Market News Page No. 404| Africa Business News | Afrotrade

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Automobile Companies paving way to big business in East Africa

Muscling its way into the market is China’s Beiqi Foton Motor, which last year delivered over 10,000 vehicles to Africa and in March established a sales division in Kenya. It is busy finishing construction of a US$50-million assembly plant in Nairobi that it claims will have capacity for delivering 10,000 vehicles a year to the region. Foton designs and manufactures trucks, buses, tippers, prime movers, and pick-ups. It has.... Read more »

Posted on : Saturday , 7th November 2015

PREDICTIONS FORCAST IMPROVED INVESTMENT INFLOWS INTO THE EAST AFRICAN REGION

East Africa’s economic powerhouse Kenya is expected to see economic growth and improved foreign direct inflows, a leading analyst has predicted. “We are expecting increased business in the country and region due to improved business confidence and growth potential in the east African and sub-Saharan region,” Eric Munywoki, Research Analyst at Old Mutual Securities told CNBC Africa. “We expect this.... Read more »

Posted on : Saturday , 7th November 2015

Tanzania: Kibo Mining Focused on Finance for Mbeya

Kibo Mining‘s (LON:KIBO) focus is now to complete the financing for its Mbeya coal to power project in Tanzania, it said today. The group has signed a joint development agreement with Chinese firm SEPCO and during the quarter completed a pre-feasibility study on the mining component. “With the most important strategic elements now in place for the MCCP, Kibo is now focusing its entire effort on achieving financial closure for.... Read more »

Posted on : Saturday , 7th November 2015

Eritrea: Sunridge Gold Plans Commercial Production at Debarwa by End 2016

“We’ve had a tremendous amount of success,” says Davis. “We’ve drilled 400,000 metres. We’ve completed a full bankable feasibility study, and we did a full environmental impact assessment in 2013. Since that time it’s been all about the permitting.” In some respect that’s been a slow process, but with the government on board as a participating equity partner, the ultimate outcome was.... Read more »

Posted on : Saturday , 7th November 2015

South Africa: NUM Signed an Esop Agreement With Two Rivers Platinum Mine

The National Union of Mineworkers (NUM) today signed a collective agreement with Two Rivers Platinum Mine that will result in the speedy implementation of an Employee Share Ownership Plan (ESOP) aimed at attracting and retaining employees, and fulfil the employer's employment obligations to its employees in terms of the Mining Charter. The agreement was signed at the African Rainbow Minerals (ARM) Head Office in Johannesburg. NUM and.... Read more »

Posted on : Saturday , 7th November 2015

Telcos Seal Nigeria, Benin Partnership

Abuja — Mobile networks are poised to benefit from a new non-equity partnership two operators have established to cover Nigeria and Benin. Vodafone and Globacom Limited have sealed the partnership. Under the Partner Market agreement, Vodafone and Globacom will work together to boost significantly the experience for consumer and business customers, utilising a wide range of their world-beating mobile, voice and data.... Read more »

Posted on : Saturday , 7th November 2015

Kenya: Eastern Bypass, Kangundo Road Link to Be Tarmacked

Nairobi Governor Evans Kidero yesterday announced City Hall will complete tarmacking the road linking Kangundo road to the Eastern bypass in a few months. The road runs from the Administration Police Training College gate in Embakasi and joins Kangundo Road near Njiru market. The road is tarmacked halfway as the contractor pulled out due to nonpayment by the now-defunct City Council of Nairobi. Speaking to residents of.... Read more »

Posted on : Saturday , 7th November 2015

Kenya: ARM Invests in New Cement Technology

Cement maker ARM Group has rolled out a new a technology in a bid to reduce the cost of construction. Chief executive Pradeep Paunrana blamed high cost of housing on expensive technologies in the construction industry. "We need to build more economically to keep prices of finished houses within reach of final users, something that will not cost an arm and a leg for a house or office owner," he said in a statement..... Read more »

Posted on : Saturday , 7th November 2015

Saudi Arabia to Finance Sudanese Agriculture, Dams Projects

El Riyadh — On Tuesday, Saudi Arabia signed four agreements on the funding of Sudanese dam, electricity and agricultural projects. After Saudi Arabia agreed on financing the projects, President Omar Al Bashir arrived to the Saudi capital of El Riyadh on Tuesday, with a delegation including FA Minister Ibrahim Ghandour, Finance Minister Badreldin Mahmoud, the Minister of Electricity and Water Resources, Muataz Mousa, and military.... Read more »

Posted on : Saturday , 7th November 2015

Kenya: Govt Proposes Premix Concrete for Storied Buildings

The National Construction Authority (NCA) has proposed that construction works for buildings above three floors be done using pre-mixed concrete delivered on site by licensed subcontractors. NCA's Buildings Inspectorate Secretary Moses Nyakiongora said they had also proposed that no onsite mixtures would be condoned. The move is aimed at reversing the trend where houses have been collapsing due to use of poor quality materials.... Read more »

Posted on : Saturday , 7th November 2015

Africa expansion drives SABMiller, AB InBev mega-merger

Access to African markets is a key driver in the planned mega-merger of brewing giants SAB Miller and AB InBev, according to industry insiders. The planned $106 billion acquisition of SABMiller by AB InBev will be the third largest M&A transaction in history, and will give the merged entity control over around one third of global beer sales. While AB InBev has a very small footprint in the continent, SABMiller currently sells.... Read more »

Posted on : Saturday , 7th November 2015

Sappi Invests In Stanger Mill As World Class Office and Tissue Paper Producer

Sappi concluded the sale of its Enstra Mill near Johannesburg. The mill was transferred on 2 November 2015 to the new owners, Corruseal. The sale is not categorisable in terms of section 9.5 of the JSE Listings Requirements. The production of Sappi’s much loved Typek copy paper has moved to Sappi Stanger Mill in KwaZulu-Natal. The agreement with Corruseal regarding Enstra Mill includes the recycled container board and kraft papers.... Read more »

Posted on : Saturday , 7th November 2015

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