Market News Page No. 453| Africa Business News | Afrotrade

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Kenya Sets Pace As East Africa Vehicle Market Grows

NAIROBI – Rising demand for commercial vehicles and luxury cars pushed new and used motor-vehicle registrations in Kenya to nearly 100,000 units last year, according to the Kenya National Bureau of Statistics. Reporting in the agency’s 2015 economic survey, director general Zachary Mwangi notes the 102,606 newly registered motor vehicles in the country in 2014 was up about 9.0% from 94,017 units in 2013. Both totals include.... Read more »

Posted on : Monday , 17th August 2015

Midas changes name to Aftermarket Solutions

The Midas Group has changed its name to Africa Automotive Aftermarket Solutions (AAAS). It will commonly be referred to as Aftermarket Solutions. The Imperial Holdings Limited-owned entity unveiled its new name and brand identity at the inauguration today of its combined head office and distribution centre in Linbro Park, Johannesburg. The name change comes as a result of the company's growth over the last sixty years, with greater.... Read more »

Posted on : Monday , 17th August 2015

FORD WILL ASSEMBLE BEST-SELLING RANGER TRUCKS IN NIGERIA

• New Ford assembly facility in Ikeja will begin operation in the fourth quarter of 2015 • Ford Motor Company partners with Coscharis Motors Limited in Nigeria • Nigeria to be first African country outside South Africa where Ford vehicles are produced Ford Motor Company has announced it will assemble its popular Ford Ranger pickup truck in Nigeria starting in the fourth quarter of 2015 as part of its expansion in Middle.... Read more »

Posted on : Monday , 17th August 2015

Africa Oil 2015 Second Quarter Financial and Operating Results

Africa Oil Corp. is pleased to announce its financial and operating results for the three and six months ended June 30, 2015.During the second quarter of 2015, the Company focused its efforts on appraisal in the South Lokichar Basin, Extended Well Tests (EWTs) in the Amosing and Ngamia fields, and reservoir and engineering studies. This focus for 2015 has the following objectives; confirming reservoir quality and deliverability, resource size.... Read more »

Posted on : Saturday , 15th August 2015

The oil giants are coming to Tanzania

International oil giants are bearing down on East Africa. Off the coast of Tanzania, the discovery of 46.5 trillion cubic feet of natural gas reserves has put the country on the world energy map. The number is expected to rise to 200 trillion cubic feet in the next two years, and eventually transform Tanzania into a middle-income country. Companies like Exxon Mobil, BG Group and Norway´s Statoil are working with the Tanzanian Petroleum.... Read more »

Posted on : Friday , 14th August 2015

Construction of Adada River dam in Nigeria to be completed in 2016

The construction of Adada river dam in Nigeria in Enugu State is expected to be completed and commence operational in July 2016. This was revealed by the Enugu State Governor Ifeanyi Ugwuanyi during his inspection at the dam’s construction site. He added that, his administration is ready and willing to provide the necessary support to ensure the project is delivered as scheduled. The project is being supported by the government through the.... Read more »

Posted on : Friday , 14th August 2015

China to Build First Steel Plant in Liberia

At the peak of bilateral talks with President Ellen Johnson-Sirleaf, China's Foreign Minister Mr. Wang Yi says his country is prepared to add value to Liberia's raw material, as he announces plans to establish a steel plant here. His announcement comes after President Ellen Johnson Sirleaf made such proposal to a visiting 15 man Chinese business delegation last week. "The highlight of this is that China has committed to helping us.... Read more »

Posted on : Friday , 14th August 2015

Kenya to Get Investment Worth $55.6bn for Infrastructure Development

An estimated $55.6 billion in investment into infrastructure development for Kenya is planned (as of 2015), the majority of which will focus on telecommunications and power generation infrastructure, a new study reveals. Dubbed as African Infrastructure Tracker: Kenya, the research and analysis was done by Frost & Sullivan. The study also reveals that Kenya is set to become a hub for intra-regional trade in Africa. The.... Read more »

Posted on : Friday , 14th August 2015

Zimbabwe: Mining Attracts Investors

The mining industry in Zimbabwe is currently the biggest target for international investors. Mines and Mining Development Deputy Minister Fred Moyo said the mining sector is the biggest drawcard to the country for foreign investors. "Mining is currently Zimbabwe's biggest target for international investors. Mineral exports account for over 50 percent of the country's foreign exports earnings," said Deputy Minister.... Read more »

Posted on : Friday , 14th August 2015

Indian Company to Start Marble Mining in Benshangul-Gumuz

An Indian company yesterday concluded agreement that enables it to mine marble in Benshangual-Gumuz State. Samaka Stones Private Limited Company has reportedly allocated close to 2.9 million USD to commence the production of 131,600 cubic meters of marble annually. During the signing ceremony, State Minister of Mines Dr. Alemu Sime said marble production would contribute to the booming construction industry, the earning of.... Read more »

Posted on : Friday , 14th August 2015

Rwanda: Burera District Constructs New Hotel to Boost Tourism

Burera District is constructing a new hotel in a bid to enhance tourism in the area. The Burera Beach Resort Hotel is situated in Kagogo Sector on the shores of Burera and Ruhondo lakes. The hotel is being constructed a Japanese firm, Noguchi Holdings LTD. The construction is projected to be completed by December at the tune of Rwf350 million, according to officials. Samuel Sembagare, the district mayor, said despite having a.... Read more »

Posted on : Friday , 14th August 2015

Exclusive railway bridge to be constructed over Nairobi National Park

Exclusive Railway bridges are to be constructed over Nairobi National Park. Kenya Wildlife Service (KWS) spokesman Paul Muya said that they intend to build the bridge that will have an entire length of up to nine kilometers. The construction of the exclusive railway bridge over Nairobi national park is a move that conservationists have welcomed as a positive step for Kenya. The railway line was intended to cut through the 117km2, from.... Read more »

Posted on : Thursday , 13th August 2015

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