Market News Page No. 468| Africa Business News | Afrotrade

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N e w s

Chinese ready meals to be exported to Tanzania

Tanzania is one among three African countries that will get a taste of authentic ready foods prepared in China’s central province of Hunan. The province’s Changsha City, which undertook a number of reforms on food safety and international standards from 2008, will deliver tens of thousands of frozen ready meals to the continent. More than 80,000 dishes, worth USD101,000, have already been dispatched from Hunan.... Read more »

Posted on : Friday , 4th September 2015

Australia to focus on investment in Africa, rather than aid

Rather than focusing on economic aid to African nations, the Australian government’s focus would be on encouraging the private sector to invest in the region, specifically the mining region, Foreign Affairs Minister Julie Bishop said. Speaking on the last day of the Africa Downunder conference, Bishop noted that the Australian government had been working hard to strengthen trade and business investment partnerships with Africa..... Read more »

Posted on : Friday , 4th September 2015

Base starts the hunt for new assets

Perth – Mineral sands miner Base Resources was hunting for acquisition opportunities as it neared the completion of a production optimsiation programme at its $310-million Kwale mineral sands project, in Kenya. Speaking on the third day of the Africa Downunder conference, Base MD Tim Carstens said the company was making good progress in refinancing current debt obligations to better suit the current price environment. “We are.... Read more »

Posted on : Friday , 4th September 2015

IFC provides funding for maize production in Rwanda

Rwanda’s beverage firm Bralirwa has secured a US$25mn loan from the International Finance Corporation (IFC) for maize production. The money will be used for increasing maize production by local farmers who supply high-quality maize grits to the beverage company, an essential ingredient in its brewed products. Bralirwa buys maize grits from more than 5,000 local small-scale farmers. “Farmers will be supplied with modern seeds as.... Read more »

Posted on : Friday , 4th September 2015

East Africa emerges as a trade hub

East Africa is emerging as a trade hub to rival sub-Saharan Africa’s two heavyweight states of South Africa and Nigeria, according to analysis by Barclays published on Thursday. However the UK bank identifies five “sleeping giants” that present significant new opportunities for foreign companies; Ethiopia, the Democratic Republic of Congo, Mozambique, Tanzania and Ghana. This quintet which are “playing.... Read more »

Posted on : Friday , 4th September 2015

A Modern Engine Factory in East Africa to be constructed

The construction of a new mega modern engine factory in Ethiopia has commenced. The Ethiopian government is constructing a new engine factory that can manufacture different types of engines. The industrial unit is set to manufacture about twenty to thirty thousand different types of engines for tractors, cars, trucks, building industry machines and other small engines annually. The engine factory is under construction in.... Read more »

Posted on : Friday , 4th September 2015

Tender for the construction of the Kenya-Uganda pipeline to be announced

A tender for the construction of the US$ 4bn Kenya-Uganda pipeline that is expected to cover 1,500km is set to be announced before the end of this year. The construction project has been incorporated into the Lamu Port- South Sudan-Ethiopia Transport Corridor (Lapsset) infrastructure project. The Lapsset Corridor Development Authority (LCDA) confirmed the reports and said that the tender that will be inviting companies to.... Read more »

Posted on : Friday , 4th September 2015

PLANS FOR NEW KIPEVU OIL TERMINAL ON COURSE

PRELIMINARY designs on the planned relocation of the Kipevu oil terminal in Mombasa are being finalised to pave way for the tendering process, Kenya Ports Authority managing director Gichiri Ndua has said. Danish consultancy firm Niras is overseeing the relocation of the oil terminal, which will expand the country’s petroleum handling and storage capacity by almost 400 per cent. “We have engaged a consultant who is.... Read more »

Posted on : Friday , 4th September 2015

East African countries move to harmonize regional energy policy

As east Africa’s energy demands continue to raise, regional countries are looking to formulate a comprehensive policy on energy security and ease the conditions for investors in the sector. Speaking Monday at a meeting on policy framework in Kigali, Antonio Pedro the United Nations Economic Commission for Africa (UNECA), country director, said the absence of the policy has made countries lose out on opportunities and position themselves to.... Read more »

Posted on : Friday , 4th September 2015

Gepa Woo Turkish Investors

Ghana is actively exploring opportunities to woo investors and partners to develop and advance 'made in Ghana' products. In line with this, the Ghana Exports Promotion Authority (GEPA) and Ghanaian exhibitors at the ongoing 84th Izmir International Fair have held meetings with some Turkish potential business partners in the agricultural and transport industries. These companies are BKS Agricultural Machineries Automotive.... Read more »

Posted on : Friday , 4th September 2015

Sable to Raise an Output By 50 Percent

Zimbabwe's sole ammonium nitrate producer, Sable Chemical is targeting to raise annual production by 50 percent next year after securing a $24 million loan from the African Export and Import Bank, an official has said. The company is currently producing 8 500 tonnes per month, which translates to about 102 000 tonnes per year. But production is expected to progressively increase to 150 000 tonnes next year before reaching 200 000 tonnes a year.... Read more »

Posted on : Friday , 4th September 2015

Opal Miners Dig Their Way to Prosperity

Ethiopia's opal industry currently generates around 25 million USD a year. The Ethiopian highlands are often called "the roof of Africa". It's a rugged, breathtakingly beautiful landscape and a discovery in recent years has got precious gem experts around the world excited: opals. The government has supplied the miners with basic tools and says it wants to improve health and safety standards. Miners who have formed.... Read more »

Posted on : Friday , 4th September 2015

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