Market News Page No. 523| Africa Business News | Afrotrade

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China sparks Investment in African steel industry

Growth in the steel industry worldwide has stabilised following substantial fluctuations during the recession, but a fair amount of uncertainty remains, particularly as a result of structural change in the Chinese economy, according to WorldSteel Association director-general Edwin Basson. The global steel industry produced 1.53-billion tons a year and recorded growth of 3.8% in 2013, with 2% growth expected in 2014. Basson told an.... Read more »

Posted on : Wednesday , 17th December 2014

Africa Manufacturing Industry set to grow over next decade

The government’s substantial infrastructure programme outlined in the National Development Plan is expected to drive demand for steel over the next decade, says Trade and Industry Deputy Minister Mzwandile Masina. He told over 250 delegates to the Organisation for Economic Cooperation and Development (OECD)/South AfricaWorkshop on Steelmaking Raw Materials, in Cape Town, that he expected steel demand, both upstream and downstream,.... Read more »

Posted on : Wednesday , 17th December 2014

Africa seen as increasingly big player in the steel industry

Given its large mining potential, African economies are expected to play an increasingly important role in producing raw materials for the production of steel. The Organisation for Economic Cooperation and Development (OECD) said it was expecting growth from South Africa, in particular, which accounted for 74% of Africa’s total production of iron-ore and 80.4% of its exports in iron-ore in 2012. Mozambique was also an.... Read more »

Posted on : Wednesday , 17th December 2014

Kenya: Sh605 Million for Bungoma Feeder Roads Project

The Bungoma county assembly has approved Sh605 million for rehabilitating roads in the county. The funds are for the second phase of roads improvement scheduled to start in January. Speaking in Bungoma town yesterday, Governor Kenneth Lusaka said the project targets mainly target feeder roads and roads within major towns that are in poor condition. Lusaka said the county government is in the process of purchasing.... Read more »

Posted on : Tuesday , 16th December 2014

German Solar/PV Business Delegation in Kenya and Tanzania

The Delegation of German Industry and Commerce Kenya organized the “Kenyan/ East African –German Conference on Solar PV”, held at the Southern Sun Mayfair on the 29th October. The Kenyan Ministry of Energy and Petroleum co-hosted this event. During the conference, information about current developments in the energy policy and the regulatory framework were given by the Ministry, ERC and REA. In addition, the.... Read more »

Posted on : Tuesday , 16th December 2014

East Africa: Indian Investment to Lead Trade Growth in East Africa

Increased trade between India and East Africa will be driven by private sector-led development, supported by investment from Indian businesses, said participants at a recent workshop organized as part of a United Kingdom government-backed project on Supporting India's Trade Preferences for India (SITA), implemented by the International Trade Centre (ITC). Business leaders joined policymakers and representatives of international organizations.... Read more »

Posted on : Tuesday , 16th December 2014

Vestas Receives Big Order for Kenyan Wind Power Project

International wind energy leader Vestas Wind Systems has announced that it has received an order to provide wind turbines for the 310 MW Lake Turkana Wind Power project in Kenya, Africa — a project that Vestas claims will be the largest wind power project in Africa upon completion..... Read more »

Posted on : Tuesday , 16th December 2014

Africa: CTIL Bags manufacturing Endorsement

Coleman Technical Industries Limited (CTIL) has received the Standards Organisation of Nigeria's (SON's) endorsement to produce high quality voltage cables in the country.\ Director General, SON, Dr. Joseph Odumodu said the endorsement is coming on the heels of the agency's commitment to drive industrialisation in the nation through standardisation. Odumodu during a courtesy visit to CTIL, added that the investment also indicates the.... Read more »

Posted on : Tuesday , 16th December 2014

East Africa: Manufacturing Company to launch in forth coming months

Medtech Ceramics Manufacturing Plc (MCM), a ceramic and sanitary ware manufacturer, is expecting the delivery of two ceramic manufacturing machines in three months, for the factory which could begin operation in 10 months. MCM was established jointly by Medtech Ethiopia Plc and Sheikh Faisal bin Al Qasimi, chairman of Julphar Gulf Pharmaceutical Industries, and Star Group Holdings. The Company, established six months ago with a capital of.... Read more »

Posted on : Tuesday , 16th December 2014

Tanzania: Over 17 Billion Set Aside for new Investment Venture

SOME 10 million US dollars (17.22bn/-) has been closed in escrow and up to 3,642,857 common share purchase warrants for an institutional lender that will provide money to develop Buckreef gold mine project jointly owned by Tanzanian Royalty Exploration Corporation (TRX) and State Mining Corporation (Stamico). In a statement issued, TRX Chief Executive Officer, James Sinclair said the facility may be increased to 15 million US dollars.... Read more »

Posted on : Tuesday , 16th December 2014

CAMAC Energy to Acquire 3D Seismic Offshore Gambia

CAMAC Energy has announced that its wholly owned subsidiary, CAMAC Energy Gambia Ltd has awarded a contract for the acquisition of a 3D seismic survey to Polarcus Limited covering approximately 1,504 km2 in the Company’s A2 and A5 blocks offshore Gambia. CAMAC says that the objectives of the seismic survey are to enhance the definition and maturation of potential prospects in the blocks and provide high-quality sub-surface images.... Read more »

Posted on : Tuesday , 16th December 2014

More US firms now seeking to venture in Kenya s infrastructure and energy

A delegation of 10 US companies have last week met local investors in a bid to build investment networks in energy, infrastructure and agribusiness. The delegation of 15 representatives from the companies was led by Corporate Council for Africa, an American-based business lobby firm. The Corporate Council for Africa President Mr. Stephen Hayes was quoted as saying that Kenya is one of the ideal investment places because it is part of the Power.... Read more »

Posted on : Monday , 15th December 2014

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