Market News Page No. 564| Africa Business News | Afrotrade

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Two solar power plants to be constructed in Nigeria at US$106m

Two solar-powered plants are set to be constructed in Kumbotso, Kano state and Karu, Abuja state of Nigeria. The project will require US$106m to fund the construction, and each each solar power plant will give off 50MW. A consortium of international investors, Global Business Resource of USA this week submitted a proposal to the relevant Nigerian ministry, in which they also propose to carry out Geographic Information System (GIS).... Read more »

Posted on : Monday , 29th September 2014

Sub-Saharan Africa's infrastructure spending to exceed US$180 million by 2025, says PwC report

The overall infrastructure spending in the sub-Saharan region is projected to grow by 10 per cent a year over the next decade and will exceed US$180bn by 2025, a new report by PricewaterhouseCoopers (PWC) reveals Nigeria and South Africa dominate the infrastructure market, but other countries like Ethiopia, Ghana, Kenya, Mozambique, and Tanzania are also poised for growth, the report added. “Growth prospects in most of the.... Read more »

Posted on : Monday , 29th September 2014

Rwanda's convention centre to become iconic landmark

Rwanda is putting up a landmark conference centre as part of its plans to reap from conference tourism. Kigali Conference Centre, a dome-like construction being built mainly using steel, will have a seating capacity of 2,600. According to Frank Murangwa, the Meetings Incentive Conference and Events (MICE) Division Manager at Rwanda Development Board, the convention centre will have 10 meeting rooms of varying sizes and the main arena which.... Read more »

Posted on : Monday , 29th September 2014

IFC acquires stake, injects Sh6b in Kenyan cement firm

The cash will enable National Cement Company expand its operations and create over 6,000 jobs he International Finance Corporation (IFC), a private sector lending arm of the World Bank, will inject Sh5.9 billion ($70m) into National Cement Company Limited, a member of the Devki Group Of Companies formed in 2008. The cash injection will enable the Athi River-based firm expand operations, increase local supply of cement and promote.... Read more »

Posted on : Saturday , 27th September 2014

Indonesia pays more attention to Sub-Saharan Africa for Construction Services

Jakarta (ANTARA News) - Indonesia pays more and more attention to Sub-Saharan Africa as promising emerging markets in the next decades. At a roundtable discussion on opportunities for investment and trade cooperation in construction services and products in Sub-Saharan Africa held recently by the Ministry of Foreign Affairs (MOFA), Nigeria, Mozambique and South Africa offered many opportunities to would-be investors as gateways to doing.... Read more »

Posted on : Saturday , 27th September 2014

China to build new East Africa railway line

Formal agreements for plans to build a new railway line in East Africa with Chinese help have been signed in the Kenyan capital, Nairobi. It is to run from Mombasa to Nairobi and will extend eventually to Uganda, Rwanda, Burundi and South Sudan. In Kenya, the line is to replace a narrow-gauge track built more than 100 years ago during British colonial rule. China is to finance 90% of the first stage, put at $3.8bn (£2.3bn), with work.... Read more »

Posted on : Saturday , 27th September 2014

Tanzania set to be one of Africa's top cement maker

Cement production is becoming an important manufacturing activity that would contribute immensely to Tanzania’s economic growth, in terms of exports and job creation. The cement industry has of late seen more key players coming in, the move that would lead to increased production to make the country the largest cement producer in Africa. Locally, the situation will stir up competitions that would force prices to decline, to benefit.... Read more »

Posted on : Saturday , 27th September 2014

Mega steel plant launched in Dar

The Kamal Steel Limited plant, to produce reinforced bars, flat bars, angle bars, under the continuous casting machine technology, would be the biggest in terms of capacity in East Africa. Speaking at the launch of the plant’s expansion at Changombe in Dar es Salaam, Mr Pinda said that in order to reach the targets of Vision 2025, it was important that industries were developed since one of the important sectors of the economy was.... Read more »

Posted on : Saturday , 27th September 2014

Museveni opens biggest steel plant in East Africa

President Yoweri Museveni has commissioned the new Ushs320b Roofing’s Group mega steel factory in Namanve, Mukono district urging locals to learn from the work methods of Ugandans of Indian origin to fast track development. Established in 1994 by Sikander Lalani, Roofings Group is now the largest steel factory in East and Central Africa and is worth an estimated US$280m (Ushs782b). The latest Ushs320b expansion has.... Read more »

Posted on : Saturday , 27th September 2014

Kenya s finance bill offers a mixed picture for oil and gas investors � Africa Oil

According to the Canadian explorer the abolishment of the previous withholding tax regime is a positive step that will allow farm out transactions to continue in a tax effective manner. “Such transactions are heavily relied upon by the oil and gas industry in order to attract companies with the appropriate technical and financial capabilities to projects over the course of their life cycle, thereby mitigating technical and.... Read more »

Posted on : Saturday , 27th September 2014

ERHC enters second phase of PSC in Kenya s Block 11A

Houston-based independent oil and gas company ERHC Energy has announced it is entering its second phase in Block 11A after completing the parties’ obligations under the first phase of the exploration program. This follows the completion of the 2D seismic program last month which will shape up the basis for continuation of exploration under the second phase. Under the second phase of exploration, which lasts a.... Read more »

Posted on : Thursday , 25th September 2014

Solo Oil receives $5 million debt facility to fund Tanzanian projects

Solo Oil Plc has announced that it has drawn down the first US$1 million of a US$5 million 3-year debt facility secured today, and has closed a Placing of £760,000 at 0.95 pence per share and a conditional Placing of £1.5 million at 0.95 pence per share which relates to a Placing and an Equity Swap Agreement with YA Global Master SPV, Ltd. (“YAGM”). YAGM has agreed with the Company that they will not.... Read more »

Posted on : Thursday , 25th September 2014

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