Market News Page No. 498| Africa Business News

Roll-out for first made-in-Nigeria cars

The Innoson Vehicle Manufacturing Company Limited (IVM) made history late in November 2014, when it unveiled 500 made-in-Nigeria cars, built at its plant in Umudim, Nnewi, Anambra State, thus becoming the first indigenous manufacturer to achieve this milestone. The vehicles – the IVM Fox hatchback and the IVM Umu saloon cars – are built mainly with local content and are priced lower than imported brands. The Fox, a five-seater,.... Read more »

Posted on : Monday , 27th April 2015

East Africa looks to more trade with India

East African businesses are set to trade more with India by learning how to take advantage of the country's duty-free market access scheme, facilitated by the Supporting India's Trade Preferences for Africa (SITA) project of the International Trade Centre (ITC). The ITC, a joint agency of the World Trade Organisation and the UN, aims for businesses in developing countries to become more competitive in global markets, speeding up economic.... Read more »

Posted on : Saturday , 25th April 2015

Tanzania horticulture exports rise by 38pc, earn $102m

Horticulture is gradually becoming a driving force not only to Arusha where the industry first cropped up, but to the entire agricultural sector, fresh data shows. The input of the sub-sector to overall agrarian exports value grew by 38 per cent in 2014, as opposed to the previous year when it contributed 31 per cent, registering a 7 per cent increase during the period in review. Horticulture brought home an extra $102 million in 2014,.... Read more »

Posted on : Saturday , 25th April 2015

Nigeria, Russian Firm Stake N16 Trillion to Build Four Nuclear Plants

Nigeria has signed an agreement with a Russian firm, Rosatom, to build four nuclear power plants in the country valued at $80 billion, about N16 trillion. The power plants which will have a combined capacity of 4,800 megawatts, are expected to come on stream between 2025 and 2035. Speaking at a forum in Kenya Tuesday, Mr. Franklin Erepamo Osaisai, Chairman/Chief Executive Officer, Nigeria Atomic Energy Commission, said the building of the.... Read more »

Posted on : Friday , 24th April 2015

Investors call for a trade-boosting environment in Kenya

Business leaders want the government to come up with programmes that can support local innovators and young entrepreneurs to turn their ideas into profitable enterprises. Meeting in Nairobi over the weekend, the investors also sought incentives for local firms, as opposed to the current focus on their foreign counterparts, as well as give them preference when procuring goods and services. Studies have shown that many innovations in Kenya.... Read more »

Posted on : Friday , 24th April 2015

Rosatom, ready to empower Africa.

Global nuclear giant Rosatom incorporates more than 350 companies worldwide and includes civil nuclear companies that specialize in power generation and nuclear fuel production, nuclear and radiation safety complex facilities, fundamental and applied science, nuclear medicine organizations, as well as the world’s only nuclear-propelled fleet of ice breakers. Rosatom is extremely unique in that it is currently the only company able to.... Read more »

Posted on : Friday , 17th April 2015

2015 Automotive Surface Anti-corrosion Technology Seminar

The seminar will invite GAC Automotive Engineering Institute to make a speech on the automotive surface anti-corrosion problems and requirements to technology and invite China Auto Parts &Accessories Management Consultant Co., Ltd to make a speech on the implementation of control system of auto parts supply chain. The attendees mainly are surface finishing engineers from automobiles, auto parts and accessories. The seminar also invites.... Read more »

Posted on : Tuesday , 14th April 2015

The 3rd International Summit on Surface Finishing Industry Development

Surface finishing industry associations and key enterprises from China, America, Germany, Japan, Korea, Singapore and India, the national environmental protection department, principals of surface finishing technology from leading enterprises in automotives, household appliances, hardware and other manufacturing industry will attend the summit to introduce surface finishing industry in different countries, discuss the general situation of.... Read more »

Posted on : Tuesday , 14th April 2015

Construction of a new high voltage power line in Kenya to cost US$ 93m

A new high voltage power line that will be constructed to link geothermal power plants in Olkaria to Kisumu is set to start on May, Kenya Electricity Transmission Company Ltd (Ketraco) has said and complete in June 2017. The power line project, which is expected to cost US$ 93m, aims at reducing the ongoing blackouts experienced in Western Kenya. The new line will allow injection of more geothermal power into the grid, after.... Read more »

Posted on : Thursday , 26th March 2015

50 MW Wind power project in Tanzania to cost more than US$ 132m

Tanzania is at an advanced stage in plans for erecting a mega wind power project in Singida town by 2016. The construction is expected to cost more than US$132m for the first phase, and the wind farm will generate up to 50 MW of power to be channeled to the national grid. National Development Corporation (NDC) Head of Energy and Infrastructure development, Mr. Pascal Malesa confirmed the news and said that they are already in the.... Read more »

Posted on : Friday , 13th March 2015

China responsible for 31% of infrastructure projects in East Africa, says Deloitte

Deloitte East Africa has released a report showing that China is responsible for building 31% of all infrastructure projects in East Africa in 2014. This went up as compared to the 19% in 2013. The report was recently released during the third edition of the annual Deloitte African Construction Trends Report 2014 and it stated that Europe and the United States contributed 18% of construction, followed by the government at 13.... Read more »

Posted on : Friday , 13th March 2015

Infrastructure and energy projects to strengthen Kenya�s economy, World Bank says

According to a study by the World Bank, Kenya’s economy will rise massively to 7 percent and public investments in infrastructure – especially from the standard gauge railway – and energy sectors will help in the growth in the medium term. The current Kenya Economic Update (KEU) explains that the country has grown economically and is anticipating a growth rate of 7 percent between 2015 and 2017, from 5.4 percent.... Read more »

Posted on : Tuesday , 10th March 2015