Uganda, Africa’s third-biggest tea grower, may maintain output in 2014 at last year’s record level of 60 million kilograms (132 million pounds) if the nation, which has had dry weather, gets favorable rains.
Unilever, the world’s second- biggest consumer-products maker, plans to open a manufacturing plant in Ethiopia during the next year in a bid to emulate its expansion into Vietnam, a company official said.
Kenya’s government is preparing a program to encourage commercial banks to reduce their lending rates in order to help boost investment and support economic growth, Treasury Secretary Henry Rotich said.
Safaricom Ltd.’s purchase of Essar Telecom Kenya Ltd.’s assets may help address demands that the company improve its network before being granted a new license, said analysts including Evelyne Wanjiku at Genghis Capital Ltd.
Tanzania’s energy regulator said it’s considering expressions of interest by two companies to each build a 200-megawatt gas-fired power plant that will help reduce an energy deficit in the East African nation.
Kenya Commercial Bank Ltd., the East African nation’s biggest lender by market value, said full-year profit grew 18 percent after it reduced interest expenses by a third and regional operations contributed more.