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Latest Business News

Rehabilitation of 600km Lesseru - Napadal road to boost trade with S Sudan

The road  starts from Lesseru and traverses Kitale, Marich Pass, Lodwar and Lokichogio, ending at Nadapal border between Kenya and South Sudan. It  covers about 605km.

 
The poor condition of the road which is considered a major link road along the Northern Corridor prompted the Kenya National Highways Authority to procure the services of three consultants to conduct studies before the start of majorrehabilitation work.
 
.... Read more »

Posted on : Monday , 29th December 2014

LAFARGE TO MERGE AFRICAN UNITS IN $1.35 BLN DEAL

 French cement maker Lafarge will combine its South Africa business with publicly traded Nigerian unit Lafarge Wapco, its country CEO said.

Read more »

Posted on : Monday , 29th December 2014

Ghana devises plan to curb power crisis

 GHANA is making frantic efforts to finance a plan aimed at paying for gas supplied to the Volta River Authority (VRA) and the power producers in the event of a cash fall, local daily newspaper reported.

This is part of plans to avert rising power crisis.
According to the publication, Ghana National Petroleum Corporation (GNPC) is working on a fall-back financing plan widely believed to boost the production of gas in the country.
GNPC Import an.... Read more »

Posted on : Monday , 29th December 2014

Uganda s oil refinery project good for East Africa

 UGANDA'S progress in transforming the oil assets and the plan to build refinery project has attracted criticism, skepticism and resistance, a challenge that will test government’s stamina to make independent decision for the benefit of its citizens.This is after protracted efforts to search for oil and gas in the Lake Albert basin confirmed 2.5 billion barrel of crude oil in reserves meaning that at least one billion barrels oil equivalent can be recovered.Amongst oil pr.... Read more »

Posted on : Monday , 29th December 2014

Somalia exploration positions East Africa as the new oil and gas frontier

 East Africa has been emerging as a major new frontier in the oil and gas industry for some time, and the latest news that Somalia has opened itself up to exploration is a further sign that the region is aware of the limitless potential that its oil and gas reserves present.

 
The world's oil and gas industry has been keeping increasingly close tabs on East Africa as a slew of new projects have sprung up, with gas reserves being developed off the coas.... Read more »

Posted on : Monday , 29th December 2014

INDIAN EXPORTERS -NEW STRATEGY TO TAP THE EAST AFRICAN MARKET

 It is high time Indian exporters and investors turned their attention to the five countries in the East African Community, which is surging ahead with reforms and has become the second fastest economic bloc in the world

The realisation of a large regional economic bloc with a combined population of more than 141.1 million people, land area of 1.82 million sq.km and a combined Gross Domestic Product of $99.8 billion, bears great strategic and geopolitical significance.... Read more »

Posted on : Monday , 29th December 2014

Africa To Be A Major Market To Help Achieve the 2 Billion Target

 The company aims to add 1 billion new customers by 2020, so as to double its existing user base. The majority of the growth is expected to come from emerging nations like Asia, Africa, and Latin America. We believe Africa will play a pivotal role in L’Oreal’s expansion plan. The Middle East and Africa segment is the fastest growing geographical segment for L’Oreal (approximately 15% year on year). In 2013, L’Oreal’s revenues grew by 2.3% to €.... Read more »

Posted on : Monday , 29th December 2014

DUBAI'S COMPANY BUYING $300 MLN STAKE IN AFRICAN INDUSTRY

 Investment Corp of Dubai has agreed to buy a 300 million dollar stake in Dangote Cement.

Read more »

Posted on : Monday , 29th December 2014

East Africa speeds up energy projects

 East African governments have doubled their efforts to increase energy output, with several multi-million dollar projects on the cards.

The aim is to meet rising demand as well as attract more investments, after the 2014 World Bank Ease of Doing Business report noted that low energy output remains a hurdle for investors.
In the past two months, Rwanda, Tanzania and Kenya have announced a number of power upgrade projects.
Rwanda recently announ.... Read more »

Posted on : Monday , 29th December 2014

Kenya: Africa s largest wind power project achieves full financial close

Following the financial close of Lake Turkana Wind Power Project (LTWP), the first disbursement of funds pursuant to the financing agreements signed in March 2014 has been received.
The Sh70 billion project is the largest single wind power project to be constructed in Africa and is to date, the largest private investment in the history of Kenya and the most complex and challenging project financing undertaken in the renewable energy space in sub-Saharan Africa.
.... Read more »

Posted on : Monday , 29th December 2014

NEW SOLAR POWER PLANT TO COME UP IN UGANDA

 Uganda announced that our foreign and domestic firms would build two solar power plants, with a total capacity of 20 megawatts (MW) as it seeks to develop its renewable energy potential.

Keen on expanding its capacity to support an industrialization drive, the east African country is currently pursuing several multi-billion-dollar projects. Officials previously said the government was also looking for investors to develop solar energy and other renewa.... Read more »

Posted on : Monday , 29th December 2014

SolarCity invests US$16 million for off-grid solar power plant in Africa

 US installer SolarCity is among the investors in a US$16 million funding round closed this week by Off Grid Electric, a company offering pre-paid solar systems in Africa.

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Posted on : Monday , 29th December 2014



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