Market News Page No. 586| Africa Business News

NAPM calls for elimination of VAT on life saving medicines

The National Association of Pharmaceutical Manufacturers (NAPM) has proposed a zero Value Added Tax (VAT) rating on medicines in its submission to the Davis Tax Committee, tasked with assessing the country's tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability in South Africa. Although the proposed Zero VAT rating requested consideration for all medicines,.... Read more »

Posted on : Saturday , 6th September 2014

Multi-strain vaccine for HPV, suitable for girls, boys, women, men

The Human papillomavirus (HPV), which can cause cervical, anal and penile cancers, along with genital warts, has more than 130 strains, 40 of which affect the genital area. "While most people clear the virus naturally, others are not able to," says Dr Trudy Smith, Johannesburg-based gynecologist and obstetrician. "HPV is a particularly strong virus that can cause infections that lead to cancer in both men and women. There.... Read more »

Posted on : Tuesday , 12th August 2014

Tanzania: Bauchi PHCDA Immunises Children of IDPs Against Polio Virus

Dr. Adamu Gamawa, new Executive Chairman, Bauchi State Primary Healthcare Development Agency (PHCDA), said on Tuesday that efforts had been intensified to immunize against polio virus, children of internally displaced persons living in the state. Gamawa told the News Agency of Nigeria (NAN) in Bauchi on Tuesday that although he inherited an agency that had worked hard to ensure that the state was free of the wild polio virus, his.... Read more »

Posted on : Tuesday , 12th August 2014

Kenya: Counties, Rotary Club Enter Polio Deal

COUNTY governments have signed an agreement with the Rotary Club to eradicate the spread of polio by 2018. The two are expected to roll out nationwide campaigns to increase the scope of vaccinations. Dubbed 'This Close', the campaign is expected to boost government efforts of vaccinating children, while mopping out high risk counties. The initiative was launched at Laico Regency Hotel, Nairobi, yesterday. Rotary Club of Nairobi.... Read more »

Posted on : Tuesday , 12th August 2014

East Africa surpasses Middle East with high paying jobs in oil and gas

The study by Von Essen, providers of tax advisory services to international contractors, said that a growing number of oil and gas jobs offering more than US$171,172 per annum are being created due to increased exploration and extraction activity in the continent. Von Essen added that Africa is now second to Europe for the number of highly paid roles advertised for top UK oil and gas industry professionals. Europe accounts for 41 per cent.... Read more »

Posted on : Monday , 11th August 2014

Kenya's import bill has accelerated by 727 million U.S. dollars

NAIROBI, (Xinhua) -- Kenya’s import bill has accelerated by 727 million U.S. dollars in the first six months of this year, compared to a similar period in 2013, Kenya National Bureau of Statistics (KNBS) said on Saturday. The bill swelled from 7.9 billion dollars in the first half of 2013 to 8.6 billion dollars this year on account of increased inflows of industrial supplies and petroleum products. The non-food industrial.... Read more »

Posted on : Monday , 11th August 2014

Africa Oil and Tullow Oil seek partner for Kenyan oilfields

The Canada-listed company said that the partners have discovered oil reserves in Block 13T and Block 10BB in northern Kenya’s South Lokichar Basin, estimated to hold a combined 600mn barrels. Keith Hill, CEO of Africa Oil, said, “We will likely bring on a partner to help develop Lokichar Basin reserves but no timetable has been set.” Oil discoveries in Uganda and Kenya and gas deposits found offshore Tanzania and.... Read more »

Posted on : Monday , 11th August 2014

Gas Discoveries Fuel Investments in East Africa

Significant gas discoveries in Tanzania, Kenya and Mozambique have put East Africa in the global spotlight, according to DHL’s executive. Steve Harley, president of energy sector at DHL, said that while Angola and Nigeria have always been the most notable producers within the sub-Saharan region, oil and gas activities in East Africa are now creating a stir amongst global exploration companies and potential investors. “Oil.... Read more »

Posted on : Monday , 11th August 2014

Kenya plans to reduce the cost of electricity by 47 per cent in the next three years

THIKA (Xinhua) -- A Kenyan official said Sunday that the country plans to reduce the cost of electricity by 47 per cent in the next three years amid increased power generation from cheaper sources. Principal Secretary for Energy and Petroleum Joseph Njoroge said the electricity producer, Kenya Power, is implementing a countrywide operation to upgrade the power network ahead of the expected additional generation capacity. "The.... Read more »

Posted on : Monday , 11th August 2014

Kenya: Electricity Prices to Drop Through Ongoin Power Project

Kenyans will benefit from approximately 47 percent reduction in electricity prices in the next three years owing to increased generation from cheaper sources of power, Principal Secretary for Energy and Petroleum, Eng. Joseph Njoroge, has said. Njoroge said generation projects for the 5,000 MW additional capacity in the medium term are well on course with electricity prices for domestic customers expected to come down from the.... Read more »

Posted on : Friday , 15th August 2014

Kenya: Chinese Firm to Build Three Berths in Kenya's Lamu Port

Nairobi — Kenyan President Uhuru Kenyatta on Friday signed a 480 million U.S. dollar agreement with a Chinese firm for the construction of the first three berths of Lamu Port in the coastal region. The deal for the three berths under the Lamu Port - South Sudan - Ethiopia Transport Corridor Project (LAPSSET) Corridor Program was signed with China Communications Construction Company Ltd. Kenyatta said.... Read more »

Posted on : Monday , 11th August 2014

US$45.5m multi-storey car park to be constructed in Nairobi, Kenya

City Hall Nairobi has announced a tender notice for the construction of a 3000 multi-storey car park in Nairobi’s Central Business District (CBD). The project involves developing an AT Sunken Car Park building at a cost of US$45.5m. The project will be undertaken through a public private partnership where the Government of Nairobi County is expected to provide the land for the project, while investors will provide the funds.... Read more »

Posted on : Monday , 11th August 2014