Market News Page No. 454| Africa Business News | Afrotrade

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CHINA FUNDED MOMBASA-NAIROBI RAILWAY TO BE EXTENDED

China recently endorsed a new deal with the Kenyan government to extend the Mombasa-Nairobi Standard Gauge Railway (SGR) line to Naivasha. This was a follow-up to the $13.8 billion project that started in January, which is aimed at easing and increasing transport capacity in Kenya vis-a-vis other East African countries. It will also aid interconnection and regional integration, the outcome of which will be economic development for Kenya and.... Read more »

Posted on : Thursday , 24th September 2015

Major cement plant in Kenya to be constructed

Cemtech Limited is set to commence in January the construction of a US$ 95m cement plant in Kenya in West Pokot County. The feasibility study for the project which was commissioned in 2010 by the Kerio Valley Development Authority (KVDA) shows that the area has large limestone deposits with the possibility of producing 1.2 million tons of cement annually. Cemtech’s General Manager, Diptish Nandha confirmed the news and said that they.... Read more »

Posted on : Thursday , 24th September 2015

UNDERWRITING AFRICA LAUNCHES IN NAIROBI WITH PRODUCTS TARGETING UPSTREAM SECTOR

East Africa has its first boutique Insurance Intermediary Company set up to provide niche and specialist insurance solutions to oil and gas exploration firms and their contractors. Underwriting Africa whose headquarters are based in Nairobi has among its Reinsurance Partners Swiss Re with other brokerage partners in London and Paris. On the oil and gas front the company will fill a gap that has been void in the local space allowing the.... Read more »

Posted on : Thursday , 24th September 2015

Kenya: Nairobi County Govt to Spend Sh953 Million to Rehabilitate Roads

The Nairobi County government will spend Sh953 million on rehabilitating city roads. Governor Evans Kidero said repair of roads was the next project after the rehabilitation of street lights in the county government's Nairobi Integrated Urban Development Master Plan. Dr Kidero said the street lights project had seen crime levels drop from 1,200 incidents per month to 300. He, however, said the project has been facing challenges due to.... Read more »

Posted on : Thursday , 24th September 2015

Africa's licenses US$250mn worth solar power projects

Five solar power projects, valued at a total of US$250mn, have been licensed by the Zimbabwe Energy Regulatory Authority (ZERA) Solar Panels Lance Cheung FlickrThe five solar power projects are expected to generate about 160MW of power together. Taken together, the five projects are expected to produce 160MW of power. According to ZERA CEO, Gloria Magombo, the licensed projects are at different stages in the project development.... Read more »

Posted on : Wednesday , 23rd September 2015

Africa's Obuasi gold mine to be redeveloped

USA-based Randgold Resources Limited and South Africa’s AngloGold Ashanti Limited have have decided to form a joint venture to redevelop and operate AngloGold Ashanti’s Obuasi gold mine in Ghana goldmining Calistemon wcThe Obuasi gold mine will be enabled with ramp access for better transportation of materials and workers. The two companies signed an investment agreement to forge a JV that would operate the Ghanaian.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya among 12 African states to benefit from ,technology initiative

Kenya is among 12 countries set to benefit from a new initiative that is aimed at strengthening science, technology and innovation in Africa. The Science and Granting Councils Initiative in Sub-Saharan Africa will offer opportunity to member states to boost their science systems to support national and regional development. Although many African countries still face major hurdles in funding research, the Government expressed its commitment in.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya to host Sh23bn machinery plant

The manufacturing sector will benefit from Sh23 billion boost after a Kenyan firm Bico partnered with German machinery maker Liebherr Group to establish an assembly plant in Nairobi. Speaking in Kilifi, Bico-Liebherr founder Andrew Malunga Buraje said they are finalising the necessary investment documentation before the plant is put up in Nairobi towards the end of this year. "We have put pen to paper and partnered with Liebherr Limited who.... Read more »

Posted on : Wednesday , 23rd September 2015

Clover Mulls Building South Africa's First Dairy Mega-Factory

Clover Industries Ltd. is considering building South Africa’s first dairy mega-factory to boost exports to the rest of the continent from a country that consumes about 98 percent of the milk it produces, potentially countering the need for future volume and price cuts. The proposed plant will be built near Estcourt in the eastern KwaZulu-Natal province for 890 million rand ($67 million) and will produce dairy products including milk.... Read more »

Posted on : Wednesday , 23rd September 2015

South Africa wine body pairs Nigeria with red, Angola with fizz

South African wine producers are trying to cater for Angolans’ thirst for sparkling wine and Nigerian demand for bottles of red to penetrate the African market, according to the country’s leading trade body for the industry. Wine producers aim to more than double annual sales growth to 5 percent in Nigeria, boosting profits from Africa’s largest economy, Matome Mbatha, of Wines of South Africa, or WOSA, said in an interview.... Read more »

Posted on : Wednesday , 23rd September 2015

Ugandan millionaire Ashish Thakkar's Mara Group raising $100M to launch pan-African e-commerce platform

Dubai-based Mara Group is launching an Africa-wide online marketplace that it hopes will become the leading e-commerce business in Africa within less than four years. Ashish Thakkar, Founder of Mara Group and the executive chairman of the new venture, describes it as “a marketplace for global brands to plug into to sell locally in Africa, and for local brands to sell nationally, regionally and globally.” Called Mara Sokoni, the.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya imports milk from Uganda to meet shortfall

It is now emerging that Kenya imports milk from Uganda to meet its shortfall. Statistics show that Kenya bought milk worth Sh520 million from Uganda last year. On its part, Kenya sold dairy products valued at Sh290 million to Uganda during the period. The milk imported by Kenyan firms is mainly in powder form and is meant to safeguard the processors’ market share during the dry season when local supplies are low. Data from the East and.... Read more »

Posted on : Wednesday , 23rd September 2015

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