Africa and China to build US$3.3bn port

 Africa and China have signed a US$3.3bn deal to build a new transshipment port around 60km west of Algiers portconstruction washingtonstatedeptoftransportation flickrAlgeria as a trade hub is rising in importance in East Africa, making it viable to build a port. (Image source: Washington State Dept of Transportation/Flickr) The agreement was signed between Algeria’s transport ministry, China Harbour and Engineering Company (CHEC) and China State Construction Engineering.... Read more »

Posted on : Thursday , 21st January 2016

Djibouti begins constructing first ever solar power plant

 Djibouti has begun constructing its first ever solar power plant located in Grand Bara, in the south of the country aimed to cut the cost of energy and add 50 megawatts of power towards a capacity of 300 megawatts.   The US$ 390m project is as a result of a partnership between the Republic of Djibouti and Green Enesys, a German company specializing in renewable energy.   Energy Minister Ali Yacoub Mahamoud confirmed the reports and said that construction work.... Read more »

Posted on : Thursday , 21st January 2016

Construction of Port Reitz/Moi International Airport Access Road launched

 The construction of the US$ 31m Port Reitz/Moi International Airport Access Road in Mombasa, Kenya has finally been launched by President Uhuru Kenyatta and is expected to ease traffic by allowing faster flow of goods.   The project which is being implemented by the Kenya National Highways Authority (KeNHA) and overseen by TradeMark East Africa (TMEA) is being financed by the United Kingdom government and partly by the Kenyan government.   The UK government’s.... Read more »

Posted on : Thursday , 21st January 2016

Rwanda Special Economic Zone Continues to Attract Investors

As Rwanda is the second easiest place to do business in Africa after Mauritius, as indicated by the World Bank's 2016 Doing Business report, its Special Economic Zone has continued attracting investors.   The Special Economic Zone program within the Rwanda Development Board (RDB) is designed to address domestic private sector constraints such as availability of industrial and commercial land, availability and the cost of energy, limited transport linkages, and regional and.... Read more »

Posted on : Wednesday , 20th January 2016

Rwanda: Govt, Private Sector Move to Streamline Textile Industry

The Ministry of Trade and Industry and the Association of Professional Tailors plan to set up a tailoring factory under a company to be named "Kigali Garment Centre" to reduce importation of second hand clothes, Minister Francois Kanimba said.   Speaking at a dialogue with the tailors, yesterday, in Kigali, the Trade and Industry minister said the factory would be set up by the end of the year.   The association was formed recently. It has since elected its.... Read more »

Posted on : Wednesday , 20th January 2016

UK Firm Ready to Build Iron Smelter in Chambishi

A United Kingdom (UK)-based company has expressed interest in putting up an iron smelter at the Chambishi Multi-Facility Economic Zone (CMFEZ).   Zambia-China Economic and Trade Corporation spokesperson Stephen Lindunda said in an interview that the UK-based company was interested in establishing the iron smelter at CMFEZ.   He said 10 Chinese companies had also expressed interest in investing in the manufacturing of different goods within the zone.   Bishop.... Read more »

Posted on : Wednesday , 20th January 2016

Joint Sweden-UK Package for Tanzania's Grid

Sweden and the United Kingdom have raised $67 million towards Tanzania's rural electrification programme.   'The main objective of the financing programme is to increase access to modern energy services in rural areas of mainland Tanzania for sustainable social economic development and poverty alleviation,' the official statement read sin part.   Sweden through the Swedish International Development Agency (Sida) together with the UK government through the Department for.... Read more »

Posted on : Wednesday , 20th January 2016

IMF Puts Kenya Growth At 5.6 Percent

 Kenya's economy will grow at 5.6% slower than earlier projected, but several major infrastructure projects will help to shore up its prospects.   'The economy is projected to continue to expand robustly, although at a slower-than-projected pace. Real GDP is projected to grow by 5.6 percent in 2015 driven by public infrastructure spending, buoyant credit growth, and strong consumer demand,' Vitaliy Kramarenko who recently led an International Monetary Fund team said in a.... Read more »

Posted on : Wednesday , 20th January 2016

CEOs Place Kenya Among Top Investment Places

 Global logistics executives have ranked Kenya among the top promising investment markets in Africa, after South Africa and Nigeria.   A report titled Agility Emerging Markets Logistics Index 2016 says a fast-growing middle class and the demand for mineral resources are important growth drivers in the country.   Others are new oil and gas finds, rapid infrastructure development, stronger agricultural demand and increased foreign direct investments.   While.... Read more »

Posted on : Wednesday , 20th January 2016

African Country banks on president Xi Jinping’s visit to boost infrastructure

 Egypt banks on president Xi Jinping’s visit later this month to boost its infrastructure network seen as a key driver of the economy. A number of agreements that will align the economic interests and development goals of China and Egypt are expected to be signed when Mr Jinping visits Cairo.   According to a statement from cabinet ministers the county is focusing more in area of electricity, transportation, construction, agriculture, industry, and.... Read more »

Posted on : Wednesday , 20th January 2016

OIL & GAS ARFRICA 2016 ramps up with bigger, better venue

Africa’s largest international trade exhibition for the Oil & Gas industry - OIL & GAS AFRICA 2016 returns this year with a much bigger event at a brand new, larger and conveniently located venue. From June 10 - 12, 2016, The Carnivore in Nairobi, Kenya, will see tens of thousands of buyers and visitors from across the world foster partnerships and collaborations in the rapidly expanding Industry. With as much as 11,000 sq.mts of exhibition space, the 5th.... Read more »

Posted on : Tuesday , 19th January 2016

Dangote to construct cement manufacturing plant in Africa

 Dangote Group now plans to construct a cement  manufacturing plant in Zimbabwe chief strategist, Dr Abdu Mukhtar,has said. He added that they now feel comfortable and are excited about venturing in Zimbabwe.   Dr Mukhtar said was satisfied with the preliminary work and was ready to roll out its projects.   He added that the group’s geologists, who set camp in the country on Wednesday, would remain on ground for site visits and collection of samples for.... Read more »

Posted on : Tuesday , 19th January 2016