Market News Page No. 147| Africa Business News

Huge Potential in the Oil and Gas Sector

Since 2014, Oil prices have recorded the strongest start to a calendar year, with crude oil opening at over $60 a barrel. Oil prices collapsed from almost $120 a barrel in June 2014 due to weak demand, a strong dollar and a booming shale production in the USA. The biggest oil producers, Russia and Saudi Arabia, have continued to strengthen their collaboration in the oil and gas industry. This is one relationship that we should.... Read more »

Posted on : Tuesday , 16th January 2018

25 Companies Lend Support to Kenya�s Industrialization Objective

Tanzanian Prime Minister Kassim Majaliwa has revealed that at least 25 companies have agreed to get onboard the government’s plans to ramp up the nation’s industrial operations. "So far, 25 companies have confirmed their willingness to invest in our country in support of the vision of turning Tanzania into an industrialized nation," Mr Majaliwa said as he presented a report on how the government was implementing the.... Read more »

Posted on : Friday , 12th January 2018

3000 Projects Registered as Tanzania's Industrialization Agenda Gains Pace

Tanzania’s agenda of industrialization is fast-gaining momentum. Statistics are indicating the registrations of approximately 3,000 small, medium and large scale industries with a number of government industries worth over 5trl in the past year. This comes at a time when the international community is expecting a 6.5 to 7 percent growth in Tanzania’s economy. This statistic could see Tanzania break into the top.... Read more »

Posted on : Friday , 12th January 2018

Kenyan Industries to Increase Manufacturing to Boost Exports

Kenyan Industries are in the process of increasing their manufacturing output in a bid to boost exports. This vision is supported and shared by the Kenyan government, according to a statement from the administration. The cabinet secretary of the Ministry of Trade and Industry, Adan Mohamed gave his view on the subject stating that Kenya’s exports have been low due to a narrow manufacturing base. "We are therefore.... Read more »

Posted on : Wednesday , 18th April 2018

Kenya: New Sh200 Billion Industrial Hub to be a Game-Changer for Investors

A new industrial park in Uasin Gishu is all set to be game-changer in the economic fortunes of the region. The African Zones Pearl River Industrial Park (AEZ) will be a part of the country’s development plans and is worth a whopping Sh200 billion. Dr David Langat,the chairman of the park weighed in saying that the region will now earn more from the agriculture value chain. He also added saying that landowners and farmers in Uasin Gishu,.... Read more »

Posted on : Wednesday , 18th April 2018

Dangote Cement Open New $300 Million Cement Plant in Congo

Africa’s largest cement company, Dangote Cement Plc has stepped up their efforts for the economic emancipation of Africa by opening a cement plant in Mfila Congo Brazzaville. The plant will be equipped with a production capacity of 1.5 million tonnes per annum. This new plant is valued at $300 million and will employ as many as 1000 employees directly and many more thousands indirectly. President Sassou Nguesso inaugurated.... Read more »

Posted on : Friday , 12th January 2018

Siemens to Invest R5.5 million towards Automation in Africa

Siemens will be investing R5.5 million towards industrial automation and equipment for higher education institutes in Nigeria, Tanzania, Ghana, South Africa and Kenya. Sabine Dall’Omo, CEO of Siemens Southern and Eastern Africa said in an official statement. The company’s newest investments will go towards aiding the development of locally engineered solutions. “In an African context, disruptive technology can be.... Read more »

Posted on : Wednesday , 18th April 2018

Hydroclones Fast-Improving Recovery Rate at Tharisa Minerals

Tharisa Minerals’ operations in the South-western region of South Africa for excavating platinum have received a boost as it has overseen an improvement in its mill circuit production performance by an impressive 36 percent. Tharisa Minerals managed to achieve this by replacing its cyclones with Cavex hydroclones from industrial equipment supplier, Weir Minerals Africa. The Cavex hydrocyclones have enabled the mine to recover 98 oz.... Read more »

Posted on : Friday , 12th January 2018

Total Cooking Gas Customers to Verify Fuel Validity via SMS

A new service has been introduced by Total Kenya for its cooking gas customers to use their phones to verify validity of the fuel they are buying to avert accidents linked to illegal refilling by unscrupulous dealers. To verify, customers will have to scratch the label attached to the gas cylinders and text a unique code to 38353. This will be free service The campaign will help to remove counterfeit products out of the.... Read more »

Posted on : Tuesday , 9th January 2018

Kenya: Kenyatta University to get 100KWP Solar Plant

A Centre of Excellence valued at Sh59 million has been launched at the Kenyatta University of Nairobi which hosted the third United Nations Environment Assembly (UNEA). The initiative supported by the French government saw the construction of a 100kWp solar pilot plant unveiled at the university, through the technical help of a French industrial group specializing in designing, financing, and building and operating photovoltaic.... Read more »

Posted on : Tuesday , 9th January 2018

Kenya- Kenya Pipeline Company Storage Tanks Almost Complete.

Kenya Pipeline Co. (KPC) is set to complete the construction of US$53 million worth of new fuel storage tanks in Nairobi soon to receive high volumes of products from the port of Mombasa. KPC said Indian firm Prashanth Project Ltd (PPL) was currently working on four tanks with a capacity to store 133 million litres and Zakhem International Construction is at the tail-end of finishing a new pipeline from Mombasa to.... Read more »

Posted on : Saturday , 6th January 2018

Hyatt and Hilton to Increase Scale of Operation in Africa as Industry Booms

Two of the world’s elite multinational hospitality companies, the Hilton Worldwide Holdings and Hyatt Hotels & Resorts have announced their plans to expand their operations across the African continent. Hilton has devised a plan that will see them invest $50m in a five-year period and add 100 hotels to its portfolio. While, Hyatt has a plan to invest in another 6 hotels in Africa by 2020. This hospitality industry has contributed.... Read more »

Posted on : Saturday , 6th January 2018