Market News Page No. 322| Africa Business News

Yet another huge gas power plant to be constructed in Africa

Namibia will construct its largest gas power plant since independence in 15 months’ time, Xaris Holdings, a company managing the project has announced. The plant is estimated to cost 450 million US dollars. Other companies involved in this mega project includes; General Electric, Excelerate Energy, Standard Bank, Garanti Koza, KS Energy and Ariya Capital Group. The major power plant to be constructed in.... Read more »

Posted on : Monday , 25th January 2016

Azura Power construction Project in Africa gets US$900m boost

Electricity shortages in Nigeria could be a thing of the past following plans to construct an independent power scheme regarded one of its kind. Equity funders in collaboration with 20 international banks have committed US$900m towards the Azura Power construction Project in Nigeria.The 450MW gas-fired open-cycle power plant will be hosted in Edo State. The boost comes after the power plant scheme attain financial close and.... Read more »

Posted on : Monday , 25th January 2016

China to construct mega sea port in Africa

Algeria’s Transport Ministry, China State Construction Engineering Corporation (CSCEC) and China Harbour Engineering Company (CHEC) have signed an agreement to construct a mega sea port in Algeria. The US$3.3bn project will be constructed on the new center transshipment port of Cherchell. However, a consortium company to build the port will be established and the port will be constructed within the capital city Algiers some.... Read more »

Posted on : Monday , 25th January 2016

World Bank boosts infrastructure in Africa with $100m loan

Infrastructure in Gabon has received a shot in the arm after the World Bank extended a $100 million loan aimed at boosting infrastructure in the country. The approved loan is the second phase of the Infrastructure and Local Development project. The project aims to improve access to urban infrastructure and services in selected underserviced neighbourhood and to build basic capacities for municipal management in targeted.... Read more »

Posted on : Saturday , 23rd January 2016

China pledges to boost infrastructure construction in Africa

China will work closely with Egypt in a bid to boost infrastructure construction in Egypt, president Abdel Fattah el-Sisi and his Chinese counterpart Xi Jinping have announced. The two leaders agreed to work together in a bid to enhance growth in the infrastructure sector of the country President Sisi said he is willing to connect its own development plans with the Belt and Road Initiative and expand infrastructure.... Read more »

Posted on : Saturday , 23rd January 2016

CSIR photovoltaic solar plant in Africa begins operations

The ground-mounted CSIR photovoltaic solar plant in South Africa is now fully operational. The plant is situated at the Council for Scientific and Industrial Research (CSIR), in Pretoria. The construction of the project began in June last year and initial testing completed the same year. The project forms part of the CSIR’s aim to run its Pretoria campus fully on renewable energy and, therefore, move totally off.... Read more »

Posted on : Saturday , 23rd January 2016

German Brand enters African solar market

German photovoltaic (PV) mounting systems manufacturer Renusol has established a presence in South Africa’s promising solar market The company supplies its innovative solutions for mounting photovoltaic modules on roofs to South African wholesaler Lumax Energy, which sells Renusol’s entire product portfolio. Frans-Willem Vermaak, business development manager at wholesaler Lumax Energy, said, “The solar market in South.... Read more »

Posted on : Friday , 22nd January 2016

Construction of Batoka Hydro Power Plant to begin 2017

The construction of Batoka Hydro Power Plant in Zimbabwe is set to commence in 2017. The plant will be built on the Zambezi River along the Zimbabwe-Zambia border. Zimbabwe’s Energy and Power Development Minister, Samuel Undenge, told journalists in Harare last week that the feasibility studies are expected to be completed by June this year. “This is a joint project between Zimbabwe and Zambia and with the.... Read more »

Posted on : Friday , 22nd January 2016

East Africa: EAC Cited As African Trendsetter

The East African Community (EAC) has been cited as one of the growing blocs amongst the Regional Economic Communities (REC) in sub-Saharan Africa. The Brookings Institution in its recent Foresight Africa 2016 report on regional integration in sub-Saharan Africa, said the EAC has implemented several joint infrastructure projects. Among them is the Arusha-Namanga-Athi River Road, a road which runs from Tanzania to Kenya..... Read more »

Posted on : Friday , 22nd January 2016

Kenyan Entrepreneurs Tap Into Chinese Market

Edith Mbui's modest upbringing in a rural Kenyan village taught her the values of hard work, fortitude and commitment to causes that would have lasting impact on the wider society. The retired mother of one pursued formal education with zeal and was among few young women who broke the glass ceiling to secure lucrative careers in the Kenyan public service. While growing up in post independent Kenya, Mbui witnessed.... Read more »

Posted on : Thursday , 21st January 2016

Africa and China to build US$3.3bn port

Africa and China have signed a US$3.3bn deal to build a new transshipment port around 60km west of Algiers portconstruction washingtonstatedeptoftransportation flickrAlgeria as a trade hub is rising in importance in East Africa, making it viable to build a port. (Image source: Washington State Dept of Transportation/Flickr) The agreement was signed between Algeria’s transport ministry, China Harbour and Engineering Company (CHEC).... Read more »

Posted on : Thursday , 21st January 2016

Djibouti begins constructing first ever solar power plant

Djibouti has begun constructing its first ever solar power plant located in Grand Bara, in the south of the country aimed to cut the cost of energy and add 50 megawatts of power towards a capacity of 300 megawatts. The US$ 390m project is as a result of a partnership between the Republic of Djibouti and Green Enesys, a German company specializing in renewable energy. Energy Minister Ali Yacoub Mahamoud confirmed the.... Read more »

Posted on : Thursday , 21st January 2016