Latest African business news, economy, corporate, markets updates

Tanzania: Isles to Engage Honest Oil Explorers

Zanzibar — The two-week Zanzibar House of Representatives session has ended here with the government promising to be careful in issuing international tenders for oil companies to explore for oil and gas.

Moving a motion to adjourn the session to November 23, this year, the Second Vice- President, Ambassador Seif Ali Iddi, said: "We will be careful in entering contracts with companies interested in exploring for oil and gas. Our natural r.... Read more »

Posted on : Tuesday , 4th October 2016

Kenya-Israel strike deal to boost local innovation

Israel has entered a joint ventures deal that will give Kenyan start-ups, innovators and entrepreneurs access to acceleration and skills training.

The agreement was signed last week in Tel Aviv, Israel, by Konza Technopolis Development Authority (KoTDA) CEO John Tanui and Tel Aviv Global CEO Eytan Schwartz. Mr Tanui said the partnership would enhance the innovation ecosystem by creating opportunities for joint ventures between entrepreneurs in Keny.... Read more »

Posted on : Tuesday , 4th October 2016

Tanzania: Coffee and Flower Growers Turn to Organic Farming

Moshi — Coffee and flower growers seem to be ready to embrace organic farming and give up conventional agricultural practices that use synthetic pesticides and watersoluble synthetically purified fertilizers.

This comes after decades of conventional agriculture that has seen coffee production, the typical cash crop in Kilimanjaro and Arusha regions drop in quality as well as quantity.

Kilimanjaro growers underwe.... Read more »

Posted on : Tuesday , 4th October 2016

Egbin Power Plc set to expand into Tanzania

Nigerian Energy company, Egbin Power Plc, is expanding and set to mark its new territory in Tanzania, by constructing a natural gas-fired power plant, Tanzania Daily News reports.

Speaking to Tanzanian journalists, the firm’s Chief Executive Officer, Mr Dallas Peavey, said the construction of the plant is expected to commence anytime after the company, under Sahara Group, has inked the investment pact with the host government for the public-p.... Read more »

Posted on : Tuesday , 4th October 2016

President Uhuru Kenyatta to launch second phase of SGR construction

President Uhuru Kenyatta is set to launch construction of the second phase of the Standard Gauge Railway (SGR) in a fortnight even as Kenyans demand for a bigger stake in the project.

The planned launch of the new phase, from Nairobi to Naivasha, comes at a time when there is growing discontent, especially from the youth that the Chinese are taking up jobs meant for locals.

During yesterday's Youth Summit at State Hou.... Read more »

Posted on : Tuesday , 4th October 2016

Kenya: County to Build Sh280 Million Stadium to Boost Growth

Thara-Nithi county government is set to construct a stadium that will cost Sh280 million in efforts to promote growth.

Chuka/Igambang'ombe MP Muthomi Njuki said the facility, which is one of five mini-stadiums to be constructed in the county, will boost the economy.

He said youths will also benefit by being hired to carry out construction work.

"The work will create job opportunitie.... Read more »

Posted on : Tuesday , 4th October 2016

Ethiopia Set to Gain Transport Lifeline to Sea with New $4 Billion Railway

Construction of a Chinese-funded electric railway, linking Ethiopia’s capital along its main trading route to neighboring Djibouti, has been completed, providing the African nation with much-needed improved rail access to a seaport.

The $4 billion project, implemented by China Railway Engineering Corp. and China Civil Engineering Construction Corp. will be commissioned next month.

The government is pinning its h.... Read more »