Market News Page No. 331| Africa Business News | Afrotrade

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Mondi First-Half Profit Rises as Consumer Packaging Volumes Gain

Mondi Ltd., a South African manufacturer of packaging for products from coffee beans to industrial chemicals, said first-half profit rose 11 percent as volumes in its consumer business increased. Earnings per share excluding one-time items rose to 75 euro cents a share from 67.8 euro cents a year earlier, the Johannesburg-based company said in a statement on Thursday. Sales declined 4.2 percent to 3.3 billion euros ($3.7.... Read more »

Posted on : Friday , 26th August 2016

Ethiopia sets up $10 million ceramic factory to stem imports

The Himrawi Investment and Trading Private Limited Company has invested $10million in construction of a ceramic factory as the country looks to local industries to tame biting shortage. According to the company general manager Frealem Shibabaw the company has conducted studies and ascertained mineral wealth at Sekota area in Amharic State, Northern Ethiopia. Ethiopia exports eight million tiles from China annually. The.... Read more »

Posted on : Friday , 26th August 2016

Africa: Tanzania Can Learn From Iceland Geothermal Energy Strides

Iceland — Geothermal energy is not among the much known sources of energy in Tanzania. However, the country is believed to be endowed with an abundant resource base that can generate electricity and furthermore utilise the spent geothermal fluid from power plant in social-economic activities such as agriculture, fishing, and recreational activities and in industries. According to the available geoscientific data and current.... Read more »

Posted on : Friday , 26th August 2016

Mulberry & Prince, Cape Town, South Africa- Interiors & Lighting

A taste of the Big Apple in the heart of the Mother City. That’s the idea behind Mulberry & Prince, a modern luncheonette offering New American cuisine, that is causing quite a stir on the junctions of Cape Town’s Bree and Pepper Streets. The space itself is equally intersectional, with local designers Atelier Interiors combining a rustic colour palette of dusty pink, charcoal, and terracotta, and original.... Read more »

Posted on : Friday , 26th August 2016

Off-Grid Solar Lighting Up Ethiopia

For the millions of people living in remote rural areas of Ethiopia who lack access to the power grid or cannot afford electricity, . Instead of relying on kerosene, candles, dry cell batteries and other fossil fuel-based sources of power, they can now turn to off-grid solar to light up their homes, watch television and charge mobile phones, thanks to an initiative of the Government of Ethiopia supported by the World Bank..... Read more »

Posted on : Friday , 26th August 2016

Foreign Auto Manufacturers Look to Africa for Expansion

International car companies are looking at Africa as the last frontier for automotive growth, beginning a scramble for market share. South Africa is the only country south of the Sahara with an established motor manufacturing industry and some of the world’s biggest car makers hope to use it as a base from which to expand sales around the continent. German brands such as BMW and Volkswagen; Ford, Chrysler and.... Read more »

Posted on : Friday , 26th August 2016

China To Invest $823M In South African Auto Manufacturing

China’s government-owned Beijing Automobile International Corporation said it plans to invest $823 million in a new automotive manufacturing plant in Port Elizabeth, South Africa. The new facility in the Eastern Cape’s Coega Industrial Development Zone is expected to produce between 40,000 and 50,000 cars a year, with capacity to double in a later second phase, The Brics Post reported. This cars will be sold in South.... Read more »

Posted on : Friday , 26th August 2016

Kenya Power and Toshiba sign MoU in support of efforts to reduce electricity distribution losses

Nairobi, August 25, 2016……Kenya Power and Toshiba Transmission & Distribution Systems (India) Private Limited (TTDI) , subsidiary of Toshiba Corporation, have signed a memorandum of understanding (MoU) on implementation of a pilot project aimed at decreasing distribution losses in the national grid. The MoU will guide installation, testing and evaluation of equipment that will be supplied by TTDI, on a trial.... Read more »

Posted on : Friday , 26th August 2016

Continental Water Facility to Boost Hydropower and Irrigation in Tanzania

The African Water Facility (AWF) has granted Tanzania €2 million for a pre-feasibility study of a multi-purpose dam, irrigation and hydro-power project on the Ruhuhu River. The AWF is a multilateral fund that provides grants and technical assistance to governments, non-governmental organizations and private-public partnerships to enable them secure investments and implement sustainable water projects in Africa. It was.... Read more »

Posted on : Friday , 26th August 2016

Kenya: State House Holds Summit on Agricultural Development

The Kenya government on Monday played host to stakeholders from the agriculture sector at the State House. The summit entertained honest and critical exchange of ideas and feedback among the various stakeholders and government representatives. Discussions included mechanisation of the sector, automation of fertiliser distribution among other key issues. The event was attended by Agriculture Cabinet Secretary,.... Read more »

Posted on : Friday , 26th August 2016

Soil Manager App Launched to Support Farmers in Africa

Total Quality Assurance provider- Intertek, has launched a Soil Manager app that will give farmers across the continent access to a range of farming services. “There is a pressing need to support the agricultural sector in Africa in order to ensure food security. This app could revolutionize the way that farmers do business through linking farmers with fertilizer merchants and even by integrating sponsorship into the.... Read more »

Posted on : Friday , 26th August 2016

Japan and Kenya Set to Sign Investment Promotion Agreement

As part of efforts to boost economic growth and strengthen bilateral ties, the Government of Japan and the Government of the Republic of Kenya will on August 28, 2016, sign an agreement for the promotion and protection of Investment between both countries, The agreement is scheduled to be signed by Mr. Fumio Kishida, Minister for Foreign Affairs of Japan, and Mr. Henry K. Rotich, Cabinet Secretary for National Treasury of.... Read more »

Posted on : Friday , 26th August 2016

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