Market News Page No. 407| Africa Business News | Afrotrade

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Chinese company to set up cement plant in Africa

Namibian and Chinese investors have announced a plan to set up a cement plant at the cost of US$350mn near Otjiwarongo, Namibia cement sebastianbarre flickrThe setting of the plant has enough limestone to last production for at least 40 years. Whale Rock Cement (Whale Rock) is the local partner on the project along with Chinese Asia and Africa Business Management (Xian) Company. Whale Rock has said that a comprehensive.... Read more »

Posted on : Thursday , 5th November 2015

Africa Development Bank approves US$210mn for road infrastructure

The board of directors of Africa Development Bank (AfDB) has approved funding of more than US$210mn to support road infrastructure projects in Tunisia Tunisia Road Rusty Clark Wikimedia CommonsThe road project is expected to help reduce road accidents and improve road infrastructure resilience. Tunisia’s Road Infrastructure Modernisation Project (PMIR) seeks to rehabilitate 719 km of classified roads, mainly in the.... Read more »

Posted on : Thursday , 5th November 2015

World�s largest concentrated solar power plant to come up in Africa

The construction of what is expected be the world’s biggest concentrated solar power plant in Morocco is ongoing. According to the World Bank, when complete the concentrated solar power plant in Morocco will supply electricity to 1.1 million Moroccans by 2018. The country which is famous for its meandering medinas and the scenic Atlas Mountains will now be known for the largest solar power plant. The plant is.... Read more »

Posted on : Thursday , 5th November 2015

US$ 10.8m agreement signed for renewable energy projects in Kenya

Chase Bank and the French Development Agency have signed a US$ 10.8m loan to finance renewable energy projects in Kenya. Chase Bank Chief Executive Paul Njaga confirmed the reports and said that the money will be lent to businesses that want to invest in renewable energy technologies projects such as small hydro, biomass, biogas, solar, geothermal and other energy efficient measures. “This is a 12-year facility and will.... Read more »

Posted on : Thursday , 5th November 2015

Chinese firm signs deal with Tatu City in Kenya to construct infrastructure

Chinese firm Sinohydro, has signed an infrastructure construction deal with Tatu City in Kenya. The deal will see the water, sewerage and temporary road works developed. The agreement worth US$ 4m will cater for basic infrastructure that will supplement the first phase of the project and another seven-kilometre temporary road will be constructed to help facilitate ongoing construction activities. “We are pleased to extend our.... Read more »

Posted on : Wednesday , 4th November 2015

Octant Energy Primed As It Agrees Pivotal Acquisition in Kenya and Tanzania

Toronto listed junior Octant Energy Corp (CVE:OEL) has revealed its done a deal with the administrators ofAfren to buy oil and gas assets in Kenya and Tanzania. It is acquiring two blocks in Kenya – L17/L18 and Block 1- and one asset, the Tanga Block, in Southern Tanzania. The Canadian company says the acquisition is important for the development of the assets, as it sees them being taken on by a team with extensive regional.... Read more »

Posted on : Wednesday , 4th November 2015

New cement production technology to be adopted in Kenya

Cement manufacturer ARM Cement in Kenya has announced that it will launch a new technology in the production of cement, a move that will significantly reduce the cost of construction,the firm’s chief executive has announced. Speaking during a construction expo organised by Totally Concrete East Africa in collaboration with ARM Cement, chief executive Pradeep Paunrana said that the expensive technology in the production.... Read more »

Posted on : Wednesday , 4th November 2015

Manufacturing Sector Can Drive Africa's Global Competitiveness

The Industrial Development Corporation this week hosted a Conference themed: "Driving South Africa's Competitiveness through Industrial Development." Many interesting insights emerged from the Conference about how to strengthen South Africa's manufacturing capacity. However, what also emerged is that South Africa has a strong base from which to build. In this regard, South Africa has developed an established,.... Read more »

Posted on : Wednesday , 4th November 2015

FG Commissions U.S.$150 Million Gas Pipeline Manufacturing Plant in Africa

The Federal Government, yesterday, commissioned $150 million, about N30 billion, ultra-modern gas pipeline manufacturing plant. Speaking during the commissioning of the plant and the roll out ceremony of fabricated NNPC gas pipelines by the company in Abuja, President Muhammadu Buhari disclosed that the Federal Government will continue to promote and protect all efforts targeted at achieving industrial growth and improving the.... Read more »

Posted on : Wednesday , 4th November 2015

Kenya: North Rift Bloc to Export Fresh Produce

The North Rift Economic Bloc formed by eight counties is viable and will start exporting fresh produce, the chairman has said. Jackson Mandago (Uasin Gishu governor) said the bloc will fight poverty and economically empower more than 15 million people. The eight counties produce 30 per cent of the flowers exported from Kenya. Mandago said they will work towards increasing production of horticultural crops for.... Read more »

Posted on : Wednesday , 4th November 2015

Rwanda: Minicom, Indian Bank to Enhance Trade Competitiveness

The ministry of trade and industry (Minicom), in partnership with the Export and Import Bank of India (EXIM), have come up with strategies that are geared towards promoting export growth in the country. Speaking at a stakeholders' consultative meeting entitled 'Enhancing Rwandan Export Potential' yesterday, the permanent secretary of Minicom, Emmanuel Hategeka, said that the issuance of export credit insurance/ guarantees is important.... Read more »

Posted on : Wednesday , 4th November 2015

Tanzania: Museum to be Erected for Laetoli Footprints

Arusha — At least $200 million (about Sh400 billion) will be spent on the construction of a museum for Laetoli footprints in Ngorongoro Conservation Area (NCA), an expert has said. Dr Luois and Mary Leakey discovered the foot prints of human beings who date back to 3.6 million years ago were buried in 1998 to prevent them from weathering. Mr Joshua Mwankunda, an expert with Ngorongoro Conservation Area Authority, said the.... Read more »

Posted on : Wednesday , 4th November 2015

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