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

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Ford to begin assembly of Ranger pickup trucks in Nigeria

Ford Motor Company has announced that it will begin assembly of the Ford Ranger pickup truck in Nigeria from Q4 2015 as part of its expansion plans for the Middle East and Africa The pickup will be assembled in Ikeja, situated in Lagos State. For the project, Ford is partnering with its dealer group Coscharis Motors, stated the company. Ford Middle East and Africa president Jim Benintende said, “Assembling Ford Ranger trucks in.... Read more »

Posted on : Friday , 21st August 2015

SkyPower commences construction of solar power plants in Kenya

Construction of solar power planta in Kenya will soon commence after an agreement was signed by SkyPower that will see the development of 1GW in four phases over the next five years. The SkyPower president and CEO, Kerry Adlr said that Kenya has become an African hub for modernization and entrepreneurship. This fact saw SkyPower sign a $2.2bn investment for Kenya to develop the project. It was announced on the sidelines of the.... Read more »

Posted on : Thursday , 20th August 2015

Construction of Akiira geothermal plant in Kenya boosts Kenya Power

The construction of Akiira Geothermal plant in Kenya has boosted power supply in Kenya after the firm signed a 70MW power deal with Kenya Power that will boost the chances of attaining the 5,000MW goal set by the Kenyan Government. The 70megawatt power purchase agreement (PPA) between the two companies will last for 25 years and will see Kenya Power buy electricity from Akiira at Sh9.3 per unit (9.23 US cents), which is about.... Read more »

Posted on : Thursday , 20th August 2015

Construction of first cancer hospital in Kenya begins

The construction of first cancer hospital in Kenya is set to begin following a groundbreaking ceremony by the first lady, Mrs. Margaret Kenyatta. The hospital is a partnership between local entrepreneurs and General Electric Company. The construction of the state-of-the-art treatment centre at Ridgeways in Kiambu County will cost US$ 20m and will cater for close to 10,000 cancer patients. Dabbed Tesla Cancer Hospital, the.... Read more »

Posted on : Wednesday , 19th August 2015

Muzizi hydro-power to be constructed in Uganda

The Ugandan and two companies from Germany and France has signed a US$ 76m agreement that will see the construction of the Muzizi hydro-power project come to birth and help in providing power to more than 60,000 homes. Germany Development Bank (KfW) and the French Development Agency are the two other companies that are financing the construction of Muzizi hydro-power project. Under the mutual reliance initiative, KfW will.... Read more »

Posted on : Wednesday , 19th August 2015

Construction of nuclear plant in Ghana to wait for presidential nod

The construction of a nuclear plant in Ghana depends on the Ghana Nuclear Regulatory Bill that is awaiting presidential assent. The Bill when fully operational will establish the Ghana Nuclear Regulatory Authority with clear functions and responsibilities and to provide for the beneficial and peaceful uses of nuclear energy. The Ghana Atomic Energy Commission (GAEC) did sign a Memorandum of Agreement with the State Atomic.... Read more »

Posted on : Wednesday , 19th August 2015

Construction of power projects in Tanzania set to start

Construction of power projects in Tanzania is set to begin after 4 companies in the country were announced beneficiaries of US president Barrack Obama’s Power Africa initiative. The companies will eventually help in the expansion of renewable energy solution which targets rural areas. The grants to construct the power projects in Tanzania which have been awarded by General Electric Africa in conjunction with the US African.... Read more »

Posted on : Wednesday , 19th August 2015

Wind power plant in Kenya to be constructed

Construction of a US$44M wind power plant in Kenya is set to begin in Meru county. The project is spearheaded by Maralal Energy Limited. Maralal Energy which is a privately-owned Kenyan firm disclosed that the money will be used to construct the wind farm whose electricity will be included in the national grid. Kenya Electricity Generating Company (KenGen) and Bluesea Energy are also currently undertaking projects that.... Read more »

Posted on : Wednesday , 19th August 2015

Africa agrees to raft of Chinese investment

Equatorial Guinea has secured a wave of Chinese investment, following a trade forum in Dalian The Equatorial Guinea-Asia Economic Forum was hosted in the Northeastern Chinese city by representatives of the West African nation’s Ministry of Mines, Industry and Energy, with the aim of showcasing the country’s investment opportunities. The Equatorial Guinean government has since announced the signing a series of memoranda of.... Read more »

Posted on : Tuesday , 18th August 2015

Construction industry in East Africa opens $50m complexes

Constructions industry in Rwanda is on an upward trajectory after the country’s president Paul Kagame opened complexes worth $50m in the capital Kigali. The president challenged contractors to ensure they provide durable and quality structures. Kagame congratulated local investors like Bertin Makuza whose 15-storey constructed building was inaugurated. In his speech, Makuza said that construction of his building cost $42.... Read more »

Posted on : Tuesday , 18th August 2015

Wind power plant in Kenya to be constructed

Construction of a US$44M wind power plant in Kenya is set to begin in Meru county. The project is spearheaded by Maralal Energy Limited. Maralal Energy which is a privately-owned Kenyan firm disclosed that the money will be used to construct the wind farm whose electricity will be included in the national grid. Kenya Electricity Generating Company (KenGen) and Bluesea Energy are also currently undertaking projects that.... Read more »

Posted on : Tuesday , 18th August 2015

Construction of power projects in Tanzania set to start

Construction of power projects in Tanzania is set to begin after 4 companies in the country were announced beneficiaries of US president Barrack Obama’s Power Africa initiative. The companies will eventually help in the expansion of renewable energy solution which targets rural areas. The grants to construct the power projects in Tanzania which have been awarded by General Electric Africa in conjunction with the US African.... Read more »

Posted on : Tuesday , 18th August 2015

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