Market News Page No. 375| Africa Business News

Africa sole continent likely to achieve double-digit economic growth by 2025

Africa is set to become the second fastest growing continent by 2025, with GDP set to touch US$4.5 trillion joburgdevelopment paulsaad flickrRapid urbanisation could lead to several Africans living and working in large cities. A Frost and Sullivan report, in the form of a video titled Mega Trends in Africa, states that urbanisation, mobility, infrastructure, natural resources, telecom and inter-regional trade could make Africa the.... Read more »

Posted on : Friday , 5th February 2016

East Africa Near to Exporting Power

East Africa wants to become a leading electricity exporter in Africa after reaching initial agreements with several neighbouring countries writes JOHN SAMBO. Gosaye Mengistie Abayneh, the CEO of Ethiopian Electric Utility (EEU) said recently, "Our vision is to interconnect the entire network in the African continent and beyond. "This is a very good opportunity for us. There is a very good know-how these days and a.... Read more »

Posted on : Thursday , 4th February 2016

Africa: 100 Solar Milling Plants to Be Operational Soon

The Zambia Cooperative Federation (ZCF) has announced that the 100 solar milling plants under the Presidential Initiative will be operational by February 15 this year. ZCF director general James Chirwa said in an interview that all the solar mills arrived in Zambia last month from China and the installation is currently ongoing in different parts of the country. The milling plants, which are being installed in each of the.... Read more »

Posted on : Thursday , 4th February 2016

Tanzania plans to install 10,000 biogas plants by 2017

Tanzania, along with the governments of Norway and the Netherlands, is planning to install 10,000 biogas plants by 2017 The biogas plants are environment-friendly and are expected to benefit a large number of rural communities in Tanzania. As part of the Tanzania Domestic Biogas Project (TDBP), aimed at benefiting rural communities in the country, these biogas plants will be designed, built and installed in various parts of.... Read more »

Posted on : Thursday , 4th February 2016

Phoenix Energy to construct mega solar power plant in Africa

One of the leading Lebanese energy companies Phoenix Energy is now set to construct one of the largest solar power plant in Egypt after clinching a contract for the same. According to the officials from the Lebanese firm, the project will be constructed near Luxor and Aswan region in the country. According to the officials, the project is expected to be one of the biggest in Egypt. Phoenix Energy will install over 200,000.... Read more »

Posted on : Wednesday , 3rd February 2016

Construction of major highway at Kenya�s Coast to begin

Kenya National Highways Authority (KeNHA) has confirmed that the construction of a major highway at Kenya’s Coast is set to begin later this year. The Garsen-Witu-Lamu road in Kenya is expected to boost business and economic growth in the area once complete. KeNHA made an official announcement stating that the paving of the road will begin following the advertisement of the tender in the daily newspapers. The successful.... Read more »

Posted on : Wednesday , 3rd February 2016

East Africa Rising: Construction Opportunities

As the international construction market becomes more globalised and competition for untapped markets increase, Africa especially East Africa has seen extensive influx of foreign capital. Increasingly firms are taking advantage of the lucrative potential of a continent that is still largely lacking access to basic infrastructure, to build adequate transport networks, water supply, functional power grids and formal housing for its growing.... Read more »

Posted on : Wednesday , 3rd February 2016

DP World Creates 5-Point Africa Plan

A five point plan to help tackle Africa’s infrastructure gap is among the findings of a new DP World report unveiled at the Africa Global Business Forum. Public private partnerships, domestic bond financing, monitoring the life cycle of infrastructure by maintaining and upgrading existing stock, enhanced trade integration and improved trade facilitation are key points raised in the study ‘Africa At The Crossroads:.... Read more »

Posted on : Tuesday , 2nd February 2016

East African Pharmaceutical Signs U.S.$42 Million Agreement with UK Based Firm

Addis Pharmaceutical Factory (APF) signed a 42 million dollar partnership agreement with 54 Capital Ltd., a UK-based asset management equity firm, which has investments in different countries in Africa. APF, one of the many businesses under the Endowment Fund for the Rehabilitation of Tigray (EFFORT), ceded 40.7pc of its equity in exchange for the indicated sum, which comes to 891 million Br. "54 Capital can now play.... Read more »

Posted on : Tuesday , 2nd February 2016

Qatar seeks to construct major project in East Africa

Diversified Qatari real estate firm Ezdan Holding Group has announced its interest to enter the Ethiopian market with a proposed mega tourist project in Ethiopia. The proposed 150,000m² resort construction project will features a high-quality technical specifications in terms of facilities and services which will contribute in raising the quality of real estate products available in the Ethiopian market. Speaking during a.... Read more »

Posted on : Tuesday , 2nd February 2016

Industrial technology is raisining Kenya�s GDP

The word ‘economy’ has connotations of big business, office-based industry and online-based markets Kenya John WollwerthMobile technology is important in Kenya with 82 per cent of the population owning a mobile phone. Economies like the US and the UK are largely based on retail and the service sector, providing a strong flow of GDP and adding to growth. For Kenya, farming and agriculture come to mind, contributing as of the.... Read more »

Posted on : Monday , 1st February 2016

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