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

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EAST AFRICAN COUNTRIES SET TO BE THE FASTEST GROWING COUNTRIES IN THE WORLD

East Africa is head and shoulders above the rest of Africa in meeting the Millennium Development Goals (MDG). The Gates Foundation has released a report compiled by the Overseas Development Institute, titled: “One foot on the ground, one foot in the air” tracking Ethiopia’s development despite having the lowest human development in the 1990s. In the wake of massive agricultural investment, a sector which.... Read more »

Posted on : Monday , 23rd November 2015

East Africa businesses get help to tap American market

Major plans are underway to boost the capacity of micro, small and medium-sized enterprise players to enable them leverage on the African Growth and Opportunities Act (Agoa) through exports to the US market. Experts say that despite the recent Agoa Extension and Enhancement Act of 2015, giving Kenya the opportunity to increase its trade volumes with the US, the country has failed to reach its potential. In 2013, Kenya.... Read more »

Posted on : Monday , 23rd November 2015

Isuzu to roll out light trucks in Africa by Q2 2016

Isuzu’s Nigerian dealer Koncept Autocentre Limited has stated that it will commence the assembly of Isuzu vehicles from Q2 2016 Isuzu has finalised the vehicles that will be produced at the Nigeria plant. Koncept Autocentre director Victor Eborajolo said that the new assembly plant, which is located at the firm’s premises in Lagos, is undergoing rapid development and currently in the final stages of completing assembly.... Read more »

Posted on : Saturday , 21st November 2015

Kenya to allow foreign firms to retain full ownership

Kenya plans to reform its company law in order to allow foreign firms to establish local branches that can own 100 percent, a senior official said on Monday. Cabinet Secretary for Industrialization and Enterprise Development Adan Mohamed said during a business forum in Nairobi that Kenya recognizes the role that foreign capital plays in the economic development of the country and will create better environment for foreign.... Read more »

Posted on : Saturday , 21st November 2015

East Africa to Open 27 Automotive Industrial Zones

The Bishoftu Automotive Industry announced that it is planning to build new 27 automotive engineering zones throughout the country in the coming years. Bishoftu Automotive Industry General Manager Gebremedhin Zeselassie said that apart from its ongoing activities, the industry is planning to open 27 automotive engineering zones that will be assembling and manufacturing motorcycles, bicycle, light and heavy trucks and other.... Read more »

Posted on : Saturday , 21st November 2015

France boosts energy efficiency in East Africa

The French Development Agency (AFD) under the SUNREF programme has pledged to help in boosting energy efficiency in Uganda, the country’s Commissioner for Energy James Banabe has said. AFD which seeks to finance green projects, has earmarked $13 million to fund companies looking to implement energy efficiency in Uganda by financing equipment and measures. He said that approximately 64% of the electricity generated in Uganda is.... Read more »

Posted on : Saturday , 21st November 2015

Scatec Solar set to construct $600m solar projects in Africa

Leading global solar firm Scatec is now planning to invest over $600m for the construction of solar projects in Egypt over two years. The firm’s senior Vice President Terje Osmundsen said they are looking forward to building more solar projects in Egypt aimed at addressing the country’s power shortage. He added that as the sun is very stable from morning to evening, plenty of solar power can be generated in Egypt. These.... Read more »

Posted on : Saturday , 21st November 2015

Govt to ease issuance of construction permits in Kenya

A special committee involving construction regulators has been formed to help look into challenges surrounding issuance of construction permits in Kenya that have been dragging the country down in global business competitiveness. The committee will look into the nature of construction permits Kenya and related challenges. The team will then advise on whether the permits should be simplified or eliminated going forward, depending on.... Read more »

Posted on : Saturday , 21st November 2015

TTCL embarks on major network transformation

TANZANIA TELECOMMUNICATIONS COMPANY LIMITED (TTCL) HAS EMBARKED ON A MAJOR NETWORK TRANSFORMATION THAT WILL ALLOW CONVERGENCE OF MOBILE AND FIXED ACCESS OPERATIONS. The transformation, also geared to meet growing demand for bandwidth with high-quality and affordable services under the deal inked between TTCL and Alcatel-Lucent. According to TTCL, the three years frame agreement penciled in South Africa, will see Alcatel-Lucent’s IP and.... Read more »

Posted on : Friday , 20th November 2015

Tanzania: Solo Oil and Aminex reach Agreement to Farm out Ruvuma Petroleum Sharing Agreement to Bowleven

Solo Oil is pleased to announce that it has reached agreement with Aminex plc to farmout a 12.5% net working interest in the Ruvuma Petroleum Sharing Agreement in Tanzania to Aminex in a back-to back agreement which will see Bowleven plc, an AIM listed oil and gas company, join the Ruvuma PSA joint venture with a 50% net working interest. Solo will receive from Aminex a total consideration, in the form of a carried work program contribution.... Read more »

Posted on : Friday , 20th November 2015

Four industrial parks in East Africa to be contracted

Four industrial parks in Ethiopia will be constructed in the next two years that will cost US$ 2bn, a senior government official has confirmed. Trade and industry State Minister Tadesse Haile confirmed that the concerned people have finalized on the inspection of four more parks in the eastern town of Dire Dawa, Kombolcha and Mekelle in the country’s North, and Adama in the capital’s south waiting for the launch that.... Read more »

Posted on : Friday , 20th November 2015

Ugandan firm Pearl to construct dairy factory in Kenya

Ugandan firm Pearl Dairy Farms has announced plans to construct a dairy factory in Kenya that will be tasked with production and repackaging of milk products. The factory to be constructed in the capital Nairobi is aimed at growing Pearl’s market share in the region. Atul Chaturvedi, the CEO of Pearl confirmed the reports and said that the initial estimate of the investment in the planned factory stands at about US$.... Read more »

Posted on : Friday , 20th November 2015

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