Market News Page No. 458| Africa Business News | Afrotrade

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Africa's Obuasi gold mine to be redeveloped

USA-based Randgold Resources Limited and South Africa’s AngloGold Ashanti Limited have have decided to form a joint venture to redevelop and operate AngloGold Ashanti’s Obuasi gold mine in Ghana goldmining Calistemon wcThe Obuasi gold mine will be enabled with ramp access for better transportation of materials and workers. The two companies signed an investment agreement to forge a JV that would operate the Ghanaian.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya among 12 African states to benefit from ,technology initiative

Kenya is among 12 countries set to benefit from a new initiative that is aimed at strengthening science, technology and innovation in Africa. The Science and Granting Councils Initiative in Sub-Saharan Africa will offer opportunity to member states to boost their science systems to support national and regional development. Although many African countries still face major hurdles in funding research, the Government expressed its commitment in.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya to host Sh23bn machinery plant

The manufacturing sector will benefit from Sh23 billion boost after a Kenyan firm Bico partnered with German machinery maker Liebherr Group to establish an assembly plant in Nairobi. Speaking in Kilifi, Bico-Liebherr founder Andrew Malunga Buraje said they are finalising the necessary investment documentation before the plant is put up in Nairobi towards the end of this year. "We have put pen to paper and partnered with Liebherr Limited who.... Read more »

Posted on : Wednesday , 23rd September 2015

Clover Mulls Building South Africa's First Dairy Mega-Factory

Clover Industries Ltd. is considering building South Africa’s first dairy mega-factory to boost exports to the rest of the continent from a country that consumes about 98 percent of the milk it produces, potentially countering the need for future volume and price cuts. The proposed plant will be built near Estcourt in the eastern KwaZulu-Natal province for 890 million rand ($67 million) and will produce dairy products including milk.... Read more »

Posted on : Wednesday , 23rd September 2015

South Africa wine body pairs Nigeria with red, Angola with fizz

South African wine producers are trying to cater for Angolans’ thirst for sparkling wine and Nigerian demand for bottles of red to penetrate the African market, according to the country’s leading trade body for the industry. Wine producers aim to more than double annual sales growth to 5 percent in Nigeria, boosting profits from Africa’s largest economy, Matome Mbatha, of Wines of South Africa, or WOSA, said in an interview.... Read more »

Posted on : Wednesday , 23rd September 2015

Ugandan millionaire Ashish Thakkar's Mara Group raising $100M to launch pan-African e-commerce platform

Dubai-based Mara Group is launching an Africa-wide online marketplace that it hopes will become the leading e-commerce business in Africa within less than four years. Ashish Thakkar, Founder of Mara Group and the executive chairman of the new venture, describes it as “a marketplace for global brands to plug into to sell locally in Africa, and for local brands to sell nationally, regionally and globally.” Called Mara Sokoni, the.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya imports milk from Uganda to meet shortfall

It is now emerging that Kenya imports milk from Uganda to meet its shortfall. Statistics show that Kenya bought milk worth Sh520 million from Uganda last year. On its part, Kenya sold dairy products valued at Sh290 million to Uganda during the period. The milk imported by Kenyan firms is mainly in powder form and is meant to safeguard the processors’ market share during the dry season when local supplies are low. Data from the East and.... Read more »

Posted on : Wednesday , 23rd September 2015

Strong dollar earns tea farmers Sh64 billion

Tea farmers have earned close to Sh10 billion more from leaves delivered in the year ended June 2015, helped by a strong US dollar and high pricing of the commodity in the world market. Latest industry performance data released Tuesday shows that growers affiliated to the Kenya Tea Development Agency (KTDA) have received Sh28.7 billion in the second round of payment for their produce compared to the Sh19 billion they earned in a similar.... Read more »

Posted on : Wednesday , 23rd September 2015

Rwanda positioning tourism sector to fetch home more revenues

The government is pushing forth a vision to finance own budget by gradually reducing donor dependence. To do this, government has to up its game plan in harnessing local sources of revenue. You only get quantity and quality milk from a cow that you nourish well. This means to make the most of the lucrative tourism industry, the government has to continue devising measures to improve the sector. Tourism is the country’s top income.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenyan officials visit China to gain knowledge on industrialization

Some senior Kenyan officials will visit China for a one-week training program sponsored by China’s Ministry of Commerce to learn innovative strategies to catalyze industrial progress in the east African nation. Kenya’s Principal Secretary in the Ministry of Industrialization and Enterprise Development Wilson Songa said on Tuesday that the visit will boost Sino-Kenya industrial cooperation. "This year’s visit to.... Read more »

Posted on : Wednesday , 23rd September 2015

Kenya signs on to extend Mombasa railway through to Naivasha

The Kenyan government has signed a new agreement that will extend the Mombasa-Nairobi standard gauge railway (SGR) line to Naivasha, a town lies about 120 kms northwest of the capital. The deal was signed by China Road and Bridge Corporation (CRBR) Chairman Wen Gang and Kenya Railways Managing Director Atanas Maina during a Cabinet Steering Committee on SGR meeting chaired by President Uhuru Kenyatta. The extension of the SGR will open.... Read more »

Posted on : Wednesday , 23rd September 2015

Hikma Pharmaceutical to buy Egyptian pharma firm EIMC United

Hikma Pharmaceutical Plc has announced plans to buy nearly the entire share capital (98.09%) of EIMC United Pharmaceuticals from a consortium of shareholders to boost its position in the Egyptian market. EIMC United is based in Egypt and is primarily a drug maker specialising in oncology products. The Jordanian company did not disclose the value of the deal, which comes just months after its large-ticket purchase of Boehringer.... Read more »

Posted on : Wednesday , 23rd September 2015

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