Market News Page No. 437| Africa Business News | Afrotrade

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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

Boost for EAC as construction of major road linking Kenya and Tanzania launched

East Africa integration has received a boost following plans to construct a major road linking Kenya and Tanzania. The road project that will be funded by African Development Bank, was launched by Kenyan President Uhuru Kenyatta and his Tanzanian counterpart Jakaya Kikwete. The road will link East Africa to the northern corridor. The road construction project which is intended to reduce the time taken for goods to be.... Read more »

Posted on : Tuesday , 6th October 2015

KENYA GOVERNMENT PROVIDES SWEETNER FOR SUGAR COMPANIES

Kenya has written off 39.7 billion shillings ($381 million) owed by state-owned sugar companies, aiming to ease their planned privatisations, President Uhuru Kenyatta said on Friday. The government in May approved the sale of the government's holdings in five sugar companies and said it expected to sell 75 percent stakes, in transactions to be completed in the following nine to 12 months. "My Government has had to take a hard decision.... Read more »

Posted on : Monday , 5th October 2015

HPCL Seeks Mozambique Gas for Gujarat LNG Terminal

Hindustan Petroleum Corp. Ltd (HPCL), the country’s third biggest oil refiner, is negotiating with its partners in the Mozambique gas field, operated by Anadarko Petroleum Corp., to bring natural gas to India for its upcoming liquefied natural gas (LNG) terminal in Gujarat. The deal will not only give HPCL access to gas, which is logistically cheaper to source, it will also give the company a cost advantage in its natural gas trading.... Read more »

Posted on : Monday , 5th October 2015

Sudan Signs Agreement with Russian Company on Gas Liquefaction

The Ministry of oil in Sudan signed a $70 million agreement on Sunday with Russia’s Gazohim Techno for liquefaction of gas produced at Neem field in the west of the country using a process known as gas-to-liquids (GTL). Under the agreement a plant will be constructed to liquefy gas with a capacity of processing 10 million cubic feet of gas per day and convert to petroleum products such as gasoline and diesel at an estimated rate of 100.... Read more »

Posted on : Monday , 5th October 2015

UAE-Based Firm to Raise East African Presence

“We are planning to spend about $25 million to $30 million in acquiring new terminals in East Africa,” Thangapandian Srinivasalu (left), the Executive Director of Gulf Petrochem said last week in Sharjah. Speaking to media in a series of interviews, Srinivasalu said their focus of growth will be the UAE, India and East Africa. “The next decade belongs to Africa and there are tremendous business opportunities in East.... Read more »

Posted on : Monday , 5th October 2015

Rising cement consumption signals growth in East Africa

East Africa is one of the world’s fastest-growing marketplaces for construction opportunities and building materials. Significant projects are under construction across East Africa, including Ethiopia’s $4 billion hydro-power dam on the Blue Nile River and Kenya’s Sh195 billion ($13 billion) railway that will link the Port of Mombasa to the Rwandan capital of Kigali via Uganda. In Rwanda, CIMERWA, the only cement company in.... Read more »

Posted on : Monday , 5th October 2015

Mega International airport to be constructed in East Africa

Plans are underway for the construction of a mega International airport in Ethiopia, the Ethiopian Airports Enterprise has announced. The Ethiopian Minister of Transport, Workneh Gebeyehu confirmed the reports and said that Ethiopia is to break the ground for a new mega hub airport in the vicinity of Addis Ababa. “The new mega hub will move the aviation industry in Ethiopia to a higher level. It will make.... Read more »

Posted on : Monday , 5th 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.... Read more »

Posted on : Monday , 5th October 2015

Construction work on Industrial Development zone in Africa in progress

Construction work is well on progress at the Saldanha Bay’s Industrial Development zone in South Africa a move aimed at positioning the Western Cape as a rig repair hub. According to Western Cape Minister for Economic opportunities, Alan Winde, servicing of oil and gas at saldanha is key for project Khulisa in order for the sector to grow. If they focus on upstream and midstream services such as rig repair then.... Read more »

Posted on : Monday , 5th October 2015

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

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