Market News Page No. 558| Africa Business News | Afrotrade

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Coca-Cola launches PET recycling scheme in Kenya

According to the East African, the company launched its drive to have more of the country's used polyethylene terephthalate (PET) recycled, in collaboration with bottle maker Safepak and the Highlands Mineral Water Company. The three organisations aim to be recycling 70 per cent of the plastic containers they release to consumers by 2015. Bob Okello, public affairs manager for Coca-Cola East and Central Africa, told the news provider that it was.... Read more »

Posted on : Wednesday , 15th October 2014

Drilling rig for 200,000bpd Egina oilfield sails to Nigeria

A drilling rig, christened ‘West Jupiter,’ which will be used for the drilling of all the oil wells at the 200,000 barrels per day Egina deepwater oilfield, being developed by Total Upstream Companies in Nigeria has sailed away from South Korea, thus demonstrating another milestone in the development of the $3.5 billion Egina project reports This Day. Speaking during the ground – breaking ceremony of the.... Read more »

Posted on : Friday , 10th October 2014

Shell Logo Shell Sells OML 29

Oil major, Royal Dutch Shell has agreed to sell the prolific Oil Mining Lease (OML) 29 to a consortium led by oil-trading firms Aiteo and Taleveras Group in a deal in which the consortium will pay $2.58 billion for the block and an associated pipeline according to This Day. Shell had indicated its plan to sell four of its onshore oil blocks – OMLs 18, 24, 25 and 29 – in addition to Nembe Creek Trunkline, which for.... Read more »

Posted on : Friday , 10th October 2014

Refining capacity in Nigeria, lower than other African countries � Report

Nigeria, despite its status as Africa’s top crude oil producer and exporter, continues to trail other African countries such as Algeria, Egypt, Libya and South Africa in terms of refining capacity reports The Punch. The World Oil and Gas Review 2014, released this week, shows Egypt as having the highest primary refining capacity in 2013 among the five countries, followed by Algeria and South Africa. Primary capacity.... Read more »

Posted on : Friday , 10th October 2014

Made-in-Nigeria Hyundai Cars Hit Market

Hyundai Motors Nigeria Limited has started phased delivery of low priced made-in-Nigeria cars assembled at the company's plant in Lagos to its provisional dealers nationwideThis is coming barely three months after Stallion Group owners of the multivehicle plant roll-out made-in-Nigeria Nissan range of vehicles in April.The Chairman of Stallion Group, Mr. Sunil Vaswani who broke the news recently said the new vehicles "will be affordably.... Read more »

Posted on : Thursday , 9th October 2014

Lancet Kenya plans $2.3m expansion into Rwanda with 3 labs in Kigali

Lancet Kenya, a diagnostic laboratory, plans to set up shop in Rwanda from October at a cost of Ksh200 million ($2.3 million) as it looks to cement its regional business. The money will be spent on equipping the Kigali lab and building three other facilities, including one in Butare. "Our intention is that by the end of the year, we should have three laboratories in Kigali, after which we will pursue partnerships to increase our.... Read more »

Posted on : Thursday , 9th October 2014

U.S. Investors to Use Sh50 Million On Siaya Hospital

Siaya Governor Cornel Rasanga yesterday said they will sign an MoU with the University of Tennessee, which is one of the world's leading institutions in medical, healthcare training and medical research. "The institution will facilitate the upgrading of the facility to a world class healthcare institution and a centre of excellence in the provision of healthcare," Rasanga said. He was accompanied by Deputy Governor Ouma Onyango.... Read more »

Posted on : Thursday , 9th October 2014

Rwanda, Uganda sign medicine imports deal

Rwanda and Uganda have signed a bilateral agreement to open their markets for pharmaceutical products. In addition, the deal will boost the war against the cross-border trade in fake drugs. The deal will enhance exchange of information in pharmaceutical products with a framework to promote medical research and development of the pharmaceutical industry. Officials said the two countries will access drugs manufactured by companies across.... Read more »

Posted on : Thursday , 9th October 2014

Kenya Rx pharma market to grow 11.8% a year

Kenya’s prescription pharmaceuticals market was worth $423.2 million last year, and is set to increase at a compound annual growth rate (CAGR) of 11.8% to 2019, say new forecasts. The market is heavily dependent on the private clientele, and affordability remains a primary restraint, together with low reimbursement rates, says the research, from Frost & Sullivan. Increasingly, urban consumers constitute Kenya’s primary.... Read more »

Posted on : Thursday , 9th October 2014

Nairobi Showgoers Thrilled By New Farming Technologies

The Nairobi ASK trade fair was held last week and the main focus was on farming technologies. The theme of this year's show was enhancing technology in agriculture and industry for food security. Many thronged the fair to get knowledge and information on the best farming technologies that would help them cope with the changing patterns of the weather that are being experienced currently. Here are a few of the technologies that were.... Read more »

Posted on : Thursday , 9th October 2014

Kenyan farmers benefit from aid programme and Kiwi know-how

Twelve hundred smallholder avocado farmers in the central highlands of Kenya are benefiting from a five-year aid project involving Plant & Food Research and edible oils company Olivado. The New Zealand Aid programme has provided up to $4 million over five years to Plant & Food to help improve the productivity and quality of production from the farmers who supply Olivado’s Nairobi factory. The smallholder farmers generally have.... Read more »

Posted on : Thursday , 9th October 2014

Reforming Agricultural Sector to Boost Production and Prices, Says President

President Uhuru Kenyatta has said his Government is undertaking major reforms in the agricultural sector to boost production and increase profits for farmers. He said various agricultural institutions are being restructured with the aim of harmonizing operations so as to increase production in the sector. Speaking when he officially opened this year's Nairobi International Trade Fair, President Kenyatta said what is remaining.... Read more »

Posted on : Thursday , 9th October 2014

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