Market News Page No. 268| Africa Business News

Fix taxation to enhance Kenya competitiveness

Statistics indicate that within Africa, Kenya is the second largest destination for Foreign Direct Investments standing at 12.6 per cent compared to South Africa’s 17.1 per cent. Nairobi as a City has fared even better, now sitting prettily in position one across Africa having overtaken Johannesburg. Kenya has done well in the last two years on this account – in fact very well indeed bearing in mind the significant.... Read more »

Posted on : Saturday , 15th October 2016

Kenyan firm buys Tanzanian drugs manufacturer

Catalyst Principal Partners, a Kenyan private equity firm, has bought a controlling stake in Tanzanian pharmaceutical company Zenufa Laboratories. The acquisition of Zenufa is Catalyst’s fourth investment in Tanzania and second investment in the healthcare sector. In 2014, it acquired Kenya’s Mimosa Pharmacy, which was later rebranded Goodlife Pharmacy and has rolled out across the region. The $125 million (Sh12.5 billion).... Read more »

Posted on : Saturday , 15th October 2016

Lake Turkana wind power project in Kenya stays on track

As Mega wind farm in Kenya which is the Lake Turkana Wind Power Project- rises from the arid landscape of northwest Kenya’s Marsabit County,one thing is certain-the wind project will not only transform the country’s energy prospects but Africa’s energy landscape. Seen as a viable project, technology giant Google announced that it was buying 12.5 per cent stake of Africa’s largest wind farm that is the Lake.... Read more »

Posted on : Saturday , 15th October 2016

Akon Gets $1 Billion From China For His Light Africa Initiative

Akon has received over 1 Billion dollars in investment from China for his 'Lighting Africa' initiative. Hip Hop Star Akon received the investment when both Europe and the USA turned him down. The new investment will help 'Lighting Africa' initiative bring education and the means for Africa to build their own economy without the exploitation from foreign countries. China’s influence in Africa is growing at an unprecedented.... Read more »

Posted on : Saturday , 15th October 2016

Chandaria Industries to construct US$ 50m toilet paper manufacturing plant

Chandaria Industries is currently planning to construct a US$ 50m toilet paper manufacturing plant in a move to double its monthly output for toilet rolls and tissue products. The initiative came to birth after the family owned company acquired 29 acres of land at Tatu Industrial Park, where the new factory will be constructed. Chandaria Group Chief Executive, Mr. Darshan Chandaria confirmed the news and said that once.... Read more »

Posted on : Saturday , 15th October 2016

South African construction firms to pay US$90M into development fund

A total of Six South African construction firms will contribute a total of 1.25 bn rand ($90 million) in the next 12 years towards a fund kitty towards skill development in the construction sector and give black workers a much bigger role, a cabinet minister said recently. Ebrahim Patel, the Economic Development Minister said this voluntary contribution by the construction companies would be in addition to a 1.4 bn rand (US$98.1mn).... Read more »

Posted on : Saturday , 15th October 2016

Printing Inks Market in South Africa to Reach US$ 155.13 Mn by 2024

The printing inks market in South Africa is highly fragmented and the top six companies cumulatively accounted for more than 60% in 2015. These companies are New Africa Inks (Pty) Limited, Constantia Printing Inks, Hi-Tech Inks (Pty) Ltd., Flint Group South Africa Ltd., Hostmann-Steinberg South Africa (Pty) Ltd., and NUtec Digital Ink (Pty) Ltd. Transparency Market Research finds that the penetration of global players is likely to create.... Read more »

Posted on : Monday , 17th October 2016

Tanzania: Sh100 Billion Grant From China Boost for Tanzania

Dar es Salaam — The government has received a grant of Sh97 billion from China in support of development of education, seaports, health and airline security. The Minister of Industry, Trade and Investment, Mr Charles Mwijage and the deputy permanent secretary in the Ministry of Finance and Planning, Ms Dorothy Mwanyika signed the document on behalf of the Government of Tanzania while China was represented by its Vice.... Read more »

Posted on : Saturday , 15th October 2016

Set Up of US$ 30m milk processing factory in Kenya

A US$ 30m milk processing factory in Kenya is set to be operational in Nakuru, Kenya. It is being constructed by Sameer Agriculture & Livestock Limited (SALL), a company owned by billionaire businessman Naushad Merali. The initiative of the construction of the dairy processing plant is expected to increase the competition in the dairy sector which is growing at a high rate and also create employment. SALL CEO Mr..... Read more »

Posted on : Saturday , 15th October 2016

Africa: Kenya Ranked 3rd in Access to Credit in Sub Saharan Africa

Nairobi — Kenya has been ranked third in ease of access to credit in the sub Saharan Africa according to a new report by the Institute of Chartered Accountants in England and Wales (ICAEW). The report dubbed Economic Insight: Africa Quarter 3 2016 says Kenya is ranked after Rwanda and Zambia and before Ghana, Mauritius and Uganda. "Access to finance is a vital driver of economic growth, so this is great news.... Read more »

Posted on : Saturday , 15th October 2016

Dominovas Energy Advances Its Plans for Africa

Dominovas Energy Corporation (OTCQB: DNRG) today announces it has formally submitted a Request for Proposal (RFP) for the Ekurhuleni Energy Generation Program in Johannesburg, South Africa in an effort to be awarded a 20 megawatt (MW) Power Purchase Agreement (PPA) utilizing its RUBICON™ Solid Oxide Fuel Cell technology. This 20-year PPA was a collaborative submission by Dominovas Energy and its joint venture partner for the project.... Read more »

Posted on : Saturday , 15th October 2016

A first in Africa for solar-powered airport

South Africa’s George Airport. located half way between Cape Town and Port Elizabeth, has become the first on the continent to go completely solar-powered. It becomes only the second in the world after India’s Cochin International Airport in Kerala to run entirely on solar, being powered by 2,000 solar panels which produce up to 750 kW every day. Just 400 kW is needed to run all aspects of the airport’s.... Read more »

Posted on : Saturday , 15th October 2016