Market News| Africa Business News

Kenya's Exports to Go Up By Sh10 Billion

Kenya's manufacturing sector is set to get a new growth stimulus when an Africa-wide trade pact that could provide access to a big market is implemented. In June, African leaders signed a 26-nation pact -- the Tripartite Free Trade Agreement (TFTA) -- to create a common market covering half of the continent. As the regional trade integration agenda is implemented, Kenya is expected to cash in on the combined GDP of over.... Read more »

Posted on : Friday , 4th December 2015

China to Place Zim On Investment 'Priority List'

Happiness Zengeni and Tinashe Makichi Zimbabwe's economic fortunes are set to change dramatically once it is admitted into an exclusive group of countries being targeted by China for investment. International Co-operation Centre-National Development Reform Commission of China director-general Dr Cao Wenlian told a China-Zimbabwe Business Forum yesterday that China was looking at admitting Zimbabwe into the priority list of African.... Read more »

Posted on : Wednesday , 2nd December 2015

Crown Paints to construct a manufacturing plant in Kenya

Crowns Paints Kenya Ltd is planning to construct a factory in the Western Kenya that will help reduce cost of transporting paint from its Nairobi plant. The new plant which is also expected to help increase the output of the company will cost US$ 4m for it to be complete. Chief Executive of Crown Paints Rakesh Rao confirmed the reports and said that the new plant will foster growth and better service in that region since.... Read more »

Posted on : Saturday , 28th 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.... Read more »

Posted on : Monday , 23rd 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.... Read more »

Posted on : Saturday , 21st November 2015

Four industrial parks in East Africa to be contracted

Four industrial parks in Ethiopia will be constructed in the next two years that will cost US$ 2bn, a senior government official has confirmed. Trade and industry State Minister Tadesse Haile confirmed that the concerned people have finalized on the inspection of four more parks in the eastern town of Dire Dawa, Kombolcha and Mekelle in the country’s North, and Adama in the capital’s south waiting for the launch that.... Read more »

Posted on : Friday , 20th November 2015

Chinese Investors to Build Livingstone Trade Centre in Africa

Consortium investors from Tianjin, Northern China have pledged to establish an international procurement centre in Livingstone to facilitate the buying and export of Zambian products to China and possible markets. A business delegation which is in Zambia to explore investment opportunities in the country have also pledged to invest more than US$20 million to establish manufacturing plants for various machines and products in.... Read more »

Posted on : Thursday , 19th November 2015

Arki Mineral Water Bottling Factory Inaugurated

The Arki Mineral Water Bottling Factory constructed at a cost of 40 million Birr was inaugurated last Saturday. It has created permanent job opportunities for 110 citizens. Speaking at the inauguration ceremony, Industry State Minister Dr. Alemu Sime said that the industry and service sectors make significant contribution to the country's economic development.Although the country's development has shown commendable achievements,.... Read more »

Posted on : Wednesday , 18th November 2015

Ethiopia: Local Company Wins 800 Million Br Bid to Supply Re-Enforcement Bars

Local steel company, Steely R.M.I., is supplying 44,075mt of reinforced steel bars worth 804.9 million Br to the government and signed a contract to this effect with the Public Procurement & Property Disposal Service (PPPDS) on November 9, 2015. The government will pay this company 91 million Br more for the supply than if it had accepted the lowest offer. Steely's price of 18,262 Br per tonne was actually higher by a wide margin.... Read more »

Posted on : Wednesday , 18th November 2015

Zimbabwe: SA, Chinese Companies to Set up Steel Manufacturing and PVC Plants

A LOCAL company, Tradecode Investments says it is close to securing a $20 mln investment from two separate investors for the construction of a steel manufacturing plant as well as a factory to produce PVC ceilings in Chiredzi. The company’s managing director Venancio Kurauone said the investors from South Africa and China will each invest US$10 million in the two plants. “BW Exporters of South Africa is a worldwide.... Read more »

Posted on : Friday , 13th November 2015

Zimbabwe: Indian Billionaire to Invest U.S.$30 Million

Indian billionaire Ravi Jaipuria is set to invest US$30 million in a Pepsi bottling plant in the country, promoters of the project said. Entrepreneur Adam Molai, who is the promoter of the project, told businessdigest this week that Varun Beverages, Ravi's bottling business, would invest US$30 million in the first phase of the project. Molai said the US$30 million would go into the installation of a pet, canning and bottling.... Read more »

Posted on : Friday , 13th November 2015

Unmatched business opportunities only at iMT Taiwan

The industry-awaited inaugural staging of International Metal Technology Taiwan (iMT Taiwan) has garnered curious spotlight from market watchers and all-involved in the global metallurgy sector eager to see the latest innovations and technologies at the trade exhibition. Organized by Kaigo Co., Ltd. with the support of Messe Düsseldorf GmbH, iMT Taiwan will be held from 2 to 4 December 2015 at the Kaohsiung Exhibition Centre, Taiwan. .... Read more »

Posted on : Wednesday , 11th November 2015