Market News Page No. 484| Africa Business News | Afrotrade

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Cost of importing used cars into the region set to increase by 5pc

The cost of importing used motor vehicles into East Africa will go up by five per cent from next month after EAC ministers adopted new car importation and valuation rules. The ministers agreed to enforce the new rules, including standardised depreciation rates with effect from July 1. In the new rules the depreciation rate for all motor vehicles imported to the region will range from 20-80 per cent (which is five per cent lower.... Read more »

Posted on : Tuesday , 14th July 2015

Big investors eying Kenya's energy sector meet Uhuru Kenyatta

Kenya is a model investment destination in Africa, founder and CEO of the Virgin Group Sir Richard Branson said Saturday. Sir Branson made the remark when he led a group of investors in talks with President Uhuru Kenyatta at his Harambee House office. The meeting explored how to make the most of Kenya’s abundant potential for green energy. Other investors in the delegation included Jacqueline Novogratz (founder and CEO,.... Read more »

Posted on : Tuesday , 14th July 2015

Scottish firm set to boost power generation in Africa

The African Energy Commission has concluded and issued a provisional license to Aggreko plc to boost power generation in Ghana by putting up a power generating plant at Esiama, in Ellembelle District. The power plant is expected to generate between 40-50MW of power for a start and later augment its power production to 100MW for the next successive years. The Scottish power producing firm has already signed a Gas Supply Agreement with the.... Read more »

Posted on : Tuesday , 14th July 2015

Savannah Cement in Kenya to improve infrastucture to new product launch

Savannah Cement which is the newest entrant into the cement market in Kenya is set to launch a special kind of cement technically known as Hydraulic Road Binder (HRB) to be used for stabilization of soils during road construction. This new technology came after a request from the Kenyan Ministry of Transport and Infrastructure. It has already been approved by the Kenya Bureau of Standards, which is a quality checking bureau of the.... Read more »

Posted on : Tuesday , 14th July 2015

El Sewedy Electric set to develop a 50 MW solar power project in Egypt

Egyptian based cable make company El Sewedy Electric is set to construct a 50 MW solar power project in Upper sides of Egypt after getting into agreement with the country’s Energy ministry. The solar power project in Eqypt which is expected to cost $75 million is expected to kick off at the end of this month and the El Sewedy was given the contract after winning the tender. The Egyptian Company for Solar Energy.... Read more »

Posted on : Monday , 13th July 2015

Africa Its Own Biggest Investor

African pension fund capital has reached $340 billion and is growing rapidly. In addition, increasing adoption of insurance around the continent is causing insurance company investment portfolios to grow, and they are now estimated to be around $270 billion. These figures come from the Bright Africa 2015 report, released today by RisCura, which looks at the drivers, enablers and managers of investment on the continent. Mr Rory Ord,.... Read more »

Posted on : Monday , 13th July 2015

Viewing Lake Turkana Wind Power through Vision 2030 lens

Construction of the Lake Turkana Wind Power project at Loiyangalani in Marsabit County, has kicked off with the inauguration by President Uhuru Kenyatta, last week. The project, expected to inject 310 megawatts of sustainable clean energy, is a private sector flagship project of Vision 2030 — our long term development blueprint that aims to turn Kenya into a newly industrialising, middle-income country with a high quality of life.... Read more »

Posted on : Monday , 13th July 2015

Kenya Power monopoly at risk as firm vies for last-mile customers

Kenya’s renewable energy sector is set for a boost in September when a solar microgrid company plans to become the country’s first licensed private utility to sell power to the public, ending a half-century monopoly by the State electricity firm. Earlier this year, the Government granted Powerhive East Africa, an energy technology venture with its roots in the United States, a permit to supply electricity to rural.... Read more »

Posted on : Monday , 13th July 2015

Tanzania: Over 13.9bn/ - Issued for Building of Teachers Houses

As part of plans to improve the working conditions of teachers, the government has disbursed over 13.9bn/- between 2009 and 2013 for construction of their houses. This was revealed in the House by the Deputy Minister in the Prime Minister's Office (Regional Administration and Local Government ), Mr Kassim Majaliwa, when responding to a question posed by Mr Suleiman Nchambi Suleiman (CCM-Kishapu). Mr Suleiman had sought to know government.... Read more »

Posted on : Monday , 13th July 2015

Africa needs clean energy investment to get power to all - panel

African governments should aim to increase power generation 10-fold to give all their people access to electricity by 2030, an effort that would require a big increase in investment focused on renewable energy, a panel of high-profile figures said. Two in three Africans - around 621 million people - live without electricity, a situation worsening as the population grows, said an annual report from the 10-member Africa Progress.... Read more »

Posted on : Friday , 10th July 2015

CS Najib Balala: New mining law to be in place by September

NAIROBI: A new mining law, which will give the Government a 10 per cent stake in new projects and aims to spur growth of the sector, should be in place by September. Mining Cabinet Secretary Najib Balala said the Government was eager to put in place the “right framework” to ensure this is done. Kenya exports titanium, fluorspar and manganese and has reserves of coal, niobium and rare earths, but mining.... Read more »

Posted on : Friday , 10th July 2015

Netherlands to Invest in Africa's Economy

The head of the Dutch business delegation on a one-day visit to Africa, has told a Africa-Netherlands business dialogue that her investors have come to Africa to invest in the country's economy. Netherlands Foreign Trade and Development Cooperation Minister Lilianne Ploumen disclosed Monday, July 6, 2015, that the Dutch entrepreneurs on her delegation see a lot of opportunities in working with Africa. She stated that when.... Read more »

Posted on : Friday , 10th July 2015

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