Market News Page No. 413| Africa Business News

Newly constructed major underpass in Africa officially opened

A newly constructed major underpass in South Africa has been officially opened by the Executive Mayor of the City of Ekurhuleni, Mr Mondli Gungubele at the Riverfields Boulevard. Riverfields is a mixed use development that has attracted global brands, among others DHL, John Deere, Jonsson and DB Schenker, to state-of-the-art business and logistics parks. With the underpass business in the area is poised to.... Read more »

Posted on : Wednesday , 25th November 2015

Tanzania: Aerial Oil, Gas Surveys Take Off

The second phase for the AGGS petroleum and natural gas analysis using special aircraft is mapped within the Eyasi Wembere and Mandawa blocks under which other regions such as Tabora, Shinyanga and Lindi will also be mapped in the study. In Arusha, where the aerial survey starts today, the exercise will cover the Lake Eyasi escarpment, the Lake Manyara Basin and Lake Natron (Oldonyo L’engai) landscape. Overall, the task, expected to.... Read more »

Posted on : Wednesday , 25th November 2015

More hydro power stations in East Africa to be constructed

Plans to construct more hydro power stations in Uganda are in the pipeline in a bid to generate 2,550 MW aimed at boosting its goal to industrialize, the country’s president Yoweri Museveni has said. Museveni said that his government is on a campaign trail to industrialize the northern part of the country. “Northern Uganda is going to be the center of Uganda. We are going to turn and transform it to be an.... Read more »

Posted on : Wednesday , 25th November 2015

Parliament to Discuss New Mining Law Next Month

A new mining law to be debated by parliament starting next month promises to improve the environment for investment and generally enhance Uganda’s mining sector. “We hope to have a new law for debate in Parliament by December,” Peter Lokeris, the State Minister for mineral development told the annual general meeting of the Uganda Chamber of Minerals and Petroleum (UCMP), an outfit that brings together players in the.... Read more »

Posted on : Wednesday , 25th November 2015

East African Ports taken into consideration to increase Imports & Exports

As part of a new national strategy, Ethiopia will begin using ports in Kenya, Somaliland and Sudan in order to increase trade volume. This strategy will decrease Ethiopia’s current policy of relying solely on the Port of Djibouti. In a move supported by the United Nations Development Programme (UNDP), Ethiopia will begin using Mombasa Port in Kenya, Berbera Port in Somaliland, and Port Sudan in Sudan. In addition, Ethiopia will.... Read more »

Posted on : Tuesday , 24th November 2015

Cargo airport in Africa to be constructed

A US$100.51m cargo airport in Nigeria will be constructed in Nasarawa State, governor Tanko Al-makura, has said. The governor was speaking during the signing of the financial contract agreement between the state government and Tongyi Group Engineering, a Chinese firm tasked with the construction with their representative HYPAD . The agreement stated that the Chinese firm will be responsible for the project’s finance..... Read more »

Posted on : Tuesday , 24th November 2015

China to invest in major construction projects in Africa

Chinese firm Henan International Cooperation Group under the jurisdiction of Henan province is set to invest in major construction projects in Nigeria. This follows a meeting between Henan commissioner Mr. Jiao Jinmiao and Cross River State Governor Ben Ayade in Chinese city of Zhengzhou. Among the planned investments includes constructing a power plant, warehouses, an industrial city where cars, car accessories, spare parts.... Read more »

Posted on : Tuesday , 24th November 2015

Siemens signs power plant construction deal with Africa

Siemens has penned down a power plant construction deal with Egypt to fund of the power project that they are set to construct in the country. The financial closure agreement with German industrial giant Siemens will see Orascom Construction, and El-Sewedy Electric fund the construction of three electricity production undertakings in Egypt. The long awaited function that will see Egypt’s power shortage cut short was.... Read more »

Posted on : Tuesday , 24th November 2015

Kenyas dream of oil riches remains a long pipedream

Delays in Lamu Port South Sudan Ethiopia Transport (Lapsset) corridor and the fall in global oil prices will stretch Kenya’s plans to produce oil beyond 2017, a new study says. Oxford Business Group Friday said in its The Report- Kenya 2015 that Lapsset is “ambitious and running behind schedule.” The survey also says that, “production will not begin until the anticipated oil price recovery.” Lapsset.... Read more »

Posted on : Monday , 23rd November 2015

Plan hatched to revive construction industry in Southern Africa .

The once thriving construction industry in Botswana will be revived through an economic stimulus programme, MP Dr Pelonomi Venson-Moitoi has announced. Dr Pelonomi said the construction sector was one of the areas that the government eyes to stimulate the economy and create jobs. The decision was informed by assessment that showed the economic benefits of boosting the construction industry in the country. Construction had been badly.... Read more »

Posted on : Monday , 23rd November 2015

China to invest in major construction projects in Africa

Chinese firm Henan International Cooperation Group under the jurisdiction of Henan province is set to invest in major construction projects in Nigeria. This follows a meeting between Henan commissioner Mr. Jiao Jinmiao and Cross River State Governor Ben Ayade in Chinese city of Zhengzhou. Among the planned investments includes constructing a power plant, warehouses, an industrial city where cars, car accessories, spare parts would be.... Read more »

Posted on : Monday , 23rd November 2015

Siemens signs power plant construction deal with Africa

Siemens has penned down a power plant construction deal with Egypt to fund of the power project that they are set to construct in the country. The financial closure agreement with German industrial giant Siemens will see Orascom Construction, and El-Sewedy Electric fund the construction of three electricity production undertakings in Egypt. The long awaited function that will see Egypt’s power shortage cut short was overseen by.... Read more »

Posted on : Monday , 23rd November 2015