Market News Page No. 374| Africa Business News

IFC Invests in Co-Op Bank to Support Entrepreneurs and Housing Finance in Kenya

IFC, a member of the World Bank Group, announced today that it will provide a $105 million loan to the Co-operative Bank of Kenya (Co-op Bank) to support lending to small and medium businesses, women entrepreneurs and the housing sector. The second largest bank in Kenya by total assets, Co-op Bank has 143 branches across the country and a subsidiary in South Sudan. Small and medium enterprises account for eighteen percent of the Bank's.... Read more »

Posted on : Monday , 4th April 2016

East Africa: Ericsson Data Analytics Solution Captures Rise of the Internet of Things

Ericsson has launched the User & IoT Data Analytics solution at the Consumer Electronics Show (CES) event, held January 6 to January 9, 2016 in Las Vegas, US. The solution will help operators improve internal efficiency in managing data from subscribers and Internet of Things (IoT) devices while exploring new cross-vertical IoT applications. "The launch of the User & IoT Data Analytics solution is an important step in Ericsson's.... Read more »

Posted on : Monday , 4th April 2016

Ethiopia: New Incentive Rates for Local Manufacturers

The Ministry of Finance & Economic Cooperation (MoFEC) is ranking manufacturers by value addition for duty free benefits based on a new directive expected to be approved this month. This will happen by replacing the existing directive, No. 35/2013, which gave import privileges for only 30pc or more value addition. The new one will have a wide range from 0.05pc to 40pc A committee established a year ago including members from the.... Read more »

Posted on : Monday , 18th January 2016

German solar manufacturer Renusol enters African market

German photovoltaic (PV) mounting systems manufacturer, Renusol has expanded its market frontiers to South Africa. Renusol specializes in sophisticated solutions for installing photovoltaic systems. With their extensive experience in the solar industry, they develop, produce and sell modular systems for the safe mounting of solar systems to all types of roofs. Renusol is represented in all core markets in Europe and.... Read more »

Posted on : Monday , 18th January 2016

Limak Cement Group penetrates the African market

Limak Cement Group, a Turkey based Cement Company has issued an acquisition request of cement operations and supply in Africa. The company has expressed its interest in some of the African countries such as Mozambique and Ivory Coast. Among other major players in Africa cement market include Lafargeholcim, Germany’s Heidelberg and South African-based PPC. Dangote Cement is also a force to reckon with. The company.... Read more »

Posted on : Monday , 18th January 2016

Siemens appoints Partner for Building Technologies in Kenya

Siemens Building Technologies Division, recently appointed International Energy Technik Limited (IET), a leading electrical engineering company in Kenya as its partner for Building Technologies in East Africa. In addition to the building technologies portfolio, International Energy Technik has represented Siemens AG for more than 25 years in industrial Automation and Drives products and services in the East African region. International.... Read more »

Posted on : Monday , 18th January 2016

BUILDEXPO AFRICA 2016 ramps up with bigger, better venue

Africa’s largest international trade exhibition for the Building and Construction industry BUILDEXPO AFRICA returns this year with a much brighter event at a brand new, larger and conveniently located venue. From June 04 - 06, 2016, The Carnivore in Nairobi, Kenya,will see tens of thousands of buyers and visitors from across the world foster partnerships and collaborations in the rapidly expanding Industry. With as much as 15,000.... Read more »

Posted on : Saturday , 16th January 2016

East Africa Marching Towards Industrial Development

The secret behind becoming prosperous, ensuring a turnaround in lifestyle, among others, resides in spurring industrial development. Although many developing countries envisage to become industry hubs, they fail to adopt the right policies and strategies. Constrained by lack of financial muscle and skilled human power, their ambitions to industrial development could not come anywhere near success. But Ethiopia has mapped out a.... Read more »

Posted on : Saturday , 16th January 2016

IFC issues African Country first green bond for climate-friendly initiatives

World Bank group IFC has issued a green bond worth US$71mn for climate-friendly investments in emerging markets windenergy jimhammer flickrThe IFC bond will be used for investments in renewable energy and environment-friendly initiatives. The proceeds will be used to support investments in renewable energy, energy efficiency, and other areas that aim to reduce greenhouse emissions. The bond has been issued in South African currency or.... Read more »

Posted on : Saturday , 16th January 2016

Olam and InVivo to develop animal feed solutions in Nigeria

Global agri-business entity Olam International Limited and InVivo Animal Nutrition & Health have signed a consulting agreement to develop expertise in animal feed production in Nigeria The agreement, which is for two years, will involve technical assistance and sharing of expertise to jointly develop solutions and products in the animal feed space. The knowledge transfer between the two companies will help.... Read more »

Posted on : Friday , 15th January 2016

South Africa sends first batch of lychee to USA

South Africa has exported its first batch of lychee to the USA this month, said the country’s department of agriculture, forestry and fisheries The shipment arrived in Atlanta, was irradiated and then transhipped to the relevant agents, said officials. South Africa is a major lychee producer and experts believe the USA is a good market for the fruit. So far, the country mainly exports to the EU as well as to the Middle.... Read more »

Posted on : Friday , 15th January 2016

C-MRF launched by COMESA to improve grain trade

The COMESA Mutual Recognition Framework (C-MRF) has been launched to facilitate grain trade between COMESA nations The goal of the C-MRF, launched in Uganda last week, is to establish common grading criteria for maize, enable proficiency testing for aflatoxin analysis and risk-based sampling protocol. The roadmap will provide analytical results and recognise analysis certificates issued by labs of participating countries,.... Read more »

Posted on : Friday , 15th January 2016