Market News Page No. 570| Africa Business News | Afrotrade

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Continued growth expected for East African transmission and distribution industry

Regional interconnections and oil discoveries are expected to drive the transmission and distribution industry’s (T&D’s) growth in East Africa, the second-fastest growing region in Africa, global growth consulting firm Frost & Sullivan said on Tuesday.The region’s power sector was currently highly underdeveloped and had the lowest electricity access rate on the continent, the firm stated while highlighting that East.... Read more »

Posted on : Saturday , 6th September 2014

Hudaco strengthens auto businesses with Partquip acquisition

Industrial products importer JSE-listed Hudaco has inked a deal to acquire automotive components distributor Partquip for R550-million, complementing the group’s existing automotive after-market businesses, which distribute clutches, seals and automotive bearings. “Partquip is an ideal fit for Hudaco in that its main business is the distribution of branded products, an area of core competency for Hudaco,” the group said in a.... Read more »

Posted on : Saturday , 6th September 2014

New commercial vehicle assembly plant in South Africa

Through its new commercial vehicle assembly plant, in Benoni, east of Johannesburg, automotive company Hyundai Automotive South Africa (HASA) was increasing its contribution to the local economy, CEO Alan Ross said on Thursday at the plant’s official opening. The 32 000 m2 semi-knocked-down (SKD) assembly plant, which had been established through a R110-million capital investment from HASA parent company Associated Motor Holdings, started.... Read more »

Posted on : Saturday , 6th September 2014

VW launches new Polo Vivo

Four years after the introduction of the locally built Volkswagen Polo Vivo to the market in 2010, Volkswagen South Africa (VWSA) on Friday launched a new-look Polo Vivo. Distribution of the new Polo Vivos to the various VW dealerships around the country had already started, with an intensive marketing campaign to start on Sunday. Speaking at the Johannesburg media launch of the new Vivo, VWSA communications GM Matt Gennrich noted.... Read more »

Posted on : Saturday , 6th September 2014

Namibia: GM Sales Gather Speed in Africa

General Motors South Africa (GMSA) confirmed that the new Opel Adam hatchback and Mokka SUV will arrive locally in 2015. The new models form part of Opel's global product offensive which will see 27 new vehicles and 17 engines launched by 2018, and reaching a growing African market. Mario Spangenberg, president of GM Africa, reports that the company has invested over R1.7-billion in its Africa operations in the past few years. He said.... Read more »

Posted on : Saturday , 6th September 2014

Acorn Group Kenya injects US$455m into a Real Estate project

Acorn Group Africa, a real estate firm in Kenya is going to inject US$455m into a real estate project that will see the firm construct shopping malls, commercial offices, residential properties and commercial hotels in Nairobi, Lukenya and Kitengela. The project is expected to commence in October this year with funds sourced through equity and bank loans. The firm aims to meet the growing demand for retail and residential property by both the.... Read more »

Posted on : Saturday , 6th September 2014

Hyatt Regency Arusha, Tanzania to be constructed at US$60m

Hyatt Hotels Corporation has entered into a partnership with ASB (Tanzania) Limited that will see the later construct a new 300-room five star hotel. The new hotel will be called Hyatt Regency Hotel Arusha. The building permit was awarded to ASB on May 7th this year. Located at the heart of Arusha, the 300-room five-star hotel will be in close proximity to some of Africa’s most famous natural landscapes and national parks,.... Read more »

Posted on : Saturday , 6th September 2014

Tetra Tech signs US$25m contract for Phase 1 of Konza City

Tetra Tech Inc will oversee development of phase 1 of Konza city following the signing of a contract between them and Konza Technopolis Development Authority (KoTDA). Colorado-based Tetra Tech was selected as the Master Delivery Partner 2 (MDP2) in the Kenya’s smart city construction project. Other partners in the MDP2 consortium are 11 firms from Netherlands, UAE, US, Germany and five firms hail from Kenya. According to the Vice.... Read more »

Posted on : Saturday , 6th September 2014

Merali to construct US$23m office block in Nairobi, Kenya

Businessman Naushad Merali has made plans to construct a US$23m office block in Westlands, Nairobi. Rivaan centre is conveniently located just off Waiyaki way and Brookside drive. Located on the periphery of Westlands, it is minutes away from the CBD and Gigiri and is in the heart of Nairobi’s upcoming and affluent residential and retail neighborhoods. The new office development will be constructed on Muguga Green, off Brookside Drive..... Read more »

Posted on : Saturday , 6th September 2014

Tanzania to construct 50, 000 houses in a US$ 48 m real estate project

A total of USD 48.24 will be used in the first phase construction of houses in Tanzania to provide shelter for public servants. The real estate project will be funded by the government of Tanzania. The construction of the houses will be done in collaboration with a real estate developer, Watumishi Housing Company (WHC). WHC also manages overseas real estate investment as a fund management company through the Real Estate Investment Trusts.... Read more »

Posted on : Saturday , 6th September 2014

Coca-Cola to `give back` 18.5b litres of water

Beverages maker Coca-Cola has announced an ambitious plan to ‘give back’ an equivalent of 18.5 billion litres of water it uses globally every year in its products and production process by 2020. The firm said the plan is to replenish water used in its products and to support healthy ecosystems and watersheds in local communities in which it operates. By 2020, Coca-Cola plans to have improved water efficiency by 25 per cent as well as.... Read more »

Posted on : Saturday , 6th September 2014

Qatar investors to enter Kenya real estate market

Qatar is seeking to enter into the Kenya real estate market. A delegation of Qatari Businessmen Association (QBA) has already visited the Kenya’s Minister of Foreign Affairs and International Trade, Amina Mohamed in a bid to improve ties between the two countries. The Minister has stated that the visit would open more business opportunities for Qatar. The delegation visiting the minister was led by Dr.Khalid Bin Thani. Kenyan.... Read more »

Posted on : Saturday , 6th September 2014

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