Market News Page No. 291| Africa Business News | Afrotrade

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President Uhuru Kenyatta to launch second phase of SGR construction

President Uhuru Kenyatta is set to launch construction of the second phase of the Standard Gauge Railway (SGR) in a fortnight even as Kenyans demand for a bigger stake in the project. The planned launch of the new phase, from Nairobi to Naivasha, comes at a time when there is growing discontent, especially from the youth that the Chinese are taking up jobs meant for locals. During yesterday's Youth Summit at State House,.... Read more »

Posted on : Tuesday , 4th October 2016

Kenya: County to Build Sh280 Million Stadium to Boost Growth

Thara-Nithi county government is set to construct a stadium that will cost Sh280 million in efforts to promote growth. Chuka/Igambang'ombe MP Muthomi Njuki said the facility, which is one of five mini-stadiums to be constructed in the county, will boost the economy. He said youths will also benefit by being hired to carry out construction work. "The work will create job opportunities for many people.... Read more »

Posted on : Tuesday , 4th October 2016

Ethiopia Set to Gain Transport Lifeline to Sea with New $4 Billion Railway

Construction of a Chinese-funded electric railway, linking Ethiopia’s capital along its main trading route to neighboring Djibouti, has been completed, providing the African nation with much-needed improved rail access to a seaport. The $4 billion project, implemented by China Railway Engineering Corp. and China Civil Engineering Construction Corp. will be commissioned next month. The government is pinning its hopes.... Read more »

Posted on : Monday , 3rd October 2016

Tanzania: Nigerian Firm Eyes 1.4trn/ - Power Project in Dar

Nigerian company, Egbin Power Plc, has expressed interest to invest 630 million US Dollars (about 1.4trn/-) in construction of a natural gasfired power plant in Tanzania. The major boost to the country's power generation is the newest public-private partnership project expected to turn around the energy sector in the East African nation. Speaking to Tanzanian journalists on a five-day tour of Nigeria yesterday, the firm's Chief.... Read more »

Posted on : Monday , 3rd October 2016

Kenya: Geothermal Development's Turn to Profit Tilts Energy Mix

The Geothermal Development Company (GDC) broke the loss making streak to post Sh1.6 billion net profit in the full year ending June 2015 after inking a deal to sell steam from its Olkaria wells to the government. The State-owned firm generated its first revenue of Sh2.5 billion in the period under review being earnings from sale of underground steam to the Kenya Electricity Generating (KenGen) Co to produce geothermal power. GDC sold.... Read more »

Posted on : Monday , 3rd October 2016

Africa gold reserves now worth $1.5 TRILLION

A new report by SNL Metals and Mining shows Africa at the top of tables when it comes to the value of gold still in the ground. Using the combined value of reserves and resources reported by explorers and mining companies active on the continent, the research company, calculated a figure of $1.48 trillion for primary gold projects. Canada and the US came in second with gold in situ values as at September 8 of $1.26.... Read more »

Posted on : Monday , 3rd October 2016

Woodlands launches biofuel boiler

WOODLANDS Dairy, the producers of First Choice dairy products in the Eastern Cape, launched the first-ever Biofuel Boiler in the South African diary industry on Tuesday - a R30 million capital investment. The boiler’s primary fuel is biomass in the form of sustainable wood chips proposed and provided by MTO Forestry. The partnership with Woodlands Dairy allowed the installation of the Green Bio-Mass fuelled boiler system.... Read more »

Posted on : Monday , 3rd October 2016

Biggest LED screen in East Africa switched on in Nairobi

Primedia OOH Africa recently launched a new Super-LED screen in the heart of Nairobi, Kenya's capital city and the economic hub of East Africa. The screen measures 12m x 9m, and is the largest to be installed anywhere across Kenya, Tanzania and Uganda. In fact, the screen is 33% larger than the 4.5m x 18m Super-LED screens found on the N1 and M1 Highways in Johannesburg and Centurion. “Located on the busy Uhuru.... Read more »

Posted on : Monday , 3rd October 2016

Canon launches imageFORMULA ScanFront 400: A high-performance network scanner for rapid document capture

Canon, world-leader in imaging solutions, announced the new imageFORMULA ScanFront 400, a high-performance standalone network scanner, expertly designed to capture a wide range of documents and feed into fast-paced business workflows. High speed, high quality everywhere The imageFORMULA ScanFront 400 allows for high-speed, versatile scanning of a wide range of documents including A4, A5, business cards and.... Read more »

Posted on : Monday , 3rd October 2016

Africa: Dar Is Africa's Bright Spot in Economic Growth

Tanzania is among a few countries in Africa with robust growth of economy as the continent is expecting growth to fall to its lowest level in two decades due to a slump in commodity prices and continuing weakness in global growth, a World Bank report says. With economy on track to expand by 7.2 percent in 2016, up from 7 percent in 2015, the East African country joins Ethiopia, Rwanda, and Ivory Coast as few bright spots in Africa.... Read more »

Posted on : Monday , 3rd October 2016

Incentives to attract investment in Kenya's automotive industry

Kenya's removal of excise duty on locally assembled cars will boost the industry, but the government must make power supplies cheaper and address other concerns to draw more investment, the automobile industry association chief said on Thursday. With little growth in mature markets, automakers are looking to tap into emerging African markets, but there is plenty of competition on the continent for where they might.... Read more »

Posted on : Monday , 3rd October 2016

Kenya ranked ninth in Africa in attracting foreign investment

Kenya has been ranked ninth in attracting investment deals among 28 African countries polled in a survey covering the first eight months of the year. According to research firm StratLink Africa, Kenya clinched deals worth Sh8.6 billion ($85 million) between January and August, putting it behind South Africa with Sh100 billion, Egypt which had Sh46 billion, Ethiopia with Sh55.5 billion, Democratic Republic of Congo with Sh27.... Read more »

Posted on : Monday , 3rd October 2016

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