Market News| Africa Business News

Tanzania Pension Fund Loan USD2.1m to Biotech Industrial Project

The National Social Security Fund (NSSF) of Tanzania recently disbursed USD2.1m to the Tanzania Biotech Product Limited in Kibaha for production expansion. The factory is under the National Development Corporation (NDC) and is designed to manufacture biotech products that kill mosquito larva. The NSSF decision to invest in such project follows the directives of President Magufuli for pension funds to grant funds to industrial.... Read more »

Posted on : Thursday , 1st September 2016

Egyptian Samcrete�s IDG studies developing industrial zones in KSA, Ethiopia

Industrial Development Group (IDG), the industrial arm of Egypt-based construction firm Samcrete, is studying developing major industrial zones in Ethiopia and Saudi Arabia. The move will be part of IDG’s strategy to expand businesses abroad. Sameh Attia, IDG’s managing director, said his firm is currently conducting studies on offers received from a number of investors to develop major industrial zones in Ethiopia and.... Read more »

Posted on : Wednesday , 31st August 2016

Tanzania: Private Sector Seen As Big Cog for Industrial Growth

The Prime Minister, Mr Kassim Majaliwa, has called on the private sector to support the government's quest for an industrial economy, insisting that their contribution was vital towards realising the government's dream. "We need to work together so that our national development agenda can be achieved. This collaboration will surely bring an economic revolution as well as helping our communities to prosper," he.... Read more »

Posted on : Tuesday , 30th August 2016

South Africa: Trade and Industry Committee Held Colloquium On Local Public Procurement

The Portfolio Committee on Trade and Industry held a successful two-day colloquium on Local Public Procurement. The Committee looked at policy instruments advancing industrialisation with specific focus on localisation and designations as they relate to Local Public Procurement. Committee Chairperson, Ms Joanmariae Fubbs, emphasised that industrialisation is central to government's plan for radically transforming the South African.... Read more »

Posted on : Monday , 29th August 2016

Simulation Software Reduces Turbine Maintenance Downtime

The maintenance arm of a South African electricity provider is better able to plan for ultrasonic testing of the steam turbine blades in its power plants. Part of why people seem skeptical of the Industrial Internet of Things (IIoT), in my opinion, is that they expect it to be some sort of magic pill, and then they don’t think it can possibly live up to the hype. Well, if you expect it to be a magic pill, then it won’t.... Read more »

Posted on : Saturday , 27th August 2016

TaeguTec�s century of expertise machine tools in South African industries

For 100 years, TaeguTec has been in the business of supplying the best products to companies around the world. While times have changed the one that has not is the superior quality and service offered by TaeguTec to all the manufacturing facets in South Africa. As the continent’s largest African investor, South Africa sends more than 25% of its manufactured products into the continent; that is why cutting tools need to be.... Read more »

Posted on : Friday , 26th August 2016

Ethiopia cements economic ties with Turkey with $13.5 million salt manufacturing plant

An Ethiopian- Turkish deal that mulled creation of a salt manufacturing industry has come to fruition with the establishment of a $13.5 million plant covering 50,000 square meters at the Afar regional state in Northern Ethiopia. Currently, the manufacturing company has the capacity to create more than 300 job opportunities. This figure will reach 8,000 when the company becomes operational at its full capacity. The company.... Read more »

Posted on : Thursday , 25th August 2016

Tanzania: Invest in Industries, Pension Funds Told

Arusha — As Tanzania treads its path to industrialisation, social security funds have been urged to invest in industries. The minister of State in the Prime Minister's Office (Policy, Parliament, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama, says industrialisation forms a fundamental linchpin to the fifth phase government's plans for the country's economic transformation Ms Mhagama said this on.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya: Japanese Firm to Build Organic Waste Processing Plant in Meru

A Japanese company has started talks with the Meru County government to establish an organic waste processing plant in the county. Meiwa, a company that converts organic waste into charcoal through biomass carbonisation technology intends to set up in Meru before moving to other parts of the country. Speaking when he met Meru Governor Peter Munya on Monday, Meiwa International manager Takeo Tokunari said the technology provides.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Indian Companies Boost Investments in Industries

India plays a crucial role for Tanzania to realize her industrialisation agenda as Indian companies boost investments in industries, cabinet ministers said on Tuesday. Tanzania envisions becoming a middle income country by the year 2025 and the government wants the industrial sector - which currently contributes roughly eight per cent to the country's gross domestic product (GDP) - to put in 15 per cent to the economy by the year.... Read more »

Posted on : Thursday , 18th August 2016

Tanzania: Pension Funds Urged to Invest in Industries

Arusha — As Tanzania treads its path to industrialisation, social security funds have been urged to invest in industries. The minister of State in the Prime Minister's Office (Policy, Parliament, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama, says industrialisation forms a fundamental linchpin to the fifth phase government's plans for the country's economic transformation Ms Mhagama said this on Monday.... Read more »

Posted on : Thursday , 18th August 2016

Trade, Industry Critical for Africa's Development - African Union

Africa should prioritise trade and industrial sectors to address most of the prevailing challenges the continent faces, including the high rate of unemployment, to ensure sustainable development, Fatima Haram Acyl, the African Union (AU) commissioner for trade and industry, has said. "While everyone should work to ensure peace, food security, and creating more jobs for the youth, I believe all these can happen if we invest in trade.... Read more »

Posted on : Monday , 18th July 2016