Siemens signs power plant construction deal with Africa

 Siemens has penned down a power plant construction deal with Egypt to fund of the power project that they are set to construct in the country.   The financial closure agreement with German industrial giant Siemens will see Orascom Construction, and El-Sewedy Electric fund the construction of three electricity production undertakings in Egypt. The long awaited function that will see Egypt’s power shortage cut short was overseen by Egyptian prime minister Sherif.... Read more »

Posted on : Tuesday , 24th November 2015

Kenyas dream of oil riches remains a long pipedream

Delays in Lamu Port South Sudan Ethiopia Transport (Lapsset) corridor and the fall in global oil prices will stretch Kenya’s plans to produce oil beyond 2017, a new study says. Oxford Business Group Friday said in its The Report- Kenya 2015 that Lapsset is “ambitious and running behind schedule.” The survey also says that, “production will not begin until the anticipated oil price recovery.” Lapsset connects South Sudan and Ethiopia to Uganda and.... Read more »

Posted on : Monday , 23rd November 2015

Plan hatched to revive construction industry in Southern Africa .

The once thriving construction industry in Botswana will be revived through an economic stimulus programme, MP Dr Pelonomi Venson-Moitoi has announced. Dr Pelonomi said the construction sector was one of the areas that the government eyes to stimulate the economy and create jobs. The decision was informed by assessment that showed the economic benefits of boosting the construction industry in the country. Construction had been badly affected by the economic downturn and the.... Read more »

Posted on : Monday , 23rd November 2015

China to invest in major construction projects in Africa

Chinese firm Henan International Cooperation Group under the jurisdiction of Henan province is set to invest in major construction projects in Nigeria.  This follows a meeting between Henan commissioner Mr. Jiao Jinmiao and Cross River State Governor Ben Ayade in Chinese city of Zhengzhou. Among the planned investments includes constructing a power plant, warehouses, an industrial city where cars, car accessories, spare parts would be manufactured and a distribution centre in.... Read more »

Posted on : Monday , 23rd November 2015

Siemens signs power plant construction deal with Africa

Siemens has penned down a power plant construction deal with Egypt to fund of the power project that they are set to construct in the country. The financial closure agreement with German industrial giant Siemens will see Orascom Construction, and El-Sewedy Electric fund the construction of three electricity production undertakings in Egypt. The long awaited function that will see Egypt’s power shortage cut short was overseen by Egyptian prime minister Sherif Ismail. Upon.... Read more »

Posted on : Monday , 23rd November 2015

Cargo airport in West Africa to be constructed

A US$100.51m cargo airport in Nigeria will be constructed in Nasarawa State,  governor Tanko Al-makura, has said. The governor was speaking during the signing of the financial contract agreement between the state government and Tongyi Group Engineering, a Chinese firm tasked with the construction with their representative HYPAD . The agreement stated that the Chinese firm will be responsible for the project’s finance. However, a Memorandum of Understanding (MoU) had been.... Read more »

Posted on : Monday , 23rd November 2015

French Transport Company Alstom signs US$204mn railway contract with Africa

 French transport solutions provider Alstom has signed two contracts with Egypt's National Authority for Tunnels (NAT) to supply signalling and telecommunications systems and develop infrastructure for the third phase of Cairo Metro Line 3 alstom egypt cairometroOfficials from NAT and Alstom sign contracts for the Cairo Metro.  The two contracts are valued at around US$204mn, said Alstom. Alstom senior vice-president for Middle East and Africa Gian-Luca Erbacci said,.... Read more »

Posted on : Monday , 23rd November 2015

Ford to introduce 30 new vehicles for the Africa markets

 Ford Motor Company is planning to introduce 30 new vehicles in the Middle East and Africa by 2020 as part of its regional expansion strategy CBYCarImagesThe Middle East and Africa is a diverse region for Ford vehicles.  The company revealed that eight vehicles will first be released, all of which will be showcased at the Dubai International Motor Show. The models include the Ford GT super sports car, the Shelby GT350 Mustang, Ford Edge SUV, Ford Explorer SUV, Ford Ranger.... Read more »

Posted on : Monday , 23rd November 2015

EAST AFRICAN COUNTRIES SET TO BE THE FASTEST GROWING COUNTRIES IN THE WORLD

East Africa is head and shoulders above the rest of Africa in meeting the Millennium Development Goals (MDG).   The Gates Foundation has released a report compiled by the Overseas Development Institute, titled: “One foot on the ground, one foot in the air” tracking Ethiopia’s development despite having the lowest human development in the 1990s.   In the wake of massive agricultural investment, a sector which employs three in four Ethiopians and a.... Read more »

Posted on : Monday , 23rd November 2015

East Africa businesses get help to tap American market

 Major plans are underway to boost the capacity of micro, small and medium-sized enterprise players to enable them leverage on the African Growth and Opportunities Act (Agoa) through exports to the US market.   Experts say that despite the recent Agoa Extension and Enhancement Act of 2015, giving Kenya the opportunity to increase its trade volumes with the US, the country has failed to reach its potential.   In 2013, Kenya exported Sh4.47 billion worth of textiles.... Read more »

Posted on : Monday , 23rd November 2015

Isuzu to roll out light trucks in Africa by Q2 2016

 Isuzu’s Nigerian dealer Koncept Autocentre Limited has stated that it will commence the assembly of Isuzu vehicles from Q2 2016 Isuzu has finalised the vehicles that will be produced at the Nigeria plant.  Koncept Autocentre director Victor Eborajolo said that the new assembly plant, which is located at the firm’s premises in Lagos, is undergoing rapid development and currently in the final stages of completing assembly lines. With licenses from the Nigerian.... Read more »

Posted on : Saturday , 21st November 2015

Kenya to allow foreign firms to retain full ownership

 Kenya plans to reform its company law in order to allow foreign firms to establish local branches that can own 100 percent, a senior official said on Monday. Cabinet Secretary for Industrialization and Enterprise Development Adan Mohamed said during a business forum in Nairobi that Kenya recognizes the role that foreign capital plays in the economic development of the country and will create better environment for foreign investment. President Uhuru Kenyatta in September.... Read more »

Posted on : Saturday , 21st November 2015