Market News Page No. 395| Africa Business News | Afrotrade

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Yara Gets New Partner for Dallol Project in Ethiopia

Liberty Metals & Mining Holdings, LLC, a subsidiary of Boston-based Liberty Mutual Insurance (LMM), has acquired 25 percent of the shares in “Yara Dallol” for USD 51.25 million. Yara’s share of the proceeds is USD 35.4 million. Yara Dallol is a project looking at extracting potash in the Danakil depression in North-Eastern Ethiopia. The site’s annual production capacity is confirmed to be 600,000 metric tons.... Read more »

Posted on : Thursday , 3rd December 2015

Russia offers loan for nuclear power plant construction in Africa

Russia has agreed to fund the first ever nuclear power plant in Egypt by extending a loan of $25b towards the construction of the plant. The nuclear power plant in Egypt is being constructed by Rosatom Russia’s state owned company. This will be one of the largest project being funded by Russia. Upon completion the construction project is expected to help meet the country’s increasing energy demand. The loan.... Read more »

Posted on : Thursday , 3rd December 2015

Construction of a major thermal power plant in Africa nears completion

Energy Minister for Zambia Dora Siliya has announced that the construction of the 300 megawatts thermal power plant in the country is almost complete. The minister revealed that 83% of the construction work has been done. She was speaking after touring the construction site for the power plant. She said that the thermal power plant in Zambia will boost the country’s power generation capacity. Ms Siliya said that the.... Read more »

Posted on : Thursday , 3rd December 2015

JICA boosts construction of roads in Tanzania

Tanzania has signed a US$ 400m loan deal with Japan to boost construction of roads in the country. The road construction in the country is aimed at triggering the growth of business activities. Masharu Yoshida, the Japanese Ambassador to Tanzania confirmed that Japan International Cooperation Agency (JICA) and African Development Bank (AfDB) will help finance the road construction project in Tanzania. “I have.... Read more »

Posted on : Thursday , 3rd December 2015

China to Place Zim On Investment 'Priority List'

Happiness Zengeni and Tinashe Makichi Zimbabwe's economic fortunes are set to change dramatically once it is admitted into an exclusive group of countries being targeted by China for investment. International Co-operation Centre-National Development Reform Commission of China director-general Dr Cao Wenlian told a China-Zimbabwe Business Forum yesterday that China was looking at admitting Zimbabwe into the priority list of African.... Read more »

Posted on : Wednesday , 2nd December 2015

Medicine Manufacturing Firm Established in Gambia

Spanish investors have established a medicines manufacturing company in Brikama. The company, called Toskani Pharma Gambia Limited, was initiated by one Velino Nalabarder, a Spanish national. The company is currently manufacturing various medicine products, including bendroflumthiaside B.P 5MG, metoclopramide tablets B.P 4mg, dyrochlororhiized B.P 25mg, pyrimenthamine tablets B.P 25mg captopril tables B.P 25mg, and atenolol.... Read more »

Posted on : Wednesday , 2nd December 2015

Zambia Launches Construction of China-Aided Hydro-Power Project

Zambia launched the construction of a China-aided major hydro-power project on Saturday, which will go a long way in boosting the country's electricity generation capacity. The launch came after the signing of a memorandum of understanding by the two governments for the commencement works on the development of the 750 megawatts Kafue Gorge Lower Hydro-power project last month. The hydropower plant - to be situated in southern.... Read more »

Posted on : Wednesday , 2nd December 2015

Emergency Power Generation Earns Kengen Sh24.9 Million

Kenya Electricity Generating Company (KenGen) earned Sh24.9 million for managing the most expensive form of energy in the country during the year to June 30. The revenue is disclosed in KenGen's annual report for the period which also shows that the company earned Sh33.7 million for a similar activity last year. According to KenGen's managing director Albert Mugo, the money was paid to KenGen for its role in assisting UK's.... Read more »

Posted on : Wednesday , 2nd December 2015

Nestle Invests U.S $30 Million On Capex

Golden Sibanda Senior Business Reporter SWISS food giant, Nestle Zimbabwe, says it has invested $30 million over the past four years towards ramping up production capacity and enhancing efficiency. Nestle South cluster manager Mr Ben Ndiaye, said the investment in capital operations was also a statement to affirm commitment to Zimbabwe. Mr Ndiaye made the remarks in an interview after an event to hand a total of 100 dairy cows.... Read more »

Posted on : Wednesday , 2nd December 2015

Pepsi Grabs Delta's Market Share

By publicly announcing plans to set up a Pepsi bottling plant in the capital two weeks ago and conducting a groundbreaking ceremony, a matchstick that could ignite a competition powder keg in Zimbabwe's beverages sector could have been lit. All along Delta Beverages had wondered who was behind the Pepsi beverages that flooded the market. Now, they know. The months prior to the groundbreaking ceremony, consumers had seen.... Read more »

Posted on : Wednesday , 2nd December 2015

Meru County Allocates Sh1.69 Billion for Fish Farming Projects

Meru county government plans to channel at least Sh1.69 billion to promote fish farming. Among the key target areas include establishment of a hatchery for warm fish fingerlings estimated to produce at least one million fingerlings annually, construction of demonstration fish ponds and mini fish feed processing machines. According to Governor Peter Munya, the county government has already constructed two big trout farms in.... Read more »

Posted on : Wednesday , 2nd December 2015

Upbeat Paris climate talks will bear fruit in Africa

UN sponsored climate talks got underway in France’s capital Paris this week with Africa’s top climate change negotiators upbeat that they will get a legally binding agreement this year. Early ahead of the talks South African negotiators were not sure exactly how much money they want donors to put in to help developing countries adopt climate-friendly strategies. A spokesman for South African President Jacob.... Read more »

Posted on : Wednesday , 2nd December 2015

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