Market News Page No. 593| Africa Business News | Afrotrade

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Obama Announces $33B in Commitments for Africa

Seeking to strengthen America's financial foothold in Africa, President Barack Obama announced $33 billion in commitments Tuesday aimed at shifting U.S. ties with Africa beyond humanitarian aid and toward more equal economic partnerships. The bulk of the commitments came from private-sector companies, including Coca-Cola and General Electric, underscoring Africa's growing appeal to businesses. The continent is home to six of the.... Read more »

Posted on : Wednesday , 6th August 2014

Huhtamaki Positive Packaging deal will target Africa and UAE

Huhtamaki will acquire Positive Packaging for $336m, with the sale expected to be complete by September. The acquisition of the privately owned flexible packaging company includes all nine manufacturing facilities including India, Africa and the UAE and the business will now become part of Huhtamaki’s Flexible Packaging division. Product development Katariina Hietaranta, head of group communications and investor relations,.... Read more »

Posted on : Wednesday , 6th August 2014

Dangote Makes Africa's Largest Single Investment In Rice Production

VENTURES AFRICA – Africa’s richest man and king capitalist, Alhaji Aliko Dangote has pledged to invest $1 billion (N165 billion) in Nigeria’s commercial rice farming; making it the largest single investment ever made in rice production on the continent. The investment will see the establishment of two modern integrated rice mills. They will both have the capacity to mill 120,000 Metric Tons of rice.... Read more »

Posted on : Wednesday , 6th August 2014

Creation of new jobs and improve competitiveness through development of industrial zones in East Africa

The World Bank’s Board of Executive Directors today approved monetary support to the Government of Kenya effort to create new jobs and increase competitiveness in the light manufacturing sector through the development of industrial zones and enhancing linkages with the local economy. .... Read more »

Posted on : Wednesday , 6th August 2014

Raising the Quality of Medical Education and Health Services in East Africa

While Kenya has made tremendous progress recently by reducing child mortality and getting more children into school, new data published today suggest that raising the quality of public education and health services is essential to build on these gains. Otherwise, far too many children will attend school without learning enough and too many patients leave clinics without the right treatment. Service Delivery Indicators.... Read more »

Posted on : Wednesday , 6th August 2014

Africa's economy growing; U.S. wants to bolster partnerships

They export BMWs and birdseed and plenty in between. Their middle class is growing fast enough to draw the likes of Marriott and Walmart. China, Europe, Japan and the U.S. are vying to build roads and power plants there. No longer is sub-Saharan Africa - long a symbol of war, famine and corruption - an economic basket case. Six of the world’s fastest-growing economies are there. Higher oil prices, richer consumers and sounder.... Read more »

Posted on : Wednesday , 6th August 2014

Coca-Cola To Invest $5 Billion In Africa To Unlock Growth Potential

The Coca-Cola Company (KO), along with its bottling partners, will invest $5 billion in Africa over the next six years. This will bring Coca-Cola’s total investment in the continent to $17 billion –from 2010 to 2020-. The latest announcement was made in the US-Africa Leaders’ Summit. The investment will be used to fund new manufacturing lines, cooling and distribution equipment, and will also be used to improve production.... Read more »

Posted on : Wednesday , 6th August 2014

Africa Oil, Tullow likely to seek partner for Kenya oil fields

Canadian explorer Africa Oil Corp. and its partner Tullow Oil are likely to bring in a third partner to help develop their oil discoveries in northern Kenya, Africa Oil’s chief executive officer said. The firms discovered oil reserves in Block 13 T and Block 10 BB in northern Kenya’s South Lokichar Basin, estimated at a combined 600 million barrels. Experts say those reserves are enough to make a pipeline viable even without.... Read more »

Posted on : Wednesday , 6th August 2014

Specialized Power Systems at Power & Energy Expo Kenya

Specialized Power Systems Kenya, a major distributor of power and energy products represented IREM SpA, a reputed Italian manufacturer of electrodynamic and electronic voltage regulators and line conditioners in indoor and outdoor version with power ratings from 1 up to 3300 kVA. IREM products are exported world-wide and are highly appreciated in those applications where quality, reliability and sturdiness are irremissible, like e.g..... Read more »

Posted on : Tuesday , 5th August 2014

Shandong Kerui Petroleum eyes the Kenyan market

China’s Kerui Group which specializes in trading, oil exploration development and renowned as the key manufacturer and supplier of heavy duty equipment extensively used in petroleum exploration and delivery is eying Kenya as the next base of its operations for the East African region. The company already has a presence in 49 subsidiary offices is already present in a number of African states including its largest market.... Read more »

Posted on : Thursday , 7th August 2014

Tanzania: Cotton Firm Trains Farmers How to Improve Production

Mwanza — COTTON and textile development programme (CTDP) is promoting twenty high performing farmers to be village-based agro dealers in charge of quality input service providers. CTDP input Market Manager, Ms Lillian Magak said here over the week-end that the dealers have been trained by experts from the Arusha-based Tropical Pesticides Research Institute (TPRI) to ensure that they buy seeds on time, and from reliable.... Read more »

Posted on : Tuesday , 5th August 2014

Kenya: Coffee Board Takes Crop to Western

The Coffee Board of Kenya will introduce the Robusta variety in western Kenya in a bid to boost the country's total production by enabling non-traditional areas to grow coffee. It said this, besides encouraging farmers to grow other varieties, will reverse the declining production of the crop. "We will create awareness among farmers in Rift Valley areas of Bomet and Nandi, and in western Kenya zones that border.... Read more »

Posted on : Tuesday , 5th August 2014

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