Market News Page No. 495| Africa Business News

Netherlands to Invest in Africa's Economy

The head of the Dutch business delegation on a one-day visit to Africa, has told a Africa-Netherlands business dialogue that her investors have come to Africa to invest in the country's economy. Netherlands Foreign Trade and Development Cooperation Minister Lilianne Ploumen disclosed Monday, July 6, 2015, that the Dutch entrepreneurs on her delegation see a lot of opportunities in working with Africa. She stated that when.... Read more »

Posted on : Friday , 10th July 2015

40 Investors Show Interest in Africa

The Africa Investment Promotion Commission has said not less than forty intending investors have besieged the Commission for guide about investing in the African economy in the last one month. The Executive Secretary of the Commission, Mrs Uju Aisha Hassan Baba disclosed this while responding to questions on the impact of security on foreign direct investment in the country as she played host to investment delegation from Thailand.... Read more »

Posted on : Friday , 10th July 2015

TANZANIA WINS FUNDS TO BOOST TRANSPARENCY AS INFRASTRUCTURE PROJECTS GATHER PACE

The World Bank Group has set aside $100 million to help Tanzania increase transparency and accountability in governance and boost public financial management as the country ramps up a series of major infrastructure projects. The bank said the “first-of-a-kind” ‘open government and public financial management development policy operation (OGPFM) in Tanzania, financed with credit from the bank’s International Development.... Read more »

Posted on : Friday , 10th July 2015

UPGRADE AT DAR PORT IMPRESSES WORLD BANK

Dar es Salaam. The World Bank, which is one of the financiers for a $596 million (about Sh1.1 trillion) Dar es Salaam Port upgrade, said at the weekend that it is impressed by the ongoing improvements. The World Bank is cooperating with the UK’s Department for International Development and TradeMark East Africa (TMEA) to inject a total of $596 million in the project of deepening and strengthening of berths 1-7, the dredging of the.... Read more »

Posted on : Friday , 10th July 2015

Kenya Somali Maritime Border Case Headed For The International Court Next Week

A fortnight after Kenya’s foreign affairs minister Amina Mohammed said that the East African nation and its horn of African neighbor had agreed to settle maritime border issues outside the international court of Justice the Somalia government has said it would submit the case next week. According to the Somali publication Somali Current the decision follows consultations between the horn of Africa nation officials with.... Read more »

Posted on : Thursday , 9th July 2015

Tanzania: Huge scope for investment in Untapped Renewable Energy

Renewable energy is one of the most untapped sectors in the country. This was said in Dar es Salaam yesterday by an official with the German firm, the Organisation for Development Cooperation (GIZ), Mr Josephat Focus, at the ongoing Dar es Salaam International Trade Fair (DITF). "There are still huge potentials unexplored in the renewable energy that business community could capitalise and give them maximum returns on.... Read more »

Posted on : Thursday , 9th July 2015

Africa: Infrastructure Investment Is the Foundation for Economic Growth

Over the past two decades the average investment in infrastructure as a percentage of GDP has hovered around 5 per cent, a much lower ration when compared to growing economies such as China that invest about 9 per cent of their GDP in infrastructure development. This lower ratio is an indication that more investment in this sector is still needed and indeed so it is not surprising that Namibia has not achieved the 7 per cent average growth.... Read more »

Posted on : Thursday , 9th July 2015

New Petroleum Producers Survey Policy Options In Wake Of Oil Price Slump

Countries seeking to develop newly-discovered petroleum resources are facing a fall in global oil prices, with competition from the ‘shale gas revolution’ in the United States, as well as renewable energy sources. At a New Petroleum Producers Discussion Group in Tanzania, organised by Chatham House and co-sponsored by the Commonwealth Secretariat, authorities from more than 20 countries met this week to find solutions to.... Read more »

Posted on : Thursday , 9th July 2015

Kenya: Africa�s biggest wind power project commences

The biggest wind power farm project in Africa located in Turkana in Kenya was officially inaugurated by President Uhuru Kenyatta in a function that saw many investors put their money on renewable energy production specifically on wind energy. The multi million Turkana wind project which costs US$ 692m is also the largest single private sector initiative in Africa with a number of investors participating. This development.... Read more »

Posted on : Wednesday , 8th July 2015

China To Build 50MW Solar Power Plant In Kenya Amid Investment Boom

China is set to construct a solar power plant in Kenya as part of an ongoing investment plan between the two countries, media reports said Sunday. The 50-megawatt plant, which is planned to be built in the city of Garissa, will be financed by the Export-Import Bank of China, reports said, citing China’s ambassador to Kenya, Liu Xianfa. The project is reportedly set to be one of Africa’s largest solar power.... Read more »

Posted on : Wednesday , 8th July 2015

Renewable power technology is on the rise

In North Africa, Egypt’s New and Renewable Energy Authority (NREA) will soon call for interested bidders to submit proposals for the construction of solar and wind power plants with a total generation capacity exceeding 2,000MW. NREA Head Mohamed Salah Sobky said that the authority receives dozens of offers daily from Arab and foreign companies to establish the renewable power plants, the Daily News Egypt reported on the.... Read more »

Posted on : Wednesday , 8th July 2015

Tanzania To Enhance Tender System For Solar And Wind Power Projects

The new tender system will help the Tanzania Electric Supply Company (TANESCO) and the Rural Energy Authority (REA) to manage a wider range of options before choosing the best bid, explained EWURA’s Director of Electricity, Eng. Anastas Mbawala. During the summit, topics such as solar energy road maps, solar energy storage, and solar power reliability and sustainability were covered. According to the World Bank, the electric power.... Read more »

Posted on : Wednesday , 8th July 2015