Market News Page No. 572| Africa Business News | Afrotrade

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Hyundai to assemble delivery vans in SA

SOUTH Korean car manufacturer Hyundai is preparing to build vehicles in South Africa. The Seoul-based company’s local representative has confirmed it will assemble light delivery vehicles in Gauteng from next year and may manufacture cars in South Africa at a later stage. Despite not officially releasing sales figures, Hyundai is generally considered a strong third in the South African new-car market, behind Volkswagen.... Read more »

Posted on : Saturday , 6th September 2014

Ethiopia plans Africa's biggest dam

Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries. Dubbed the Grand Ethiopian Renaissance Dam, it will be Africa's biggest dam and will depend on water from the 6,700-km Nile River, the world's longest river. But.... Read more »

Posted on : Saturday , 6th September 2014

South Africa: Gearbox oil launched

Petroleum products refining company Engen announced in July that it had launched its Gengear XEP-series indus- trial gearbox oils for high performance under pressure applications onto the local market. After the recent introduction of the energy-saving hydraulic fluid Hydrokin ESF-series at customer events in Cape Town, Port Elizabeth, Durban and Johannesburg, Gengear XEP customer introductions will be part of a second series of roadshows in.... Read more »

Posted on : Saturday , 6th September 2014

South Africa: Diesel vehicle sales push fuel development

Increasing local demand for diesel vehicles is pushing development of diesel fuels to become more environment friendly while increasing engine power, reports petroleum industry company BP. South African diesel-vehicle drivers will be able to benefit from BP’s latest-generation diesel fuel, which was showcased in February at Johannesburg-based vehicle test track facility Gerotek. Speaking at the briefing, BP global head of diesel.... Read more »

Posted on : Saturday , 6th September 2014

Continued growth expected for East African transmission and distribution industry

Regional interconnections and oil discoveries are expected to drive the transmission and distribution industry’s (T&D’s) growth in East Africa, the second-fastest growing region in Africa, global growth consulting firm Frost & Sullivan said on Tuesday.The region’s power sector was currently highly underdeveloped and had the lowest electricity access rate on the continent, the firm stated while highlighting that East.... Read more »

Posted on : Saturday , 6th September 2014

Hudaco strengthens auto businesses with Partquip acquisition

Industrial products importer JSE-listed Hudaco has inked a deal to acquire automotive components distributor Partquip for R550-million, complementing the group’s existing automotive after-market businesses, which distribute clutches, seals and automotive bearings. “Partquip is an ideal fit for Hudaco in that its main business is the distribution of branded products, an area of core competency for Hudaco,” the group said in a.... Read more »

Posted on : Saturday , 6th September 2014

New commercial vehicle assembly plant in South Africa

Through its new commercial vehicle assembly plant, in Benoni, east of Johannesburg, automotive company Hyundai Automotive South Africa (HASA) was increasing its contribution to the local economy, CEO Alan Ross said on Thursday at the plant’s official opening. The 32 000 m2 semi-knocked-down (SKD) assembly plant, which had been established through a R110-million capital investment from HASA parent company Associated Motor Holdings, started.... Read more »

Posted on : Saturday , 6th September 2014

VW launches new Polo Vivo

Four years after the introduction of the locally built Volkswagen Polo Vivo to the market in 2010, Volkswagen South Africa (VWSA) on Friday launched a new-look Polo Vivo. Distribution of the new Polo Vivos to the various VW dealerships around the country had already started, with an intensive marketing campaign to start on Sunday. Speaking at the Johannesburg media launch of the new Vivo, VWSA communications GM Matt Gennrich noted.... Read more »

Posted on : Saturday , 6th September 2014

Namibia: GM Sales Gather Speed in Africa

General Motors South Africa (GMSA) confirmed that the new Opel Adam hatchback and Mokka SUV will arrive locally in 2015. The new models form part of Opel's global product offensive which will see 27 new vehicles and 17 engines launched by 2018, and reaching a growing African market. Mario Spangenberg, president of GM Africa, reports that the company has invested over R1.7-billion in its Africa operations in the past few years. He said.... Read more »

Posted on : Saturday , 6th September 2014

Acorn Group Kenya injects US$455m into a Real Estate project

Acorn Group Africa, a real estate firm in Kenya is going to inject US$455m into a real estate project that will see the firm construct shopping malls, commercial offices, residential properties and commercial hotels in Nairobi, Lukenya and Kitengela. The project is expected to commence in October this year with funds sourced through equity and bank loans. The firm aims to meet the growing demand for retail and residential property by both the.... Read more »

Posted on : Saturday , 6th September 2014

Hyatt Regency Arusha, Tanzania to be constructed at US$60m

Hyatt Hotels Corporation has entered into a partnership with ASB (Tanzania) Limited that will see the later construct a new 300-room five star hotel. The new hotel will be called Hyatt Regency Hotel Arusha. The building permit was awarded to ASB on May 7th this year. Located at the heart of Arusha, the 300-room five-star hotel will be in close proximity to some of Africa’s most famous natural landscapes and national parks,.... Read more »

Posted on : Saturday , 6th September 2014

Tetra Tech signs US$25m contract for Phase 1 of Konza City

Tetra Tech Inc will oversee development of phase 1 of Konza city following the signing of a contract between them and Konza Technopolis Development Authority (KoTDA). Colorado-based Tetra Tech was selected as the Master Delivery Partner 2 (MDP2) in the Kenya’s smart city construction project. Other partners in the MDP2 consortium are 11 firms from Netherlands, UAE, US, Germany and five firms hail from Kenya. According to the Vice.... Read more »

Posted on : Saturday , 6th September 2014

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