Latest African business news, economy, corporate, markets updates

Rwandan Products Well Received at Singapore International Expo

Rwandan products; coffee and tea featured at the just concluded 2017 International Coffee and Tea Expo that was staged in Singapore between March 2 and 4

According to a statement from the Rwandan High Commission in Singapore, the expo was held alongside the Sweets and Bakes Expo 2017 in which honey produced in Rwanda was showcased.

"In a booth managed by the High Commission, a variety of Rwandan coffee and tea were exh.... Read more »

Posted on : Tuesday , 7th March 2017

East Africa: Construction of $600 Million Transnational Highway to Begin Soon

Study for the proposed multinational highway which will link the East African Coastline treading Kenya and Tanzania from Mombasa to Bagamoyo, has been completed.

East African Community (EAC) is finalising plans for the transnational highway, which measures 450 kilometre-long, and expected to cost 600 million US dollars (over 1.2tri/-).

The highway moves from Malindi, through Mombasa and Lunga Lunga on the Kenyan side, befor.... Read more »

Posted on : Tuesday , 7th March 2017

Kenya: $146 Million Allotted for Malindi Airport Expansion Works

Malindi Airport will get an allotment of US $ 146 million in the 2017/2018 fiscal year to execute the current expansion works of the facility to global Standards, parliamentary committee on transport and housing said last week.

The parliamentary committee said the airport received US$ 4.2 million in this fiscal year which ends in June.

Kenya Airports Authority has estimated the grand expansion plans of the airport shall cos.... Read more »

Posted on : Tuesday , 7th March 2017

Kenya: Fintech - the Future of Banking Services is Digital

East Africa's financial sector is on the brink of yet another sweeping revolution that will define the playing field in the next decades to come: financial technology.

Fintech, as it is increasingly being referred to is taking the industry by storm, causing a major disruption becoming a trailblazer and redefining the financial sector in the region and globally.

In this day of fast paced technological innovations, disruption.... Read more »

Posted on : Monday , 6th March 2017

Kenya: Boeing Opens Nairobi Office, Looks to Gain Foothold in East Africa

US-based aerospace and defence company Boeing International is set to open a Nairobi office as it seeks to tap new Africa deals.

Boeing, which has been weighing options of opening an office either in Kenya or Ethiopia to gain a foothold in the eastern Africa market, will also open another office in Johannesburg, South Africa.

Chamsou Andjorin, the Boeing director of government affairs and market development, will head the N.... Read more »

Posted on : Monday , 6th March 2017

Kenya: President Appeals to Doctors to End Strike

Nairobi — President Uhuru Kenyatta has once again appealed to doctors to consider the plight of Kenyans and return to work as a solution is sought for their grievances.

Speaking during a tour of Kiambu County on Saturday, the Head of State said that Kenyans were suffering and doctors should recognise this fact.

He emphasised the need for them to put patriotism first before striving for their interests.

&nb.... Read more »

Posted on : Monday , 6th March 2017

Ethiopia: Oromia State to Initiate Industrialization Based Economic Revolution

Oromia set to initiate a state wide economic revolution to fundamentally overhaul its economy through research based public-private partnership investment strategy aiming at ensuring economic justice among Oromo people.

State Communication Bureau Head Addisu Arega said the initiative would encourage domestic investment which in turn benefits the youth and farmers together with Foreign Direct Investment.

According to Addisu,.... Read more »

Posted on : Monday , 6th March 2017

Tanzania Aims to Triple Power Generation Output by 2020

Tanzania hopes to triple its power generation output by 2020, and boost access to the national grid.

Under the plan, the government hopes to increase output to 4,915MW from 1,501MW currently, and boost electricity connections to 60 per cent of the country's population of about 51 million people, from 36 per cent currently.

The plan will cost $11.6 billion in the short term and will be funded 70 per cent by debt, with govern.... Read more »