N e w s

Kenya: Africa s largest wind power project achieves full financial close

Following the financial close of Lake Turkana Wind Power Project (LTWP), the first disbursement of funds pursuant to the financing agreements signed in March 2014 has been received. The Sh70 billion project is the largest single wind power project to be constructed in Africa and is to date, the largest private investment in the history of Kenya and the most complex and challenging project financing undertaken in the renewable energy space in.... Read more »

Posted on : Monday , 29th December 2014

NEW SOLAR POWER PLANT TO COME UP IN UGANDA

 Uganda announced that our foreign and domestic firms would build two solar power plants, with a total capacity of 20 megawatts (MW) as it seeks to develop its renewable energy potential. Keen on expanding its capacity to support an industrialization drive, the east African country is currently pursuing several multi-billion-dollar projects. Officials previously said the government was also looking for investors to develop solar energy and.... Read more »

Posted on : Monday , 29th December 2014

SolarCity invests US$16 million for off-grid solar power plant in Africa

 US installer SolarCity is among the investors in a US$16 million funding round closed this week by Off Grid Electric, a company offering pre-paid solar systems in Africa. Apart from SolarCity, infrastructure fund manager, Zouk Capital and Vulcan Capital, the private investment firm of Microsoft co-Founder Paul Allen, led this second round of investment funding for Off Grid Electric. The first round last year, raised US$7 million..... Read more »

Posted on : Monday , 29th December 2014

AFRICA STRENGTHENS TIES WITH CHINA

Africa’s Transnet and Chinese manufacturer CSR Zhuzhou Electric Locomotive (CSR) signed a Memorandum of Understanding (MoU). This was part of South African president Jacob Zuma’s state visit to assist trade between the two countries.   “Today’s MoU paves the way for Transnet to conclude agreements with CSR to set up manufacturing facilities in South Africa to exploit opportunities for the production and maintenance.... Read more »

Posted on : Saturday , 27th December 2014

Multinationals Manufacturing Companies attracted to Africa

 According to Ernst and Young 2014 Africa attractiveness survey, Kenya ranks third after Nigeria and South Africa as the most attractive in the region. The three are said to attract 40 per cent of the total foreign direct investments in the region. Fernando de Sousa General Manager Africa Initiatives at Microsoft join CNBC Africa to discuss why multinationals are attracted to these major hubs..... Read more »

Posted on : Saturday , 27th December 2014

Xinhai Mining Machinery bags order worth 10 Million USD in Tanzania

In September 2nd, Yantai Xinhai Mining Machinery Co., Ltd. and a Tanzania state-owned mine reached cooperative intent, and signed the contract -----"EPCM Mines Service" in Dar Es Salaam the capital of Tanzania. The cooperation ranged over four fields, exploration, mining, ore dressing and smelting. The EPCM service covered the process design, engineering design, equipment manufacturing, construction, equipment installation and.... Read more »

Posted on : Friday , 26th December 2014

Tanzania: Logistics Firm to Boost Dar Port Efficiency

Trade Mark East Africa (TMEA) has come up in support for the big result now (BRN) to increase Dar es Salaam Port efficiency in the next three years. TMEA has set aside over 60 million US dollars (102bn/-) to increase efficiency that would see, among other things, reduction by almost half from nine to four days of container dwelling time. TMEA Tanzania Country Director, Dr Josaphat Kweka, said they were working hand in hand with the government.... Read more »

Posted on : Friday , 26th December 2014

11 of Africa s biggest startup investments

 Money makes the world go round. And if you play your cards right, might just make your startup successful — putting a smile on shareholders faces. In 2014, we saw a lot of money being moved around in South Africa’s startup scene. So much so that we’ve decided to round up some of the investment rounds that really stood out to Ventureburn. From real estate, crowdsourced designs to a multi-million financial aid startup,.... Read more »

Posted on : Friday , 26th December 2014

Africa's $100 billion plan

 "Geopolitical and industrial relations between South Africa and the nuclear-vendor countries will play an important role," Des Muller, the head of Johannesburg-based building company Group Five's nuclear construction division, said in an emailed response to questions Dec. 17. "It does with all major infrastructure projects and more so on nuclear infrastructures where reliance on nuclear safety and construction knowhow is.... Read more »

Posted on : Friday , 26th December 2014

Building Industrialization on the hub of tech Investment

 For many African countries, which all too often suffer from infrastructure problems such as power outages and unreliable or expensive internet access, tech hubs have proven to be a boon over the last five years or so.   The continent currently plays host to more than 90 of these home-grown centres, with more than half of all African states housing at least one, according to Tim Kelly, lead ICT policy specialist with the World.... Read more »

Posted on : Friday , 26th December 2014

Kenya ranked second in Africa as investment hub for global firms

 Kenya is the second most preferred destination in Africa for multinational corporations seeking to set up shop, according to a US data vendor that tracks emerging markets. Frontier Strategy Group ranked Kenya second with a score of 23.17 per cent after Nigeria which was top on the continent and globally with a score of 29.57 per cent. Globally, Kenya was fifth behind Saudi Arabia (24.69 per cent), Vietnam (24.72 per cent) and Argentina.... Read more »

Posted on : Wednesday , 24th December 2014

German company to open manufacturing unit in Africa

 The facility would include a production line and quality test centre for SMA’s Sunny Central inverters, warehousing, as well as the African branch of the SMA Solar Academy training centre. Thorsten Ronge, the managing director of SMA South Africa, said the group chose to set up its manufacturing base in Cape Town as it was close to the existing solar supply chain. The Cape Town facility is the third clean energy manufacturing unit.... Read more »

Posted on : Wednesday , 24th December 2014



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