According to the statement, this was one of the resolutions agreed on during a recent meeting between EAC ambassadors in the Russian Federation and representatives of the EEC that took place at the Kenyan Embassy in Moscow, Russia. Rwanda was represented by Amb Jeanne d’Arc Mujawamariya and first secretary, Francis Karagire. “The meeting was aimed at learning about the EEC integration process and development of the economic.... Read more »

Posted on : Wednesday , 31st December 2014

 Growth in Kenya, East Africa’s biggest economy, is expected to accelerate over the next three years as the government increases spending on roads, railways and power plants, the National Treasury said.   The economy may expand 6.1 percent in the fiscal year that ends on June 30, 2015, Geoffrey Mwau, economic affairs director at the Treasury, said today in a presentation in the capital, Nairobi. The rate is forecast to increase.... Read more »

Posted on : Tuesday , 30th December 2014

 This sector is mainly agro based at the moment and plays an important role in adding value to agricultural output by providing forward and backward linkages with agricultural sector. However, there is a shift to export oriented manufacturing as the main thrust of Kenya's industrial policy since the country aims to raise the share of products in the regional market from 7% to 15 %..... Read more »

Posted on : Tuesday , 30th December 2014

 Keroche Breweries has invested Sh4 billion to expand its Naivasha plant. Company chief executive Tabitha Karanja said the brewer will also be increasing its range of products. “Keroche is embracing advanced brewing technology to ensure Kenyans and the region get sufficient supply of high quality bear,” she said. Mrs Karanja spoke in Nakuru yesterday during a marketing tour. She said Keroche is putting up a modern.... Read more »

Posted on : Tuesday , 30th December 2014

 French cement maker Lafarge will combine its South Africa business with publicly traded Nigerian unit Lafarge Wapco, its country CEO said. Guillaume Roux said the deal, worth 1.35 billion dollars, will see the Lafarge group get 200 million dollars in cash and 1.4 billion new shares in Lafarge Wapco to effect the merger. The new company, Lafarge Africa Plc, will have a market capitalisation of more than three billion dollars and will be.... Read more »

Posted on : Monday , 29th December 2014

 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.... Read more »

Posted on : Monday , 29th December 2014

 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,.... Read more »

Posted on : Monday , 29th December 2014

 Investment Corp of Dubai has agreed to buy a 300 million dollar stake in Dangote Cement. The state fund, Investment Corp of Dubai (ICD), which holds stakes in some of the emirate's top firms, has agreed to buy the stake in top Nigerian cement producer, a spokesman for Dangote said on Monday. Carl Franklin, Dangote's head of investor relations, did not give further details. Dangote's current market capitalisation is about 23.7 billion US.... Read more »

Posted on : Monday , 29th December 2014

Africa’s Transnet and Chinese manufacturer CSR Zhuzhou Electric Locomotive (CSR) signed a Memorandum of Understanding (MoU). This was part of South African president Jacob Zuma’s state visit to assist trade between the two countries.   “Today’s MoU paves the way for Transnet to conclude agreements with CSR to set up manufacturing facilities in South Africa to exploit opportunities for the production and maintenance.... Read more »

Posted on : Saturday , 27th December 2014

 According to Ernst and Young 2014 Africa attractiveness survey, Kenya ranks third after Nigeria and South Africa as the most attractive in the region. The three are said to attract 40 per cent of the total foreign direct investments in the region. Fernando de Sousa General Manager Africa Initiatives at Microsoft join CNBC Africa to discuss why multinationals are attracted to these major hubs..... Read more »

Posted on : Saturday , 27th December 2014

 Money makes the world go round. And if you play your cards right, might just make your startup successful — putting a smile on shareholders faces. In 2014, we saw a lot of money being moved around in South Africa’s startup scene. So much so that we’ve decided to round up some of the investment rounds that really stood out to Ventureburn. From real estate, crowdsourced designs to a multi-million financial aid startup,.... Read more »

Posted on : Friday , 26th December 2014

 "Geopolitical and industrial relations between South Africa and the nuclear-vendor countries will play an important role," Des Muller, the head of Johannesburg-based building company Group Five's nuclear construction division, said in an emailed response to questions Dec. 17. "It does with all major infrastructure projects and more so on nuclear infrastructures where reliance on nuclear safety and construction knowhow is.... Read more »

Posted on : Friday , 26th December 2014