Market News Page No. 337| Africa Business News | Afrotrade

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Africa: Intra-African Trade to Reach U.S. $250 Billion By 2021

The African Export-Import Bank (Afreximbank) is to implement a new strategy aimed at driving industrialisation across Africa and increasing intra-African trade by, at least, 50 per cent in the next five years. The Afreximbank Intra-African Trade Strategy, approved by the Board of Directors at its quarterly meeting in Johannesburg on Saturday, will see the Bank work with partners to ramp up trade among African countries to $250 billion.... Read more »

Posted on : Wednesday , 13th April 2016

Kenya: Cytonn Begins Construction of Sh2.5 Billion Housing Estate in Nairobi

Real estate and investment firm Cytonn has begun construction of its Sh2.5 billion lifestyle community in Ruaka on the outskirts of Nairobi. The Alma, which is to be completed within three years, is targeting the middle to lower-middle income class with discerning tastes for modern day apartments. Cytonn is offering the 1, 2 and 3 bedroom apartment options for potential buyers. "Our deal pipeline serves the.... Read more »

Posted on : Wednesday , 13th April 2016

Kenya: Deputy President Seeks Sh8 Billion for Roadworks

A team chaired by Deputy President William Ruto now wants governors to be given Sh8 billion for the construction and maintenance of county roads after they were denied funds in the Division of Revenue Bill, 2016. The Intergovernmental Budget and Economic Council (IBEC), which brings together the two levels of government, has proposed that the allocation be included in the Bill, which is currently before the Senate, after being passed by.... Read more »

Posted on : Wednesday , 13th April 2016

Kenya: Two Geothermal Plants to Get Sh3 Billion Funding

The push for clean energy has received a major boost after a Sh3 billion ($29.65 million) concessional loan was approved to finance two geothermal power projects in Menengai with an estimated total output of 70 megawatts (MW). A clean energy fund, backed by six multilateral development banks will provide the loan. The Climate Investment Fund said the loan endorsed through its Clean Technology Fund component will help expand the.... Read more »

Posted on : Tuesday , 12th April 2016

Angola: 20,000 Hectares Made Available For Investment in Agriculture

Matala — Over 20,000 hectares of land have been made available for national and foreign entrepreneurs interested in investing in the agricultural sector in Matala Municipality, southern Huila Province, informed on Monday the Matala administrator, Miguel Vicente. Speaking to ANGOP, after carrying out a field visit to the irrigated perimeter of Matala, Miguel Vicente said that the municipality has arable lands and abundant water.... Read more »

Posted on : Tuesday , 12th April 2016

Tanzania: Danish Envoy Urges More Investment in Agriculture

Dar es Salaam — Proper investment in agriculture using creative and innovative techniques can bring about the desired economic changes in the country. This, however, requires stakeholders to identify factors that can be used to attract more youth to engage in the sector. Denmark evoy to Tanzania, Mr Einar Jensen, gave the advice yesterday while launching the youth agrifood companies incubated at the Sokoine University.... Read more »

Posted on : Tuesday , 12th April 2016

Roadworks Estimated at Shs13 Billion Begin in Uganda

Kabale — Prime Minister Ruhakana Rugunda has cautioned contractors not to delay completion of government projects, especially in the road sector. Dr Rugunda, who was last Friday presiding over a ground-breaking ceremony for the construction and tarmacking of three feeder roads in Kabale Municipality, said delayed government projects not only increase the cost of such projects but also delay delivery of services to the people who.... Read more »

Posted on : Tuesday , 12th April 2016

U.S.$2 Million Mosquito Net Factory Opens In Uganda

Kampala — Trade minister Amelia Kyambadde has commissioned a $2.3m (Shs7.82b) mosquito net factory with an annual production capacity of three million insecticide-treated mosquito nets. Located in Luzira Industrial Park, M/s Sino Africa Medical Devices Company Limited in partnership with the Tianjin Yorkool International Co Limited manufactures polyester insecticidal treated mosquito nets for local consumption. Ms Amelia.... Read more »

Posted on : Tuesday , 12th April 2016

South Africa: First Hydrogen Fuel Cell Forklift Unveiled

South Africa's hydrogen fuel cell industry received a boost on 31 March with the unveiling of a prototype hydrogen fuel cell forklift and refuelling station at Impala Refining Services in Springs, east of Joburg. Over the past three years, Impala Platinum Holdings (Implats) has provided HySA Systems with funds of R6-million to enable the prototype development. Implats plans to use hydrogen fuel cell technology as its main source of.... Read more »

Posted on : Tuesday , 12th April 2016

Comesa Trains Food Distributors in East African Region

Ugandan small and medium-sized companies in the food value chain have received a boost from the Common Market for Eastern and Southern Africa (Comesa) through the training of 80 firms. The trained food distributors are expected to start providing products that meet international sanitary and phytosanitary standards. Ugandan companies will now be able to sell their food to supermarkets, hotels, as well as regional and international.... Read more »

Posted on : Monday , 11th April 2016

Cement Firms Eye Construction Boom in East Africa

Mombasa Cement Ltd plans to invest Ksh7.3 billion ($73 million) to expand the factory's production capacity. The company is eyeing the market created by construction boom in East Africa and other countries in the larger region. The investment in a new clinker and cement unit is expected to ease pressure on prices, which dropped to $7 per 50 kilogramme bag from $8 in 2014. The firm now has a unit each for clinker and.... Read more »

Posted on : Monday , 11th April 2016

Rwanda: American Firm Installs Solar Power At the Kigali Genocide Memorial Centre

Centennial Generating Company, a Washington DC-based company that provides power systems for commercial and industrial customers has installed a solar power system at the Kigali Genocide Memorial Centre which will bring down power costs by 20 per cent. The memorial centre which heavily depends on financial handouts is grappling with high costs of power with management claiming they at times spend Rwf400,000 monthly on fuelling the.... Read more »

Posted on : Monday , 11th April 2016

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