Market News Page No. 125| Africa Business News | Afrotrade

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Development Finance Institution In UK to Invest $300m in African Power Networks

The UK government’s foreign investment tool, CDC Group, said it would provide more than $300m in a new business to expand electricity networks in Africa, which is one of the biggest hitches to economic development in the world’s indigent continent. CDC chief executive Nick O’Donohoe said, Gridworks Company to get launched soon, and it will make funding in power transmission and distribution infrastructure, as.... Read more »

Posted on : Monday , 10th June 2019

Gas Reserve Discovered in Ethiopia By British Company

NewAGE has discovered 1.6 trillion cubic feet of natural gas in a locality called Elkuran. The company has made the discovery near the site where the Chinse Poly GCL has started test gas production a year ago. Currently the Adigala and Ogaden blocks in Ethiopia are being operated by NewAge. Guang Tutlam (MD), the State Minister of Ethiopia’s Ministry of Mines and Petroleum. “We are now working on the gas commercialization and.... Read more »

Posted on : Thursday , 30th May 2019

Africa Eyeing To Multiply Solar Capacity Six-Fold By 2030

A new report presented by the German Solar Association (BSW-Solar) and the Becquerel Institute has disclosed that with the entry of many international investors and the competion for solar projects, Africa is on track to increase its current solar capacity six-fold or 30 gigawatts (GW) by 2030. In Consideration to the Solarise Africa Market Report, the solar potential in Africa is at least as great as the current demand. “We assume that.... Read more »

Posted on : Thursday , 30th May 2019

Volkswagen To Recover Investment in Rwanda

German car maker, Volkswagen (VW), taking a bet on the upward trajectory of car ownership, last year launched a US$20 million car assembly plant in Kigali, the capital of Rwanda in an expansion drive across Africa. Quickly after, VW also launched its robust mobility service, Move, with a new business model that has it controlling the entire value chain from providing its own cars to its own drivers. With its ride sharing and ride hailing.... Read more »

Posted on : Wednesday , 29th May 2019

Africa wood coating industry is on the rise due to the increase in the residential property market

After the successful implementation of many housing projects, investors are curious about the upcoming demand trends on wood coating market. A recent report by two consultancy firms clearly indicates how the growth of the residential property is booming the demand for wood protection products in Africa. Increase in urban population is creating huge demand for wood protection products such as paints, stains, sealers to develop better residency.... Read more »

Posted on : Wednesday , 29th May 2019

African Car Sales Experiences An Exceptional Raise

A struggling economy, political uncertainty, fragile consumer confidence, mounting pressure on disposable income, and diminished purchasing power as a result of higher interest rates and fuel price hikes, have all taken their toll on domestic new vehicle sales in South Africa. However, it’s not all doom and gloom for the automotive sector. According to the latest new vehicle sales statistics released by the National Association of.... Read more »

Posted on : Wednesday , 29th May 2019

Italian Printing Giants 'Durst' Seeks New Business Opportunities in Africa

Pyrotec PackMedia invested in an eight-color digital label press from Durst, a manufacturer of digital printing and manufacturing technology, bringing the Durst Tau 330 RSC into the African market for the first time. This latest addition of machinery opens up a new digital future with Durst technology and will play an important role in the latest digital label printing business venture of the company. Timothy Beattie,the general manager of.... Read more »

Posted on : Wednesday , 29th May 2019

China's Weeco Recycling Opens New Plastic Recycling Plant in Kenya

A China based recycling firm recently opened a new plastic waste recycling plant in eastern Kenya investing 4.5 billion shillings (US$ 45 million) to help curb environmental degradation. Weeco Recycling Company, which processes 2,000 tons of PET bottles each month and recycles them into pellets and polyester fiber, announced the establishment of two plants in the East African country on Monday. Besides the plant in the town of Athi River.... Read more »

Posted on : Wednesday , 29th May 2019

Sh30.4 Billion revenue is the new benchmark of 2018 for the growth of Mining in Kenya.

Kenya witnessed a remarkable growth in the mining sector last year. A total of Sh30.4 Bn is collected as revenue in 2018 for the mining sector, which represents a year on year growth of 5.9 per cent over the previous year. Although Kenya is home to minerals such as soda ash, gold, diatomite, fluorspar, titanium ore and gemstone, but Soda ash and diatomite are the main drive behind this massive growth. Titanium accounted to be the third most.... Read more »

Posted on : Tuesday , 28th May 2019

Unilever & Crossboundary Energy Discloses 619 Kwp Solar Plant in Kenya

Unilever Tea Kenya and CrossBoundary Energy have authorized a 619 kWp solar plant at the company’s Kericho tea factory. This is the first on-site solar installation for a Unilever facility in Sub-Saharan Africa, and it brings the company near to its target of sourcing 100% of total energy from renewables by 2030. With the addition of solar PV to its actual hydroelectric and biomass resources, over 90% of Unilever Tea Kenya’s.... Read more »

Posted on : Tuesday , 28th May 2019

Introduction to Traffic Lights in Kisumu, Kenya

Traffic lights installed in Kisumu for the first time in upgrading the controle on trafic at a number of intersections and pedestrian crossings. The Kenya National Highways Authority (Kenha) started installing the lights in three key junctions along the Kisumu-Kakamega highway following roads upgrade and increased traffic flow with the onset of devolution. Kenha director general Peter Mundinia said the construction of the four-lane highway.... Read more »

Posted on : Monday , 27th May 2019

5 Billion USD Green City project is Rwandas new approach to a cleaner environment.

After successfully launching construction of Africa’s biggest tech hubs Kigali Innovation City, Rwanda is approaching to a cleaner environment with the Green City project in the capital Kigali in 2020. Rwanda is planning to construct a green city on 620 hectares in Kinyinya Sector, Gasabo District as an approach to achieve a cleaner and safer environment. It will be the first city in Africa to equip with green technology and.... Read more »

Posted on : Saturday , 25th May 2019

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