Market News Page No. 549| Africa Business News

East Africa: EAC Endorses Investment Blueprint

A proposed 10-year investment strategy for priority infrastructure projects in the East Africa Community to tackle the existing gaps received backing during the just-concluded EAC Heads of State Retreat on infrastructure development and financing. The summit, convened over the weekend in Nairobi, Kenya, endorsed the blueprint and directed the Council (of Ministers) to mobilise resources for implementation. Held under the theme,.... Read more »

Posted on : Wednesday , 3rd December 2014

Africa Set On Boosting Investments With China

President Jacob Zuma has arrived in China where he is leading a delegation of ministers and businesspeople on a State visit aimed at strengthening bilateral relations, the Presidency said on Tuesday. The two-day visit, scheduled for Thursday and Friday, signals a further consolidation of South African-Sino relations. This is President Zuma's second State visit to China. In 2010, he took 17 Ministers and about 300 businesspeople and.... Read more »

Posted on : Wednesday , 3rd December 2014

Schlumberger reduces seismic fleet as deepwater exploration spending falls

The world’s largest oilfield services company Schlumberger has announced it will be reducing its WesternGeco fleet as lower commodity prices lead to short-term cost cutting measures by exploration companies. According to the company’s President of operations and integration Patrick Schorn Schlumberger will be restructuring WesternGeco marine seismic fleet by retiring older vessels with low towing capacity and high.... Read more »

Posted on : Wednesday , 3rd December 2014

Atlas Development secures first contract in Mozambique

African focused support services and Logistics Company Atlas Development & Support Services Limited has announced that, in line with its expansion strategy for East Africa, it has been awarded its first support services contract in Mozambique. The agreement, with an international oil company, underlines Atlas Development’s increasing penetration into the oil & gas support services market and its growing reputation with.... Read more »

Posted on : Wednesday , 3rd December 2014

Swala Energy hints possible Farm-in in Eastern Africa

Swala Energy has announced that it is in farm-in conversations in Eastern Africa as the company seeks ways of raising alternative funding transactions. This follows the withdrawal of a share purchase plan by the company’s board as the company aims at raising $5 million to finance its drilling obligations ahead of the planned in 2015. Swala which has already suspended its shares from trading since 24th November says.... Read more »

Posted on : Tuesday , 2nd December 2014

Boost to African Manufacturing Industries to Build Stronger Economy

The Government wants the manufacturing industry to have a greater weight in the national economy, at a time the country needs to diversify its economy still heavily dependent on the oil sector. This was said Wednesday in Luanda by the minister of Industry, Bernarda Gonçalves. The minister was speaking at a press conference, saying that the National Development Programme and the Angola Industrialisation Programme make provision for.... Read more »

Posted on : Tuesday , 2nd December 2014

African Trade & development receive $320 million

A variety of lenders are designated mandated lead arrangers including several African banks: Rand Merchant Bank, Bank du Caire and Nedbank. Admassu Tadesse, the PTA Bank President said, “We are grateful to our correspondent banking partners for their increased African appetite and their confidence in PTA Bank as it continues to grow, modernise and vigorously pursue our vision of being a world class specialised African financial.... Read more »

Posted on : Tuesday , 2nd December 2014

Inter African Investment to Boost Trade Ties

ZIMBABWE and South Africa will soon sign a Memorandum of Understanding to strengthen trade and industrial relations, Industry and Commerce Minister Mike Bimha has said. "This framework is expected to further strengthen trade and industrial relations between our two countries. South African business people should take advantage of this framework to explore investment opportunities in Zimbabwe," Minister Bimha said. The Industry.... Read more »

Posted on : Tuesday , 2nd December 2014

The 2014 World Economic Forum on Africa

The World Economic Forum on Africa (WEFA), has come to a close after three days of deliberations; over 1,200 regional and global leaders from 80 countries worldwide attended the event. The forum, centered on the theme of “Forging Inclusive Growth, Creating Jobs,” saw the participation of Nigerian President Jonathan Goodluck, Prime Minister of the Ivory Coast Daniel Kablan Duncan, Chinese Premier Li Keqiang, as well as.... Read more »

Posted on : Monday , 1st December 2014

GE to Invest U.S. $2 Billion in Africa by 2018

GE will invest $2 billion in facility development, skills training, and sustainability initiatives across Africa by 2018. GE made the announcement in advance of President Obama's U.S.-Africa Leaders Summit. Through partnerships and technology, GE is poised to help increase access, reliability, and affordability of core infrastructure throughout the continent.... Read more »

Posted on : Monday , 1st December 2014

Innovative Investing in African Emerging Markets

New York — Forum hosted by the Initiative for Global Development brings together leading African and international CEOs, senior executives, and investors to discuss investing in Africa The Initiative for Global Development (IGD) convened its eleventh Frontier 100 Forum today, bringing together CEOs and senior executives from top corporations around the world. The Forum's theme, "Africa: Innovative Investing in Emerging.... Read more »

Posted on : Monday , 1st December 2014

Kentsel Machinery Co.set to expand to the African Market

Kentsel Mchinery Co. is one of the leading manufacturers of light construction machines. Each item in its production scope is manufactured under restricted brand name of VIBROTECH and also in compliance with ISO 9001-2000 Quality system certification. Kentsel pursues the latest high-Tec facilities and engineering innovations in order to serve best its customers and partners. Kentsel embraces professionalism and client-oriented principles.... Read more »

Posted on : Monday , 1st December 2014