Latest African business news, economy, corporate, markets updates

EU Provides €40 Million Grants to Support Trade, Investment, Industrial Development in Africa

The ECOWAS Commission in Abuja, ECOWAS, West African Economic and Monetary Union (WAEMU) and the European Union, together with implementing partners has launched two major programmes representing an integrated initiative, which aims at promoting intra- and inter-regional trade, improving the business climate and strengthening the productive capacity of West Africa.

These initiatives are aimed at fostering economic growth and reducing poverty in the.... Read more »

Posted on : Tuesday , 6th January 2015

Inchcape Shipping Services expands Nairobi office as East Africa production nears

Global marine, cargo and supply chain solutions provider Inchcape Shipping Services (ISS) has announced another key hire to its African regional management team, as the company gears up for ambitious growth across the region in 2015.

Heading the team and to be based in Nairobi is Riaan Blom who takes up the position of Vice President Sales, Africa having joined the company this month.

Riaan has a spanning over 20 year.... Read more »

Posted on : Tuesday , 6th January 2015

2015 continues to look promising for the oil and gas sector in Kenya

2015 continues to look promising for the oil and gas sector in Kenya with various planned projects expected to continue while new companies will begin work in the various acreages.

In our radar this January is the planned Badada-1 well in Block 9 located in the Anza basin which is expected to spud with the drilling contracts already awarded to Greatwall which will operate the GW-190 land rig while Aberdeen-based Norwell Engineering will manage the dr.... Read more »

Posted on : Monday , 5th January 2015

Bitature woos Belgian investors to East Africa

“We as a country have worked hard over the years to ensure that our future is stable by ensuring peace and security,” he said.

Bitature, who is the chairman Simba Group of Companies made the remarks before the Belgium business community in Uganda at the second gathering of the Belgium Uganda Business Forum. The forum was held at the residence of the Belgium ambassador in Uganda.

He said the private sector in Uganda, to which he asked them to j.... Read more »

Posted on : Saturday , 3rd January 2015

Africa: Jubilee to acquire firms in expansion strategy

“We expect to start operations in various countries from next year. Our approach will involve acquiring existing companies as well as starting new ones,” said the Company‘s Chairman Nizar Juma.

In an interview with Business Beat, Mr Juma explained that the company has already started the process of setting up companies in Ethiopia, DRC Congo, Mozambique, Madagascar, Senegal and Côte d’Ivoire in West Africa.

Posted on : Saturday , 3rd January 2015

Private sector upbeat on increased economic growth as 2015 unravels

They welcomed the Government’s continued commitment to transforming the country’s infrastructure, mainly roads and installation of electricity.

“This demonstrated guarantee will help reduce the cost of doing business and open up the country to quality investments,” Kenya Private Sector Alliance ( KEPSA) Chief Executive Officer Carol Kariuki said in a telephone interview.

She said the business sector is expected to register high gro.... Read more »

Posted on : Saturday , 3rd January 2015

Uganda begins evaluations of bids for Hoima-Kampala pipeline

The Ugandan government has announced that it has started evaluating bids from a number of international firms for the construction of the export pipeline from Hoima (refinery site) to Kampala (distribution terminal) stretching over 200 kilometers.

The companies will be charged with the responsibility of generating a blueprint for the route to be followed as well as carryout an environmental baseline study.

According t.... Read more »