Market News Page No. 374| Africa Business News

East African Pharmaceutical Signs U.S.$42 Million Agreement with UK Based Firm

Addis Pharmaceutical Factory (APF) signed a 42 million dollar partnership agreement with 54 Capital Ltd., a UK-based asset management equity firm, which has investments in different countries in Africa. APF, one of the many businesses under the Endowment Fund for the Rehabilitation of Tigray (EFFORT), ceded 40.7pc of its equity in exchange for the indicated sum, which comes to 891 million Br. "54 Capital can now play.... Read more »

Posted on : Tuesday , 2nd February 2016

Qatar seeks to construct major project in East Africa

Diversified Qatari real estate firm Ezdan Holding Group has announced its interest to enter the Ethiopian market with a proposed mega tourist project in Ethiopia. The proposed 150,000m² resort construction project will features a high-quality technical specifications in terms of facilities and services which will contribute in raising the quality of real estate products available in the Ethiopian market. Speaking during a.... Read more »

Posted on : Tuesday , 2nd February 2016

Industrial technology is raisining Kenya�s GDP

The word ‘economy’ has connotations of big business, office-based industry and online-based markets Kenya John WollwerthMobile technology is important in Kenya with 82 per cent of the population owning a mobile phone. Economies like the US and the UK are largely based on retail and the service sector, providing a strong flow of GDP and adding to growth. For Kenya, farming and agriculture come to mind, contributing as of the.... Read more »

Posted on : Monday , 1st February 2016

Tanzania Plans $10bn Mega-Port

In a bid to transform Bangamoyo, Tanzania into a regional trade and logistics hub, the Tanzanian government has secured investments totalling $10 billion to build a mega-port, according to Tuscor Lloyds. The project has received around $10.7 billion in finance from China and Oman, which will be used to develop port facilities in order to boost Bagamoyo’s capacity to 20 million TEU. As well as seeing an increase in.... Read more »

Posted on : Monday , 1st February 2016

Exports hold the key to Kenya�s economic take-off

Kenya’s import orientation has revealed key flaws. One clear problem is having a chronic and substantial current account deficit. Secondly the government has to be hawk-eyed about the shilling depreciation to keep import bills manageable. Third, the country is unable to generate forex to pay foreign-denominated debt. Finally, Kenya’s import economy exacerbates the country’s unemployment.... Read more »

Posted on : Monday , 1st February 2016

US firm to plan for power supply in Mutli-million dollar Tatu City in Kenya

A multi-million satellite complex Tatu City in Kenya , has announced that it had appointed US-based firm Power Engineers Inc to plan on power infrastructure for use within the industrial complex. Power Engineers is one of the largest consulting engineering firms in the United States Tatu City in Kenya management said that The Power Engineers Inc is well suited for the job having worked with clients such as the World Bank,.... Read more »

Posted on : Saturday , 30th January 2016

Construction firm Murray and Roberts wins big with new International contracts

Construction firm Murray and Roberts has announced that its subsidiaries, Clough and CH-IV International have secured contracts for projects in the oil and gas sectors in South Korea and the US. Construction firm Murray & Roberts, a group of world-class companies and brands is a JSE listed group with headquarters in Johannesburg, South Africa. According to the group, Samsung Heavy Industries had awarded Clough a.... Read more »

Posted on : Saturday , 30th January 2016

East Africa and China deepen ties, sign trade agreement

Djibouti’s president has signed an agreement with China to set up a trade zone and establish legal framework to let Chinese banks operate in the country, according to a Reuters report Djibouti President Ismail Omar Guelleh stated the aim is to have the first phase completed and operational before end of 2016 The trade zone is expected to cover an area of 48 sq km. The first phase covers an area of 1.5 sq km and is aimed to be.... Read more »

Posted on : Friday , 29th January 2016

East Africa and China deepen ties, sign trade agreement

Djibouti’s president has signed an agreement with China to set up a trade zone and establish legal framework to let Chinese banks operate in the country, according to a Reuters report Djibouti President Ismail Omar Guelleh stated the aim is to have the first phase completed and operational before end of 2016 The trade zone is expected to cover an area of 48 sq km. The first phase covers an area of 1.5 sq km and is aimed to be.... Read more »

Posted on : Friday , 29th January 2016

International Power firm to construct 10 MW PV solar plant in Africa

An international power firm has announced plans to construct a 10 MW solar plant in Gambia a move that will boost electricity supply in the country. Emerging Power Ghana Limited has already signed a 25-year power purchase deal with Gambia’s National Water & Electricity Company (NAWEC). Yasser Gamil, Emerging Power (Gambia) Ltd.,MD signed the agreement on behalf of the company while the National Water & Electricity.... Read more »

Posted on : Friday , 29th January 2016

Major road in Kenya to be expanded into dual carriage

A Japanese firm has been awarded a US$ 13m contract for the expansion of a major road in Kenya into dual carriage, the Kenya Urban Roads Authority (KURA) has announced. The Japanese company, World Kaihatsu Kogyo (WKK) is set to commence operations in April this year and will in entails the installation of traffic signals, street lights and walkways to be used by pedestrians. The mega project which is financed.... Read more »

Posted on : Friday , 29th January 2016

Himoinsa to launch new products and expand presence in 2016

Spanish genset manufacturer Himoinsa’s turnover in 2015 grew by 15 per cent, with strong sales figures coming in from the Middle East, Africa, Asia Pacific and Europe While Europe emerged a key market contributing 37 per cent of the total turnover, America followed with a 26 per cent share and Asia Pacific with a 17 per cent share. The Middle East and Africa each contributed 10 per cent to Himoinsa’s annual figures.... Read more »

Posted on : Thursday , 28th January 2016