Market News Page No. 415| Africa Business News | Afrotrade

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Gas discovery in Africa to boost energy export

A recent Gas discovery in Egypt is likely to put the country back to its former position where it used to export energy. This follows the discovery of huge Zohr natural gas field at the coastline of the country. Discovered by oil exploration company Eni, The move will see the country back into exporting liquefied natural gas (LNG), making the bright spot of demand it has created in an oversupplied global gas market.... Read more »

Posted on : Monday , 2nd November 2015

Aggregates China, a Professional Aggregates Business Exhibition

If you want to bring your latest products, equipment and machinery to the China market or find good suppliers, Aggregates China 2016 is absolutly the best business platform. Aggregates China is a premier and most trusted aggregates machines and equipment trade show. Sand Stone2015 (the former name of Aggregates China) was successfully closed in China Import and Export Fair Complex from May 9 to May 11. Sand Stone2015 attracted many famous.... Read more »

Posted on : Saturday , 31st October 2015

East Africa Improves in Investment Destination Ranking

Uganda's move to allow online registration of businesses, make faster electricity connections and expand access to credit information, have improved the country as an investment destination. This is according to the World Bank Doing Business Report 2016, released on Wednesday. Uganda jumped 13 places from 132 to 122 out of 189 economies surveyed in the last 12 months. In the sub-Saharan Africa (SAA) region, the report.... Read more »

Posted on : Saturday , 31st October 2015

East Africa to See Potential Chinese Pharma Investment

A delegation of 10 Chinese companies has visited Ethiopia to determine feasibility of investment A delegation of 10 major Chinese pharmaceutical and medical supplies companies visited Ethiopia from October 20 to 21 as part of a UN facilitated initiative which may see them partnering with local companies to manufacture drugs, including those for the treatment of cancer. The initiative is also intended to transfer knowledge and.... Read more »

Posted on : Saturday , 31st October 2015

Serenus Biotherapeutics Opens East African Regional Office in Nairobi, Kenya

Serenus Biotherapeutics, which is bridging the divide between the world’s leading healthcare markets and the growing demand for access to innovative drugs and devices in the emerging nations of Africa, has announced the opening of an East African regional office in Nairobi, Kenya. A Kenyan base of operations reflects the importance of this region which represents the largest and most advanced economy in East and Central Africa. It is.... Read more »

Posted on : Saturday , 31st October 2015

Merck and UNESCO to collaborate on building research capacity in Africa

Merck has launched a partnership with United Nations Educational, Scientific and Cultural Organisation (UNESCO), resulting in the first edition of the UNESCO-Merck Africa Research Summit, to be held in Geneva, Switzerland. The summit aims to address the vital role of scientific research in the improvement and sustainable development of the African population health, with specific emphasis on how to translate knowledge into action. The.... Read more »

Posted on : Saturday , 31st October 2015

AfDB gives Zambia US$30mn to support cassava producers

The African Development Bank (AfDB) has approved a loan of US$30mn to the government of Zambia for the Skills Development and Entrepreneurship Project The project is designed to promote job creation, gender equality and poverty reduction amongst young cassava producers in the country. To be implemented in seven provinces, the project will develop 10 industrial clusters, five of which will be urban and the other five rural. “The project.... Read more »

Posted on : Saturday , 31st October 2015

US$12mn grant for maize production in sub-Saharan Africa

The International Institute of Tropical Agriculture (IITA) has received a US$12mn grant to boost maize production in Nigeria, Ethiopia and Tanzania in the next four years IITA has received the money in collaboration with the Taking Maize Agronomy to Scale in Africa (TAMASA) project, and the grant has been given by the Bill and Melinda Gates Foundation. TAMASA was launched in May this year, and is expected to reach more than 600,000 households.... Read more »

Posted on : Saturday , 31st October 2015

IOC-Delonex Win Oil Block in Mozambique

State-owned Indian Oil Corp Ltd (IOC) has partner Delonex Energy, a new Africa-focused oil and gas explorer led by former Cairn India chief Rahul Dhir, to win its maiden oil block in Mozambique. IOC and Delonex were awarded onshore Block P5-A in southern Mozambique, a company executive said. The combine was declared winner alongside the consortium of Russia’s Rosneft and ExxonMobil that won rights for three offshore blocks. It was.... Read more »

Posted on : Saturday , 31st October 2015

ABCEC receives huge budgetary allocation in construction sector

Association of Building and Civil Engineering Contractors (ABCEC) has expressed optimism that the construction industry in Zambia is poised for expansion following the allocation US$1.4m towards infrastructure development in the 2016 budget. ABCEC president Michael Nyirenda said the proposed US$1.4m allocation towards infrastructure will boost infrastructure development and enhance economic growth. The ABCEC president.... Read more »

Posted on : Saturday , 31st October 2015

Kenya Power Net Profit Rises to Sh7.4 Billion

Kenya Power has posted a 6 per cent increment in net profit to Sh7.43 billion for the year ended June 30. Net earnings for the previous year stood at Sh6.99 billion. The utility's jump in profits was supported by increased electricity sales and a review of the electricity tariff that became effective at the start of December 2013. "Electricity sales grew by 5 per cent from 6,790 million units the previous year to.... Read more »

Posted on : Friday , 30th October 2015

Zimbabwe: Tobacco Exports Hit U.S $500 Million Mark

The country has so far exported 97,3 million kilogrammes of tobacco this year, up from 88,7 million kg over the same period last year, earning $500 million, statistics from the industry regulator show. In its latest bulletin, Tobacco Industry and Marketing Board (TIMB) said Zimbabwe had exported 97,3 million kg of tobacco at an average price of $5,13 per kg compared to 88,7 million kg worth $471 million at $5,31 per kg last.... Read more »

Posted on : Friday , 30th October 2015

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