Market News Page No. 294| Africa Business News | Afrotrade

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Nairobi-Naivasha SGR construction to cost Sh2 billion more

The construction of the Nairobi-Naivasha Standard Gauge Railway will cost taxpayers Sh2.02 billion more. The 120km route had been estimated to cost approximately Sh150 billion. Kenya Railways MD Atanas Maina said the cost went up after the original route was modified as demanded by conservationists. "The modification of the route along the savannah of the Nairobi National Park will be more costly since it.... Read more »

Posted on : Thursday , 15th September 2016

Australian business lifts profit at South Africa's top construction firm

Wilson Bayly Holmes-Ovcon (WBHO), South Africa's biggest construction firm by market capitalisation, reported a 23.8 percent rise in full-year profit on Tuesday as a strong performance in Australia offset slow growth at home. WBHO said in a statement that headline earnings per share (HEPS), South Africa's main profit gauge that excludes certain one-off and non-trading items, increased to 1,343 cents in the year to the end of June.... Read more »

Posted on : Thursday , 15th September 2016

Irish energy company opens fourth South African wind farm

Continuing its global growth, Mainstream Renewable Power has opened its fourth wind farm in South Africa: an 80MW facility in the Umsobumvo region of the country. Investing €120m to satisfy the needs of an estimated 70,000 households, Mainstream’s latest international project in South Africa sees the Irish company’s global footprint grow ever stronger. Following what the company claims is a decline in.... Read more »

Posted on : Thursday , 15th September 2016

Welding industry seeks new alternatives

With fewer projects being available in the power generation and petrochemicals sectors, South African Institute of Welding (SAIW) executive director Sean Blake says, for those seeking welding industry opportunities, alternative sectors have to be considered. He notes that, between 2007 and 2015, the Medupi and Kusile power stations supported the fabrication industry to a large extent, as did projects in the petrochemicals industry, which.... Read more »

Posted on : Thursday , 15th September 2016

Despite problems SA still represents half sub-Sahara mining

A new report by BMI Research, a Fitch company, shows despite South Africa’s many setbacks and challenges the country will continue to dominate mining in sub-Sahara Africa. BMI says outlook for mineral production, trade and consumption will vary significantly across the region with Côte d'Ivoire and the Democratic Republic of Congo (DRC) recording the strongest economic growth rates due to a combination of strong.... Read more »

Posted on : Thursday , 15th September 2016

Sigh of relief for SA economy as auto sector signs wage deal with no disruption to vehicle production

The Automotive Manufacturing Employers’ Organisation has announced a new three-year wage agreement with a key labour union. The wage increases and benefit structure agreement is for the 2016 – 2019 period. The negotiations were concluded in Port Elizabeth on Friday between the automotive manufacturing sector and the National Union of Metalworkers of SA (Numsa). The agreement holds the promise of a.... Read more »

Posted on : Thursday , 15th September 2016

LNG Markets Conducive to �Gas to Power� in Africa

Fundamental changes in the international market for liquefied natural gas (LNG) over the past few years have for the first time made gas to power projects practical in those parts of Africa that do not have a domestic supply of natural gas or access to a natural gas pipeline grid to import natural gas from countries that do. These changes to the LNG market, when coupled with the development of floating LNG storage and regasification units.... Read more »

Posted on : Thursday , 15th September 2016

South Africa: Cancellation of R1.5 Million Luxury Mayoral Car a Victory for Accountability

The DA in Mpumalanga welcomes the decision by eMalahleni Municipality to reverse the purchase of a R1.5 million luxury vehicle for its new Mayor, Cllr Lindiwe Ntshalintshali. This decision comes after the DA publicised this wasteful expenditure and called on Cllr Lindiwe Ntshalintshali, to reject the car. The money for this luxury vehicle was to be sourced from service delivery budgets. This is not only a victory for the.... Read more »

Posted on : Thursday , 15th September 2016

New blood test developed to tackle major livestock disease in Africa

The University of Dundee and the Global Alliance for Livestock Veterinary Medicines (GALVmed) have partnered to develop a simple and effective device that tests for a cattle disease that is endemic in 40 African countries and accounts for up to a 50 percent loss in milk and meat production in the continent. The device, less than 3 inches long and similar in format to a pregnancy test, can identify within 30 minutes whether or not.... Read more »

Posted on : Thursday , 15th September 2016

China�s Mindray advancing medical technologies to Africa

It is now apparent that African governments and health systems must do more to prepare for extreme health crises. The enormous amount of developmental aid pouring into Africa in recent years combined with dramatic health care gaps is focusing more attention on quality and sustainable improvements to health systems. To assist in addressing this, Mindray Medical International Limited has intensified advanced medical technologies in.... Read more »

Posted on : Thursday , 15th September 2016

$30 Billion to Benefit Farmers, Strengthening Africa's Agriculture

Weiteithye Farmers Group in Mwala, Eastern Kenya, comprises about 100 small-scale farmers struggling with crop production, value addition and marketing of their produce. Like other smallholder farmers in Africa, the Weiteithye group lacks access to inputs, financial services and skills in agri-business, efficient machinery for processing produce, market information, new technology, among others. David Mutiso, the group’s.... Read more »

Posted on : Thursday , 15th September 2016

Kenya launches digital platform to boost social protection

The Kenyan government and multilateral partners on Wednesday launched an electronic platform to enhance delivery of cash, food and medical care to the vulnerable population. During the ceremony, Deputy President William Ruto said Kenya became the second African country after South Africa to launch an electronic portal to revolutionize social protection for disadvantaged groups like the elderly, disabled and orphaned.... Read more »

Posted on : Thursday , 15th September 2016

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