Market News Page No. 430| Africa Business News | Afrotrade

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AfDB sets up a sh21 billion equity fund for renewable energy.

The development of renewable energy received a shot in the arm after the African Development Bank set up a 21 billion shillings equity fund. The fund will be geared towards small and medium hydro, wind, geothermal, solar and biomass projects in the Sub Saharan region.Other interested parties include the Global Environment Facility which has contributed 45 billion shillings, European Investment Bank and the Global Energy Efficiency and Renewable.... Read more »

Posted on : Wednesday , 7th October 2015

Garissa-Liboi Road Proposed to Link Kenya with Somalia

The government of Kenya recently announced they are seeking financing for a proposed road that would link Kenya with Somalia. The Kenya National Highways Authority (KeNHA) pronounced that designs had been completed for a proposed road connecting Garissa to Liboi, a Kenyan town just 12 km shy of the Somalia border. No tarmacked road currently exists connecting Garissa to Liboi, though dirt tracks and so-called panya routes or “rat.... Read more »

Posted on : Wednesday , 7th October 2015

Chinese agricultural companies bring new hope to Kenya maize farmers

Chinese well-known machinery manufacturer firstly launches and boosts new type hammer mill in Kenya market at the end of September, 2015 At the beginning the hammer mill has been widely used in the daily life. This type is the latest improved model. It is fine in workmanship, high quality of material inside out, high efficiency and stability in grain processing compared to others. The reason why we select Kenya Market is that the perfect.... Read more »

Posted on : Wednesday , 7th October 2015

Kenya to develop Solar hybrid technology

Solarcentury was first on site at the garden City Mall in Kenya in May 2014 and had the system operating in July 2015. The official launch of the solar hybrid system at the Garden City mall in Kenya took place in September 2015. “Solar is perfect for urban areas where land is at a premium yet energy needs to be supplied near to demand, and it integrates easily with the dense power networks. Installing the panels on the roof of.... Read more »

Posted on : Wednesday , 7th October 2015

Infrastructure construction in Africa to get boost from World Bank

Infrastructure construction in Egypt is set to improve as the World Bank head Jim Yong Kim expressed his support in various ongoing and upcoming projects. In a meeting with Egyptian president Abdel-Fattah El-Sisi over the weekend in New York the World Bank boss said Egypt has a great potential in terms of development and it deserves more support. According to the president in a statement they both agreed that the country need.... Read more »

Posted on : Wednesday , 7th October 2015

The East African Community is open to Industrialization

The East African Community is one of the most vibrant economic blocs on the African continent. With more than 150 million citizens, the five countries that make up the EAC, Rwanda, Kenya, Uganda, Burundi and Tanzania, are benefitting enormously from the integration brought about by the formation of the community. We have seen remarkable progress in achieving the objectives of the EAC – widening and deepening.... Read more »

Posted on : Wednesday , 7th October 2015

TPDC to Acquire 5% Stake in Kilwani North Development License in Tanzania

Aminex PLC disclosed Monday that the Tanzania Petroleum Development Corporation (TPDC) has notified the Company of its intention to acquire a 5 percent working interest in the Kiliwani North Development License (KNDL) and will become a full working interest partner going forward. Under the terms of the Nyuni East Songo-Songo Production Sharing Agreement which governs the KNDL, TPDC has the right to acquire a 5 percent interest and it is this.... Read more »

Posted on : Tuesday , 6th October 2015

VW Investing $343 Million in African Plant

German carmaker Volkswagen plans to spend 4.5 billion rand ($343 million) to upgrade its factory in South Africa and improve its supplier base, it said on Thursday. Most of the money would be used to revamp its factory in Uitenhage in Eastern Cape province to produce new models, Thomas Schaefer, head of Volkswagen's South African unit, said. VW has been pushing for greater scale under Chief Executive Martin Winterkorn's eight-year reign,.... Read more »

Posted on : Tuesday , 6th October 2015

Kenya Sets Pace As East Africa Vehicle Market Grows

Rising demand for commercial vehicles and luxury cars pushed new and used motor-vehicle registrations in Kenya to nearly 100,000 units last year, according to the Kenya National Bureau of Statistics. Reporting in the agency’s 2015 economic survey, director general Zachary Mwangi notes the 102,606 newly registered motor vehicles in the country in 2014 was up about 9.0% from 94,017 units in 2013. Both totals include.... Read more »

Posted on : Tuesday , 6th October 2015

Ford to build Rangers for the African Market

Ford Motor Co. said it plans to assemble its Ford Ranger pickup truck in Nigeria by the fourth quarter, as it expands in Africa and the Middle East. The Nigerian assembly plant, in partnership with Ford dealer Coscharis Motors Ltd., is the first outside South Africa, where Ford produces the Ranger for 148 markets, the automaker said in a statement today. "Nigeria is a priority market for us in sub-Saharan.... Read more »

Posted on : Tuesday , 6th October 2015

AfDB approves US$428.43m to fund construction of infrastructure in Africa

The African Development Bank Group (AfDB) has approved US$428.43m to finance construction of infrastructure in Africa including energy, transport and water and sanitation. The eight African countries to benefit from the financial boost include Nigeria, Ghana, Tanzania, Guinea, Senegal, Guinea Bissau, Zimbabwe and Côte d’Ivoire. The construction of a new terminal at the Kotoka International Airport in Accra is part of Ghana’s.... Read more »

Posted on : Tuesday , 6th October 2015

Sheraton announces plans to construct high-end hotel in Kenya

A high-end hotel in Kenya is set to be constructed by global hotel chain Starwood Hotels and Resorts Worldwide, the global hotel giant has announced. The hotel will be constructed at the Jomo Kenyatta International Airport. Sheraton Hotel in Kenya will target tourists and business people visiting Kenya and it is one among six other hotels planned by the global hospitality giant through its investment arm the Africa Hotel Investment.... Read more »

Posted on : Tuesday , 6th October 2015

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