known as GENHUB-Africa, the initiative has received the backing of the New Partnership for Africa's Development (Nepad) Planning and Coordinating Agency and is due to be formally launched by the end.... Read more »

Posted on : Thursday , 21st August 2014

Angola s 1300km, Chinese-built railway is finished

One of China’s biggest construction firms finished building a 1,344km railway in Angola, Africa this week, and plans to put it into operation this year. The $1.83bn project, carried out by China Railway Construction, rehabilitated sections of the old Portuguese-built Benguela railway linking Angola’s Atlantic port of Lobito to the eastern border town of Luau. The new railway is the second-longest railroad.... Read more »

Posted on : Thursday , 21st August 2014

Tanzania: Aga Khan Development Network to Invest U.S. $1 Billion (Sh1.6 Trillion)in Expansion Plans for Tanzania

THE recent visit by His Highness the Aga Khan has opened up Tanzania to greater investments in the economic and social development of the country. The current Aga Khan, who has been a friend of Tanzania since before independence is a keen follower and partner in the socio-economic development of mostly underdeveloped or developing nations, especially in Africa and Asia. Shah Karim's love for Tanzania has amply been proved by his.... Read more »

Posted on : Wednesday , 20th August 2014

Tanzania: Cotton Farmers Receive Training On Use of Pesticides

THE Cotton and Textile Development Programme (CTDP) is promoting 20 high-performing farmers to become village-based agro dealers in-charge of quality inputs. The dealers, according to CTDP Input Market Manager Ms Lillian Magak, have been trained by experts from the Arusha-based Tropical Pesticides Research Institute (TPRI) to ensure that they buy seeds on time, and from reliable sources. "TPRI taught.... Read more »

Posted on : Wednesday , 20th August 2014

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