African Cotton to Be Exported Duty, Quota-Free

African countries can now export their cotton to developed countries duty-and quota-free as from January following a global deal sealed in Nairobi at the World Trade Organisation Ministerial Conference.   The ministers agreed on a deal that will allow least developed countries (LDCs) to export more cotton to developed countries.   This will help LDCs, mainly those in sub-Saharan Africa, to gain greater access to non-producing foreign markets because of the suppressed.... Read more »

Posted on : Monday , 28th December 2015

East Africa: Direct Flights Boost Sino-Kenya Trade and Exchanges

Nairobi — The direct flight between the Chinese city Guangzhou and Kenya's capital Nairobi launched by China Southern Airlines in August has elevated Sino-Kenya relations, airline officials say.   Linda Masinde, a supervisor at China Southern Airlines Nairobi office, said the Nairobi-Guangzhou direct flight had enhanced Sino-Kenya trade and people-to-people exchanges.   "The direct flight from Nairobi to Guangzhou is popular with Kenyan business people and.... Read more »

Posted on : Monday , 28th December 2015

Iran-Africa Cooperation - Flourishing Relations

Africa and the Republic of Iran have centuries of friendship. They struggled for freedom, equity and justice for their people and beyond. The two have also shared rich culture and people to people relations for long. The Iranian foreign and economic policies always give special attention for the African Continent and put it at the centre. After its revolution, the Republic of Iran has changed its foreign policy orientation and its economic ties towards developing countries based on.... Read more »

Posted on : Saturday , 26th December 2015

Zaire Province Is Open to Private Investment - Says Governor

Mbanza Congo — The governor of the northern Zaire province, José Joanes André, said on Tuesday in Mbanza Congo city that the province is open to welcome entrepreneurs who want to invest in various socio-economic areas in the region, aiming at contributing to its development.   According to Joanes André, who spoke at the traditional yearend greetings ceremony, the present time the country is experiencing requires the combination of efforts of all.... Read more »

Posted on : Saturday , 26th December 2015

Zambia: Bio-Refinery Welcome Development

The construction of Zambia's first bio-refinery to cater for 20 per cent of the country's petroleum requirements has come at the right time when the country is in dire need of cheaper energy to propel its economy.   We have, therefore, every reason to appreciate the development because of the multiplier effect that is associated with the project.   The development is welcome because Zambia has been grappling with limited sources of fuel for a long time.   In this.... Read more »

Posted on : Saturday , 26th December 2015

AfDB Spends U.S.$1Billion On Energy Projects

The African Development Bank (AfDB) says it had devoted at least $1 billion to finance power and infrastructure projects in Africa this year alone.   In October, the AfDB availed $428,43 million in loans and grants to finance projects in energy, infrastructure, transport and water and sanitation in eight African counties namely Zimbabwe, Guinea Bissau, Guinea, Senegal, Gambia and Côte d'Ivoire, Ghana and Tanzania.   Of these funds, Zimbabwe received a grant of.... Read more »

Posted on : Saturday , 26th December 2015

Africa Is Last Frontier for Carmakers on the Hunt for Growth

When Nigeria first unveiled incentives for carmakers to set up plants its auto industry had ground to a standstill. Fast forward two years, and there are at least 36 automakers with production licenses in the continent’s biggest economy, with Volkswagen AG, Nissan Motor Co. and Ford Motor Co. already making vehicles with local partners. The country is seeking to join South Africa as the only manufacturing base for the car industry in sub-Saharan Africa, with countries from.... Read more »

Posted on : Thursday , 24th December 2015

China Africa Development Fund Hits 5 Bln USD

The China Development Bank has hit its target of pooling 5 billion U.S. dollars this year in its equity investment fund for investment in Africa, it said on Friday. It has already allocated or earmarked nearly 3.2 billion U.S. dollars in the China Africa Development Fund (CAD Fund) for more than 80 projects from infrastructure to agriculture to energy resources in 35 African countries. The bank estimated that these projects will attract Chinese enterprises to invest a further.... Read more »

Posted on : Thursday , 24th December 2015

Africa: The Place Automakers Need to Go After

It may be a bit of a long shot, but African countries like Nigeria could be the final frontier for any automakers looking to cash in on the benefits of globalization and the financial fortitude of emerging markets. Long considered a lost cause due to prolific amounts of poverty, Africans in certain countries have amassed enough wealth that car manufacturers are actually starting to consider the continent’s legitimacy as a contender for future growth. Sure, Nigeria had a.... Read more »

Posted on : Thursday , 24th December 2015

Energy firm concludes construction of gas-powered plant in Mozambique

The Gigawatt Mozambique power company says it has completed the construction of a gas-fired power station at Ressano Garcia, on the border with South Africa, with the initial capacity to generate 120 megawatts, APA can report on Thursday. The company’s managing director, Johan de Vos, said in a media statement emailed to APA that the power station was built in 18 months, on schedule, below budget and without any significant accidents. The $200 million project will inject.... Read more »

Posted on : Thursday , 24th December 2015

Japan to Lend Uganda Shs559 Billion for Flyovers

Kampala — Uganda and Japan have concluded a loan agreement for financing the construction of flyovers in Kampala.   Japan will lend Uganda ¥19.989 million (about Sh559b) for the proposed flyovers at Kitgum House intersection on Jinja Road, and at Queen's Way on Entebbe Road.   The loan, which was signed recently, will come with a 0.01 per cent interest rate per annumm and is to be repaid in 40 years. It is hoped the flyovers will ease the flow of traffic to and.... Read more »

Posted on : Thursday , 24th December 2015

Kenafric's Sh1bn Soda Plant Stirs Beverage Market

Sweets maker Kenafric Industries is set to diversify into the production of soda in a move that will intensify competition in the industry that is currently dominated by Coca-Cola and PepsiCo.   Kenafric plans to set up a Sh1 billion factory to manufacture sodas and ready-to-drink juices at its headquarters in Ruaraka, Nairobi, during the second half of next year.   About 30 per cent of the total cost of the investment will be debt while the balance is a mix of the.... Read more »

Posted on : Thursday , 24th December 2015