Market News Page No. 374| Africa Business News

China pledges to boost infrastructure construction in Africa

China will work closely with Egypt in a bid to boost infrastructure construction in Egypt, president Abdel Fattah el-Sisi and his Chinese counterpart Xi Jinping have announced. The two leaders agreed to work together in a bid to enhance growth in the infrastructure sector of the country President Sisi said he is willing to connect its own development plans with the Belt and Road Initiative and expand infrastructure.... Read more »

Posted on : Saturday , 23rd January 2016

CSIR photovoltaic solar plant in Africa begins operations

The ground-mounted CSIR photovoltaic solar plant in South Africa is now fully operational. The plant is situated at the Council for Scientific and Industrial Research (CSIR), in Pretoria. The construction of the project began in June last year and initial testing completed the same year. The project forms part of the CSIR’s aim to run its Pretoria campus fully on renewable energy and, therefore, move totally off.... Read more »

Posted on : Saturday , 23rd January 2016

German Brand enters African solar market

German photovoltaic (PV) mounting systems manufacturer Renusol has established a presence in South Africa’s promising solar market The company supplies its innovative solutions for mounting photovoltaic modules on roofs to South African wholesaler Lumax Energy, which sells Renusol’s entire product portfolio. Frans-Willem Vermaak, business development manager at wholesaler Lumax Energy, said, “The solar market in South.... Read more »

Posted on : Friday , 22nd January 2016

Construction of Batoka Hydro Power Plant to begin 2017

The construction of Batoka Hydro Power Plant in Zimbabwe is set to commence in 2017. The plant will be built on the Zambezi River along the Zimbabwe-Zambia border. Zimbabwe’s Energy and Power Development Minister, Samuel Undenge, told journalists in Harare last week that the feasibility studies are expected to be completed by June this year. “This is a joint project between Zimbabwe and Zambia and with the.... Read more »

Posted on : Friday , 22nd January 2016

East Africa: EAC Cited As African Trendsetter

The East African Community (EAC) has been cited as one of the growing blocs amongst the Regional Economic Communities (REC) in sub-Saharan Africa. The Brookings Institution in its recent Foresight Africa 2016 report on regional integration in sub-Saharan Africa, said the EAC has implemented several joint infrastructure projects. Among them is the Arusha-Namanga-Athi River Road, a road which runs from Tanzania to Kenya..... Read more »

Posted on : Friday , 22nd January 2016

Kenyan Entrepreneurs Tap Into Chinese Market

Edith Mbui's modest upbringing in a rural Kenyan village taught her the values of hard work, fortitude and commitment to causes that would have lasting impact on the wider society. The retired mother of one pursued formal education with zeal and was among few young women who broke the glass ceiling to secure lucrative careers in the Kenyan public service. While growing up in post independent Kenya, Mbui witnessed.... Read more »

Posted on : Thursday , 21st January 2016

Africa and China to build US$3.3bn port

Africa and China have signed a US$3.3bn deal to build a new transshipment port around 60km west of Algiers portconstruction washingtonstatedeptoftransportation flickrAlgeria as a trade hub is rising in importance in East Africa, making it viable to build a port. (Image source: Washington State Dept of Transportation/Flickr) The agreement was signed between Algeria’s transport ministry, China Harbour and Engineering Company (CHEC).... Read more »

Posted on : Thursday , 21st January 2016

Djibouti begins constructing first ever solar power plant

Djibouti has begun constructing its first ever solar power plant located in Grand Bara, in the south of the country aimed to cut the cost of energy and add 50 megawatts of power towards a capacity of 300 megawatts. The US$ 390m project is as a result of a partnership between the Republic of Djibouti and Green Enesys, a German company specializing in renewable energy. Energy Minister Ali Yacoub Mahamoud confirmed the.... Read more »

Posted on : Thursday , 21st January 2016

Construction of Port Reitz/Moi International Airport Access Road launched

The construction of the US$ 31m Port Reitz/Moi International Airport Access Road in Mombasa, Kenya has finally been launched by President Uhuru Kenyatta and is expected to ease traffic by allowing faster flow of goods. The project which is being implemented by the Kenya National Highways Authority (KeNHA) and overseen by TradeMark East Africa (TMEA) is being financed by the United Kingdom government and partly by the Kenyan.... Read more »

Posted on : Thursday , 21st January 2016

Rwanda Special Economic Zone Continues to Attract Investors

As Rwanda is the second easiest place to do business in Africa after Mauritius, as indicated by the World Bank's 2016 Doing Business report, its Special Economic Zone has continued attracting investors. The Special Economic Zone program within the Rwanda Development Board (RDB) is designed to address domestic private sector constraints such as availability of industrial and commercial land, availability and the cost of energy, limited.... Read more »

Posted on : Wednesday , 20th January 2016

Rwanda: Govt, Private Sector Move to Streamline Textile Industry

The Ministry of Trade and Industry and the Association of Professional Tailors plan to set up a tailoring factory under a company to be named "Kigali Garment Centre" to reduce importation of second hand clothes, Minister Francois Kanimba said. Speaking at a dialogue with the tailors, yesterday, in Kigali, the Trade and Industry minister said the factory would be set up by the end of the year. The association was.... Read more »

Posted on : Wednesday , 20th January 2016

UK Firm Ready to Build Iron Smelter in Chambishi

A United Kingdom (UK)-based company has expressed interest in putting up an iron smelter at the Chambishi Multi-Facility Economic Zone (CMFEZ). Zambia-China Economic and Trade Corporation spokesperson Stephen Lindunda said in an interview that the UK-based company was interested in establishing the iron smelter at CMFEZ. He said 10 Chinese companies had also expressed interest in investing in the manufacturing of different.... Read more »

Posted on : Wednesday , 20th January 2016