Market News Page No. 377| Africa Business News

Promising 'New Deal on Energy' for Africa

African Development Bank will manage Africa's New Deal on Energy along with investing US$12bn in energy funding over the next five years The deal's aims all revolve around providing more power for the households for Africa Africa has been well-recognised as a huge resource potential for the energy sector and yet the economic conditions do not yet allow the complete utilisation of this potential. It is these circumstances that have.... Read more »

Posted on : Wednesday , 27th January 2016

Investment holding firm to construct mega cement plant in Africa

Investment holding firm Zambia Consolidated Copper Mines (ZCCM-IH) is set to construct a cement plant in Zambia,Chief Executivve Officer of ZCCM-IH, Pius Kasolo has said. The plant will be set up at Ndola Lime on the Copperbelt with an initial investment worth $600 million. Mr Pius Kasolo said the plant would be completed in three years time and is expected to create more than 1,000 permanent jobs. During an interview in.... Read more »

Posted on : Wednesday , 27th January 2016

Largest mall in East Africa to get own electricity

The Largest mall in East Africa that is under construction in Kenya-Two Rivers mall will get its own electricity thanks to investment firm Centum that has pledged to construct solar and diesel power plants that will generate 12MW of electricity to provide power to the mall. Centum secured a license from the Energy Regulatory Commission (ERC) to generate and supply electricity at the mixed-use commercial development that.... Read more »

Posted on : Wednesday , 27th January 2016

African Nation to connect 1.2 million homes with natural gas

Egypt plans to connect 1.2 million homes with natural gas as in the Financial year 2016/2017, state owned corporation Natural Gas Holding Company has said. According to the state owned corporation Egyptian Natural Gas Holding Company (EGAS) they have already done preliminary studies that will enable them deliver the gas connection to the homes. This is expected to be one of the biggest projects that will be carried.... Read more »

Posted on : Tuesday , 26th January 2016

Construction of Konza techno city in Kenya boosts Nairobi image

The commencement of the construction on Konza Techno City in Kenya is laying a solid foundation for the future of Nairobi city and boosting its image as well. According to a report; The 2016 Jones Lang LaSalle (JLL) City Momentum Index (CMI) Nairobi is currently ranked position one in Sub-Saharan Africa and 11 globally among cities spurring technology and real estate development having an aim of being Africa’s leading.... Read more »

Posted on : Tuesday , 26th January 2016

Renaissance Dam construction project in East Africa in good course

The construction of the Ethiopia Renaissance Dam is in good course despite stiff opposition from Egypt. Reports from Ethiopia Electric and Power Corporation seem to indicate that the dam will soon start generating 750MW of electricity. However, Egypt is concerned that the dam will be utilised for irrigation in Ethiopia, resulting in reduced downstream supply. However, Ethiopia maintains that there are no hidden agendas.... Read more »

Posted on : Tuesday , 26th January 2016

Yet another huge gas power plant to be constructed in Africa

Namibia will construct its largest gas power plant since independence in 15 months’ time, Xaris Holdings, a company managing the project has announced. The plant is estimated to cost 450 million US dollars. Other companies involved in this mega project includes; General Electric, Excelerate Energy, Standard Bank, Garanti Koza, KS Energy and Ariya Capital Group. The major power plant to be constructed in.... Read more »

Posted on : Monday , 25th January 2016

Azura Power construction Project in Africa gets US$900m boost

Electricity shortages in Nigeria could be a thing of the past following plans to construct an independent power scheme regarded one of its kind. Equity funders in collaboration with 20 international banks have committed US$900m towards the Azura Power construction Project in Nigeria.The 450MW gas-fired open-cycle power plant will be hosted in Edo State. The boost comes after the power plant scheme attain financial close and.... Read more »

Posted on : Monday , 25th January 2016

China to construct mega sea port in Africa

Algeria’s Transport Ministry, China State Construction Engineering Corporation (CSCEC) and China Harbour Engineering Company (CHEC) have signed an agreement to construct a mega sea port in Algeria. The US$3.3bn project will be constructed on the new center transshipment port of Cherchell. However, a consortium company to build the port will be established and the port will be constructed within the capital city Algiers some.... Read more »

Posted on : Monday , 25th January 2016

World Bank boosts infrastructure in Africa with $100m loan

Infrastructure in Gabon has received a shot in the arm after the World Bank extended a $100 million loan aimed at boosting infrastructure in the country. The approved loan is the second phase of the Infrastructure and Local Development project. The project aims to improve access to urban infrastructure and services in selected underserviced neighbourhood and to build basic capacities for municipal management in targeted.... Read more »

Posted on : Saturday , 23rd January 2016

China pledges to boost infrastructure construction in Africa

China will work closely with Egypt in a bid to boost infrastructure construction in Egypt, president Abdel Fattah el-Sisi and his Chinese counterpart Xi Jinping have announced. The two leaders agreed to work together in a bid to enhance growth in the infrastructure sector of the country President Sisi said he is willing to connect its own development plans with the Belt and Road Initiative and expand infrastructure.... Read more »

Posted on : Saturday , 23rd January 2016

CSIR photovoltaic solar plant in Africa begins operations

The ground-mounted CSIR photovoltaic solar plant in South Africa is now fully operational. The plant is situated at the Council for Scientific and Industrial Research (CSIR), in Pretoria. The construction of the project began in June last year and initial testing completed the same year. The project forms part of the CSIR’s aim to run its Pretoria campus fully on renewable energy and, therefore, move totally off.... Read more »

Posted on : Saturday , 23rd January 2016