Market News Page No. 507| Africa Business News | Afrotrade

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Kenya: Work begins on US$ 52m Nairobi pipeline terminal expansion

Kenya Pipeline Company’s (KPC)fuel terminal in Nairobi is set to undergo a US$ 52m expansion involving construction of a 450-kilometre pipeline to enable it hold extra petroleum products once the new Mombasa pipeline starts functioning in 2016. It will be completed within 24 months according to Jacinta Sekou, a KPC’s spokesperson. The construction, which also involves developing four storage tanks with a capacity of.... Read more »

Posted on : Tuesday , 3rd February 2015

Algeria to start construction of Bellara Steel Complex this year

Construction of the US$2 billion Bellara steel complex construction will kick off in the first quarter of this year 2015 in Jijel East of Algeria, the prefect of Jijel, Ali Bedrici has said. The steel project will help the country to produce 4 million tons of steel per year in the second phase of construction, but is designed to first assist in producing 2 million tons of steel rebars in its first phase before 2017 in order to.... Read more »

Posted on : Tuesday , 3rd February 2015

Lower oil prices fuel improved trade balance

SA’s TRADE balance switched from a deficit into a surplus in December as export growth outpaced imports, fuelling optimism that cheaper oil is going to help narrow the current account deficit this year. Figures released by the South African Revenue Service (SARS) on Friday show that the country’s trade balance shifted from a revised R5.27bn deficit in November to a R6.8bn surplus in December. This is.... Read more »

Posted on : Monday , 2nd February 2015

Egypt engaged in talks on importing Israeli gas

Egypt is considering importing natural gas from Israel as a delegation from American oil firm Noble Energy has traveled to the North African country for talks over the issue, sources say. “Negotiations are underway about the amount of gas that can be imported,” an Egyptian Oil Ministry source said on Sunday, adding the talks were about the technical procedures for bringing Israeli gas into Egypt. Earlier in.... Read more »

Posted on : Monday , 2nd February 2015

The West's baloney about China-Africa cooperation

challenges that is faces today," said Macharia. "The West has been in Africa for a long time but has never made development of Africa's infrastructure as a priority." "The Western nations only develop infrastructure in Africa that helped to ship Africa's resources to the West," said Dr. Gerishon Ikiara, lecturer of international economics with University of Nairobi, and ex-Permanent Secretary with Kenya's.... Read more »

Posted on : Monday , 2nd February 2015

Low Oil Prices To Spur More M&As In Oil & Gas Sector

The oil and gas sector is set to see increased deal activity across the world as a result of low oil prices, the latest report from consulting firm AT Kearney showed. The report said that mergers and acquisitions in the oil and gas sector showed strong growth in 2014 after a slow year in 2013. Meanwhile the fall in oil prices and the decision of OPEC to not cut output in 2015 are the main factors that will spur M&As.... Read more »

Posted on : Monday , 2nd February 2015

Trade and Industrial Development in Africa

This book revisits the perennial challenge that scholars, economists, and politicians have been grappling with since the 1960s. Development, in this book, has been defined in a context that projects it as a multidimensional and complex process which seeks to enhance the human, social, economic and cultural welfare of the people. This book calls for a rethinking of trade and industry for Africa’s development. It uses data drawn from.... Read more »

Posted on : Monday , 2nd February 2015

�Africa's vast industrial zone

Suame Magazine, is one of the biggest industrial areas in Africa. In Suame Magazine, mechanics in over 12,000 small workshops fix cars and machinery with old spare parts, most of which come from Europe. It is so crowded that the Suame Magazine Industrial Development Organization is planning to buy a four-kilometer stretch of land nearby to turn the area into an official industrial zone. Eric Gyebi, Kwame Acheampong and Osei Kofi.... Read more »

Posted on : Monday , 2nd February 2015

Middle East and Africa Market Industrial trade Worth $10 Billion by 2019

The report, "Middle East and Africa - Industrial Valves Market By Closure type (Quarter turn, Multi turn, and Others), By Function (Control, Isolation, Check and Others), By Type (Ball, Globe, Plug and Others) and By Application (Oil & gas, Chemical, Municipal, Power, and Mining) - Global Trend & Forecast To 2019" The Middle East and Africa Valve Market is estimated to reach $10 Billion by 2019,with a projected CAGR of.... Read more »

Posted on : Monday , 2nd February 2015

Ole Sereni hotel to spend US$ 20m on expansion plans in Kenya

Ole Sereni, Kenya’s five-star hotel brand, has decided to embark on a US$ 20m expansion project starting February, this year. Ole Sereni’s General Manager, Ghulam Samdani said that the new hotel would be located adjacent to the current one. He further pointed out that they have decided to expand because they have been winning business on small conferences and business meetings, but have been losing out on.... Read more »

Posted on : Saturday , 31st January 2015

Kenya to complete construction of the US$186m Southern Bypass by July 2015

Kenya National Highways Authority (Kenha) has announced that construction of the US$ 186m Nairobi Southern Bypass is expected to be complete by July 2015. Kenha Special Projects Manager, Paul Omondi confirmed the reports and further stated that the contractor, China Road and Bridge Corporation is working tirelessly to make sure that the road is complete soon and it also plans to hand over section three of the project by.... Read more »

Posted on : Saturday , 31st January 2015

Kenya agrees on a 2.5 per cent stake in the planned Uganda oil refinery

Kenya has agreed to acquire 2.5 per cent of the upcoming Uganda oil refinery, in a deal estimated to cost the exchequer US$ 61m. Uganda, which has 6.5 billion barrels in reserves, hopes to complete the first phase of construction in 2018. Energy and Petroleum PS Joseph Njoroge confirmed the news on Monday last week, pointing out that they had decided to consider the offer to enhance and support the growth and relationship of East.... Read more »

Posted on : Saturday , 31st January 2015

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