Market News Page No. 372| Africa Business News

Tanzania Plans $10bn Mega-Port

In a bid to transform Bangamoyo, Tanzania into a regional trade and logistics hub, the Tanzanian government has secured investments totalling $10 billion to build a mega-port, according to Tuscor Lloyds. The project has received around $10.7 billion in finance from China and Oman, which will be used to develop port facilities in order to boost Bagamoyo’s capacity to 20 million TEU. As well as seeing an increase in.... Read more »

Posted on : Monday , 1st February 2016

Exports hold the key to Kenya�s economic take-off

Kenya’s import orientation has revealed key flaws. One clear problem is having a chronic and substantial current account deficit. Secondly the government has to be hawk-eyed about the shilling depreciation to keep import bills manageable. Third, the country is unable to generate forex to pay foreign-denominated debt. Finally, Kenya’s import economy exacerbates the country’s unemployment.... Read more »

Posted on : Monday , 1st February 2016

US firm to plan for power supply in Mutli-million dollar Tatu City in Kenya

A multi-million satellite complex Tatu City in Kenya , has announced that it had appointed US-based firm Power Engineers Inc to plan on power infrastructure for use within the industrial complex. Power Engineers is one of the largest consulting engineering firms in the United States Tatu City in Kenya management said that The Power Engineers Inc is well suited for the job having worked with clients such as the World Bank,.... Read more »

Posted on : Saturday , 30th January 2016

Construction firm Murray and Roberts wins big with new International contracts

Construction firm Murray and Roberts has announced that its subsidiaries, Clough and CH-IV International have secured contracts for projects in the oil and gas sectors in South Korea and the US. Construction firm Murray & Roberts, a group of world-class companies and brands is a JSE listed group with headquarters in Johannesburg, South Africa. According to the group, Samsung Heavy Industries had awarded Clough a.... Read more »

Posted on : Saturday , 30th January 2016

East Africa and China deepen ties, sign trade agreement

Djibouti’s president has signed an agreement with China to set up a trade zone and establish legal framework to let Chinese banks operate in the country, according to a Reuters report Djibouti President Ismail Omar Guelleh stated the aim is to have the first phase completed and operational before end of 2016 The trade zone is expected to cover an area of 48 sq km. The first phase covers an area of 1.5 sq km and is aimed to be.... Read more »

Posted on : Friday , 29th January 2016

East Africa and China deepen ties, sign trade agreement

Djibouti’s president has signed an agreement with China to set up a trade zone and establish legal framework to let Chinese banks operate in the country, according to a Reuters report Djibouti President Ismail Omar Guelleh stated the aim is to have the first phase completed and operational before end of 2016 The trade zone is expected to cover an area of 48 sq km. The first phase covers an area of 1.5 sq km and is aimed to be.... Read more »

Posted on : Friday , 29th January 2016

International Power firm to construct 10 MW PV solar plant in Africa

An international power firm has announced plans to construct a 10 MW solar plant in Gambia a move that will boost electricity supply in the country. Emerging Power Ghana Limited has already signed a 25-year power purchase deal with Gambia’s National Water & Electricity Company (NAWEC). Yasser Gamil, Emerging Power (Gambia) Ltd.,MD signed the agreement on behalf of the company while the National Water & Electricity.... Read more »

Posted on : Friday , 29th January 2016

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