Market News Page No. 592| Africa Business News

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.... Read more »

Posted on : Friday , 8th August 2014

US$48.2m released by Tanzanian Government for housing project

WHC is going to construct 50,000 housing units that government workers will be able to buy through low interest mortgage system. The units will be built in five phases, of which the government has released US$48.24m for the construction of the first phase. In this phase, houses will be built in Dar es Salaam, Coast Region, Tanga, Arusha, Mwanza, Shinyanga, Mtwara, Lindi, Tabora, Dodoma, Morogoro, Kilimanjaro, Ruvuma and Mbeya. The.... Read more »

Posted on : Friday , 8th August 2014

Kenya: Voi Reaps Big From Kenya's First Major Carbon Project

For many years, residents of Kasigau location in Voi lived off felling trees, clearing bushes and burning charcoal in an open-canopy forest where they call home, but a carbon trading project is empowering thousands of residents here to embrace new sustainable sources of livelihoods. The smoky overhead that traditionally engulfed the forest has now paved way to a clear, fresh atmosphere as people adopt new sources of.... Read more »

Posted on : Friday , 8th August 2014

Nairobi skyline to soar higher with Kenya's tallest tower

Construction is well underway on the 40-storey Hazina Trade Centre in Nairobi, which is tipped to be the tallest building in East and Central Africa – and the third tallest in Africa. The Hazina Trade Centre, which is being developed by the National Social Security Fund (NSSF), will unseat the city’s 38-storey Times Tower as the tallest building in the region upon its completion in 2016. The tower was designed by Mruttu &.... Read more »

Posted on : Friday , 8th August 2014

Africa's Richest Man Aliko Dangote Partners Blackstone, Carlyle In $5 billion Energy Deal

Two of America’s largest private equity firms are teaming up with West Africa’s largest industrial conglomerate, Dangote Industries, to invest in Africa. According to a report by the Wall Street Journal, Black Rhino Group, a portfolio company of Blackstone Energy Partners and affiliated funds managed by Blackstone Group, is partnering with Dangote Industries, owned by Africa’s richest man, Aliko Dangote, to.... Read more »

Posted on : Friday , 8th August 2014

Uganda embarks on distribution of Long Lasting Insecticidal Nets to combat malaria

Why the Mass Distribution of Nets in Uganda is a success story so far? The Ministry of Health in Uganda and its financing partners, have succeeded in distributing Long Lasting Insecticidal Nets to 98% of its districts. This is one of the most costly, most ambitious and most cost effective moves in Health Care and as regards Malaria prevention. Its goal is to achieve what is termed as Universal Coverage to curb the mortality and morbidity.... Read more »

Posted on : Friday , 8th August 2014

UNAIDS, ASLM and Partners Launch Initiative to Improve HIV Diagnostics

The Joint United Nations Programme on HIV/AIDS (UNAIDS) and the African Society for Laboratory Medicine (ASLM) (http://www.aslm.org) have joined with global partners to launch the Diagnostics Access Initiative which calls for improving laboratory capacity to ensure that all people living with HIV can be linked to effective, high-quality HIV treatment services.Partners in the initiative include UNAIDS, the World Health Organization (WHO), the.... Read more »

Posted on : Saturday , 6th September 2014

Build a house in 8 days with precast concrete technology

As Kenya grapples with an acute shortage of housing, entrepreneurs are at the front-line of efforts to provide low cost homes to medium and low-income households. A growing list of builders are now adopting new technologies in building their latest projects. Precast concrete is one such technology that promises to increase the supply of affordable homes in the country. Precast concrete is made by casting concrete on a steel pallet in a.... Read more »

Posted on : Friday , 8th August 2014

Akuakare to Participate at the FOODEXPO Africa 2014

Akuakare Aquaculture Equipment Ltd, Turkeys leading company in Aquaculture Fisheries & Poultry Equipments is to participate in the FOODEXPO AFRICA 2014, Africas largest international Food, Hospitality & Agriculture trade exhibition is gearing up to feature the latest products, equipment and machinery. It will be held from the 3rd to 5th of October 2014 at the KICC Nairobi, Kenya. Akuakare Aquaculture Equipment Ltd, are.... Read more »

Posted on : Thursday , 7th August 2014

Tata Power explores Renewable Energy Opportunities in Africa

Tata Power is looking for expansion opportunities in East Africa. The private power utility has an installed generation capacity of more than 8,580 MW, with around 1,170 MW coming from clean energy sources. Tata Power, Chief — Business Development, India Business & Renewables, Rahul Shah told PTI that the company was looking for opportunities in the renewable energy space, within Africa. Opportunities are being eyed in.... Read more »

Posted on : Thursday , 7th August 2014

Energy Infrastructure Development in East Africa

Power infrastructure in the East African countries of Uganda, Kenya, Tanzania and Rwanda is inherently connected to their economic growth. As urbanisation and industrialisation fuel the need for electricity in cities, the demand for electricity in East Africa is expected to grow at approximately 5.3 percent per year until 2020. To meet these requirements, generation capacity would have to increase by 37.7 percent in Uganda, 96.4 percent in.... Read more »

Posted on : Wednesday , 6th August 2014

East Africa holds major oil and gas opportunities

East Africa would be the next major oil and gas play on the continent, professional services firm PwC Africa Oil & Gas Advisory senior manager Derek Boulware said Speaking at the launch of the firm’s 2014 Africa oil and gas review titled ‘On the brink of a boom’, he noted that, while about 15 000 wells had been drilled in West Africa to date, only about 500 had been drilled in East Africa. “There is a.... Read more »

Posted on : Wednesday , 6th August 2014