Market News Page No. 126| Africa Business News

Kenya Bags Two Design Options for Lamu Crude Pipeline Project

Kenya has been presented with two designs for the Lokichar-Lamu crude oil pipeline (LLCOP) with a price fluctuation of $122.2 million.British firm Wood Group Plc has concluded with the front end engineering design (FEED) that shows Kenya can chose for a pipeline with onshore storage facilities that would cost $1.2 billion to construct or one with floating storage facilities at a cost of $1.1 billion.In both ways, the designs show construction of.... Read more »

Posted on : Thursday , 28th November 2019

Coming to Rwanda: VW bringing e-Golf cars for ride-hailing system

Volkswagen is introducing a batch of electric-powered varieties of its Golf hatchback car to Rwanda for a local ride-hailing service, launching a bridgehead in the country that it hopes to expand to other nations, as it seeks to upsurge market share globally.Thomas Schaefer a managing director for VW in Africa, told the Reuters news agency, "We've been investing more than $30 billion into new electric vehicles and platforms and the entire world.... Read more »

Posted on : Wednesday , 27th November 2019

Construction of the saddle dam in GERD project has fully completed

The saddle dam of Grand Ethiopian Renaissance Dam (GERD)s construction has fully completed, declared by Engineer Girma Mengistu, the head of civil construction in the project.Mengistu said that they have finished constructing the upstream face of the saddle dam, which marks the completion of entire saddle dam. The construction took 14 million cubic meters of the concrete embankment.This upstream face of the saddle dam, mainly, the face slab.... Read more »

Posted on : Monday , 25th November 2019

Pharmaceutical Project Inspires Potential Investors in Tanzania

In the African Investment Forum, Tanzania has presented a 938bn/- pharmaceutical project before prospective investors. Dr. Philip Mpango, the finance and planning minister led a government delegation to the conference met prospective investors, included OPEC Fund for International Development (OFID) and Korean Kolon Corporation for detailed deliberations on the first day of the forum. According to the project description, the.... Read more »

Posted on : Thursday , 21st November 2019

20,000 Condos are to be constructed in Addis Ababa city

Construction of 20,504 condos has been launched by Addis Ababa city government. These condos are a part of an urban development program that includes the construction of a total of 500,000 condos in the city.Launching the housing projects in Kirkos sub-city, Engineer Takele Uma, Deputy Mayor of the city, stated that this new project is going to address the housing problems of nearly 600,00 home seekers registered by the city government.It was.... Read more »

Posted on : Thursday , 21st November 2019

Newage, the British Energy Company Has Discovered 1.6 Trillion Cubic Feet of Natural Gas Reserve in the Ogaden Basin of Somali Region of Ethiopia

NewAGE has invented 1.6 trillion cubic feet of natural gas in a locality called Elkuran, says the private weekly newspaper in Ethiopia, The Reporter. The company has made the discovery near the site where the Chinse Poly GCL has started test gas production a year ago. NewAge currently operate the Adigala and Ogaden blocks in Ethiopia.Guang Tutlam (MD), the State Minister of Ethiopia’s Ministry of Mines and Petroleum said “We are now working.... Read more »

Posted on : Thursday , 21st November 2019

Government Is Set To Increase The Efficiency Of The Health System In Ethiopia

Ethiopia has launched the 2nd essential health services package which is intended to achieve universal health coverage across the country. These health service packages provide access to quality health services for all Ethiopians with full financial risk protection regardless of age, economic status, and geographic locations. The Minister of Health Dr, Amir Aman stated that all citizens of the country no matter who they are, where they.... Read more »

Posted on : Wednesday , 20th November 2019

Economic Zones Development In Africa

The 4th annual meeting of Africa free zones opens in Addis Ababa, Ethiopia under the theme “Economic Zones – Accelerator for Industrialization in Africa”. The attendees include over 220 delegates representing 43 countries attended this important event, including 60 African economic zones, 30 experts, as well as several representatives of governmental authorities, international institutions and public and private.... Read more »

Posted on : Tuesday , 19th November 2019

Kenyan Government, Chinese Firm Introduces Construction of Major Power Transmission Project

Kenya's ministry of energy and a Chinese firm, China Aerospace Construction Group, have launched the construction of an extensive power transmission project outside the capital, Nairobi.Once concluded, the 40 km, 400 Kva Konza-Isinya Transmission Line Project will ensure reliable power supply for Konza Technopolis, south of Nairobi.Li Naihong, deputy general manager China Aerospace Construction Group, said the company will convey a quality.... Read more »

Posted on : Tuesday , 19th November 2019

Ethiopian Commodity Exchange Announced Trade Increase In Food Commodities

The Ethiopian Commodity Exchange (ECX) broadcasted the increase in food commodities trade, i.e. a total of 44,394 tonnes commodities worth 2.16 billion birrs in the month of October alone. According to a statement it extended to Borkena, the exchange has transacted a total of 21,034 tons of coffee, 9,434 tons of sesame, 1,346 tons of white pea bean, 6,534 tons of soya bean and 6,046 tons of green moong. In the month of October, the.... Read more »

Posted on : Tuesday , 19th November 2019

New Investment Plans For Agribusiness In Africa

Africa is currently the second most populous continent in the world, its current population is 1.2 billion. This growing population of Africa could reach 2 billion by 2030 and 2.5 billion by 2050 as per the United Nations projections. This shows that one in five consumers globally will be African. Africa’s agribusiness sector is expected to reach $1 trillion by 2030, so there is certainly cause for optimism. Consumer demand for food in.... Read more »

Posted on : Monday , 18th November 2019

Ethiopia - Africa's Fastest Growing Economy

With a population of over 100 million and an annual economic growth rate of 10% over the past 15 years, it presents a unique opportunity. Ethiopia is one of the world's largest untapped markets, and there is an increasing belief that privatisation of state-owned enterprises could be one of the ways to attract potential investments and spur the economy. Ethiopia is historically recognised as one of the most authoritarian and.... Read more »

Posted on : Monday , 18th November 2019