Market News Page No. 336| Africa Business News

Kenyan capital ranked largest mall developer in sub-Saharan Africa

Kenya’s capital Nairobi is the leading shopping mall developer in sub-Saharan Africa a survey by real estate consultancy firm Knight Frank has shown. The Shop Africa 2016 report which is the first review of the retail market in sub-Saharan Africa revealed that Nairobi is the top city with the largest shopping centre development with approximately 470,000 square metres of shopping centre space in the.... Read more »

Posted on : Thursday , 11th February 2016

Obama signs Power Africa initiative into law

President Barrack Obama has signed into law the Power Africa deal a move aimed at expanding electricity to millions of households in sub-Saharan Africa. This measure has been widely supported as it is a game-changer in saving lives and accelerating growth on the continent. The Electrify Africa Act leverages partnerships with the private sector in order to bring first-time electricity access to about 50 million people who live in.... Read more »

Posted on : Thursday , 11th February 2016

US$ 300m Kigali Convention Centre constructed in East Africa set to open

The multi-million Kigali Convention centre in Rwanda’s capital is set to be officially opened in June this year; this is according to Ultimate Concepts Limited (UCL) who owns the project. Kigali Convention Centre which is anticipated to be a hub of a lot of services in East African Community will further host the 27th African Union Summit and this will be its maiden major event, several other events have also been scheduled.... Read more »

Posted on : Wednesday , 10th February 2016

East Africa begins constructing grain silos countrywide

Uganda has began constructing grain silos countrywide to help in the maintaining of good grain standards, the Grain Council of Uganda has announced. The project is supported by Trade Mark East Africa. The Executive Director of the grain council of Uganda, Wilfred Tembo confirmed the news and said that the silos will be able to cater for approximately 200,000 kg of grain and is intended to serve close to 10, 000 farmers.... Read more »

Posted on : Wednesday , 10th February 2016

African Manufacturers to generate 13,223.67MW of power

About 13,223.67MW of power will be generated by the Nigerian manufacturers. This is according to Deutsche Zusammenarbeit (GZ) and the Nigerian Energy Support Programme. According to the survey report titled Survey of Power Demand and Energy Consumption in the Industrial Sector in Nigeria, manufacturers alone have the capacity to produce such enormous MW electricity. The report had been presented in Lagos and funded by the European.... Read more »

Posted on : Wednesday , 10th February 2016

US firm adds 29MW geothermal power to Kenya�s grid

A US firm Ormat Technologies has injected 29MW of geothermal power to Kenya’s grid within Olkaria III complex increasing its total capacity to 139MW. Ormat CEO, Isaac Angel confirmed the reports and said that it had reached the commercial operation phase of plant 4 with Kenya Power under a 20-year power purchase agreement which adds 29MW of geothermal power for Kenyans. “With the commissioning of plant.... Read more »

Posted on : Wednesday , 10th February 2016

China to Construct hydroelectric power stations in Africa

The Gezhouba Group Corporation (CGGC), a Chinese base company specializing in the construction of hydroelectric power stations plans to construct two hydroelectric power stations in Gabon. Besides constructing 3 Gorges Dam in China, the power company is renowned corporation for constructing the largest hydroelectric dam in the world in terms of production capacity The Chinese firm delegation have already met up with.... Read more »

Posted on : Monday , 8th February 2016

BIA and Cummins extend partnership in Africa

BIA, a Belgium-based company, is now the official distributor of a select range of Cummins’ products in Congo, DR Congo, Cameroon, Central African Republic, Chad, Togo, Benin, Burkina Faso and Côte d’Ivoire QSK95The Cummins QSK95 Series generator has a high-horsepower engine (from 3500 to 4375 kVA) This is especially noteworthy, considering the limited levels of industrialisation towards the western parts of.... Read more »

Posted on : Monday , 8th February 2016

Africa: AU in Plans to Set Up Free Trade Area

The African Union's Commissioner for Trade and Industry Fatima Acyl has called for structural transformation to create jobs that will improve the wellbeing of the African people. Ms Acyl, who was speaking at a meeting in Addis last week, before the African Union summit, said the backbone of the AU's industrial transformation plan is the African Mining Vision, and the creation of a Continental Free Trade Area. The mining.... Read more »

Posted on : Friday , 5th February 2016

Construction firms in Zimbabwe to trade with Tanzania

Construction firms in Zimbabwe should tap into the Tanzanian market to assist in boosting their economy, the export promotions body, ZimTrade has advised. ZimTrade further stated that the construction industry in Tanzania, since 2002 has recorded tremendous growth as a result of increased infrastructure development, government support and significant diplomatic and commercial partnerships with the Chinese government and private sector.... Read more »

Posted on : Friday , 5th February 2016

Africa sole continent likely to achieve double-digit economic growth by 2025

Africa is set to become the second fastest growing continent by 2025, with GDP set to touch US$4.5 trillion joburgdevelopment paulsaad flickrRapid urbanisation could lead to several Africans living and working in large cities. A Frost and Sullivan report, in the form of a video titled Mega Trends in Africa, states that urbanisation, mobility, infrastructure, natural resources, telecom and inter-regional trade could make Africa the.... Read more »

Posted on : Friday , 5th February 2016

East Africa Near to Exporting Power

East Africa wants to become a leading electricity exporter in Africa after reaching initial agreements with several neighbouring countries writes JOHN SAMBO. Gosaye Mengistie Abayneh, the CEO of Ethiopian Electric Utility (EEU) said recently, "Our vision is to interconnect the entire network in the African continent and beyond. "This is a very good opportunity for us. There is a very good know-how these days and a.... Read more »

Posted on : Thursday , 4th February 2016