Market News Page No. 359| Africa Business News

Tripartite Dam Gets U.S.$138 Million From African Bank

Kigali — The African Development Bank (AfDB) Group recently in Abidjan, formally approved $138 million of loans and grants to finance the Ruzizi III Hydropower Plant Project. The AfDB said in a statement: 'The project will displace significant amount of fossil based power in the ECGLC region and increase the percentage of green energy. Additional benefits of the project include the creation of permanent and temporary jobs and a.... Read more »

Posted on : Monday , 4th April 2016

Cameroon: Over Fcfa 100 Billion for Projects

Over FCFA 100 billion have been earmarked as Public Investment Budget for the South West Region this year. Some 191 projects have been endorsed for the region against 179 for 2015. Target is that contracts for executing the projects be awarded by April so as to give contractors enough time to execute them. Giving an exhaustive presentation of a circular of the Minister of Finance on the budget, an official from the ministry, Gideon Barfree,.... Read more »

Posted on : Monday , 4th April 2016

IFC Invests in Co-Op Bank to Support Entrepreneurs and Housing Finance in Kenya

IFC, a member of the World Bank Group, announced today that it will provide a $105 million loan to the Co-operative Bank of Kenya (Co-op Bank) to support lending to small and medium businesses, women entrepreneurs and the housing sector. The second largest bank in Kenya by total assets, Co-op Bank has 143 branches across the country and a subsidiary in South Sudan. Small and medium enterprises account for eighteen percent of the Bank's.... Read more »

Posted on : Monday , 4th April 2016

East Africa: Ericsson Data Analytics Solution Captures Rise of the Internet of Things

Ericsson has launched the User & IoT Data Analytics solution at the Consumer Electronics Show (CES) event, held January 6 to January 9, 2016 in Las Vegas, US. The solution will help operators improve internal efficiency in managing data from subscribers and Internet of Things (IoT) devices while exploring new cross-vertical IoT applications. "The launch of the User & IoT Data Analytics solution is an important step in Ericsson's.... Read more »

Posted on : Monday , 4th April 2016

Ethiopia: New Incentive Rates for Local Manufacturers

The Ministry of Finance & Economic Cooperation (MoFEC) is ranking manufacturers by value addition for duty free benefits based on a new directive expected to be approved this month. This will happen by replacing the existing directive, No. 35/2013, which gave import privileges for only 30pc or more value addition. The new one will have a wide range from 0.05pc to 40pc A committee established a year ago including members from the.... Read more »

Posted on : Monday , 18th January 2016

German solar manufacturer Renusol enters African market

German photovoltaic (PV) mounting systems manufacturer, Renusol has expanded its market frontiers to South Africa. Renusol specializes in sophisticated solutions for installing photovoltaic systems. With their extensive experience in the solar industry, they develop, produce and sell modular systems for the safe mounting of solar systems to all types of roofs. Renusol is represented in all core markets in Europe and.... Read more »

Posted on : Monday , 18th January 2016

Limak Cement Group penetrates the African market

Limak Cement Group, a Turkey based Cement Company has issued an acquisition request of cement operations and supply in Africa. The company has expressed its interest in some of the African countries such as Mozambique and Ivory Coast. Among other major players in Africa cement market include Lafargeholcim, Germany’s Heidelberg and South African-based PPC. Dangote Cement is also a force to reckon with. The company.... Read more »

Posted on : Monday , 18th January 2016

Siemens appoints Partner for Building Technologies in Kenya

Siemens Building Technologies Division, recently appointed International Energy Technik Limited (IET), a leading electrical engineering company in Kenya as its partner for Building Technologies in East Africa. In addition to the building technologies portfolio, International Energy Technik has represented Siemens AG for more than 25 years in industrial Automation and Drives products and services in the East African region. International.... Read more »

Posted on : Monday , 18th January 2016

BUILDEXPO AFRICA 2016 ramps up with bigger, better venue

Africa’s largest international trade exhibition for the Building and Construction industry BUILDEXPO AFRICA returns this year with a much brighter event at a brand new, larger and conveniently located venue. From June 04 - 06, 2016, The Carnivore in Nairobi, Kenya,will see tens of thousands of buyers and visitors from across the world foster partnerships and collaborations in the rapidly expanding Industry. With as much as 15,000.... Read more »

Posted on : Saturday , 16th January 2016

East Africa Marching Towards Industrial Development

The secret behind becoming prosperous, ensuring a turnaround in lifestyle, among others, resides in spurring industrial development. Although many developing countries envisage to become industry hubs, they fail to adopt the right policies and strategies. Constrained by lack of financial muscle and skilled human power, their ambitions to industrial development could not come anywhere near success. But Ethiopia has mapped out a.... Read more »

Posted on : Saturday , 16th January 2016

IFC issues African Country first green bond for climate-friendly initiatives

World Bank group IFC has issued a green bond worth US$71mn for climate-friendly investments in emerging markets windenergy jimhammer flickrThe IFC bond will be used for investments in renewable energy and environment-friendly initiatives. The proceeds will be used to support investments in renewable energy, energy efficiency, and other areas that aim to reduce greenhouse emissions. The bond has been issued in South African currency or.... Read more »

Posted on : Saturday , 16th January 2016

Olam and InVivo to develop animal feed solutions in Nigeria

Global agri-business entity Olam International Limited and InVivo Animal Nutrition & Health have signed a consulting agreement to develop expertise in animal feed production in Nigeria The agreement, which is for two years, will involve technical assistance and sharing of expertise to jointly develop solutions and products in the animal feed space. The knowledge transfer between the two companies will help.... Read more »

Posted on : Friday , 15th January 2016