Market News Page No. 534| Africa Business News | Afrotrade

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Kenya woos international investors to finance Sh790 trillion big-Industrial projects

State woos international investors to finance Sh790 trillion big-ticket projects It has not escaped the attention of many that enthusiastic foreign investors made a beeline for Nairobi last week eager to clinch deals in Kenya, which is considered the financial and business hub of the East African region. These investors are positioning themselves to or have already clinched lucrative contracts for several mega projects in Kenya. The list.... Read more »

Posted on : Tuesday , 25th November 2014

Egypt hires German firm for Suez Canal construction work

The engineering division of the Egyptian armed forces has announced that Egypt will use machines made by a German firm to bore at least four tunnels under the Suez Canal project, in a US$8 billion project of expanding the waterway and through which the government seeks to raise more revenues and foreign currency reserves. Kamal al-Waziri said on Thursday that the Egyptian army had contracted a German company to provide machines for three car.... Read more »

Posted on : Monday , 24th November 2014

US$64m flyover to be built over Coco Beach, Tanzania

The government of Tanzania has signed an agreement with the South Korean government to see through construction of another flyover in Dar es Salaam. The flyover will be constructed over Coco Beach along Toure Drive, where it will connect with the Ali Hassan Mwinyi Road. The bridge will be 7.1 Km in length and will have four lanes and a pedestrian path. It will be able to accommodate around 61,000 vehicles to use the road once complete. It is.... Read more »

Posted on : Monday , 24th November 2014

Hyundai Unveils $5m Assembly Plant In Mozambique

Hyundai, a South Korean automotive manufacturer, has unveiled a $5.45 million Hyundai car assembly plant in Mozambique’s capital city, Maputo. “The plant has an installed capacity to assemble 4,500 cars per year and in an initial phase will assemble five vehicles per day, which will increase to 1,200 units in 2015 and 2,500 in 2016,” said the Somyoung Motors in a statement. Mozambique’s economic growth has been.... Read more »

Posted on : Monday , 24th November 2014

Uganda's Hybrid Car, Kiira EV SMACK Launched In Kenya

The vehicle went on show at the Kenyatta International Convention Centre (KICC) in the capital Nairobi early Thursday.This is the first time the car goes on exhibition outside Uganda. Kiira Motors Corporation (KMC) – the Ugandan manufacturers of the car – recently told New Vision that it will be the region’s first sedan hybrid electronic vehicle.Hybrid-electric vehicles combine the benefits of gasoline engines and.... Read more »

Posted on : Monday , 24th November 2014

Nissan picks Associated Motor Holdings Kenya in bid to boost sales

NISSAN Motor Corporation Senior Vice President Africa , Middle East and India/ South Asia Business, Takashi Hata with the flagship NP300 during the introduction of the New Nissan into the Kenyan market , at their show room over the weekend. Nairobi; Kenya: Global car maker Nissan has picked Associated Motor Holdings (AMH) Kenya as a partner as it seeks to boost its market share in the country. The new partner is part of the South.... Read more »

Posted on : Monday , 24th November 2014

The Geregu II gas turbine power plant in Nigeria

In the Nigerian state of Kogi, Siemens has completed the Geregu II gas-turbine power plant in Ajaokuta on schedule. The customer is Niger Delta Power Holding Company (NDPHC), the state-run energy provider in Nigeria. As part of the turnkey construction project, Siemens supplied three E-class gas turbines as well as the associated generators. With an electrical capacity of 434 megawatts (MW), the plant will play an important role in the.... Read more »

Posted on : Monday , 24th November 2014

Atlas Development and Support Solutions expects Kenyan listing by mid December

Oil and gas solutions services provider Atlas Development and Support Solutions has said it expects a dual listing on the Growth Enterprise Market Segment (‘GEMS’) of the Nairobi bourse by December 15th as it continues with the last stages of discussions with According to the chief executive officer of the London Company Carl Esprey Atlas will allow Kenyans to take hold of some 40 million shares valued at $4.... Read more »

Posted on : Monday , 24th November 2014

Kenya: Over 300 Foreign Investors Seek Opportunities in Kenya

Nairobi — Over 300 investors from the region and across the globe are in Nairobi with the aim of seeking business opportunities in Kenya. The investors are attending a major two-day conference dubbed Kenya International Investment Conference (KIICO) where the government and the private sector are showcasing what opportunities the country has to offer. Welcoming the entrepreneurs on Wednesday, President Uhuru Kenyatta called on the.... Read more »

Posted on : Monday , 24th November 2014

Kenya the Best Place to Invest, Says Kirubi

Nairobi — "If the truth is to be told, Kenya is the best place in the world to invest in. This is a country where wealth is made. In the western world, you are shuffling money which is creating no wealth," Businessman Dr Chris Kirubi tells over 300 investors who are in Nairobi to attend the first Kenya International Investment Conference (KIICO). "Take one of the counties, invest, and you will become a.... Read more »

Posted on : Monday , 24th November 2014

Diamond mining gaining industrial growth in Africa

Basikwa Trading (Pty) Ltd was established in 2007, and has since taken advantage of the opportunities opening up in South Africa with regards to diamond benefication. The company trades in rough and polished diamonds on the local market and export to the international diamond trade, and values their customers as they value the diamonds they sell. Basikwa’s diamond factory produces polished diamonds which are certified by the.... Read more »

Posted on : Monday , 24th November 2014

Kenya the Best Place to Invest, Says Kirubi

Nairobi — "If the truth is to be told, Kenya is the best place in the world to invest in. This is a country where wealth is made. In the western world, you are shuffling money which is creating no wealth," Businessman Dr Chris Kirubi tells over 300 investors who are in Nairobi to attend the first Kenya International Investment Conference (KIICO). "Take one of the counties, invest, and you will become a billionaire," he.... Read more »

Posted on : Monday , 24th November 2014

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