Market News Page No. 371| Africa Business News

Major road in Kenya to be expanded into dual carriage

A Japanese firm has been awarded a US$ 13m contract for the expansion of a major road in Kenya into dual carriage, the Kenya Urban Roads Authority (KURA) has announced. The Japanese company, World Kaihatsu Kogyo (WKK) is set to commence operations in April this year and will in entails the installation of traffic signals, street lights and walkways to be used by pedestrians. The mega project which is financed.... Read more »

Posted on : Friday , 29th January 2016

Himoinsa to launch new products and expand presence in 2016

Spanish genset manufacturer Himoinsa’s turnover in 2015 grew by 15 per cent, with strong sales figures coming in from the Middle East, Africa, Asia Pacific and Europe While Europe emerged a key market contributing 37 per cent of the total turnover, America followed with a 26 per cent share and Asia Pacific with a 17 per cent share. The Middle East and Africa each contributed 10 per cent to Himoinsa’s annual figures.... Read more »

Posted on : Thursday , 28th January 2016

Kenya�s Nairobi County sets aside US$ 60.5m for roads construction

Kenya’s Nairobi County has set aside US$ 60.5m that will be used for the construction, rehabilitation and maintenance of roads in Nairobi and this will lead to the ease of traffic that is majorly experienced in the city. Nairobi Governor Evans Kidero confirmed the reports and said that this initiative will eventually lead to effective service delivery to the citizens in the region. He confirmed the news while breaking ground.... Read more »

Posted on : Thursday , 28th January 2016

China to invest $15bn on infrastructure projects in African Nation

China will invest $15Billion for over 15 infrastructure projects in Egypt following a recent visit by president Xi Jinping to the North African country. According to official reports presidents Jinping and Sisi signed a number of joint projects aimed at boosting infrastructure in the country. More investment will be channeled towards electricity, transport and infrastructure sectors. According to Sisi the projects.... Read more »

Posted on : Thursday , 28th January 2016

Promising 'New Deal on Energy' for Africa

African Development Bank will manage Africa's New Deal on Energy along with investing US$12bn in energy funding over the next five years The deal's aims all revolve around providing more power for the households for Africa Africa has been well-recognised as a huge resource potential for the energy sector and yet the economic conditions do not yet allow the complete utilisation of this potential. It is these circumstances that have.... Read more »

Posted on : Wednesday , 27th January 2016

Investment holding firm to construct mega cement plant in Africa

Investment holding firm Zambia Consolidated Copper Mines (ZCCM-IH) is set to construct a cement plant in Zambia,Chief Executivve Officer of ZCCM-IH, Pius Kasolo has said. The plant will be set up at Ndola Lime on the Copperbelt with an initial investment worth $600 million. Mr Pius Kasolo said the plant would be completed in three years time and is expected to create more than 1,000 permanent jobs. During an interview in.... Read more »

Posted on : Wednesday , 27th January 2016

Largest mall in East Africa to get own electricity

The Largest mall in East Africa that is under construction in Kenya-Two Rivers mall will get its own electricity thanks to investment firm Centum that has pledged to construct solar and diesel power plants that will generate 12MW of electricity to provide power to the mall. Centum secured a license from the Energy Regulatory Commission (ERC) to generate and supply electricity at the mixed-use commercial development that.... Read more »

Posted on : Wednesday , 27th January 2016

African Nation to connect 1.2 million homes with natural gas

Egypt plans to connect 1.2 million homes with natural gas as in the Financial year 2016/2017, state owned corporation Natural Gas Holding Company has said. According to the state owned corporation Egyptian Natural Gas Holding Company (EGAS) they have already done preliminary studies that will enable them deliver the gas connection to the homes. This is expected to be one of the biggest projects that will be carried.... Read more »

Posted on : Tuesday , 26th January 2016

Construction of Konza techno city in Kenya boosts Nairobi image

The commencement of the construction on Konza Techno City in Kenya is laying a solid foundation for the future of Nairobi city and boosting its image as well. According to a report; The 2016 Jones Lang LaSalle (JLL) City Momentum Index (CMI) Nairobi is currently ranked position one in Sub-Saharan Africa and 11 globally among cities spurring technology and real estate development having an aim of being Africa’s leading.... Read more »

Posted on : Tuesday , 26th January 2016

Renaissance Dam construction project in East Africa in good course

The construction of the Ethiopia Renaissance Dam is in good course despite stiff opposition from Egypt. Reports from Ethiopia Electric and Power Corporation seem to indicate that the dam will soon start generating 750MW of electricity. However, Egypt is concerned that the dam will be utilised for irrigation in Ethiopia, resulting in reduced downstream supply. However, Ethiopia maintains that there are no hidden agendas.... Read more »

Posted on : Tuesday , 26th January 2016

Yet another huge gas power plant to be constructed in Africa

Namibia will construct its largest gas power plant since independence in 15 months’ time, Xaris Holdings, a company managing the project has announced. The plant is estimated to cost 450 million US dollars. Other companies involved in this mega project includes; General Electric, Excelerate Energy, Standard Bank, Garanti Koza, KS Energy and Ariya Capital Group. The major power plant to be constructed in.... Read more »

Posted on : Monday , 25th January 2016

Azura Power construction Project in Africa gets US$900m boost

Electricity shortages in Nigeria could be a thing of the past following plans to construct an independent power scheme regarded one of its kind. Equity funders in collaboration with 20 international banks have committed US$900m towards the Azura Power construction Project in Nigeria.The 450MW gas-fired open-cycle power plant will be hosted in Edo State. The boost comes after the power plant scheme attain financial close and.... Read more »

Posted on : Monday , 25th January 2016