Market News Page No. 349| Africa Business News

Nigeria: Solar Power to Help Double Shiroro Hydro Power Station Capacity

The Shiroro Hydro Power Station (SHPS) will soon double its operating capacity of 300mw through solar plant. Alhaji Dauda Abdulaziz, SHPS Chief Operating Officer, disclosed this on Thursday in Shiroro to a team from Infrastructure Concessions Regulatory Commission (ICRC), Nigeria Electricity Regulatory Commission (NERC) and Bureau for Public Enterprises (BPE). Abdulaziz said that the new solar plant would be digitally.... Read more »

Posted on : Friday , 8th April 2016

Nigeria: State Govt. to Commit N29.6 Billion On Power Supply, Agriculture

Kaduna — Kaduna State Government said it would commit over N29.6 billion on power supply, agriculture and rail transport. Gov. Nasiru El-Rufa'i who stated this on Wednesday in Kaduna at the opening of the Kaduna Economic and Investment Summit, said that part of the projects captured under the state's 2016 budget was the construction of a rail line for Kaduna metropolis which would gulp N10 billion. The governor said the.... Read more »

Posted on : Friday , 8th April 2016

Uganda: Report Says Cocoa Exports Hit Shs244 Billion

There has been a silent but brawling debate over Uganda's cocoa export volumes, and the value in particular. Now, a report by Swisscontact, a non-governmental organisation, indicates that the country earns more than was expected. The 2015 annual report, Improving Markets for Honey and Cocoa Value Chains in Uganda, reveals: "Since July 2015, cocoa is ranked the fourth foreign exchange earner after coffee, fish and tea and about.... Read more »

Posted on : Thursday , 7th April 2016

Kenya: Cabinet Approves New Mining Policy To Attract Fresh Investment in Sector

A new all-inclusive Bill is set to be published to guide mineral wealth exploitation and address governance and environmental issues after the Cabinet on Friday approved a mining policy to attract fresh investment to the sector. Mining Cabinet secretary Dan Kazungu said the new Bill will address key gaps in the Mining Act of 1940, and align the sector to the latest global trends such as value-addition and use of technology to spur.... Read more »

Posted on : Thursday , 7th April 2016

Nigeria: 'Infrastructure Investment Key to Nation's Survival'

Securing and improving on Nigeria's infrastructure stock through prioritized investments, has again been listed as the pathway to the nation's long-term success and economic revival. Besides, a new report by The Boston Consulting Group (BCG), said the nation's stock of wealth and assessed potentials has failed to translate into the well-being of the populace. The report, which analysis was based on Sustainable Economic.... Read more »

Posted on : Thursday , 7th April 2016

Kenya Signs MoUs Worth Sh28 Billion with France For Infrastructure Development

Kenya has signed seven memorandums of understanding that will see the country receive upto 250 million euros (Sh28.8 billion). The agreements were signed after President Uhuru Kenyatta met his French counterpart Francois Hollande for bilateral agreements. The financing are a culmination of both grants and loans negotiated through the national Treasury to finance several infrastructure projects in the country. This is.... Read more »

Posted on : Wednesday , 6th April 2016

Kenyan Start-Up In Deal With Global Firms to Set Up Organic Fertiliser Plant

Kenyan start-up, Wanda Organic has signed a deal with two global firms from the Philippines to set up an organic fertiliser manufacturing plant in Kenya. The two Philippines-based companies, ELR Family Trading Inc. and Richfund International will oversee the manufacture of Plantmate Bio-Organic Fertiliser in Kenya. "It's commendable to see more young Kenyans venture into agriculture and we are committed to supporting such.... Read more »

Posted on : Wednesday , 6th April 2016

Nigeria: Local Community to Get U.S.$150 Million Solar Power Project

Jos — Panyam community in Mangu Local Government Area of Plateau State is to benefit from a $150 million solar plant power project expected to take off before the end of this year. CT Cosmos Nigeria Limited, a subsidiary of Communication Towers Ltd, which indicated interest to establish the solar plant project in Panyam stated that the project when completed is expected to generate over 70 megawatts which will be sufficient to.... Read more »

Posted on : Wednesday , 6th April 2016

UAE Based Truck Bodybuilders Eye East African Market

Truck bodybuilders in the UAE are keen on stepping up their presence in African markets as they look to venture outside the GCC. Dubai-based Gorica Industries, one of the biggest names in the segment, is already active in Africa, says managing director Ivan Fornazaric. “Our main markets are the Middle East and Africa. This is where we sell,” he said. While the GCC is the company’s focus, Gorica.... Read more »

Posted on : Tuesday , 5th April 2016

Chinese Investors to Build Fertilizer, Farm Equipment Plants in Nigeria

Dutse — A group of Chinese investors under the auspices of the Machinery and Equipments Producers Association from Henan Province of China has indicated interest to invest over $200 million on fertilizer and farm implement manufacturing companies in Jigawa State. The chairman of the association, Richard Zhiyong Lu, made this known yesterday in Maigatari, headquarters of Maigatari LGA of Jigawa State while inspecting the Free Trade.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania: Entrepreneurs Urged to Engage in Fish Farming

Dar es Salaam — Small and medium entrepreneurs have been urged to grab opportunities offered by the fish keeping sector in order to boost their incomes. Speaking during a day-long workshop on 'New Opportunities in Agribusiness' yesterday, a senior Fishery officer from the ministry of Agriculture, Livestock and Fisheries, Mr John Mapunda, said there was a shortage of over 400,000 tonnes of fish in the country, a gap that the.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania: Tallest Building in Eastern & Central Africa to be Completed By August

Construction of the tallest building in Eastern and Central Africa, owned by Tanzania Ports Authority (TPA) will be complete in August. According to the Director of KM&Archplans (T) Ltd, the lead company of construction consortium, Mr Albert Mwambafu, construction of the building was currently complete by 90 per cent. He said that upon its completion, the 35-storey building will cost 120bn/-. Among other things,.... Read more »

Posted on : Tuesday , 5th April 2016