Market News Page No. 332| Africa Business News | Afrotrade

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Nigeria: 'Infrastructure Investment Key to Nation's Survival'

Securing and improving on Nigeria's infrastructure stock through prioritized investments, has again been listed as the pathway to the nation's long-term success and economic revival. Besides, a new report by The Boston Consulting Group (BCG), said the nation's stock of wealth and assessed potentials has failed to translate into the well-being of the populace. The report, which analysis was based on Sustainable Economic.... Read more »

Posted on : Thursday , 7th April 2016

Kenya Signs MoUs Worth Sh28 Billion with France For Infrastructure Development

Kenya has signed seven memorandums of understanding that will see the country receive upto 250 million euros (Sh28.8 billion). The agreements were signed after President Uhuru Kenyatta met his French counterpart Francois Hollande for bilateral agreements. The financing are a culmination of both grants and loans negotiated through the national Treasury to finance several infrastructure projects in the country. This is.... Read more »

Posted on : Wednesday , 6th April 2016

Kenyan Start-Up In Deal With Global Firms to Set Up Organic Fertiliser Plant

Kenyan start-up, Wanda Organic has signed a deal with two global firms from the Philippines to set up an organic fertiliser manufacturing plant in Kenya. The two Philippines-based companies, ELR Family Trading Inc. and Richfund International will oversee the manufacture of Plantmate Bio-Organic Fertiliser in Kenya. "It's commendable to see more young Kenyans venture into agriculture and we are committed to supporting such.... Read more »

Posted on : Wednesday , 6th April 2016

Nigeria: Local Community to Get U.S.$150 Million Solar Power Project

Jos — Panyam community in Mangu Local Government Area of Plateau State is to benefit from a $150 million solar plant power project expected to take off before the end of this year. CT Cosmos Nigeria Limited, a subsidiary of Communication Towers Ltd, which indicated interest to establish the solar plant project in Panyam stated that the project when completed is expected to generate over 70 megawatts which will be sufficient to.... Read more »

Posted on : Wednesday , 6th April 2016

UAE Based Truck Bodybuilders Eye East African Market

Truck bodybuilders in the UAE are keen on stepping up their presence in African markets as they look to venture outside the GCC. Dubai-based Gorica Industries, one of the biggest names in the segment, is already active in Africa, says managing director Ivan Fornazaric. “Our main markets are the Middle East and Africa. This is where we sell,” he said. While the GCC is the company’s focus, Gorica.... Read more »

Posted on : Tuesday , 5th April 2016

Chinese Investors to Build Fertilizer, Farm Equipment Plants in Nigeria

Dutse — A group of Chinese investors under the auspices of the Machinery and Equipments Producers Association from Henan Province of China has indicated interest to invest over $200 million on fertilizer and farm implement manufacturing companies in Jigawa State. The chairman of the association, Richard Zhiyong Lu, made this known yesterday in Maigatari, headquarters of Maigatari LGA of Jigawa State while inspecting the Free Trade.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania: Entrepreneurs Urged to Engage in Fish Farming

Dar es Salaam — Small and medium entrepreneurs have been urged to grab opportunities offered by the fish keeping sector in order to boost their incomes. Speaking during a day-long workshop on 'New Opportunities in Agribusiness' yesterday, a senior Fishery officer from the ministry of Agriculture, Livestock and Fisheries, Mr John Mapunda, said there was a shortage of over 400,000 tonnes of fish in the country, a gap that the.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania: Tallest Building in Eastern & Central Africa to be Completed By August

Construction of the tallest building in Eastern and Central Africa, owned by Tanzania Ports Authority (TPA) will be complete in August. According to the Director of KM&Archplans (T) Ltd, the lead company of construction consortium, Mr Albert Mwambafu, construction of the building was currently complete by 90 per cent. He said that upon its completion, the 35-storey building will cost 120bn/-. Among other things,.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania: Construction of Two New Berths at Port to Begin Next Year

Tanzania Ports Authority (TPA) has finally secured funds for construction of berths 13 and 14 which were on drawing board for almost five years. The fund, 690 million US dollar, put together by World Bank, DFID and TPA, will enable the much awaited project to take off in 2016/17 fiscal year. TPA's acting Director of Planning and Investment, Gladson Urioh, said the fund will also involve the construction of berth 12 after relocating.... Read more »

Posted on : Tuesday , 5th April 2016

Construction of New Oil Terminal in Mombasa To Begin in October

Kenya will start building a new offshore crude oil and refined fuel jetty in October. The jetty is expected to increase efficiency in delivery of imported refined fuel for Kenya's domestic use and export to Uganda, Rwanda, Burundi and eastern Democratic Republic of Congo. The Kenya Ports Authority (KPA) plans to build the jetty near Dongo Kundu from October to December 2019 to handle larger tankers and relocate existing Kipevu.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania: Country's Electricity Grid To be Connected to Kenya, Zambia

Dar es Salaam — Tanzania is determined to complete two projects to connect the country's electricity grid to that of Kenya and Zambia by 2019. The projects-Iringa-Shinyanga (Backbone Transmission Investment Project) which will be interconnected with Kenya grid and the Iringa-Mbeya which will be connected to Zambia are scheduled for completion in 2018 and 2019, respectively. This would the country to trade power with neighbouring.... Read more »

Posted on : Saturday , 2nd April 2016

Nigeria: State Govt Invested N30 Billion in Agriculture

Gov. Kashim Shettima of Borno on Thursday said the state government had invested about N30 billion to promote agricultural production in the state. Shettima, who disclosed this while conducting the UN Resident Coordinator, Ms Fatma Samoura, round some of the ranches at the Government House in Maiduguri, decried Nigeria's continued dependence on importation. The governor explained that agriculture held the key to job creation,.... Read more »

Posted on : Saturday , 2nd April 2016

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