Market News Page No. 423| Africa Business News | Afrotrade

Afrotrade - Foreign Products & Machinery Catalogue for African Buyers

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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

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 therefore.... Read more »

Posted on : Friday , 6th November 2015

Kenya: M-Pesa Registers Sh2.5 Trillion in Transactions at Safaricom's Half Year Results

Safaricom's money transfer service M-pesa transacted Sh2.5 trillion in the last six months. The firm's CEO Bob Collymore made the announcement during the half year financial results release at the Michael Joseph Center in Nairobi on Thursday. Collymore attributed the 24 per cent spike in revenue from M-pesa to an increase of customers using the platform. "We added 3.25 million users and now have 22 million people.... Read more »

Posted on : Friday , 6th November 2015

Tanzania: Panasonic Banks On New Smart Devices

Panasonic Corporation is betting on 12 of its new smart gadgets to drive its sales in the Middle East and Africa Region. The gadgets have been deliberately designed to improve the way Panasonic's business partners conduct their daily undertakings, the Panasonic Marketing Middle East and Africa (PMMAF) Managing Director, Mr Shinichi Wakita, said at the just ended- Gulf Information Technology Exhibition (Gitex) in Dubai. The.... Read more »

Posted on : Friday , 6th November 2015

Africa Growth, UK Business Boost Old Mutual Sales

Old Mutual [JSE:OML] on Wednesday posted strong third quarter results with gross sales up 31% to R172.53bn. Investors initially cheered the news, sending the share price up over 3% to reach a new record high of R47.15. However, by 16:30 the shares were changing hands up only 0.57% at R45.89 from the previous close. Old Mutual Emerging Markets delivered a strong performance, despite weaker economic conditions in South Africa,.... Read more »

Posted on : Friday , 6th November 2015

Olam's Investment in Production of Rice in Nigeria

Olam is one of the multinational companies involved in the production of rice in Nigeria. With a farm situated in Rukubi village in Doma Local Government of Nasarawa State, it is currently cultivating 4,000 hectares of rice. The total hectare according to the farm officials is 10,000. Mahesh Nimje, who led a team from the farm to the recent Daily Trust Agric Conference in Abuja said the farm is expanding.... Read more »

Posted on : Friday , 6th November 2015

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