Latest African business news, economy, corporate, markets updates

South Africa backs India on solar sourcing

outh Africa has backed India’s local sourcing rules in solar equipment manufacturing, while calling for BRICS countries to come up with a joint strategy to work around regulations of the World Trade Organisation (WTO).

“BRICS nations need to compare notes on how to re-construct their renewable energy programmes to ensure that the localisation requirements do not technically flout WTO rules,” South Africa’s Trade and Industry.... Read more »

Posted on : Thursday , 13th October 2016

Kenyan Tycoon Naushad Merali Set To Open $30 Million Milk Factory

Sameer Agriculture & Livestock Limited (SALL Kenya), a food processing company owned by Kenyan multimillionaire businessman Naushad Merali, is set to open a $30 million milk factory later this year in Kenya.

According to a report by Business Daily, SALL’s new dairy processing plant is currently being set up in Nakuru and will be operational by June next year. When completed, the plant is expected to employ an estimated 500 people.

Posted on : Thursday , 13th October 2016

Tanzania: Traders Now Seek to Benefit From Improved Airport

Dodoma — In the recent past, the government spent nearly Sh11.8 billion on the expansion of Dodoma Airport .

Work on the much touted renovation has been carried out at a time when preparations to shift the government's seat from Dar es Salaam to the designated capital are in full swing.

President John Magufuli said recently that his fifth phase government would be fully operational in Dodoma within the next four.... Read more »

Posted on : Thursday , 13th October 2016

Kenya, Korea sign pact to set up ICT hubs

Kenya and Korea have signed an MoU to bolster growth of ICT in the country which will see the latter develop a technology institute at Konza technocity.

The deal signed by ICT CS Joe Mucheru and his Korean counterpart Choi Yanghee will see the two countries exchange ideas on how to change lives through ICT.

This will entail exchanges between government ministries, agencies, research and training institutes, businesses.... Read more »

Posted on : Thursday , 13th October 2016

Equity firm Fanisi targets Sh10 billion in fundraising for regional investments

Fanisi Capital, a private equity firm targeting start-ups, aims to raise between Sh7.6 billion ($75 million) and Sh10.13 billion ($100 million) in the second round fundraising for regional investments.

The fund targets enterprises in Kenya, Rwanda, Tanzania and Uganda. Chief executive Ayisi Makatiani said the Fanisi Capital Fund II hopes to generate up to $40 million (Sh4 billion) locally, with the rest coming from international investors.

<.... Read more »

Posted on : Thursday , 13th October 2016

Rwanda cheapest for solar home systems

With only $6.5/month for two years and with no down payment, Rwandan consumers have the possibility to acquire high quality certified solar home system worth over $150 with four lights, a phone charger and a radio.

Energy opportunity

As a result of customer-centric project design, in collaboration with Energy Development Corporation Limited (EDCL) that uses large scale operations and a unique delivery model in collaboration with l.... Read more »