African Business News

Ethiopia earns record 866 mln USD from coffee export

Ethiopia has announced a record 866-million-U.S.-dollar earning from coffee export during the just concluded fiscal year.
The announcement by the Ethiopian Coffee and Tea Development and Marketing Authority on Wednesday said Ethiopia has secured the revenue from the export of 221,000 tonnes of coffee to the global market.

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Urban road upgrading project kicks off in Rwanda

Rwanda’s urban road upgrading project has commenced in the Kigali and is being undertaken by China Road and Bridge Cooperation (CRBC) and expected to improve the overall traffic situation in Kigali.

The road upgrading project is expected to be 54.56 kilometers where the investment is being done by China Export-Import Bank in form of preferential loan.

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Africa-India trade multiplied in last 15 years: PM Modi at AfDB meet

NEW DELHI: Prime Minister Narendra Modi on Tuesday said that "Africa is top priority for India's foreign and economic policy and there isn't a single African country which hasn't been visited by an Indian minister."
"India's partnership with Africa is based on a model of cooperation which is responsive to the needs of African countries," PM Modi said while speaking at the 52nd African Development Bank (AfDB) meet in Gujarat's Gandhinagar .

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South Africa unveils first locomotive to be manufactured in Africa

Transnet which is South Africa’s rail company recently unveiled the first locomotive to be designed, engineered and manufactured in Africa, the Trans-Africa locomotive.

Transnet Chief Executive Officer, Siyabonga Gama confirmed the news and said that the new locomotive, which will be assembled at the company’s production facility in Koedoespoort, east of Pretoria, symbolized a crucial and vital step in its strategy of becoming a leading manufacturer and supplier of rolling stock in Africa.

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