Latest African business news, economy, corporate, markets updates

Africa: Ambitious Plan to Link Dar Power Grid With Cairo and Cape Town on the Cards

Arusha — An ambitious project to connect the North and the South points of Africa with a single power line through the Cairo-to- Cape Town grid is in the pipeline and may be functional within three years from now.

The Minister for Energy and Minerals Professor Sospeter Muhongo, revealed the proposed power project during the ongoing 24th Eastern Africa Power Pool Steering Committee Meeting taking place here, saying the special meeting to lay ground .... Read more »

Posted on : Tuesday , 24th January 2017

Tanzania Considers Tax On Charcoal in Bid to Save Forests

Dar es Salaam — Making the fuel more expensive could help cut surging demand, officials believe

Tanzania is considering putting a tax on charcoal with the aim of discouraging the use of the fuel, which is a big source of energy for cooking but also a major contributor to deforestation.

Officials say they believe making charcoal more expensive would significantly reduce demand for it and cut runaway tree felling in the.... Read more »

Posted on : Tuesday , 24th January 2017

East Africa: Investment in Irrigation Only Way to Ensure Food Security

Dar es Salaam — As Tanzania grapples with delayed rains that are certain to adversely affect agriculture, new analyses tout increased investment in irrigation as a solution to food insecurity.

Tanzania generates its food mostly through rain-fed agriculture which is currently being threatened by drought facing East African countries.

Agriculture accounts for about 25 per cent of the gross domestic product (GDP) and the.... Read more »

Posted on : Tuesday , 24th January 2017

Tanzania: Chinese Bus Company Makes Emphatic Entry into Tanzania Market

Chinese vehicle manufacturer King Long has formally started importation of its buses in the Tanzanian market through an agent Pwani Motors Limited.

Speaking during the launch of the sales at the weekend which was attended by bus operators in Tanzania, the company's marketing manager for the Southern Africa region, Mr Danny Fu, said the entry in to the Tanzanian market followed an intensive market research.

"We conducte.... Read more »

Posted on : Tuesday , 24th January 2017

Tanzania: Investors Urged to Setup Building Materials Factory In Zanzibar

Zanzibar Building Agency (ZBA) Director General (DG), Mr Ramadhani Mussa Bakari, has called upon investors to set up factories for building materials in Zanzibar to help citizens to have affordable houses.

Speaking to journalists in Dar es Salaam yesterday, Mr Bakari visited various projects carried by Tanzania Building Agency (TBA), Zanzibar Building Agency (ZBA) Director General (DG), Mr Ramadhani Mussa Bakari said the move would reduce cost of buildin.... Read more »

Posted on : Tuesday , 24th January 2017

Industry Experts, Top Professionals from Over 30 Countries to Convene at AUTOEXPO AFRICA 2017

Kenya’s GDP per capita is expected to grow at a remarkable compounded annual growth rate of 7.5% between 2000 and 2020 which is expected to drive an increase in personal consumption and sale of motor vehicles. The purchase of cars, motorbikes and other commercial vehicles accounted for 1.5% of total consumer expenditure last year and is expected to steadily grow till 2025 as incomes continue to rise.

Supporting and engaging the East African automotive.... Read more »

Posted on : Monday , 23rd January 2017

East Africa: Fuel to Cost More as Crude Prices go up

Consumers in East Africa will pay more for refined petroleum products, as global crude oil prices rise.

Ecobank Research, an arm of Ecobank Group, said crude oil prices on the international market have rebounded upwards from $50 a barrel, following a decision by members of the Organisation of Petroleum Exporting Countries (OPEC) and other producers in early December 2016, to cut output by 1.8 million barrels per day.

The de.... Read more »