Market News Page No. 390| Africa Business News | Afrotrade

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Major Step for Local Manufacturing in Africa's Automotive Sector

South Africa's automotive sector has received a major boost with the launch of the combi metre production facility by Hesto Harnesses in KwaZulu-Natal. Hesto Harnesses manufactures wiring harnesses for the automotive industry from a factory situated in Stanger, 90km north of Durban. The company supplies automotive electrical distribution systems, commonly known as wiring harnesses and combination (combi) meters, to original.... Read more »

Posted on : Tuesday , 15th December 2015

Africa Clinches Mega Development Prospects

The Week of the Programme for Infrastructure Development in Africa (PIDA) in Abidjan, Ivory Coast, focusing on the continent's infrastructural development ended today with resolutions that could catapult huge advances for Africa. The PIDA Week, 13 to 17 November, is the first of its kind since it was endorsed by African heads of state in 2012 and it brings together partners in infrastructure in different areas including energy,.... Read more »

Posted on : Tuesday , 15th December 2015

Kuwait Fund Signs Nyagatare-Rukomo Road Agreement with East Africa

A Loan Agreement was signed today in Kigali between the Republic of Rwanda and Kuwait Fund for Arab Economic Development whereby the Fund will extend a loan of Kuwaiti Dinars Four Million and Five Hundred Thousand Kuwaiti Dinars (K.D. 4,500,000/-), approximately 15.3 million US Dollars, to help finance the Nyagatare-Rukomo Road Project. The Loan Agreement was signed on behalf of the Republic of Rwanda by H.E. Mr. Claver Gatete -.... Read more »

Posted on : Tuesday , 15th December 2015

Chinese Lanpec Eyes Investment in Sudan

The Sudanese Ministry of Petroleum has unveiled a design by Chinese based Lanpec Co. Ltd. for investment in Sudanese oil and gas refineries. According to a statement by the Ministry the company has visited refineries in Khartoum and Port Sudan over the past period and has promised to conclude a memo of understanding in this regard within 45 days. Mahmoud Mohamed Abdel-Rahman, State Minister for Oil, noted interest was driven by successful.... Read more »

Posted on : Monday , 14th December 2015

BG Tanzania Donates $ 280,000 to Health Care

BG Tanzania, a firm that deals with the exploration performance, a unique LNG business, and ability to fast-track the development of economic projects oil around the world last week announced that has donated a total Tsh.602,000,000 ($ 280,000 to lift up health services in Mtwara region (600 km) from Dar es Salaam. An official communiqué of which a copy was availed to East African Business Week indicates that Mtwara.... Read more »

Posted on : Monday , 14th December 2015

Kibo Mining Makes Good Progress Across Project Portfolio in Tanzania

In a letter to shareholders, Kibo Mining CEO Louis Coetzee outlined the current status of the company and its projects: The Board of Kibo Mining is pleased to report on a highly productive 2015, which saw the company significantly advance work across our project portfolio. This progress has been achieved against the backdrop of persistent challenges for mining companies. As one of the best performing mining stocks on London’s.... Read more »

Posted on : Monday , 14th December 2015

Zimbabwe: Govt to Set Up Tantalite Buying Centre

GOVERNMENT intends to establish a tantalite buying centre modelled along the same lines as Fidelity Printers and Refiners, Mines and Mining Development Minister Walter Chidhakwa. Tantalite is a black mineral found in granite rocks and mostly used in the electronics industry. It is used for the manufacturing of electronic capacitors for cell-phones and laptop computer chips, among others. "We need it (marketing of the tantalite) to.... Read more »

Posted on : Monday , 14th December 2015

Finland's 2 Million Euros to Boost Tanzania Growth

Dar es Salaam — Finish government has granted Euro 2 million (about Sh4.7billion) to an organization working to unlock economic potentials in East Africa--TradeMark East Africa (TMEA)--to complete building houses for staff working at border posts. The move is part of a bigger plan to facilitate a one-stop-centre in four border posts in Tanzania. The system which was proposed by the East African Community (EAC) will reduce.... Read more »

Posted on : Monday , 14th December 2015

4G Comes to Dar es Salaam

Dar es Salaam — Five regions in Tanzania have been connected by the newly technology (4G LTE) that will see internet communication faster and more efficient. LTE is a 4G wireless communications standard developed by the 3rd Generation Partnership Project (3GPP) that's designed to provide up to 10x the speeds of 3G networks for mobile devices such as smartphones, tablets, netbooks, notebooks and wireless hotspots. The.... Read more »

Posted on : Monday , 14th December 2015

Malawi Cotton Farmers to Smile All the Way to the Bank

Cotton farmers in Malawi are all smiles following the raise in cotton prices by over 90 per cent for those on contract farming with Cotton Ginners Africa Limited. The company's general manager Spencer Dzimbiri told a news conference in Blantyre that the cotton firm will splash out K1.3 billion in loans for farm input for over 100000 cotton farmers. Dzimbiri said this planting season, his company will be buying cotton at K375.... Read more »

Posted on : Monday , 14th December 2015

Tanzania Has High Potential For Renewable Energy Projects, US Consulting Firm Indicates

Tanzania has been recently considered by Frost & Sullivan, a US based consulting firm involved with market research for growth strategies in different industries, within a list of seven countries in Sub Saharan Africa (SSA) with a big potential to scale up power demand in the country by the usage of renewable energy (RE) projects. The list is the outcome of a research named Large-Scale RE Power Development Opportunities in SSA, which.... Read more »

Posted on : Monday , 14th December 2015

Chinese-Built Hospital Brings Relief to Africa

The area of Mahusekwa had been a nondescript rural outpost in Zimbabwe that few people could find it on the map. Fewer could justify a visit. But things have changed. Over the past two years, people living in the Marondera district -- with a population of 190 000 -- come quite often to this tiny township. And the main attraction is no other than a modern hospital. The Mahusekwa Hospital, also known as China-Zimbabwe.... Read more »

Posted on : Monday , 14th December 2015

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