Market News Page No. 434| Africa Business News | Afrotrade

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Industry Trend Analysis - East Africa's Automotive Investment

Having unveiled its newly developed hybrid electric sedan, the Kiira EV SMACK, Kiira Motors Corporation (KMC) is currently seeking to raise USD350mn worth of investment to establish a new vehicle assembly plant in Jinja Industrial and Business Park in Uganda. If the necessary investment funds can be secured, the automaker has stated that production will begin in mid-2018 with a planned capacity at the plant of 300 units per month (3,600.... Read more »

Posted on : Monday , 26th October 2015

U.S. Supports Trade and Investment in East Africa

U.S. Ambassador to Ethiopia Patricia M. Haslach joined President Mulatu Teshome at the Origin Africa presents: Africa Sourcing and Fashion Week trade expo to promote East African countries as sourcing and investment destinations for international buyers of apparel, textile, leather, and home decor. The United States Agency for International Development (USAID)-supported trade expo is a prime opportunity to raise the profile of East.... Read more »

Posted on : Monday , 26th October 2015

JKT, Polish firm to build tractor assembly plant in Tanzania

The signing held at National Service (JKT) Headquarters was witnessed by Prime Minister Mizengo Pinda and former Polish president Lech Walesa, who is also a Nobel Laureate. Premier Pinda said the deal was the outcome of his last year's visit to Poland where the east Europen country committed to provide 110 million US dollars for supply of tractors and cereal storage facilities. "Our visit to Poland was to seek.... Read more »

Posted on : Monday , 26th October 2015

East Africa: Banks to increase credit towards development of manufacturing sector

According to the Bank of Tanzania (BoT) monthly economic review, strong credit was extended to manufacturing, hotels and restaurants and transport and communication activities. During the month under review, credit extended to agriculture increased to 12.9 per cent compared to 6.0 per cent in July and 2.0 per cent in the corresponding period year before. Similarly the annual growth of bank's credit to the manufacturing.... Read more »

Posted on : Monday , 26th October 2015

Kenya: Planned Solar Plants to Yield 80 Megawatts

Construction of two solar power plants with a combined capacity of 80 megawatts is planned to start at the end of this year, according to Mr Joseph Njoroge, principal secretary in the Ministry of Energy and Petroleum. The two proposed projects -- Solienke and Cedata -- will be based in Eldoret, each with an output of 40 megawatts. Details of the cost of setting up the solar plants have not been disclosed. However, Mr Njoroge.... Read more »

Posted on : Saturday , 24th October 2015

Kenya: Before Renewable Power Plant Is Completed, Geothermal Overtakes Hydro in Kenya

Olkaria — In its quest to generate more reliable, climate-friendly electric energy, Kenya has become the first country in the world to make use of temporary geothermal wellheads, which are currently injecting an extra 56 megawatts into the national grid. According to engineers at the Kenya Electricity Generation Company (KenGen), it takes a number of years to construct a single geothermal power plant, because it has to be fed by.... Read more »

Posted on : Saturday , 24th October 2015

African Energy in Good Standing

Gaborone — The dual listed African Energy says it is in good financial standing following steps the company undertook to reduce expenditure such as structured divestments and staffing levels, executive salaries and corporate overheads. African Energy is listed in the Botswana Stock Exchange (BSE: AFR) and Australian Securities Exchange (ASX: AFR). The company states in its annual report released recently that it has acquired a.... Read more »

Posted on : Saturday , 24th October 2015

Nampower Invest in Bush to Electricity Power Generation

The use of encroacher biomass as a source of renewable energy has a large potential for the energy sector and the economy as Nampower prepares to generate electricity from invader bush. Electricity utility, Nampower will start with the feasibility phase as the finance strategy is yet to be confirmed. A 2012 pre-feasibility study found sufficient encroacher bush biomass to supply 10 plants of 20 MW each for about 189.... Read more »

Posted on : Saturday , 24th October 2015

Tanzania: Acacia Mining Swings to the Red in Third Quarter

Tanzania's largest gold miner announced it posted net loss in the third quarter compared with the same period a year ago due to lower output and higher costs. The gold mining company reported in its financial statement that it made a reported net loss of 13 million US dollars in the three months to September 30 compared with net profit of 28 million US dollars in the same quarter a year before. The loss reflected 20 per cent.... Read more »

Posted on : Saturday , 24th October 2015

Angola: Mining Centres Crucial for Industrialisation - Specialist

Luanda — The creation of the mining development centres as one of Government's options to diversify the economy, represents a basis for the industrialisation of the country. This was said by specialist José Cerqueira during an interview on the State-run daily paper "Jornal de Angola" published in its Thursday's edition. José Cerqueira stressed the importance of the mining centres saying that in the.... Read more »

Posted on : Saturday , 24th October 2015

Sudan keen for Indian investment in agriculture, gold mining

Agriculture, gold mining and petroleum are prime areas where Sudan wants India to invest in the coming years, Sudan's Ambassador to India Hassan E. El Talib said on Friday. "India-Africa relations have been historic. Over the years, Sudan has emerged as a major producer of gold. We want India to invest more in gold mining, apart from other areas such as agriculture and infrastructure, through which India-Sudan relations can reach new.... Read more »

Posted on : Saturday , 24th October 2015

Rwanda: Government Streamlines Mining Licence Process

Kenya's Java House has 36 coffee houses and restaurants and plans to open outlets across Africa in the next five years to capitalise on rising consumer spending, its chief executive said. Kevin Ashley, who founded Java's first outlet in Nairobi in 1999, said the company would open in Kigali, Dar es Salaam, Lagos, Accra and Lusaka. For now, the firm's only outlets beyond Kenya are in Uganda's capital Kampala. "We see in five years time.... Read more »

Posted on : Saturday , 24th October 2015

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