Latest African business news, economy, corporate, markets updates

East Africa Leads Continent in Renewable Energy Uptake

East Africa’s economies top countries in sub-Saharan Africa in injecting clean energy into their national grids, through new projects in wind and solar.

The latest report of Climatescope, the clean energy country competitiveness index by Bloomberg New Energy Finance, shows that clean energy policies are becoming more widely adopted across sub-Saharan Africa.

“Fourteen countries from the region have introdu.... Read more »

Posted on : Wednesday , 28th December 2016

Africa: Power Plants Gear Up for Digital Transformation of Power Generation

At nearly every industry event and customer meeting over the past year or so, the conversation has inevitably turned to the subject of “change.” It can be changes happening within our industry, or broader changes in the economy or society – like the impact of smartphones and social media on daily life.

A few days ago, at GE’s Power Services Middle East & Africa Customer Summit, themed ‘The Digital Transformation: Our Jou.... Read more »

Posted on : Wednesday , 28th December 2016

Kenya: Tea Farmers See Record Earnings in 2016

The year 2016 was good for tea farmers thanks to high prices the produce fetched amidst a weaker dollar.

Growers affiliated to Kenya Tea Development Agency (KTDA) earned a record-high bonus compared to any other year in the history of the crop.

Farmers earned Sh84 billion from leaves delivered in the 2015/2016 season, marking the second year of improved earnings helped by a stable exchange rate and high pricing of the commo.... Read more »

Posted on : Wednesday , 28th December 2016

Tanzania: Mining Firm Pays Govt $5.8 Million in Taxes

Petra Diamonds has paid 5.8 million US dollars (about 12bn/-) to Tanzania in various taxes making the country the highest paid in nations where the firm operates.

The diamond firm, registered in London Stock Exchange, made a total payment of 8.9 million US dollars (18bn/-), where Tanzania payments account for 66 per cent, South Africa 32 per cent and Netherlands 2 per cent.

The company has operations in six countries but ma.... Read more »

Posted on : Wednesday , 28th December 2016

How Will Trump Impact East Africa's Industrialisation Drive?

The global mood has shifted since Donald Trump’s surprise victory in the US presidential election. Europeans are fretful and Mexicans are panicking but many of the US investors we met in mid-November have become intensely optimistic about the prospects for their own economy. No one is quite sure whether this will benefit emerging markets or not and many Trump supporters probably don’t care. Their vote was to make America great again, not to lift up emerging or frontier e.... Read more »

Posted on : Wednesday , 28th December 2016

Transform Agriculture in Africa by AFDB

97 percent of the Bank's agriculture projects rated satisfactory.

Posted on : Tuesday , 27th December 2016

Ethiopia: 'We Continue Developing Renewable Energy Sources' - PM

Ethiopia is highly endowed with electric power potential that can be developed from water, solar and geothermal. Realizing the potential, the nation has been investing a great deal to cultivate the energy sources from wind, water bodies and the like.

In relation to the efforts undertaken so far, the country has increased significantly its power generation capacity since Gibe III Hydroelectric Dam began functioning. This highest Roller Compacted Concrete .... Read more »