Market News Page No. 521| Africa Business News | Afrotrade

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INDIAN EXPORTERS -NEW STRATEGY TO TAP THE EAST AFRICAN MARKET

It is high time Indian exporters and investors turned their attention to the five countries in the East African Community, which is surging ahead with reforms and has become the second fastest economic bloc in the world The realisation of a large regional economic bloc with a combined population of more than 141.1 million people, land area of 1.82 million sq.km and a combined Gross Domestic Product of $99.8 billion, bears great strategic.... Read more »

Posted on : Monday , 29th December 2014

Africa To Be A Major Market To Help Achieve the 2 Billion Target

The company aims to add 1 billion new customers by 2020, so as to double its existing user base. The majority of the growth is expected to come from emerging nations like Asia, Africa, and Latin America. We believe Africa will play a pivotal role in L’Oreal’s expansion plan. The Middle East and Africa segment is the fastest growing geographical segment for L’Oreal (approximately 15% year on year). In 2013,.... Read more »

Posted on : Monday , 29th December 2014

DUBAI'S COMPANY BUYING $300 MLN STAKE IN AFRICAN INDUSTRY

Investment Corp of Dubai has agreed to buy a 300 million dollar stake in Dangote Cement. The state fund, Investment Corp of Dubai (ICD), which holds stakes in some of the emirate's top firms, has agreed to buy the stake in top Nigerian cement producer, a spokesman for Dangote said on Monday. Carl Franklin, Dangote's head of investor relations, did not give further details. Dangote's current market capitalisation is about 23.7 billion US.... Read more »

Posted on : Monday , 29th December 2014

East Africa speeds up energy projects

East African governments have doubled their efforts to increase energy output, with several multi-million dollar projects on the cards. The aim is to meet rising demand as well as attract more investments, after the 2014 World Bank Ease of Doing Business report noted that low energy output remains a hurdle for investors. In the past two months, Rwanda, Tanzania and Kenya have announced a number of power upgrade projects. Rwanda recently.... Read more »

Posted on : Monday , 29th December 2014

Kenya: Africa s largest wind power project achieves full financial close

Following the financial close of Lake Turkana Wind Power Project (LTWP), the first disbursement of funds pursuant to the financing agreements signed in March 2014 has been received. The Sh70 billion project is the largest single wind power project to be constructed in Africa and is to date, the largest private investment in the history of Kenya and the most complex and challenging project financing undertaken in the renewable energy space in.... Read more »

Posted on : Monday , 29th December 2014

NEW SOLAR POWER PLANT TO COME UP IN UGANDA

Uganda announced that our foreign and domestic firms would build two solar power plants, with a total capacity of 20 megawatts (MW) as it seeks to develop its renewable energy potential. Keen on expanding its capacity to support an industrialization drive, the east African country is currently pursuing several multi-billion-dollar projects. Officials previously said the government was also looking for investors to develop solar energy and.... Read more »

Posted on : Monday , 29th December 2014

SolarCity invests US$16 million for off-grid solar power plant in Africa

US installer SolarCity is among the investors in a US$16 million funding round closed this week by Off Grid Electric, a company offering pre-paid solar systems in Africa. Apart from SolarCity, infrastructure fund manager, Zouk Capital and Vulcan Capital, the private investment firm of Microsoft co-Founder Paul Allen, led this second round of investment funding for Off Grid Electric. The first round last year, raised US$7 million..... Read more »

Posted on : Monday , 29th December 2014

AFRICA STRENGTHENS TIES WITH CHINA

Africa’s Transnet and Chinese manufacturer CSR Zhuzhou Electric Locomotive (CSR) signed a Memorandum of Understanding (MoU). This was part of South African president Jacob Zuma’s state visit to assist trade between the two countries. “Today’s MoU paves the way for Transnet to conclude agreements with CSR to set up manufacturing facilities in South Africa to exploit opportunities for the production and maintenance.... Read more »

Posted on : Saturday , 27th December 2014

Multinationals Manufacturing Companies attracted to Africa

According to Ernst and Young 2014 Africa attractiveness survey, Kenya ranks third after Nigeria and South Africa as the most attractive in the region. The three are said to attract 40 per cent of the total foreign direct investments in the region. Fernando de Sousa General Manager Africa Initiatives at Microsoft join CNBC Africa to discuss why multinationals are attracted to these major hubs..... Read more »

Posted on : Saturday , 27th December 2014

Xinhai Mining Machinery bags order worth 10 Million USD in Tanzania

In September 2nd, Yantai Xinhai Mining Machinery Co., Ltd. and a Tanzania state-owned mine reached cooperative intent, and signed the contract -----"EPCM Mines Service" in Dar Es Salaam the capital of Tanzania. The cooperation ranged over four fields, exploration, mining, ore dressing and smelting. The EPCM service covered the process design, engineering design, equipment manufacturing, construction, equipment installation and.... Read more »

Posted on : Friday , 26th December 2014

Tanzania: Logistics Firm to Boost Dar Port Efficiency

Trade Mark East Africa (TMEA) has come up in support for the big result now (BRN) to increase Dar es Salaam Port efficiency in the next three years. TMEA has set aside over 60 million US dollars (102bn/-) to increase efficiency that would see, among other things, reduction by almost half from nine to four days of container dwelling time. TMEA Tanzania Country Director, Dr Josaphat Kweka, said they were working hand in hand with the government.... Read more »

Posted on : Friday , 26th December 2014

11 of Africa s biggest startup investments

Money makes the world go round. And if you play your cards right, might just make your startup successful — putting a smile on shareholders faces. In 2014, we saw a lot of money being moved around in South Africa’s startup scene. So much so that we’ve decided to round up some of the investment rounds that really stood out to Ventureburn. From real estate, crowdsourced designs to a multi-million financial aid startup,.... Read more »

Posted on : Friday , 26th December 2014

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