India aims to boost investment in industrial, economic and social sectors of Africa as the 54-nation continent tries to ramp up development to alleviate poverty, the UN General Assembly was told Friday. "Scaled-up investments in infrastructure, both economic and social, as well as in productive capacity for industrial development are needed," Amit Narang, a Counsellor at India's UN Mission, said. "This is an area of.... Read more »

Posted on : Tuesday , 13th January 2015

 Fundraising by Africa-focused private equity has rebounded after the global financial crisis, buoyed by support from the international development finance institutions. Now, the industry hopes to unlock billions of dollars held in African pension funds to dramatically increase the resources available for investment.   Some international investors have found private equity an effective way to gain exposure to Africa's fast-growing.... Read more »

Posted on : Thursday , 8th January 2015

 A scale weighing China's outward direct investments across the globe currently tilts heavily toward Asia, at a whopping 70 percent of total volume by 2013, most of which was poured into Hong Kong. Africa, on the other hand, received less than 5 percent of China's total ODI, at $3.37 billion. But with massive infrastructure projects being planned throughout Africa, such as new railway networks in East Africa and regional air routes at the.... Read more »

Posted on : Thursday , 8th January 2015

 Poised to make sweeping economic reforms at a major development conference in March, Egyptian leaders played up their existing cooperative ties with China during a recent visit to Beijing. At the Egyptian embassy in Beijing early this month, a delegation that included Egypt's ministers of transportation, international cooperation, industry and trade as well as electricity and energy said investment opportunities in their country are on.... Read more »

Posted on : Thursday , 8th January 2015

 National Microfinance Bank (NMB) says in its e-Market report that the shilling close on the strong foot against US dollar, the major trading currency, buoyed by end-month local money demand. “The local currency closed the 2014 yearly trading session on a stronger footing against the dollar buoyed by month end flows and shilling obligations,” NMB says. The shilling, according to BoT, closes the year at 1731.82. However, NMB.... Read more »

Posted on : Wednesday , 7th January 2015

 The plant, which will have the capacity to produce 157,000 tonnes of steel products each year, is expected to go a long way in providing affordable raw materials for the country’s growing construction industry. Top Steel Kenya Limited is the company behind the plans for setting up the multi-billion shilling facility in Mwavumbo area of Kwale County and is in the process of seeking approval from relevant regulators. According to.... Read more »

Posted on : Wednesday , 7th January 2015

 President Paul Kagame and his South Korean counterpart Park Geun-hye yesterday held talks focusing on fostering bilateral relations between the two countries.   The meeting at the South Korean leader’s residence in Busan marked the end of Kagame’s two-day visit to the East Asian country.   By tapping into South Korea's transformation from a developing nation to among the top 20 economies in the world, the two.... Read more »

Posted on : Wednesday , 7th January 2015

Africa should raise the profile of the manufacturing sector by investing in local value addition of its mineral industry to hedge against the falling prices of copper on the world market.   Zambia Association of Manufacturers (ZAM) president Bright Chunga said decisive choices must be made such as local value addition in the mining industry.   This would help tackle effects resulting from fluctuations in the prices of copper on the.... Read more »

Posted on : Tuesday , 6th January 2015

 The total investment  in 2014 has hit a staggering amount of more than D4M, according to its officials.   Most of the investment was focused on water supply, education, health, environment and conflict resolution, the Siffoe based youth-led organisation chairperson, Kalifa Kanteh, disclosed.   Speaking Saturday during the organisation's third annual assembly, he said their projects were divided into 12 core areas; all of.... Read more »

Posted on : Tuesday , 6th January 2015

 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.... Read more »

Posted on : Tuesday , 6th January 2015

 “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.... Read more »

Posted on : Saturday , 3rd January 2015

 “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.... Read more »

Posted on : Saturday , 3rd January 2015