Market News Page No. 494| Africa Business News

Bowleven commences drilling operations on Zingana exploration well

Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce that drilling operations have commenced on the Zingana exploration well on the Bomono Permit, onshore Cameroon. The Zingana well is the first of two wells in the 2015 exploration programme. Zingana is located 20 kilometres north-west of Douala and will target a Paleocene (Tertiary) aged threeway dip closed fault block that was partially.... Read more »

Posted on : Wednesday , 3rd June 2015

Stamico To Sign Tin Trade Agreement With Dar Gold DMCC Ltd Dubai

Kyerwa Tin Company Ltd., a subsidiary of Tanzania State Mining Corporation (Stamico) and Dar Gold DMCC Ltd of Dubai signed a tin mining trade agreement to uplift small scale tin mining industry of Kyerwa district. The agreement was signed recently in Dar Es Salaam by the Acting Managing Director of Stamico Mr. Edwin Ngonyani. Stamico’s goal is to improve the livelihoods of small-scale miners. Mr..... Read more »

Posted on : Wednesday , 3rd June 2015

INDIA: Honda begins Jazz exports to South Africa

Honda Cars India has started exporting its small Jazz [Fit in some markets] to South Africa from its plant in Rajasthan where it increasing production of the model from 120,000 to 180,000 units a year. Senior vice-president for sales and marketing, Jananeswar Sen, said exports to South Africa from the Tapukara factory had already started. The third generation Jazz goes into production there in July. Tapukara also produces the mid size City.... Read more »

Posted on : Wednesday , 3rd June 2015

Enel Green Power announces start of construction on an 82.5 MW PV plant in South Africa

Enel Green Power (EGP, Rome, Italy) has begun construction of the Pulida solar photovoltaic (PV) plant, which is located in the Free State Province in South Africa. The PV project will have a total installed capacity of 82.5 MW and once fully operational will be able to generate more than 150 GWh of solar power annually, equivalent to the annual consumption needs of around 48,000 South African households. Solar power generated by Pulida.... Read more »

Posted on : Wednesday , 3rd June 2015

SOUTH AFRICA: Mercedes East London plant builds car #1,000,000

Daimler's South African Mercedes-Benz plant in East London, Eastern Cape province, has built its one millionth passenger car - a white, right hand drive, C-Class sedan. The latest generation has been produced since May 2014 in East London - one of four factories world wide making the model line - and this is the fourth generation to be built in South Africa. Bremen, Germany, is the lead plant and the others are Tuscaloosa, Alabama and Beijing.... Read more »

Posted on : Tuesday , 2nd June 2015

Ethiopia to build biggest air cargo hub in Africa

Ethiopian Airlines’ drive to become a global carrier is to be supported by the construction of a world-class cargo terminal at Addis Ababa Bole International Airport. The $98m terminal, which will be the size of five football grounds, is to be designed by German engineer Unitechnik Group. According to Unitechnik, the new terminal will be able to handle 600,000 tonnes of freight a year: more than four times the capacity of the.... Read more »

Posted on : Tuesday , 2nd June 2015

WB cooperates with Chinese firm to develop low-cost houses in Africa

NAIROBI - The World Bank's private sector arm, the International Finance Corporation (IFC), on Friday inked a new partnership with Chinese construction and engineering company to develop low-cost houses in three African countries. IFC and CITIC Construction Co., Ltd will set up a joint venture and inject 300 million U.S. dollars to develop 30,000 homes in Kenya, Rwanda and Nigeria in the next five years. "As Sub-Saharan Africa becomes.... Read more »

Posted on : Tuesday , 2nd June 2015

M&M bets big on Africa, opens business unit

Indian automobile manufacturer Mahindra & Mahindra (M&M) has opened a business unit in Africa with a view to capitalizing on the emerging market opportunities in the continent. The company, which has opened its local office in South Africa, will come up with three more similar units in Egypt, Nigeria and Kenya. The new additions will work with local companies and employees. Playing the role of internal distributor for the carmaker,.... Read more »

Posted on : Tuesday , 2nd June 2015

New interest in East Africa s oil and gas investments

Senet Holding, a Hong Kong-based Investment Company is seeking new markets and partners in Uganda in areas where substantial development exists from oil and gas to minerals and consumer goods. Senet Holding founder, Alexandar Romanov and chief executive officer, Frøystein Bakke were in the country recently on a commercial sports enterprise conference but were left “deeply impressed and inspired by what Uganda has to.... Read more »

Posted on : Monday , 1st June 2015

Kenya�s Brookside acquires Ugandan dairy firm in expansion drive

Brookside Dairy Limited has taken over operations of leading Uganda dairy operator Sameer Agriculture and Livestock Limited (SALL), making it the first major acquisition by the Ruiru-based processor outside Kenya’s borders. Brookside Director of Milk Procurement John Gethi told a farmers’ field day in Rushere, western Uganda, that the processor had taken over management of SALL’s contracted farmers and assets, including.... Read more »

Posted on : Monday , 1st June 2015

A new player to enter cement production in Kenya

Cement production in Kenya is soon to see a new entrant. A new cement grinding plant is set to be constructed in Western Kenya on a 50 acre piece of land. It is projected to produce 730,000 tonnes of cement every year and hence enhance the competition in the industry. “The plant will have the capacity to increase cement production in Kenya by 2,000 tonnes of cement per day using raw materials such as clinker, additives,.... Read more »

Posted on : Monday , 1st June 2015

Construction of a super highway linking Liberia and Cote d Ivoire set to kick off

The construction of a super highway linking Liberia and Côte d’Ivoire is set to kick off and the project will be funded by the African Development Bank (AfDB). According to the AfDB outgoing President, Dr Donald Kaberuka the project will start soon since they are currently evaluating on the budget that will be able to complete the project in the recommended time. The president who was speaking during the Bank’s 50th.... Read more »

Posted on : Monday , 1st June 2015