Market News Page No. 470| Africa Business News | Afrotrade

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EAST AFRICA STILL NICHE MARKET FOR GARMENT MAKERS

Though East Africa’s garment manufacturing potential is hindered by poor infrastructure and cumbersome Customs processes, exports are expected to grow as Kenya, Ethiopia, Tanzania and Uganda attract more investment. According to consulting firm McKinsey, East Africa will remain a niche market for garment makers over the next decade but its success will depend on the existence of free trade agreements with the US and the European.... Read more »

Posted on : Saturday , 5th September 2015

KENYA TARGETS JAPANESE MARKETS

East Africa’s economic powerhouse Kenya is aiming to increase its influence in the Japanese markets, this is according to KenInvest’s Moses Ikiara. Estimates suggest that trade between Kenya and Japan was above 1.5 billion US dollars in 2014. Experts lament trade imbalance between the two economies. KenInvest’s managing director Moses Ikiara told CNBC Africa that the mooted direct flights between Japan and.... Read more »

Posted on : Saturday , 5th September 2015

DUBAI EXPORTS SHARPEN FOCUS ON FAST GROWING EAST AFRICA MARKETS

Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, is leading a trade mission to Kenya in a bid to further strengthen bilateral exchanges and connect more and more UAE businesses to the promising East African markets. The five-day mission will include conferences, business-to-business (B2B) meetings and site visits in the Kenyan cities of Nairobi and Mombasa. Political stability and.... Read more »

Posted on : Saturday , 5th September 2015

Germany commits 210 million USD to development in Tanzania

A German-Tanzanian development cooperation over the next three years will focus on strengthening the health system, improving water supply and sanitation, and protecting biodiversity and natural resources. This is the outcome of bilateral negotiations on development cooperation between the Governments of Germany and Tanzania which were concluded on August 13, 2015 in Dar es Salaam. Germany committed 177 million USD for cooperation.... Read more »

Posted on : Saturday , 5th September 2015

Construction of Mombasa to Nairobi pipeline complete by 2016

The construction of the 20 inch Nairobi to Mombasa in Kenya oil pipeline will be completed by end of December 2016, officials have said. Permanent Secretary in the Ministry of Energy and Petroleum Joseph Njoroge told Xinhua in Nairobi that the 485 million U.S. dollar pipeline will reduce the cost transporting fuel from the port of Mombasa to Nairobi by almost half. "Construction has already begun for the pipeline that will use.... Read more »

Posted on : Saturday , 5th September 2015

Plans for the construction of Kipevu oil terminal in Kenya on course

The first designs for the construction of the Kipevu oil terminal in Mombasa are on the final stages so as to pave way for the tendering process; this is according to the Kenya Ports Authority Managing Director, Gichiri Ndua. The Kipevu oil terminal which is supposed to be relocated is being overseen by Danish consultancy firm Niras. “We have engaged a consultant who is finalizing the construction designs in.... Read more »

Posted on : Saturday , 5th September 2015

Gas-fired power generation could add US$12bn to Africa's GDP

South Africa could tap into its natural gas reserves to expand its energy mix and support growth across the economy, recommended McKinsey Global Institute DualfreqGas-fired power plants could help make up for deficits in South Africa's power supply. (Image source: Dualfreq/WikimediaCommons) Gas-fired power generation alone could add US$12bn to South Africa’s GDP, estimated the McKinsey report titled South Africa’s Big Five:.... Read more »

Posted on : Saturday , 5th September 2015

Tanzania Portland Cement seeks to boost construction blocks

The Tanzania Portland Cement Ltd (TPCC) has embarked on conducting training for more than 1,000 block makers across the Lake Zone. The move is aimed at helping the block makers produce blocks according to standards requirements. Mr Simon Delens who is the Director of TPCC said the series of seminars will finally make it possible for block makers to make quality materials for the rising demand in the country’s construction.... Read more »

Posted on : Saturday , 5th September 2015

Tanzania to construct petrochemical complex in Mtwara

Plans for the construction of a petrochemical complex in Mtwara Region in Tanzania under the German company HELM AG are in top gear following the completion of the gas pipeline in the area. Mr Hassan Ahmed, HELM AG Country Representative says that the petrochemical complex in Mtwara will be constructed at Msangamkuu area and will be one of the largest petro chemical companies in Africa, which is expected to employ over 10,000.... Read more »

Posted on : Saturday , 5th September 2015

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

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