Latest African business news, economy, corporate, markets updates

Rwanda: Govt Expects to Raise Yearly $2 Million In Taxes for AU Funding

Members of Parliament have approved the relevance of the Bill establishing the levy on imported goods for the financing of African Union (AU) operations.

The Bill, if enacted into law, will help the Government collect around Rwf1.5 billion annual dues to sponsor AU affairs as the continent seeks to get rid of donor dependence.

At least $1.2 billion (about Rwf898 billion) is expected to be raised by all African states to cat.... Read more »

Posted on : Friday , 24th February 2017

Ethiopia: PM Lays Cornerstone for $100 Million Agro-Industrial Park

Prime Minister Hailemariam Dessalegn laid a cornerstone for Baeker Integrated Agro-Industrial Park yesterday in Humera, town of western Tigray State.

Speaking at the occasion, Prime Minister Hailemariam said the industrial park would play a role in creating economic integration with neighboring countries apart from its importance for the national economy.

The premier noted that the industrial park would also support country.... Read more »

Posted on : Thursday , 23rd February 2017

Kenya: Kenyatta University to Construct Massive $48 Million Hostel

Kenyatta University is on the verge of constructing a whopping US$ 48m hostel that will see the invention of 6, 000 rooms.

The project is set to be developed by a New York-based private equity firm Africa Integras which confirms that it is now ready to proceed with the project after concluding negotiations with the financiers. The US fund was awarded the deal to lead the public private partnership (PPP) investment in 2014 and signed a contract in mid 201.... Read more »

Posted on : Thursday , 23rd February 2017

Ethiopia: Coffee Industry Lauds Peace and Stability in Country

The participants of the 15th African Fine Coffees Association (AFCA) Conference and Exhibition in Ethiopia lauded nation's peace and stability.

Participants who exhibited their products at the Millennium Hall in Addis Ababa told The Ethiopian Herald that they had not seen any problem of peace and security during their stay in the country.

Martha Rutynowska-Eising who represented Bosch Packaging, a Germany company, confirmed.... Read more »

Posted on : Thursday , 23rd February 2017

Kenya: Mango Farmers See Increased Profits with Solar Refrigerators

Nziu — Solar-powered cold storage and biological pest control are helping protect Kenya's mangoes from climate change

It is a hot and cloudless morning, a sign that it will be sunny right through the afternoon. Joseph Mailu moves along rows of fruiting mango trees with a long pole in his hand, harvesting the mature fruits.

The succulent green mangoes drop inside a net tied to the tip of the pole which prevents them fr.... Read more »

Posted on : Thursday , 23rd February 2017

Kenya: Solar Refrigerators Helping Farmers Reduce Post Harvest Losses

Nziu — Solar-powered cold storage and biological pest control are helping protect Kenya's mangoes from climate change

The succulent green mangoes drop inside a net tied to the tip of the pole which prevents them fr.... Read more »

Posted on : Thursday , 23rd February 2017

Ethiopia: Corporation to Enable Investors to Obtain One-Stop Govt Services at Industrial Parks

Providing one-stop services to investors makes them more competitive and productive.

The Industrial Parks Development Corporation (IPDC) said that it has set up a new regulation to enable investors obtain one-stop government services in industrial parks.

The draft regulation was tabled yesterday for discussion with concerned sector administration representatives.

On the occasion, Commissioner .... Read more »