Market News Page No. 152| Africa Business News

Tanzania and Africa HVAC & R market

Africa is one of the biggest emerging market for the HVAC and R industry around the world. Rising investments to develop infrastructure and growing disposable income of people in some countries of the region are some of the key factors driving the growth of air conditioners market in the region. According to the United Nation’s report, the global air conditioner stock is estimated to increase from 660 million units in 2015 to more than 1.5.... Read more »

Posted on : Thursday , 13th December 2018

Ethiopia awards 13 billion Br Road Projects to companies

The Ethiopian Roads Authority (ERA) awarded eight road projects out of the total nine to different companies late last week, the ninth one being won by a Chinese firm who made the highest offer to construct a 68.8Km alternative road for Limalimo. Founded in 1993 in Beijing, Beijing Urban Construction Group Co. Ltd offered 31 million Br a kilometre to construct the road that extends from Debarqe to Zariema, in Amhara Regional State. The company.... Read more »

Posted on : Wednesday , 12th December 2018

USD 1.2 billion mega housing project announced by Ethiopia for Addis Ababa

Keeping the importance of secure low cost housing in mind, plans have been announced by Ethiopia’s Federal Housing Corporation (FHC) to build 16,173 homes in the capital city of Addis Ababa at an estimated cost of around $1.2bn. The housing will be allocated for rental houses to employees of businesses and the state officials in a 50-50 division. In the conference held by the corporation for the various stakeholders the deputy head.... Read more »

Posted on : Wednesday , 12th December 2018

Simret, a high-grade silver discovered in East Africa

Altus Strategies a UK-based mining company, announced the revelation of what the company calls “the Simret silver prospect” at its 100%-owned Daro project, located in the Tigray Regional State in East Africa. In a media statement, the project generator MNC said that Simret showed silver grades that include 944 g/t Ag and 540 g/t Ag, which were taken from rock chip sampling of quartz veins. Lead and gold were also present with grades.... Read more »

Posted on : Tuesday , 11th December 2018

Rwanda Signs Nuclear Agreement with Russia

Rwanda minister of infrastructure Claver Gatete, and ROSATOM's director general, Aleksey Likhachev, signed a co-operation agreement aimed at the construction of a Center for Nuclear Science and Technology (CNST) and of a Nuclear Power Plant in Rwanda in the field of peaceful uses of atomic energy. The cooperation agreement will set a foundation for active conversation between the two Nations in the field of peaceful implementation of atomic.... Read more »

Posted on : Friday , 7th December 2018

Kenya govt. to construct 28 km connecting highway at the JKIA

A 28 Km highway bridge is decided to be constructed by the Kenyan government, which will connect Jomo Kenyatta International Airport (JKIA) with Kangemi market on the Nairobi-Nakuru highway in order to control traffic congestion in the Kenyan capital city. James Macharia the transport Secretary confirmed the reports saying that engineers have been deployed at the airport to assess the ground for the construction and help inform the final design.... Read more »

Posted on : Thursday , 6th December 2018

Regional and Continental Integration for Africa’s Development

At the African Economic Conference (AEC) in Kigali where more than 700 participants including policymakers, academics, development partners and financiers from across Africa and beyond were present in order to discuss ways to accelerate progress in infrastructure integration,that is including the removal of barriers for movement of people goods and services across borders within Africa. This African economies were called by the experts.... Read more »

Posted on : Wednesday , 5th December 2018

US $2bn integrated community development project to be constructed in Ethiopia

US $2bn has been set aside for integrated community development project in Ethiopia's capital, Addis Ababa which will entail 4,000 apartment houses, recreation centers and three star hotels. During the launch of the project, the country’s Prime Minister, Abiy Ahmed said that according to the master plan, 1,600 households current dwelling will be demolished and later on absorbed in the proposed apartments. Integrated community.... Read more »

Posted on : Friday , 30th November 2018

EIB to support four new projects in Kenya and EA

Four new projects in Kenya and EA will get a great support from "The European Investment Bank (EIB)" through the loan that worth US$78mn. This will help Kenya and East African region to gain wider support to its companies. The companies that will benefit includes telkom Kenya, the BCS Group, the Medical Credit Fund and Novastar II. It has also been reported that, in order to reduce the risk of currency that has liability to.... Read more »

Posted on : Tuesday , 27th November 2018

Tanzania to come up with HydroPower plant

It has been announced that the hydropower plant preparations at Stiegler's Gorge in Tanzania are underway. This hydropower plant preparations are proposed for 2,100MW Rufiji hydropower plant. This preparations will benefit the country as the project will have a gross output of 5,920GWh and also it is expected that the project will double the country's power generation capacity. This project is nearly of $307 million. Mr. Medard.... Read more »

Posted on : Tuesday , 27th November 2018

Tea Export Increased by 13% from East Africa to the rest of the World

Tea export volumes from East Africa to the rest of the world have risen by 1.4 million kilograms, representing a 13% increase from the comparable previous year, data from the East African Tea Export Auction reveals. A latest auction report has shown that a total of 10.4 million kilogramme bags of tea were exported, more than the 9 million kilogramme bags exported around the same time the previous year. This is according to records from the.... Read more »

Posted on : Tuesday , 27th November 2018

Investment and Infrastructure development in EA OIL & GAS

The Head of East Africa oil & gas sector at Standard Bank, Mr. Maina Kigundu, said that "Foreign exchange burden of importing and distributing the refined oil and gas products will maintain balance of payment challenges while liberating much needed foreign exchange for more strategic human development." He also mentioned that there is an increase in foreign exchange that is required to meet the regions expanding need for oil and.... Read more »

Posted on : Saturday , 24th November 2018