N e w s

Nigeria: Banking Sector Plans Fresh N300 Billion Agriculture Financing for 2016

A new window of opportunities may have been opened up in the nation's agriculture sector, with a pledge of N300 billion fresh financing of the economic segment and its value chains in 2016 by the Bankers' Committee.   Besides, the earlier plans by the Central Bank of Nigeria (CBN) to create about one million jobs through small businesses' development and support by lending at "ridiculously" lower interest rate to graduates got.... Read more »

Posted on : Tuesday , 15th December 2015

Ethiopia: Authority Launches Construction of U.S.$700 Million Expressway

The 10,000km highway is designed for traffic levels forecast for the next 21 years   Ethiopian Roads Authority began construction of the Modjo-Hawassa Expressway, which, upon completion in five years, will have a million new trees flanking it on both sides.   The official launch of construction of the first four phases from Modjo to Meki by Prime Minister Hailemraim Desalegn on December 10, 2015, was the culmination of a four-year.... Read more »

Posted on : Tuesday , 15th December 2015

Ethiopia: Corporation Allocates 1 Bln. Usd for Industrial Parks

Industrial Parks Development Corporation announced that it has allocated one billion USD to construct over ten parks in Adama, Makalle, Kombolcha, Jimma and Bahir Dar towns.   Briefing journalists on Corporation current activities yesterday, Corporation CEO with the Rank of State Minister Sisay Gemechu said that the government plans to construct ten new industrial parks in Growth and Transformation Plan II period. The construction of.... Read more »

Posted on : Tuesday , 15th December 2015

Lagos Approves Flyover Bridges for Ajah, Abule Egba

The Lagos State Government has approved the construction of flyover bridges for two of the state's high-density traffic zones - Ajah roundabout and Abule Egba junction. The two major projects were approved by the State's Executive Council and have been duly awarded to contractors for a speedy commencement of work.   In a statement yesterday by the state's Commissioner for Information and Strategy, Mr. Steve Ayorinde, the projects will be.... Read more »

Posted on : Tuesday , 15th December 2015

Alpla buys operations in Egypt and Italy

Plastics packaging giant Alpla Holding GmbH has continued its worldwide expansion with acquisitions in Egypt and Italy. The Austria-based group will take over the Egyptian production site of Greek company Argo SA at the end of 2015. The facility is located around 30 kilometers northeast of central Cairo, in the industrial area of El Obour. Argo has operated the Egyptian plant since 2011. The plant produces blow molded containers and has.... Read more »

Posted on : Tuesday , 15th December 2015

Constantia Flexibles completes acquisition of Afripack

Vienna, Austria-headquartered packaging company Constantia Flexibles GmbH has announced that it has completed its acquisition of South African flexibles packaging group Afripack. The completion comes following approval from the antitrust authorities. A financial figure for the deal was not disclosed. Constantia highlights that Africa is one of the fastest growing markets for flexible packaging, with demand being pushed by factors including.... Read more »

Posted on : Tuesday , 15th December 2015

Tanzania: Diamond Drilling Confirms High Grades at Walkabout Resources’ Lindi Jumbo Project

African focused junior mineral exploration company Walkabout Resources has reported very high grade graphite assay results of up to nearly 40% total graphitic carbon (TGC) for its maiden diamond drilling programme at its Lindi Jumbo project in south eastern Tanzania. The diamond drill holes, all along the western flank of the Gilbert Arcarea of focus, were drilled in order to provide core material for metallurgical test work and size by.... Read more »

Posted on : Tuesday , 15th December 2015

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



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