N e w s

Tanzania Gold and Minerals Exports Go up In January 2021

The Bank of Tanzania released its Monthly Economic Review – Feb 2021, indicating that the total exports of goods and services amounted to US$ 8,741.8 million in year ending January 2021, representing a slight decrease from US$ 9,835.5 million recorded in the corresponding period in 2020. Traditional exports amounted to US$ 705.4 million from US$ 959.7 million, accounting for 8.1 per cent of total exports. Non-traditional exports.... Read more »

Posted on : Thursday , 1st April 2021

Ethiopia to Finance and Build $200m Agro-Industrial Park in Oromia

The Oromia Industrial Parks Development Corporation of Ethiopia has signed an agreement worth around US$ 200 million to build a 250ha agricultural processing park in the western highlands province of Oromia. The agreement was signed by the head of the Ethiopian Industrial Parks Development Corporation Mr Sisay Gemechu, and the head of the Walabu Construction Share Company Mr Dereje Ermias, a contractor based in Oromia. The project is.... Read more »

Posted on : Monday , 15th March 2021

Rwanda Raises 2021-22 Budget to $ 3.4 Billion

Rwanda has announced plans to increase its 2021-2022 budget by US$ 220.8 million from its initial US$ 3.2 billion, hitting US$ 3.4 billion. This comes even as the government battles disruptions from the global COVID-19 pandemic and seeks to revive the economy. The budget, primarily funded by domestic revenues projected to increase from US$ 1.6 billion to US$ 1.7 billion, will majorly spread across the education sector, followed by the.... Read more »

Posted on : Monday , 15th March 2021

Safaricom Market Cap Crosses Ksh 1.5 Trillion

Kenya’s largest listed company hit a market capitalization Ksh 1.52 Trillion after the company’s shares touched a new record high of Ksh 38. On 11th Feb, the Nairobi Securities Exchange listed firm announced it was paying an interim dividend of KSh 0.45 per ordinary share, amounting to KSh 18.029 Billion for the year ended 31st March 2021. The company’s board cited the need to support its shareholders during these difficult times.... Read more »

Posted on : Friday , 19th February 2021

Tanzania Sign USD 1.3b SGR Railway Construction Agreement with China

Tanzania’s President John Magufuli and China’s Foreign Affairs Minister Wang Yi signed in last month the agreement for the construction of the 5th phase of the new Standard Gauge Railway. The train will run for 341 km from Mwanza, the port city on the shore of Lake Victoria in northern Tanzania, to Isaka in the Shinyanga Region. The construction will be executed by China Civil Engineering Construction Corporation and China Railway.... Read more »

Posted on : Friday , 19th February 2021

Kenya & United Kingdom Sign Trade Agreement

Kenya and the United Kingdom on 8th December 2020 formally signed a trade agreement in London. Betty Maina, Trade cabinet secretary signed on behalf of Kenya while Ranil Jayawardena, international trade minister signed on behalf of the UK. The trade deal will enable Kenyan exporters to continue accessing the UK market under a duty free, quota-free arrangement. The deal specifically touches on coffee, tea, fresh vegetables and cut.... Read more »

Posted on : Monday , 11th January 2021

‘Ethiopia is Emerging as Manufacturing Hub in Africa’

Ethiopia is one of the mineral rich countries of East Africa, which has been scouting for Indian investment. Besides huge gold reserves, the country has been a significant producer of sapphire, opal, and emerald in recent years. The field is wide open for investors to bring these extraordinary gemstones to the global market. The other resources discovered in different regions of the country include iron, phosphorus, tantalum, salt, potash, soda.... Read more »

Posted on : Monday , 11th January 2021

Rwanda: Targets Annual Industrial Growth of 14 Percent

Rwanda is setting an annual industrial growth of 14 % by 2020 from the current 2 % in 2016 -17 fiscal year, Rwandan minister of industry said during celebrations of Africa Industrialization Day, at the Kigali special economic zone. Vincent Munyeshyaka, Minister of Industry also said that his government target is to see industrial sector contribute at least 20 % to GDP up from the current 17.1 % in 2016-17 fiscal year. The move requires.... Read more »

Posted on : Monday , 30th November 2020

Tanzania: Right Move on Unlocking Agro-Industrial Potential

In the year 2000, the Tanzania government of the day officially launched the Tanzania Development Vision 2025 with the overreaching development goal of accomplishing a semi-industrialised, middle-income competitive economy by 2025. What with one thing leading to another, successor governments came up with the 2011/12—2015/26 Long-Term Perspective Plan which embodied 5 Year Development Plans (FYDPs). The 1st such quinquennial.... Read more »

Posted on : Friday , 27th November 2020

Pharmaceutical Industry to Create Opportunities for Manufacturers and Exporters in Kenya

The pharmaceutical industry in Kenya is growing at a speedy pace and offers great opportunities for manufacturers and exporters to establish their products and services in the lucrative market for pharmaceuticals in East Africa. Kenya is presently the largest producer of pharmaceutical products in the Common Market for Southern and Eastern Africa (COMESA) region, supplying more than 50% of the regions’ market. Kenya’s prescription.... Read more »

Posted on : Monday , 2nd November 2020

Ethiopia’s Export Revenue Increased By U.S. $115.6 Million

Exports in the first quarter of the fiscal year 2020 compared to in the previous fiscal year, export revenue increased by 115.6 million USD or 16 percent and a total of US $ 838.6 million was earned, according to the Ministry of Trade and Industry (MoTI).The industrial sector earned 95 percent and 94 million USD, while agricultural products earned 73 percent and 541 USD .The mining sector has achieved 300 percent of the plan and 205 million USD.... Read more »

Posted on : Friday , 30th October 2020

Electronic manufacturer Anker Innovation set to launch in Kenya

Anker Innovation Technology Co. Ltd, a manufacturer of electronic products, has announced that they have picked Kenya as its launch pad in the East African market.They intend to tap into Kenya's exponential growth in use of technology and smart devices to transact business.Anker's Innovations Regional Sales Head, Faraz Mehdi said, "We are extremely excited to venture into the Kenyan market which has the highest share of internet usage through.... Read more »

Posted on : Wednesday , 7th October 2020



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