Market News Page No. 543| Africa Business News | Afrotrade

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Atlas Development & Support Services lists on the Nairobi Securities Exchange

Nairobi-headquartered support services and logistics company Atlas Development & Support Services (ADSS or Atlas cross listed on the Growth Enterprise Market Segment (‘GEMS’) of the Nairobi Securities Exchange, having successfully raised KES 450 million (US$5 million) through a private placement to Kenyan investors. According to Atlas CEO Carl Esprey the listing hopes to tap from the growing opportunity in the.... Read more »

Posted on : Wednesday , 17th December 2014

Kenya Power Invest Sh96 Million in Kakamega Power Upgrade

Nairobi — Power supply in Kakamega is expected to improve as Kenya Power conducts a massive operation this weekend to rehabilitate power equipment and network serving the County at a cost of Sh96 million. Managing Director Ben Chumo says the exercise will ensure that the electricity network serving Kakamega County is robust and power supply consistent, to support efforts to minimise power outages occasioned by both planned and.... Read more »

Posted on : Wednesday , 17th December 2014

Kenya to Begin Sale of Power to Rwanda in 2015

KENYA will export power to Rwanda from next year to help the country meet its growing demand for electricity at lower costs. The two East Africa Community member states yesterday signed the power trade deal in which a 220 KV line will be built from Kenya to Rwanda through Uganda to transmit the 30 MW of power to be sold tentatively from July. Under the Power Purchase Agreement signed, Kenya will charge 12 US cents per kilowatt.... Read more »

Posted on : Wednesday , 17th December 2014

Public private tooling partnership yielding results for african manufacturing

The Intsimbi National Tooling Initiative continues to partner with the Department of Trade and Industry (DTI) and the Toolmaking Association of South Africa to provide workplace learning for students that wish to pursue a career in the manufacturing industry. To date, over a period of four years, companies in the manufacturing industry have provided more than 740 000 hours of on-the-job training to students as part of the tooling.... Read more »

Posted on : Wednesday , 17th December 2014

China sparks Investment in African steel industry

Growth in the steel industry worldwide has stabilised following substantial fluctuations during the recession, but a fair amount of uncertainty remains, particularly as a result of structural change in the Chinese economy, according to WorldSteel Association director-general Edwin Basson. The global steel industry produced 1.53-billion tons a year and recorded growth of 3.8% in 2013, with 2% growth expected in 2014. Basson told an.... Read more »

Posted on : Wednesday , 17th December 2014

Africa Manufacturing Industry set to grow over next decade

The government’s substantial infrastructure programme outlined in the National Development Plan is expected to drive demand for steel over the next decade, says Trade and Industry Deputy Minister Mzwandile Masina. He told over 250 delegates to the Organisation for Economic Cooperation and Development (OECD)/South AfricaWorkshop on Steelmaking Raw Materials, in Cape Town, that he expected steel demand, both upstream and downstream,.... Read more »

Posted on : Wednesday , 17th December 2014

Africa seen as increasingly big player in the steel industry

Given its large mining potential, African economies are expected to play an increasingly important role in producing raw materials for the production of steel. The Organisation for Economic Cooperation and Development (OECD) said it was expecting growth from South Africa, in particular, which accounted for 74% of Africa’s total production of iron-ore and 80.4% of its exports in iron-ore in 2012. Mozambique was also an.... Read more »

Posted on : Wednesday , 17th December 2014

Kenya: Sh605 Million for Bungoma Feeder Roads Project

The Bungoma county assembly has approved Sh605 million for rehabilitating roads in the county. The funds are for the second phase of roads improvement scheduled to start in January. Speaking in Bungoma town yesterday, Governor Kenneth Lusaka said the project targets mainly target feeder roads and roads within major towns that are in poor condition. Lusaka said the county government is in the process of purchasing.... Read more »

Posted on : Tuesday , 16th December 2014

German Solar/PV Business Delegation in Kenya and Tanzania

The Delegation of German Industry and Commerce Kenya organized the “Kenyan/ East African –German Conference on Solar PV”, held at the Southern Sun Mayfair on the 29th October. The Kenyan Ministry of Energy and Petroleum co-hosted this event. During the conference, information about current developments in the energy policy and the regulatory framework were given by the Ministry, ERC and REA. In addition, the.... Read more »

Posted on : Tuesday , 16th December 2014

East Africa: Indian Investment to Lead Trade Growth in East Africa

Increased trade between India and East Africa will be driven by private sector-led development, supported by investment from Indian businesses, said participants at a recent workshop organized as part of a United Kingdom government-backed project on Supporting India's Trade Preferences for India (SITA), implemented by the International Trade Centre (ITC). Business leaders joined policymakers and representatives of international organizations.... Read more »

Posted on : Tuesday , 16th December 2014

Vestas Receives Big Order for Kenyan Wind Power Project

International wind energy leader Vestas Wind Systems has announced that it has received an order to provide wind turbines for the 310 MW Lake Turkana Wind Power project in Kenya, Africa — a project that Vestas claims will be the largest wind power project in Africa upon completion..... Read more »

Posted on : Tuesday , 16th December 2014

Africa: CTIL Bags manufacturing Endorsement

Coleman Technical Industries Limited (CTIL) has received the Standards Organisation of Nigeria's (SON's) endorsement to produce high quality voltage cables in the country.\ Director General, SON, Dr. Joseph Odumodu said the endorsement is coming on the heels of the agency's commitment to drive industrialisation in the nation through standardisation. Odumodu during a courtesy visit to CTIL, added that the investment also indicates the.... Read more »

Posted on : Tuesday , 16th December 2014

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