African Business News

UAE & Uganda Signs Agreement to Start Agricultural Free Trade Zone

Uganda will host a 35 member delegation from the United Arab Emirates as part of efforts to actualize plans to establish one of the first agricultural free zone in the world.

The free zone, which is expected to occupy 2,500 hectares will attract investment from companies, especially from UAE in agricultural processing and packaging for export.

Read more...

Kenya has set aside $10 million to help local start-ups in the mobile telephone software and hardware segments to grow

Joe Mucheru, the ICT minister, told the annual meeting of the ICT industry in the capital Nairobi that he was concerned by the country’s imports of 50 million telephone handsets every two years, challenging local firms to start making them locally.

Why can’t we leverage on the skills available locally to manufacture these handsets that are suitable for our markets?” he asked.

Kenya has 45.5 million mobile phone subscribers.  A range of imported mobile devices from companies like Apple and Huawei are more preferred by the Kenya subscribers.

Read more...

“Dar to be a Medical Tourism Hub in EA”, This is envisioned to be a centre of excellence in the region

It has been announced that Dar at Tanzania is about to become a Medical tourism Hub; The hub of high-tech cardiovascular treatment which will include a special wing for children in East Africa.

This will happen through the extension of the Jakaya Kikwete Cardiac Institute (JKCI) at Mloganzila.

Read more...

The second close of East African Catalyst Fund has achieved $155 Million

With commitments from regional investors increasing by a factor of 50 per cent for Catalyst Fund II, the emergence and mobilization of local capital marks the coming of age of the regional private equity industry.

 The first Catalyst Fund raised to $125 million which it invested in 9 companies in Kenya, Tanzania and Ethiopia with diverse interests in manufacturing of consumer goods, pharmaceuticals, industrial agro-processing, logistics and engineering as well as healthcare, technology and financial services.

 In launching its second fund, Catalyst cements its position as the leading regional private equity fund manager with the largest pool of funds under management amongst its peers dedicated to the East African region.

 This is about Ksh 15.5 billion of capital commitments from leading international and regional investors, as a successor to Catalyst Fund I, a $125 million fund raised in 2009.

Read more...

Latest African news, articles, business information and special reports from across the African continent.