Market News Page No. 541| Africa Business News | Afrotrade

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South Africa s Scaw Metals to open US$40 million grinding plant in East Africa

According to the Ghana Herald, the plant is expected to become fully operational in 18 months. It will have the capacity to grind 50,000 metric tonnes of metals per annum. Scaw Metals produces chrome forged grinding media that are used in gold and copper industries. The company set up its regional sales office in Tema in 2011, which serves as its hub in West Africa. Scaw Metals chief executive officer Markus Hannemann said,.... Read more »

Posted on : Thursday , 20th November 2014

Unilever to build a US$90 million factory in Africa

The new factory has been scheduled to start production by 2014, incorporating Unilever’s latest manufacturing technologies. It will produce products from some of the company’s popular brand ranges including, Omo, Skip, Handy Andy, Domestos bleach, Comfort and Sunlight. Up until now, the products were partially made in South Africa and partially imported, but once the new factory became operational, the products will be fully.... Read more »

Posted on : Thursday , 20th November 2014

Kenya: Vivo Launches New Manufacturers' Fuel Oil

Nairobi — Vivo Energy Kenya, the company that distributes and markets Shell-branded fuels and lubricants, has launched a new fuel oil for manufacturers who use boilers in their operations. The new fuel oil, which will be known as Shell FuelOil Plus is aimed at enabling manufacturers improve their boiler efficiency, lower their plant running and maintenance costs as well as lower their impact on the environment due to lower.... Read more »

Posted on : Thursday , 20th November 2014

Kenya Power Gets $190m Loan To Boost Local Energy Supply

Kenya Power and Lighting Company (KPLC) has secured a $190 million loan from Standard Chartered Bank to boost production as it seeks to meet the power demands of East Africa’s largest economy. The loan will be used to upgrade the company’s transmission network to support the country’s ageing grid. “Kenya Power will use the funds to make huge investments in acquisition of additional transformers and.... Read more »

Posted on : Thursday , 20th November 2014

Tanzania s trade share in EAC increases

Tanzania’s share of intra-regional trade in East African Community region has increased from 15 per cent in 2005 to 26 per cent by last year grossing over 1.5 billion US dollars, the government has said. The Permanent Secretary at Ministry of East African Cooperation, Joyce Mapunjo, told reporters in Dar es Salaam that the country’s trade volume was only second to Kenya in the EAC region. Ms Mapunjo who was speaking.... Read more »

Posted on : Thursday , 20th November 2014

Kenya unveils one-stop centre for businesses

The Government has established a one-stop centre housing all regulatory arms of government to ease entry of investors. The centre will provide timely, effective and efficient government services to investors to enhance and encourage their participation in economic development. Making the announcement, President Uhuru Kenyatta said the centre located at the Kenya Investment Authority (KenInvest) headquarters in Nairobi will host.... Read more »

Posted on : Thursday , 20th November 2014

Investors urged to take advantage of reforms

Local and foreign investors have been advised to take advantage of the ongoing reforms to increase their investments, create more job opportunities and help eradicate poverty. President Uhuru Kenyatta greets Mr. Maurice Vermersch, Chairman of the East African chapter of the Belgian Chamber of Commerce during the Launch of the Inaugural Kenya International Investment Conference at the KICC, Nairobi. Also present is Cabinet Secetary.... Read more »

Posted on : Thursday , 20th November 2014

Agaciro Fund targets Rwf1.2b from investments by June 2015

Agaciro Development Fund Corporate Trust Limited projects to earn over Rwf1.2 billion interest from the investments it has made by June next year, Vianney Kagabo, the Fund’s chief executive officer, has said. Kagabo (left) receives the contribution from CSK’s Rwabuyonza yesterday. (Emmauel Ntirenganya) Kagabo (left) receives the contribution from CSK’s Rwabuyonza yesterday. (Emmauel Ntirenganya) Kagabo said the Fund.... Read more »

Posted on : Thursday , 20th November 2014

Firm injects Sh2.2b into Mombasa garments factory

Mombasa Apparels EPZ factory commenced operations last week. Located in Mtwapa, Kilifi County, the new factory will manufacture garments for the international market. Speaking during the official opening of the $25 million (Sh2.2b) factory, Industrialisation and Enterprise Development Cabinet Secretary Adan Mohamed, said the opening of the facility has already created 3,000 direct jobs with a potential to create another 4,000 jobs.... Read more »

Posted on : Thursday , 20th November 2014

Tanzania: Experimental Oil Drilling to Start Soon in Rukwa

HERITAGE Rukwa Tanzania is set to start drilling its first experimental oil well in Tanzania's Rukwa Rift Basin after successful completion of exploration in the area, the National Assembly was told on Tuesday. Deputy Minister for Energy and Minerals, Mr Charles Kitwanga said this in Parliament on Tuesday when responding to a question by Mbozi West Member of Parliament, Mr David Silinde. "Oil drilling in Lake Rukwa is scheduled to.... Read more »

Posted on : Thursday , 20th November 2014

GE Expanding its presence in Nigeria s power sector further

IGPES Gas & Power is a subsidiary of IGPES Limited, a wholly owned Nigerian engineering services company. IGPES has an extensive footprint in the Nigerian oil and gas industry by providing integrated engineering, procurement and construction services across the energy value chain. "Our new distribution and services agreement with GE gives IGPES access to a gas engine technology that is highly regarded within the global.... Read more »

Posted on : Thursday , 20th November 2014

Ghana's state oil company can take over the much-smaller national gas firm under a deal approved by the government

Ghana's state oil company can take over the much-smaller national gas firm under a deal approved by the government, Finance Minister Seth Terkper said on Wednesday during the annual budget. The deal will bring Ghana National Petroleum Corporation (GNPC) finance to a Ghana Gas pipeline and processing facility that transports gas from the offshore Jubilee oilfield onshore for domestic use, according to a senior GNPC official. The.... Read more »

Posted on : Thursday , 20th November 2014

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