Market News Page No. 389| Africa Business News | Afrotrade

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UK and USA sign MoU to aid Africa with power generation

K’s Energy Africa campaign and USA’s Power Africa initiative have decided to sign a partnership to aid Africa with power generation projects geothermal HaukurHerbertsson flickrHarnessing geothermal energy sources across Africa could help overcome electricity deficits. An MoU was signed between USA and UK at the United Nations Economic Commission for Africa (UNECA) and New Climate Economy event Climate Change in Africa:.... Read more »

Posted on : Monday , 28th December 2015

French Companies to Invest in Zimbabwe

A number of French investments are lined up for Zimbabwe in 2016 with power giant, Schneider Electric, expected to enter the Zimbabwean market, French Ambassador to Zimbabwe Laurent Delahousse has said. Delahousse told businessdigest in an exclusive interview this week that the firm, which already has a branch in South Africa , will open a branch in the country with a view to set up a manufacturing plant in the near.... Read more »

Posted on : Monday , 28th December 2015

Sudan: Ministry of Minerals Signs Agreement With Neelan Company for Mining for Gold in Northern State

Khartoum — The Ministry of Minerals has signed and agreement with the Neelan International Company for Mining according to which the company was granted concession block for exploration for gold at Halfa Locality in the Northern State. The Minister of Minerals Dr. Ahmed Mohamed Sadiq Al-Karuri signed on behalf of the Government of Sudan,whereas the Director General of the Neelan International Company Salah-Eddin Hassan Abu Salih.... Read more »

Posted on : Monday , 28th December 2015

Zambia to Export High Value Crops to U.S

The Government is considering exporting high value crops to the US under the African Growth Opportunity Act (AGOA). The country has in the recent past been exporting agriculture products which include groundnuts. Commerce, Trade and Industry Minister Margaret Mwanakatwe said in an interview that, her ministry was working on introducing high value crops like cotton, spices and honey, to be exported to the US under.... Read more »

Posted on : Monday , 28th December 2015

African Cotton to Be Exported Duty, Quota-Free

African countries can now export their cotton to developed countries duty-and quota-free as from January following a global deal sealed in Nairobi at the World Trade Organisation Ministerial Conference. The ministers agreed on a deal that will allow least developed countries (LDCs) to export more cotton to developed countries. This will help LDCs, mainly those in sub-Saharan Africa, to gain greater access to non-producing.... Read more »

Posted on : Monday , 28th December 2015

East Africa: Direct Flights Boost Sino-Kenya Trade and Exchanges

Nairobi — The direct flight between the Chinese city Guangzhou and Kenya's capital Nairobi launched by China Southern Airlines in August has elevated Sino-Kenya relations, airline officials say. Linda Masinde, a supervisor at China Southern Airlines Nairobi office, said the Nairobi-Guangzhou direct flight had enhanced Sino-Kenya trade and people-to-people exchanges. "The direct flight from Nairobi to Guangzhou is.... Read more »

Posted on : Monday , 28th December 2015

Iran-Africa Cooperation - Flourishing Relations

Africa and the Republic of Iran have centuries of friendship. They struggled for freedom, equity and justice for their people and beyond. The two have also shared rich culture and people to people relations for long. The Iranian foreign and economic policies always give special attention for the African Continent and put it at the centre. After its revolution, the Republic of Iran has changed its foreign policy orientation and its economic ties.... Read more »

Posted on : Saturday , 26th December 2015

Zaire Province Is Open to Private Investment - Says Governor

Mbanza Congo — The governor of the northern Zaire province, José Joanes André, said on Tuesday in Mbanza Congo city that the province is open to welcome entrepreneurs who want to invest in various socio-economic areas in the region, aiming at contributing to its development. According to Joanes André, who spoke at the traditional yearend greetings ceremony, the present time the country is experiencing requires.... Read more »

Posted on : Saturday , 26th December 2015

Zambia: Bio-Refinery Welcome Development

The construction of Zambia's first bio-refinery to cater for 20 per cent of the country's petroleum requirements has come at the right time when the country is in dire need of cheaper energy to propel its economy. We have, therefore, every reason to appreciate the development because of the multiplier effect that is associated with the project. The development is welcome because Zambia has been grappling with limited sources of.... Read more »

Posted on : Saturday , 26th December 2015

AfDB Spends U.S.$1Billion On Energy Projects

The African Development Bank (AfDB) says it had devoted at least $1 billion to finance power and infrastructure projects in Africa this year alone. In October, the AfDB availed $428,43 million in loans and grants to finance projects in energy, infrastructure, transport and water and sanitation in eight African counties namely Zimbabwe, Guinea Bissau, Guinea, Senegal, Gambia and Côte d'Ivoire, Ghana and Tanzania. Of these.... Read more »

Posted on : Saturday , 26th December 2015

Africa Is Last Frontier for Carmakers on the Hunt for Growth

When Nigeria first unveiled incentives for carmakers to set up plants its auto industry had ground to a standstill. Fast forward two years, and there are at least 36 automakers with production licenses in the continent’s biggest economy, with Volkswagen AG, Nissan Motor Co. and Ford Motor Co. already making vehicles with local partners. The country is seeking to join South Africa as the only manufacturing base for the car industry in.... Read more »

Posted on : Thursday , 24th December 2015

China Africa Development Fund Hits 5 Bln USD

The China Development Bank has hit its target of pooling 5 billion U.S. dollars this year in its equity investment fund for investment in Africa, it said on Friday. It has already allocated or earmarked nearly 3.2 billion U.S. dollars in the China Africa Development Fund (CAD Fund) for more than 80 projects from infrastructure to agriculture to energy resources in 35 African countries. The bank estimated that these projects will attract.... Read more »

Posted on : Thursday , 24th December 2015

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