Market News Page No. 368| Africa Business News

Developers eye construction boons in Kenya

Developers are splashing billions to construct luxury apartments in Kenya in a bid to woo the ever expanding middle class who want such houses. In Nairobi’s leafy suburbs for instance, it is common to see several luxury apartment targeting the youthful buyers. The luxury apartments in Kenya are fast becoming a darling for the middle class especially the youth and are poised to change the skyline of the city’s.... Read more »

Posted on : Tuesday , 16th February 2016

Wind energy in Africa surges above1GW

A new report by Global Wind Energy Council (GWEC) shows a capacity increase in installed wind energy in South Africa to above 1 GW last year.Wind energy in South Africa This makes South Africa the largest producer of wind energy, followed by Morocco whose installed capacity stood at 787 MW in 201. Wind growth in South Africa has largely been inspired by Renewable Energy Independent Power Producer Procurement Programme, a.... Read more »

Posted on : Tuesday , 16th February 2016

Actis to finance the construction of warehouses in Africa

Actis, a property developer based in South Africa plans to invest $200 million in the construction of warehouses in Zambia. Actis has since identified and shown interest in Zambia and considers the country an attractive investment destination especially due to its demand for imported products. Company partner Louise Deppe said Zambia imported a lot of products from abroad and this created a demand for warehousing.... Read more »

Posted on : Tuesday , 16th February 2016

Road construction in African Nation Blantyre to begin

Construction of three roads in Malawian commercial capital Blantyre is set to kick off after the Blantyre City Council received $1.6 million dollars from government. The three roads set for upgrade are; Chilomoni Ring Road, Angelo Goveya to Manje and Living Waters to Zion in Chimwankhunda. Blantyre City Mayor, Noel Chalamanda presided over the ground breaking ceremony of the 2 kilometres Chimwankhunda Living waters.... Read more »

Posted on : Monday , 15th February 2016

Quantum Power to construct gas storage facility in Africa

Quantum Power and Ghana National Petroleum Corporation (GNPC) have signed an agreement for the construction and operation of the Liquefied Natural Gas storage facility in Ghana. The facility will be constructed at Tema. The Tema LNG project will receive, store, regasify and deliver, about 3.40 million tons of LNG per annum. The delivery will be equivalent to 500 million standard cubic feet of gas per day. The project will as well.... Read more »

Posted on : Monday , 15th February 2016

Geothermal energy in Kenya boosts its export to Tanzania,Uganda

Electricity Utility firm Kenya Power which owns and operates most of the electricity transmission and distribution system in Kenya has announced that it has almost doubled its electricity exports to Uganda and Tanzania since it increased generation of geothermal energy in Kenya national grid. Official data reveals that the electricity distributor sold 46.6 million units (kilowatt hours) to the two countries last year, up from 26.9.... Read more »

Posted on : Monday , 15th February 2016

More solar power for Africa

Solar energy projects are to provide 18,000 to 22,000 MW of additional power in Sub-Saharan Africa by 2030. Another 11,000 to 14,000 MW will come from new projects involving solar, geothermal, wind, hydroelectric and natural gas, as well as a few thousand more megawatts from making existing power supplies more efficient, mentions a report from USAID. Solar energy projects are becoming easier to implement as people aren't just getting two.... Read more »

Posted on : Thursday , 11th February 2016

Construction sector in East Africa booms

A quick survey across the city of Kigali indicates that the construction sector in Rwanda is booming. But it is the high demand in the real estate sector that has been exacerbated by a growing middle class in the country that gives stakeholders sleepless nights. Patrick Sebatigita, CEO of Ujenge Group-a construction company says that the construction sector boom in Rwanda had taken a significant chunk of the GDP, various.... Read more »

Posted on : Thursday , 11th February 2016

Kenyan capital ranked largest mall developer in sub-Saharan Africa

Kenya’s capital Nairobi is the leading shopping mall developer in sub-Saharan Africa a survey by real estate consultancy firm Knight Frank has shown. The Shop Africa 2016 report which is the first review of the retail market in sub-Saharan Africa revealed that Nairobi is the top city with the largest shopping centre development with approximately 470,000 square metres of shopping centre space in the.... Read more »

Posted on : Thursday , 11th February 2016

Obama signs Power Africa initiative into law

President Barrack Obama has signed into law the Power Africa deal a move aimed at expanding electricity to millions of households in sub-Saharan Africa. This measure has been widely supported as it is a game-changer in saving lives and accelerating growth on the continent. The Electrify Africa Act leverages partnerships with the private sector in order to bring first-time electricity access to about 50 million people who live in.... Read more »

Posted on : Thursday , 11th February 2016

US$ 300m Kigali Convention Centre constructed in East Africa set to open

The multi-million Kigali Convention centre in Rwanda’s capital is set to be officially opened in June this year; this is according to Ultimate Concepts Limited (UCL) who owns the project. Kigali Convention Centre which is anticipated to be a hub of a lot of services in East African Community will further host the 27th African Union Summit and this will be its maiden major event, several other events have also been scheduled.... Read more »

Posted on : Wednesday , 10th February 2016

East Africa begins constructing grain silos countrywide

Uganda has began constructing grain silos countrywide to help in the maintaining of good grain standards, the Grain Council of Uganda has announced. The project is supported by Trade Mark East Africa. The Executive Director of the grain council of Uganda, Wilfred Tembo confirmed the news and said that the silos will be able to cater for approximately 200,000 kg of grain and is intended to serve close to 10, 000 farmers.... Read more »

Posted on : Wednesday , 10th February 2016