N e w s

Boost investment in Africa's manufacturing Industry

 South Africa has approved guidelines for the new Medium and Heavy Commercial Vehicles-Automotive Investment Scheme (MHCV-AIS), expected to stimulate investment in the production of vehicles. The MHCV-AIS is a sub-component of the Automotive Investment Scheme, an incentive administered by the Department of Trade and Industry designed to grow and develop the automotive sector in South Africa. "The broadening of the scope of the AIS to.... Read more »

Posted on : Wednesday , 14th January 2015

Most developing countries will benefit from oil price slump – World Bank

 Gains from low oil prices can be substantial for developing-country importers if supported by stronger global growth, says a World Bank Group analysis of the oil price decline, contained in the latest edition of Global Economic Prospects.   The decline in oil prices reflects a confluence of factors, including several years of upward surprises in oil supply and downward surprises in demand, receding geopolitical risks in some areas.... Read more »

Posted on : Wednesday , 14th January 2015

Kenya: Kenya Commercial Bank and housing firm Sandstone Development Company Limited have agreed a deal to bring new homes to the market.

The venture, called Impala Villas Rimpa in Ongata Rongai is part of wider plans to develop hundreds of new homes in the outskirts of the city. “By bringing together Sandstone’s development expertise with KCB’s financial might, we hope to transform the land which borders the Nairobi National Park to meet the housing needs of our people,” said Sandstone Development Company Chairman Edward Ndirangu. He said the agreement.... Read more »

Posted on : Wednesday , 14th January 2015

Continued growth expected for East African transmission and distribution industry

 Regional interconnections and oil discoveries are expected to drive the transmission and distribution industry’s (T&D’s) growth in East Africa, the second-fastest growing region in Africa, global growth consulting firm Frost & Sullivan said on Tuesday. The region’s power sector was currently highly underdeveloped and had the lowest electricity access rate on the continent, the firm stated while highlighting that.... Read more »

Posted on : Tuesday , 13th January 2015

Africa: a development hotspot in 2015

 Content analyst at Infield Systems Limited, Catarina Podevyn, says Africa is expected to hold a 15% share of offshore capital expenditure over 2015, up 10%, led by developments offshore Angola. In West Africa, offshore Ghana and Congo will also see increasing expenditure, she adds. "Total's giant, the Egina development offshore Nigeria, is anticipated to be the single most capital intensive project offshore West Africa over 2015,.... Read more »

Posted on : Tuesday , 13th January 2015

UK-based firm eyes Kenya oil supply

 Anglo Energy Refining Corporation, a UK-based petroleum firm, has set up base in Kenya with an eye on bulk importation of oil and possibly setting up a refinery.The UK firm’s debut makes Nairobi its African headquarters. The oil company in December received a licence to operate and import oil under the Open Tender System (OTS), the centralised oil distribution system, from the Energy ministry, and says it is ready to bid for.... Read more »

Posted on : Tuesday , 13th January 2015

Africa to focus on growing its economy

 President Jacob Zuma is, this month, October 2014, prioritising the economy and local government. In his State of the Nation address delivered in June 2014, Zuma said the economy would take centre stage this term and announced a target of 5% growth by 2019. He also announced that local government, the sphere of government closest to citizens, and the “engine of service delivery” would be revitalised and strongly.... Read more »

Posted on : Tuesday , 13th January 2015

Special economic zones 'to support industrialisation'

 The designation of special economic zones (SEZs) will support a broader-based industrialisation growth path in South Africa, while helping the country achieve the objectives of the National Development Plan (NDP), says Trade and Industry Minister Rob Davies. Speaking at the tabling of the Special Economic Zones Bill before the National Council of Provinces (NCOP) in Cape Town on Tuesday, Davies said the Bill aimed to support balanced.... Read more »

Posted on : Tuesday , 13th January 2015

Africa’s newest Industrial Development Zone

 The Dube TradePort in the South African port city of Durban is now officially an Industrial Development Zone (IDZ), joining three other similar economic zones spread out across the country. President Jacob Zuma on Tuesday, 7 October, handed over an IDZ operator licence to the Dube TradePort Corporation for the precinct, which has already attracted investments worth nearly R1-billion since it was opened in 2012. The Dube TradePort IDZ is.... Read more »

Posted on : Tuesday , 13th January 2015

India aims to boost investment in Africa

 India aims to boost investment in industrial, economic and social sectors of Africa as the 54-nation continent tries to ramp up development to alleviate poverty, the UN General Assembly was told Friday. "Scaled-up investments in infrastructure, both economic and social, as well as in productive capacity for industrial development are needed," Amit Narang, a Counsellor at India's UN Mission, said. "This is an area of.... Read more »

Posted on : Tuesday , 13th January 2015

Tanzania: Progress on Kia-Mirerani Road Resumes

Arusha — AFTER a 12-month freeze on the road connecting Kilimanjaro International Airport's (KIA) junction and the Mirerani Mining Hills of Simanjiro, work is set to resume soon, following the appointment of a new contractor. Regional Manager, Tanzania National Roads Agency (TANROADS), Eng. Deusdedit Kakoko, told the Regional Road Board here that the previous contractor who was undertaking the project to build Mirerani road, had been.... Read more »

Posted on : Tuesday , 13th January 2015

Africa: Tanzania, Mozambique Top Africa's Oil, Gas Table

 Africa's energy industry could boom in the coming years, with Mozambique and Tanzania set to emerge as new frontiers if they can attract enough badly needed investment, a report said recently. Six of the top 10 global discoveries in 2013 were made in Africa, with more than 500 companies now exploring across to the continent, according to a study by PriceWaterhouseCoopers. Large gas finds in Mozambique and Tanzania would make the world.... Read more »

Posted on : Tuesday , 13th January 2015



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