Market News Page No. 574| Africa Business News | Afrotrade

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N e w s

US$250m Ressano Garcia power station in Mozambique inagurated

President Armando Guebuza has inaugurated the Ressano Garcia power station located on the border with South Africa. The Ressano Garcia power station will generate a total of 180 megawatts. The gas is treated by SASOL, South African petro-chemical giant, before being taken to the plant via a pipeline. The gas pipeline measuring 614 kilometre long starts from the Pande and Temane gas fields in Inhambane province. The.... Read more »

Posted on : Monday , 8th September 2014

Zimbabwe: Power Project Cost Raises Suspicion

FORMER Energy minister Elton Mangoma yesterday questioned the US$533 million Kariba South Power Station extension project launched by President Robert Mugabe last week, saying there was serious suspicion of inflation of prices and looting by officials involved. "Initially when we signed, the total cost for the project was US$370 million, now they are talking of US$530 something million. They now want to steal the money. The.... Read more »

Posted on : Monday , 8th September 2014

South Africa: Eskom Signs Koeberg Steam Generators Contract

Power parastatal Eskom has signed a contract that will see the replacement of steam generators at the Koeberg nuclear power plant, it confirmed. "Eskom is pleased to announce that the contract between it and Areva NP was signed on Friday," said Eskom on Saturday. The signing of the contract comes as Westinghouse Electric, a manufacturing company, withdrew its high court application to interdict Eskom..... Read more »

Posted on : Monday , 8th September 2014

German automotive firm eyes East Africa market

German automotive firm Bosch on Thursday announced it has entered the East African market. The firm's MD of Southern Africa Steffen Hoffman told journalists in Nairobi that it will invest over 250,000 Euros in their business venture in Kenya. "We want to tap into the motor industry that has been growing rapidly in the past decade as a result of the growing middle class, " Hoffman said during the.... Read more »

Posted on : Saturday , 6th September 2014

Hyundai to assemble delivery vans in SA

SOUTH Korean car manufacturer Hyundai is preparing to build vehicles in South Africa. The Seoul-based company’s local representative has confirmed it will assemble light delivery vehicles in Gauteng from next year and may manufacture cars in South Africa at a later stage. Despite not officially releasing sales figures, Hyundai is generally considered a strong third in the South African new-car market, behind Volkswagen.... Read more »

Posted on : Saturday , 6th September 2014

Ethiopia plans Africa's biggest dam

Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries. Dubbed the Grand Ethiopian Renaissance Dam, it will be Africa's biggest dam and will depend on water from the 6,700-km Nile River, the world's longest river. But.... Read more »

Posted on : Saturday , 6th September 2014

South Africa: Gearbox oil launched

Petroleum products refining company Engen announced in July that it had launched its Gengear XEP-series indus- trial gearbox oils for high performance under pressure applications onto the local market. After the recent introduction of the energy-saving hydraulic fluid Hydrokin ESF-series at customer events in Cape Town, Port Elizabeth, Durban and Johannesburg, Gengear XEP customer introductions will be part of a second series of roadshows in.... Read more »

Posted on : Saturday , 6th September 2014

South Africa: Diesel vehicle sales push fuel development

Increasing local demand for diesel vehicles is pushing development of diesel fuels to become more environment friendly while increasing engine power, reports petroleum industry company BP. South African diesel-vehicle drivers will be able to benefit from BP’s latest-generation diesel fuel, which was showcased in February at Johannesburg-based vehicle test track facility Gerotek. Speaking at the briefing, BP global head of diesel.... Read more »

Posted on : Saturday , 6th September 2014

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

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