Market News Page No. 146| Africa Business News

African oil imports sustained by China

Uncertainty over US waivers for investors of oil from Iran is commencing to grip the market again, under very different circumstances than when American sanctions were set to go into effect in 2018. Before existing exemptions were granted, traders in Saudi Arabia were forecasting $100 oil, and Donald Trump was looking forward to a decrease in fuel rates ahead of US midterm elections. The waivers blindsided the market, which had assumed.... Read more »

Posted on : Tuesday , 26th March 2019

France's Voltalia Invests Big in Kenya

French President Emmanuel Macron, who traveled to Kenya with a business delegation, saw the signing of more than EUR 2 billion ($ 2.26 billion) in infrastructure contracts. Renewables company Voltalia signed a contract of EUR 70 million for two solar power plants, while an Airbus - led consortium has won a contract of EUR 200 million for coastal and maritime monitoring. The deals also included a EUR 1.6 billion 30-year concession for a.... Read more »

Posted on : Friday , 5th April 2019

CONSTRUCTION AND DEVELOPMENT OF HOUSING SECTOR, GROWING IN RWANDA

The construction sector in Rwanda is experiencing a huge boost due to the population growth rate of 2.7% annually. The growing demand in the construction and real estate sectors is being experienced by Rwanda on a massive scale. Every year 28 thousand and 35 thousand housing and commercial units are in demand within Kigali; struggling to meet this need are the developers. "Taking a significant chunk of the GDP the construction sector has.... Read more »

Posted on : Wednesday , 10th April 2019

MINING IN RWANDA PROGRESSES WITH US INTERVENTION

The mining sector has emerged to be the highest foreign export earner of merchandise exports in Rwanda, since it commenced in the early 1930s. According to the statistic report of 2018 the export of Cassiterite amounted to $149 million, a huge potential of gold mining and export as well as wolfram and Colombo tanlite (Colton) has emerged recently. Rwanda has largely been underlained by the Kibaran Orogeny rock system. Consisting of basement.... Read more »

Posted on : Monday , 25th March 2019

Tullow initiates a probe for Kenya Oil Investors

Tullow, a British oil exploration company has commenced an exploration in Kenya for small scaled crude petroleum exports. The first shipment is expected in the next three months. Unnamed potential investors of the Turkana commodity has shown interest in the stocks.The initial market reactions have proven to be positive. About 600 barrels are being transported per day by road to Mombasa, with volumes expected to increses to.... Read more »

Posted on : Monday , 25th March 2019

East Africa's Power Output poised to reach 7,480MW by 2022

By 2022, the East African Community (EAC) will have a combined generation of 7,480 MW of electricity. This is set to be accomplished through a $ 2.5 billion funding from the African Development Bank (AfDB) for infrastructure projects in the region. According to multiple sources, the combined total installed power capacity in East Africa currently exceeds 5,000 megawatts. Statistics from the EAC partner states with the.... Read more »

Posted on : Wednesday , 3rd April 2019

RAPID GROWTH IN KENYAN INFRASTRUCTURE AND ECONOMY

Developers who are keen on Roads, housing and civil work projects 2018 was projected to be an exciting year, moving Kenya closer to vision 2030, the government identifies affordable housing among the key golden pillars for the next five years and food security manufacturing and universal health care are some others. Did you know that civil works as well as roads are paramount for each of the four pillars? The delivery of about 500,000 housing.... Read more »

Posted on : Saturday , 23rd March 2019

A DYNAMIC FUTURE FOR KENYA AUTOMOBILE INDUSTRY WITH NISSAN

As Nissan targets major towns across the country to boost its market in Kenya, Nissan is expanding its dealership footprint locally in sharing market space dominated by players like Toyota Kenya and Isuzu East Africa. Nissan Chairman Mr. Jim Dando, the company is exposed to more customers and when there is a bigger presence in the market it will help grow the market share as well. With full sales, spares and service dealership in Nairobi,.... Read more »

Posted on : Friday , 22nd March 2019

President Kenyatta To Boost Efforts To Place Kenya Among Top Automakers In Africa

Kenya is all set to become a topmost vehicle manufacturing giant, if the high potential undertaken by President Uhuru Kenyatta’s administration to energies the automotive industry results into action. Global car maker Nissan has announced investment plans of Sh2 billion in a local assembly line, a move that will make Kenya only the 21st country where the company manufactures its vehicles. Along with global vehicle makers who have.... Read more »

Posted on : Friday , 22nd March 2019

U.S AMBITIOUS TO STRENGTHEN THE FOOTHOLD FOR TRADE AND INVESTMENT IN AFRICA

The FDI promotion and Technology Transfer Affairs Directorate General of the MoFA took part in the U.S.-Africa Trade and Investment Forum organised by the Corporate Council on Africa (CCA) and the U.S. Mission to the African Union in Addis Ababa On February 12, 2019. In order to examine ways to advance private sector-led economic growth in Africa, the event brought together the African and U.S. private sector, African heads of state,.... Read more »

Posted on : Friday , 22nd March 2019

The Ministry of Foreign Affairs of the FDRE is committed to promote sustainable investments in Addis Ababa

The Ministry of Foreign Affairs of the FDRE is committed to promote sustainable investments that contribute to inclusive economic growth, with job creation, knowledge transfer and capacity building. It works in coordination with F.D.R.E. missions and foreign representations in Addis Ababa. This biweekly bulletin is prepared in view of informing the public and the diplomatic community on investment, trade, technology transfer and tourism.... Read more »

Posted on : Friday , 22nd March 2019

A memorandum of understanding is signed for Manufacturing of Medical Equipments Locally in Ethiopia

The MoU was signed between the ministries of Innovation & Technology, Health, and Trade & Industry and also Investment Commission. It is a memorandum of understanding (MoU) that will enable government institutions to work in collaboration to understand the need of manufacturing of medical equipments locally. It is said to help to mobilize efforts in encouraging innovation among the youth and promote entrepreneurs and.... Read more »

Posted on : Thursday , 21st March 2019