Market News Page No. 126| Africa Business News

East Africa retains lead as top investment destination in 2019

Where to Invest in Africa 2019? RMB has the answer. Kenya, Rwanda, Ethiopia and Tanzania will be among Africa’s most attractive investment destinations in 2019. According to a report prepared after an extensive study by South Africa based Rand Merchant Bank (RMB). The RMB Investment Attractiveness index scrutinises a countries’ economic and operating environments to evaluate their potential to attract investment. Their report is a.... Read more »

Posted on : Thursday , 7th February 2019

Kenya's tallest high-rise apartment units to be completed by 2021

Kenya has disclosed it's plans to construct 2,720 high-rise apartment units in Nairobi’s Ngara estate in a development project that will gift the Kenyan capital its tallest homes beating 22-storey Le’mac Towers, Nairobi’s residential tower. The project is in alignment with the government’s affordable housing agenda. Chinese billionaire Zeyun Yang said, “This iconic project is bound to change the Nairobi skyline.... Read more »

Posted on : Monday , 4th February 2019

Ethiopia inaugurates the biggest airport aviation hub in Africa

Ethiopian Prime Minister Minister Abiy Ahmed has inaugurated the newly expanded Addis Ababa Bole International Airport terminal, the biggest airport aviation hub in Africa exceeding Johannesburg’s O.R. Tambo International Airport. The China-funded project began construction in 2015 at a cost of US $35m. The terminal has been fitted with modern amenities including automated bag drop solutions, e-gates, self-check-in kiosks, baggage.... Read more »

Posted on : Wednesday , 30th January 2019

Ethiopia inaugurates the biggest airport aviation hub in Africa

Ethiopian Prime Minister Minister Abiy Ahmed has inaugurated the newly expanded Addis Ababa Bole International Airport terminal, the biggest airport aviation hub in Africa exceeding Johannesburg’s O.R. Tambo International Airport. The China-funded project began construction in 2015 at a cost of US $35m. The terminal has been fitted with modern amenities including automated bag drop solutions, e-gates, self-check-in kiosks, baggage.... Read more »

Posted on : Wednesday , 30th January 2019

TANESCO Power Project Extends Power Supply Across Africa

In order to exchange electricity effectively the state-owned power utility firm is currently undertaking the Kenya-Tanzania Power Interconnection Project (KTPIP). The project includes building of a 400kV transmission line from Singida to Isinya in Kenya through Babati, Arusha and Namanga. Kenya’s extension of transmission line to Ethiopia and while Tanzania extends the same to Zambia, thus will connect East Africa to the Southern.... Read more »

Posted on : Wednesday , 30th January 2019

New firm gets concession to extract methane gas from Lake Kivu

Rwanda’s energy targets are set to get a boost following the government’s decision to provide a concession to a private investor to start production of methane gas from Lake Kivu. On Monday, a cabinet meeting chaired by President Paul Kagame approved the decision that allows Rwanda Development Board (RDB) to enter concession and implementation agreement with Gasmeth Energy to extract methane gas. It was not immediately clear.... Read more »

Posted on : Tuesday , 29th January 2019

The Green Homes Project - Benefit for Kenyans

According to the United Nations Office for Project Services (UNOPS) Executive Director, Grete Faremo, Thousands of people in Kenya will benefit from the sustainable and affordable green homes. UNOPS is dedicated to implementing projects for the United Nations System, international financial institutions, governments and other partners around the world; it is an operational arm of the United Nations. The orgainsation are looking to.... Read more »

Posted on : Tuesday , 29th January 2019

Kenya's upcoming gold refinery to benefit small miners

Kenya has proposed to set up a gold refinery in the west of the country to help small scale miners and the government is seeking consultants to advise on its construction, the Petroleum and Mining Ministry said on Friday. Kenyan mines have proven deposits of titanium, gold and coal but its mining sector is a relatively small contributor to national output. Nonetheless, revenues are expected to grow as new mines start production. The ministry.... Read more »

Posted on : Tuesday , 29th January 2019

Hardwood gains popularity as the choice of wood

According to a business executive, Arjun Bhachu, who works with Wood Products, one of the oldest companies dealing in wood in Kenya says it evokes elegance and texture in any room. “Just like art, wood helps restore the natural state in a room”. The overlooked timber is making a comeback in kitchens, floors, walls and staircases. In Kenya, homeowners moved from wood floors to tiles, then they switched to 3D epoxy flooring.... Read more »

Posted on : Friday , 25th January 2019

Money on trees in Africa - Ethiopia looks to capitalize

In this country money really could grow on trees. Ethiopa contains two-thirds of the bamboo in Africa, and it is hoped that the "green gold" can potentially power growth. According to Adane Berhe, CEO Adal Industrial PLC, which is helping to build the new industry. "The farmer who has bamboo is rich, but he doesn't know it," China has become the choice destination for Berhe, the global hub of the bamboo trade, to.... Read more »

Posted on : Friday , 25th January 2019

Uganda-Tanzania to settle 'the joint pipeline project from Hoima to Tanga'

Uganda and Tanzania signed an agreement in May 2017 to together develop the $3.5 billion pipeline that has been represented as the longest electrically heated crude oil pipeline in the world. The National Project Co-ordinator for Tanzania from the Ministry of Energy, Salum Mnuna, hopes the five-day ministerial meeting — beginning on Jan 21 — can settle the way to operate, execute and supervise the project given the various laws.... Read more »

Posted on : Monday , 21st January 2019

Ethiopia Airlines to launch US $65m five-star hotel

Ethiopian Airline is set to launch US $65m Ethiopian Skylight Five Hotel this month. This is according to the Airline’s Head of Infrastructure Planning and Development, Abraham Tesfaye. The Head of Infrastructure Planning said that the million dollar hotel whose construction began in 2016, will be officially opened to the public on the 28th of January. The hotel is located five minutes from the Bole International Airport in Addis.... Read more »

Posted on : Friday , 18th January 2019