Market News Page No. 443| Africa Business News | Afrotrade

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KKR to invest $100 million in Africa within a year, make Nigeria regional base

U.S. private equity firm KKR & Co LP is considering investing around $100 million in Africa within a year, a senior executive said on Tuesday. KKR is looking at the agriculture and food business, the energy industry and infrastructure projects, Dominique Lafont, a senior advisor at KKR, told Reuters during a visit with a French business delegation to Nigeria. "We want to use Nigeria as regional base and springboard for West.... Read more »

Posted on : Thursday , 8th October 2015

ERC notes increased Electricity exports from Kenya

Electricity exports from Kenya to Uganda and Tanzania have significantly increased as of July this year, Energy Regulatory Commission in Kenya has noted. According to the regulator the move is due to the recent addition of geothermal power into the national grid. “The country has increased power sales and cut imports largely due to the additional geothermal energy to the grid,” said John Mutua, senior manager for.... Read more »

Posted on : Thursday , 8th October 2015

GB Allied Services and IGS Kenya partners to construct affordable houses in Rwanda

Construction of affordable houses in Rwanda is in top gear following the signing of a proposal of the same by UK based GB Allied Services and International Green Structures Kenya Limited (IGS Kenya). Earlier this month Director Ben Armani and Engineer Robert Mugisha from GB Allied Services (UK) Ltd.; visited and toured the IGStructures models in Nairobi and the IGS Manufacturing Facility Kenya (IGSM-K) in Thika, Kenya. The purpose of the.... Read more »

Posted on : Thursday , 8th October 2015

Mega housing construction project in Tanzania opened

National Housing Corporation (NHC) has launched a mega housing construction project in Tanzania. The construction project dabbed Morocco Square Towers in Kinondoni District, Dar es Salaam, has been taunted as the biggest housing project in East and Central Africa. The Morocco Square Towers was launched by Deputy Minister for Lands, Housing and Human Settlements Development, Ms Angela Kairuki. NHC Director General, Mr..... Read more »

Posted on : Thursday , 8th October 2015

Construction of 200 Houses in Cuvango Built At 10 Percent

Cuvango — The construction works of the 20 social houses, out of 200 residences, in Cuvango municipality, southern Huíla province, are concluded. Speaking to Angop, the municipal administrator, Miguel Luís said that it is under execution the installation of the technical networks, according to the urbanization patterns. He stressed that the execution of the project is only in this phase because the.... Read more »

Posted on : Wednesday , 7th October 2015

Mining - Australia Seeks Closer Ties With Nigeria

The Australian High Commission and Australia's Murdoch University have organized a policy workshop for experts in Nigeria's mining field, to foster growth and inclusiveness in the Nigerian mining sector. The workshop which reported on the research outcomes of Nigeria's mining sector by Murdoch University explored how the extractives sector could contribute positively to the nation's economic indices. In his remarks, Permanent.... Read more »

Posted on : Wednesday , 7th October 2015

Ethiopia: Gov't Plans to Garner U.S.$3 Billion From Mining Sector

At the end of the second Growth and Transformation Plan (GTP II) (2016-2020) the Ministry of Mines is planning to garner three billion dollars a year from mineral and gas exports. The leadership of the Ministry of Mines and employees of the ministry are deliberating on the second GTP at the ministry from October1-5. In the sideline of the meeting Minister Tolossa Shagi told The Reporter that the ministry anticipates to earn three.... Read more »

Posted on : Wednesday , 7th October 2015

Ethiopia: Tapping Minerals a Step for Economic Diversification

Many study researches indicate that Ethiopia is endowed with various natural resources which exist on the surface and beneath the ground. Its flora and fauna, with rich biodiversity, on the one hand and its minerals that abound underground and which remained unexplored for ages have an immense potential to elevate the status of the nation's economy. However,due to lack of knowledge,skill,capital and technology these wealth are under or not well.... Read more »

Posted on : Wednesday , 7th October 2015

Demand for Wood in Africa Could Triple by 2050

The demand for forest products and services in Africa is growing rapidly, fuelled by a growing population and an expanding economy. By 2050, domestic demand for industrial roundwood could double or even triple from the current annual level of 96.2 million m3 found a report released today by the United Nations Environment Programme (UNEP). Such pressure, coupled with the encroachment of other sectors on forests, could lead to unsustainable.... Read more »

Posted on : Wednesday , 7th October 2015

Aiport Authority plans to set up a multi-million shilling back up centre in Mombasa

The Kenya Airports Authority is putting in place plans for a million-shilling back centre in Mombasa . The facility which will be based at the Moi International airport will be completed within 24 weeks. The backup data centre will be used as a substitute for accommodating the ICT resources. The data centre will also be established as a precautionary measure in case of any outages. The data centre will still be connected to the firm’s.... Read more »

Posted on : Wednesday , 7th October 2015

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

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