Market News Page No. 436| Africa Business News | Afrotrade

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Hilton Hawassa Resort and Spa in Ethiopia to be constructed by 2020

Hilton Hawassa Resort and Spa in Ethiopia is set to join a portfolio of more than 70 Hilton Worldwide properties in Africa with its construction stated for 2020 in Ethiopia. An agreement which was signed by Sunshine Business PLC and Hilton Worldwide has brought the Hawassa project to birth. Senior Vice President of Development, Europe and Africa for Hilton Worldwide, Patrick Fizigibbon, confirmed the news and said that with.... Read more »

Posted on : Friday , 2nd October 2015

New ports in Tanzania to be constructed

Tenders for consultancy services and engineering designs for the development of several ports in Tanzania have been advertised by the Tanzania Ports Authority (TPA). The tender entails a request for interest in consultancy services for feasibility studies and preliminary engineering designs for development of new ports at Kilwa, Lindi and Rushungi, plus a transshipment hub along the Indian Ocean coast. The ports in Tanzania will boost easy.... Read more »

Posted on : Friday , 2nd October 2015

Appolonia and Eban Properties to develop homes on 20 hectares of land at the landmark satellite city project

The 2-3 bedroom houses to be constructed by Eban Properties will have prices ranging from $75,000 to $100,000. Show houses will be completed by December 2015. The residential development, called The Oxford, is the second to be announced by the project developers this year. In March, Appolonia launched its 24-hectare Nova Ridge residential enclave, allowing homebuyers to design and build their own homes on a range of plot.... Read more »

Posted on : Friday , 2nd October 2015

EMERGING CAPITAL PARTNERS INVESTS IN TWO NORTH AFRICAN CONSTRUCTION COMPANIES

Emerging Capital Partners (ECP), an international private equity firm focused on investing across the African continent, announced today that it has acquired controlling stakes in two North African construction sector businesses. The equity investments in Shoresal and Almes, totaling USD $26.2 million, are part of ECP’s strategy to expand its North Africa portfolio. “ECP has invested in various African engineering and construction.... Read more »

Posted on : Friday , 2nd October 2015

FAR gets farm-in option for Senegal offshore block

FAR Limited (FAR) has entered into a farm-in option agreement with a subsidiary of Trace Atlantic Oil (Trace) for the Djiffere block offshore Senegal. Under the agreement with Trace, FAR has the option to earn a 75 per cent working interest in the Djiffere block by drilling an exploration well before 31 July 2018, subject to regulatory approvals. The farm-in option can be exercised by FAR at any time before 31 October 2016, by which time.... Read more »

Posted on : Friday , 2nd October 2015

Ford's sub-Saharan drive may benefit African plants

As Ford's only manufacturing operation in the Middle East and Africa‚ Ford Southern Africa is in pole position to benefit from the group's decision to intensify marketing and production in sub-Saharan Africa‚ says Stephen Odell‚ president of Ford's European‚ Middle East and African operations. Ford has the capacity to increase it production in South Africa, particularly of the Ranger model. Ford has the capacity to.... Read more »

Posted on : Friday , 2nd October 2015

Timber firm plans to construct biomass power plant in Africa

Timber firm- York Timbers, has announced plans to construct an electrical biomass power plant in South Africa at its timber plant worth US $0.10bn. This new power plant by the firm will deliver 25MW into the South African National grid thus giving the company some energy income from what would otherwise be discarded as biomass waste production from its six timber plants. According to the CEO of York Timber, Pieter.... Read more »

Posted on : Friday , 2nd October 2015

Plans to construct Chollet Hydropower Dam in Africa gain pace

The construction of Chollet Hydropower Dam in Cameroon has received a new breath after the signing of a major agreement. Minister of Water Resources and Energy, Basile Atangana Kouna and the Minister of Energy and Hydraulics of the Republic of Congo, Henri Ossebi have signed agreements to speed up the project. According to the minister the project which is expected to boost the power production of the country will be carried out and the.... Read more »

Posted on : Friday , 2nd October 2015

Chinese investors eye East Africa's real estate, manufacturing sectors

Umutoni said the investors representing over 50 Chinese firms have already met with their Rwandan counterparts and pledged to leverage on the country’s good investment climate to scaleup investments in these sectors. “They said they would take full advantage of the business reforms and new investment code which was recently unveiled by RDB to inject more money into these sectors,” she said. Han Jun, the.... Read more »

Posted on : Thursday , 1st October 2015

Kenya sees 20 firms investing Sh8b after US trade pact extended

Umutoni said the investors representing over 50 Chinese firms have already met with their Rwandan counterparts and pledged to leverage on the country’s good investment climate to scaleup investments in these sectors. “They said they would take full advantage of the business reforms and new investment code which was recently unveiled by RDB to inject more money into these sectors,” she said. Han Jun, the.... Read more »

Posted on : Thursday , 1st October 2015

Kenya takes a step towards industrialization: welcomes foreign investors

The investors, who are already in Nairobi to attend an international conference, have expressed interest in investing in green energy, one of the fastest growing energy sub-sectors in Africa. State House Sunday announced Kenya was expecting a host of government and business leaders from across the world. By end of this week, Italian Prime Minister Matteo Renzi will make his maiden visit to the country. Although this visit.... Read more »

Posted on : Thursday , 1st October 2015

Sierra Cables to open cable manufacturing unit in Kenya

Sri Lanka’s Sierra Cables has decided to open a cable manufacturing company in Kenya to promote power generation projects in East Africa powercable AndreRobertoDoretoSantos flickrThe East African region has potential for cable manufacturers to enhance their business interests. A feasibility study was conducted, following which the company decided to set up a unit in Nairobi. “The feasibility study has indicated.... Read more »

Posted on : Thursday , 1st October 2015

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