Market News Page No. 563| Africa Business News | Afrotrade

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South Africa to buy power from DRC s Inga Dam

South Africa will be benefiting from power generated from a dam in the Democratic Republic of Congo (DRC), after the two sealed a purchase order for SA to buy electricity in six years time starting end of this month September. In the agreement, it is expected that South Africa will play the role of a “reliable purchaser” in order to support the Grand Inga (Inga 3 dam) development in western DRC. South Africa is.... Read more »

Posted on : Monday , 29th September 2014

EU grants US$ 2.55bn for sustainable energy development in five Africa countries

Five African heads of states have jointly signed a grant with the European Union President, Jose Manuel Barroso, in New York, a grant that will seek to woo private investors into sustainable energy development. The beneficiaries include Rwanda, Cape Verde, Cote D ‘voire, Liberia and Togo. The grant portions to the five states will be managed by their respective ministries of finance, and will only be awarded to private investors.... Read more »

Posted on : Monday , 29th September 2014

US$ 90m dual carriage road to be constructed in Eldoret, Kenya

Eldoret is set for an infrastructural change with construction of a US$ 90m dual carriage road. Members of the County Assembly in Uasin Gishu County approved the project, which is expected to commence as soon as the survey currently being done, is complete. The road will link Eldoret town to Eldoret International Airport passing through the Kisumu road to the town centre, Chepkoilel junction to Iten Road. The length of the road has been.... Read more »

Posted on : Monday , 29th September 2014

Solarcentury To Build Largest Carport Solar System At Garden City, Nairobi

Solarcentury is to design and construct Africa’s largest solar carport on the uppermost storey of a car park at Garden City Mall, part of the new 32-acre integrated residential, retail park, hotel and office development on Nairobi’s Thika Superhighway. The clean solar electricity generated by the 858kWp system will be used by the retail tenants. The solar installation will be financed under NVI Energy’s.... Read more »

Posted on : Monday , 29th September 2014

South Africa set to get a nuclear power plant funded by Russia

South Africa is set to get a new nuclear power plant, following the signing of a cooperation deal with Russia recently. Both sides noted that the nuclear power plant will have a production capacity of up to 9.6 GW based on Russian Technology, by 2030. The announcement was made during an International Atomic Energy conference in Vienna this Monday. The South African Minister for Energy, Tina Joemat-Pettersson, noted that the agreement.... Read more »

Posted on : Monday , 29th September 2014

Namibia to construct US$ 1.2bn gas-fired power plant

Shanghai Electric from China has been chosen by the Namibian Government as the preferred company to build a new USD $1.2bn gas-fired power plant in the country. Upon completion of the power plant, it is expected that there will be a production capacity of up to 1050MW and it will be connected to the South African and Namibian electricity grid for use in the region and locally. The project which is in Kudu, South Western Namibia.... Read more »

Posted on : Monday , 29th September 2014

A US 260m peat power plant to be constructed in Rwanda

The government of Rwanda is planning to construct a new US$ 260m peat-fueled power plant in Gisagara district, Rwanda to add up to 80 megawatts into its national grid. To be constructed in partnership with a Turkish company, Hakan, the new peat power plant will help address the country’s growing energy demands. The project is the second in the country after the Gishoma peat power plant that is nearing its completion and.... Read more »

Posted on : Monday , 29th September 2014

Two solar power plants to be constructed in Nigeria at US$106m

Two solar-powered plants are set to be constructed in Kumbotso, Kano state and Karu, Abuja state of Nigeria. The project will require US$106m to fund the construction, and each each solar power plant will give off 50MW. A consortium of international investors, Global Business Resource of USA this week submitted a proposal to the relevant Nigerian ministry, in which they also propose to carry out Geographic Information System (GIS).... Read more »

Posted on : Monday , 29th September 2014

Sub-Saharan Africa's infrastructure spending to exceed US$180 million by 2025, says PwC report

The overall infrastructure spending in the sub-Saharan region is projected to grow by 10 per cent a year over the next decade and will exceed US$180bn by 2025, a new report by PricewaterhouseCoopers (PWC) reveals Nigeria and South Africa dominate the infrastructure market, but other countries like Ethiopia, Ghana, Kenya, Mozambique, and Tanzania are also poised for growth, the report added. “Growth prospects in most of the.... Read more »

Posted on : Monday , 29th September 2014

Rwanda's convention centre to become iconic landmark

Rwanda is putting up a landmark conference centre as part of its plans to reap from conference tourism. Kigali Conference Centre, a dome-like construction being built mainly using steel, will have a seating capacity of 2,600. According to Frank Murangwa, the Meetings Incentive Conference and Events (MICE) Division Manager at Rwanda Development Board, the convention centre will have 10 meeting rooms of varying sizes and the main arena which.... Read more »

Posted on : Monday , 29th September 2014

IFC acquires stake, injects Sh6b in Kenyan cement firm

The cash will enable National Cement Company expand its operations and create over 6,000 jobs he International Finance Corporation (IFC), a private sector lending arm of the World Bank, will inject Sh5.9 billion ($70m) into National Cement Company Limited, a member of the Devki Group Of Companies formed in 2008. The cash injection will enable the Athi River-based firm expand operations, increase local supply of cement and promote.... Read more »

Posted on : Saturday , 27th September 2014

Indonesia pays more attention to Sub-Saharan Africa for Construction Services

Jakarta (ANTARA News) - Indonesia pays more and more attention to Sub-Saharan Africa as promising emerging markets in the next decades. At a roundtable discussion on opportunities for investment and trade cooperation in construction services and products in Sub-Saharan Africa held recently by the Ministry of Foreign Affairs (MOFA), Nigeria, Mozambique and South Africa offered many opportunities to would-be investors as gateways to doing.... Read more »

Posted on : Saturday , 27th September 2014

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