Market News Page No. 537| Africa Business News | Afrotrade

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Industrialisation to transform Africa

Africa industrialisation day is an annual event celebrated to showcase relevant actions and success stories that promote Africa’s industrial development. The event will take place under the theme “Inclusive and sustainable industrial development (ISID): Agro-industrial development for food security.” Also, African Union 2014 was designated as the year of Agriculture and Food Security, while the UN.... Read more »

Posted on : Friday , 28th November 2014

Shaw Controls invests US$605,000 in Industrial expansion

“Although we have been one of the top three electrical equipment suppliers in the country for some time, we have now set our sights firmly on becoming South Africa’s number one motor control centre and container sub-station manufacturer," said Bevan Richards, managing director of Shaw Controls. “The upgrades we are implementing during 2011 and 2012 are part of a five year growth strategy designed to take us a quantum.... Read more »

Posted on : Friday , 28th November 2014

Industrial Development coorperation to build steel mill

The IDC has been trying to secure sufficient energy supplies to convert its plans into a reality, since the plans to launch a new steel mill were revealed last year. The IDC is part of a group including Chinese steel producer Hebei Iron and Steel, which acquired a 74.5 per cent stake in Palabora Mining from Rio Tinto and Anglo American. Palabora’s main asset, a copper mine in Limpopo, has amassed a 240mn tonne dump of magnetite,.... Read more »

Posted on : Friday , 28th November 2014

Kenyans should be the winners in oil contracts

hen Kenya struck oil in Turkana and Wajir counties a few years ago, majority of Kenyans were excited at the prospect of petrol dollars. Finally, the hitherto dry and poverty-stricken counties were on the cusp of a breakthrough and in the process, Kenya would join the league of oil-rich countries. Oil, as a source of energy, is one of the most sought-after resources in the world. However, emerging reports indicate Kenya could get a raw deal.... Read more »

Posted on : Thursday , 27th November 2014

Japan's Toyota Tsusho to design Uganda-Kenya crude pipeline

Japan's Toyota Tsusho has won a contract to design an oil export pipeline from Uganda to Kenya's coast, a Kenyan official said on Wednesday, as the countries seek to start crude production. Oil discoveries in Uganda and Kenya and gas deposits found off Tanzania and Mozambique have turned east Africa into a frontier for hydrocarbon exploration. Landlocked Uganda is planning to start crude production in 2018,.... Read more »

Posted on : Thursday , 27th November 2014

Attractive Industrial Investment opportunities in kenya

Sri Lankan President Mahinda Rajapaska recently visited Kenya during the East African nation's 50th independence ccelebrations. The visit was intended to open new collaborative economic opportunities for the governments and their respective private sectors. Eight Memoranda of Understandings including agreements on bilateral relations, bilateral trade and economic and technical cooperation were signed. New.... Read more »

Posted on : Thursday , 27th November 2014

Kenya pursues growth in the manufacturing sector

Kenya’s government is currently considering the final iteration of a bill that would establish three special economic zones (SEZs) within the country. The SEZs will allow lower levels of taxation and fewer regulatory hurdles, and will focus primarily on industrial activity, in particular textile production. The SEZ bill is part of a broader initiative to boost the manufacturing sector, diversify the country’s exports and.... Read more »

Posted on : Thursday , 27th November 2014

Kenyan steel maker to invest in metal sheet production

Kenya-based steel company Devki Group will invest US$321.2mn in the manufacturing of metal sheets used to produce roofing sheets and key automobile components The company will start the production of Aluzinc, which is used in making exhaust pipes and chassis. Devki has plans to export up to 40 per cent of its Aluzinc to automotive industries in South Africa and Europe. The firm has confirmed that work will commence as early as.... Read more »

Posted on : Thursday , 27th November 2014

Chinese firm to invest in Africa's Industrial sector

The first phase of the project, which is targeted to produce 40,000 tonnes of ferrochrome annually, will be set up in Selous. The company recently said the project would require 100,000 tonnes of chrome ore and 24,000 tonnes of coke annually. “Most of the raw materials for the processing of ferrochrome, including chrome and coke, are readily available in Zimbabwe,” a company official said. According to the company, the.... Read more »

Posted on : Thursday , 27th November 2014

Standard Chartered and Ashmore invest in Africa's Industrialization

Africa Standard Chartered Private Equity head Yemi Osindero said, “We are excited to have invested in a long-term Standard Chartered client that has become a fast-growing manufacturing company. “From its initial production plant in Nigeria, GZI has followed a very profitable growth path and established itself as an integral member of Nigeria’s beverage sector.” Ashmore Group research co-head Jan Dehn said, “This.... Read more »

Posted on : Thursday , 27th November 2014

Swala Energy to seek alternative funding for drilling in East Africa

Board members of Australian explorer Swala Energy have said the company will be seeking alternative funding to finance its drilling obligations ahead of its planned campaign in 2015 after a Share Purchase Plan which closed 17th November 2014. The Share Purchase Plan was withdrawn after Swala’s board observed that it was not in the best interest of shareholders given the current equity market conditions and.... Read more »

Posted on : Thursday , 27th November 2014

Russia s Lukoil to invest in Nigerian project with Chevron

Russia’s second-largest oil company, privately controlled Lukoil, said on Friday it planned to invest in Nigeria with U.S. oil major Chevron Corporation , part of its push to seek opportunities away from Russia’s state-dominated oil sector. “We have decided to enter a joint block with Chevron in a project in Nigeria, which we consider to be promising,” Chief Executive Vagit Alekperov told.... Read more »

Posted on : Wednesday , 26th November 2014

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