Market News Page No. 576| Africa Business News | Afrotrade

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US$45.5m multi-storey car park to be constructed in Nairobi, Kenya

City Hall Nairobi has announced a tender notice for the construction of a 3000 multi-storey car park in Nairobi’s Central Business District (CBD). The project involves developing an AT Sunken Car Park building at a cost of US$45.5m. The project will be undertaken through a public private partnership where the Government of Nairobi County is expected to provide the land for the project, while investors will provide the funds.... Read more »

Posted on : Monday , 11th August 2014

Freedom Property Fund kicks off new residential developments

Newly-listed Freedom Property Fund today announced it has launched several major projects, including two residential property developments, which will boost its portfolio of income-generating rental stock. It is also unlocking capital by releasing residential properties for strategic sale to the market. Following Freedom’s successful listing on the JSE Main Board on 12 June 2014, it has commenced and progressed several.... Read more »

Posted on : Monday , 11th August 2014

African, U.S. Leaders Announce New Partnerships to Help Farmers

The New Alliance for Food Security and Nutrition now has commitments from private investors totaling more than $10 billion, U.S. and African officials announced at the U.S.-Africa Leaders Summit August 5. These new investments are expected to create about 650,000 jobs and reach over 5 million small-holder farmers in initial New Alliance and Grow Africa countries, the U.S. Agency for International Development (USAID) said in a press.... Read more »

Posted on : Monday , 11th August 2014

SAPA welcomes commitment to the NDP

The South African Poultry Association (SAPA) welcomed the commitment made by President Zuma, at the State of the Nation address on the 17 June 2014 to the agricultural objectives as set out in the National Development Plan Poultry-Africa-hyper7proSAPA has put plans in place to transform South Africa's local poultry sector. (Image source: hyper7pro) Kevin Lovell, CEO of SAPA, said in aiming for a five per cent economic growth rate and.... Read more »

Posted on : Monday , 11th August 2014

East Africa dairy farmers benefit from agricultural training

East African farmers have benefitted from agricultural training, with the volume of milk sold by farmers in the East Africa Dairy Development (EADD) project increasing by 102 per cent over three years Dairy farmers Gates FoundationThe EADD project set a target to double the earnings of 17,000 dairy farmers in Kenya, Uganda and Rwanda. (Image source: Gates Foundation) The EADD joined forces with Heifer International, the World.... Read more »

Posted on : Monday , 11th August 2014

KARI develops new banana and rice varieties

The Kenya Agricultural Research Institute (KARI) has developed new banana, rice and cassava varieties for farmers in Kenya Kenyan-farmer-K. TrautmannThe new banana, rice and cassava varieties for Kenyan farmers will prevent them from recycling seeds during the planting season. The new FHIA-17 banana variety matures within 12 months and has an impressive number of banana fingers and weighs more than 100 kg. “The FHIA-17 is suitable.... Read more »

Posted on : Monday , 11th August 2014

Kenya's avocado sub-sector shows promising future

With an estimated annual production of 115,000mt, Kenya’s avocado sub-sector has experienced further growth as investments increase in the counties and new export markets open up avocado-olle svenssonMore than 70 per cent of total avocado production comes from smallholder farmers. (Image source: olle_svensson) Foreign investors setting up avocado factories in the country have also improved prospects among local farmers. Each year,.... Read more »

Posted on : Monday , 11th August 2014

Renewable energy needs guarantees for investors in East Africa

The slow pace with which renewable energy projects have been rolled out across Africa may prove to be an advantage in a few years. As they catch up, African countries could benefit from technological developments and falling costs of wind and solar power. Norman Ndaba, Power and Utilities Sector Leader at global financial advisory firm Ernst & Young, says telecommunications developments in Africa may be an indicator of how renewable.... Read more »

Posted on : Friday , 8th August 2014

A commercial agreement endorsed to facilitate East Africa Oil and Gas Free Port Project

The parliament of Ghana has endorsed a commercial agreement between the Government, Lonrho Ports Ghana Limited and Atuabo Free Port Company Limited to facilitate construction of the Ghana Oil and Gas Free Port. The Ghana Oil and Gas Free Port will be set up at Atuabo in the Western Region. The port is also expected to come into full operations in 2016 and will assist in meeting Ghana’s logistics and support requirements in.... Read more »

Posted on : Friday , 8th August 2014

Quantum Power to provide Tema LNG with importation storage in East Africa

Quantum Power Gas is enthusiastic in developing the Tema LNG importation storage, re-gasification and delivery facilities. The company is a subsidiary of Quantum power, a pan African energy and infrastructure industrial investment platform, and has signed a partnership agreement with Golar LNG to see completion of the project. Golar is expected to provide some certain technical, engineering, design and construction of the required.... Read more »

Posted on : Friday , 8th August 2014

Kenya: China to Ship in 5,000 Foreign Workers for the Mombasa-Nairobi Standard Gauge Railway Project

China Road and Bridge Corporation will bring in 5,000 workers to work on the standard gauge railway, Kenya Railways MD has said. The works on the 609km railway is expected to kick off in September after a frosty start that was marred with claims of corruption. Parliament gave the project a clean bill of health. "The contractor will bring in the workers and get additional ones locally. We have also.... Read more »

Posted on : Friday , 8th August 2014

SH80 MILLION POWER PROJECT LAUNCHED IN HOMA BAY

Homa Bay: A power project, which will cost Sh80 million to develop, has been unveiled in Homa Bay county. The ambitious initiative, being undertaken by Kenya Power, is expected to end frequent power outages in the area. Dubbed "Boresha Umeme Homa Bay", the initiative will increase electricity supply in the area to six times the current flow. Kenya Power Managing Director Dr Ben Chumo said the move is.... Read more »

Posted on : Friday , 8th August 2014

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