Market News Page No. 556| Africa Business News | Afrotrade

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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

BASF and Regional Dermatology Training Centre (RDTC) in Tanzania Develop Sunscreen for People with Albinism

Local RDTC production assures the supply of sunscreen for 2,000 affected people in North Tanzania; BASF provides ingredients and expertise for improved sunscreen and further expansion of the station. Those affected have light-colored skin, hair and eyes, making them more susceptible to sunburn and putting them at increased risk of skin cancer. In the East African country at the equator one in every 2,500 inhabitants is a person with.... Read more »

Posted on : Wednesday , 19th November 2014

Pharmaceutical firm launches new anti malaria drug formulation in Kenyan market

A Global Pharmaceutical firm on Friday launched a new anti malaria drug formulation into the Kenyan market that is aimed at increasing adherence to the medication. "Malaria patients now only have to take one tablet per dose compared to the four tablets previously," Novartis Pharma Services Manager for Africa Operations Nathan Mulure said in Nairobi. Novartis said that the new formulation has already been launched in Nigeria and.... Read more »

Posted on : Wednesday , 19th November 2014

Tanzania Railways in $130m revival plan

Tanzania Railways Ltd has embarked on an ambitious Tsh230 billion ($130 million) plan to modernise its infrastructure, to be financed through a commercial loan. TRL board chairman Severine Kaombwe said the firm also plans to digitise its operations and buy new equipment that will attract more hauliers to transport bulk cargo to upcountry destinations and landlocked countries through the railway network. “We are finalising a few things.... Read more »

Posted on : Wednesday , 19th November 2014

Africa bets on road, rail and port projects for growth

When Dr Donald Kaberuka took over as president of the African Development Bank (AfDB) in 2005, one of his first acts was forming a little-known task force that would define the Bank’s agenda in the next decade. Four men — two civil engineers and two economists — carefully chosen from Anglophone and Francophone regions to bridge this historical chasm, were given the task of solving one piece of the big puzzle that is the crisis.... Read more »

Posted on : Wednesday , 19th November 2014

Nampak to invest US$179 million in African manufacturing unit

The company said that the step was expected to strengthen its position in the beverage can and glass packaging sectors in Africa. A report in South African newspaper Business Day said that almost US$112mn will be invested in a third furnace at Nampak's Germiston-based glass bottle business. The report added that the investment was aimed at improving overall manufacturing efficiencies, enabling the company to supply a.... Read more »

Posted on : Wednesday , 19th November 2014

PPC to set up plant in Africa

The company revealed the information last week without giving out the details of how much the project would be worth. A senior executive of PPC was quoted in African business daily Business Day last year as saying that the company would spend US$200mn on a cement factory in Zimbabwe. The new factory in Zimbabwe, where PPC already runs two plants, will serve markets in the capital Harare and central Mozambique. PPC has also.... Read more »

Posted on : Wednesday , 19th November 2014

General Electric to build manufacturing unit in Africa

The decision to build the manufacturing unit follows the conclusion of GE’s agreement with the Nigerian government in January 2013. Calabar Free Trade Zone general manager Sadiq Kasim said, “Work on the site of GE’s engineering manufacturing plant will commence as soon as other formalities are adressed. We have given them land and very soon their engineers will mobilise to site and start work. They will be committing.... Read more »

Posted on : Wednesday , 19th November 2014

P&G to invest US$170 million in Africa

The plant, which is expected to create more than 500 jobs, will manufacture products like detergents and hygiene goods for local and export markets. Construction of the new plant will start in 2014, while production will commence in 2016 or early 2017. According to Procter & Gamble global business unit vice-president, Dimitri Panayotopoulos, the group will consider tapping into the developing markets in Africa by expanding to other.... Read more »

Posted on : Wednesday , 19th November 2014

Indorama to build fertiliser plant in Africa

Indorama management declared that all plans have been concluded towards the setting up of the plant, which will be Africa’s largest fertiliser unit. According to managing director Manish Mundra, the project was part of the company’s effort towards making Nigeria the largest petrochemical location in Africa by the year 2017. Mundra also said that Chinese company Toyo Engineering would handle the project and get its feed stock.... Read more »

Posted on : Wednesday , 19th November 2014

Raising Awareness of Energy Efficient Light Bulbs Pays off in Rwanda

In Rwanda, one of the most densely populated of the least-developed countries in Africa, 45 percent of the population lives in poverty and communities face acute electricity shortages. Here, every watt of electricity counts. In 2009, only 6 percent of Rwanda’s population had access to electricity. The majority of households were either living without lights or using kerosene lamps or batteries. In an effort to.... Read more »

Posted on : Wednesday , 19th November 2014

Cash withdrawals powered by Solar in SA

ATM Solutions claims to be the first to have developed solar powered ATM’s installed across Mpumalanga, South Africa, Business Tech reported. With the looming power crisis in South Africa, the design was to provide solutions for bank customers needing to use an ATM during a power cut. The ATM has installed solar panels which harness the sun and store in a battery until needed. The solar powered battery will kick in when the usual.... Read more »

Posted on : Wednesday , 19th November 2014

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