Despite weaker than expected global growth and stable or declining commodity prices, African economies continue to expand at a moderately rapid pace, with regional GDP growth projected to strengthen to 5.2 percent yearly in 2015-16 from 4.6 percent in 2014, according to a recent World Bank report. Significant public investment in infrastructure, increased agricultural production and expanding services in African retail, telecoms,.... Read more »

Posted on : Thursday , 9th October 2014

 Kenya ranks among the leading Foreign Direct Investment (FDI) destinations in Africa, the United Nations Conference on Trade and Development Secretary General Mukhisa Kituyi has said. Dr Kituyi said Nigeria and Ethiopia complete the list of the most attractive investments destinations for foreign capital on the continent. Launching the World Investment Report 2014 in Nairobi, Dr Kituyi lauded the increasing FDI movement among African.... Read more »

Posted on : Wednesday , 8th October 2014

 JOHANNESBURG (miningweekly.com) – The key to the development of South Africa lay in mineral beneficiation and industrialisation in joint development with its regional neighbours, South Africa’s new Finance Minister Nhlanhla Nenetold the Centre for Education In Economics and Finance (CEEF).  Resource-endowed countries that had failed to move up the value chain had registered short bursts of growth, but never the kind of.... Read more »

Posted on : Monday , 6th October 2014

 Despite South Africa having the largest and most sophisticated chemicals industry in Africa, estimated at $30-billion, it only contributes about 1% to the global market, says global growth consulting firm Frost & Sullivan chemicals, materials and food industry analyst Dilshaad Booley.  However, Booley notes that the South African chemicals industry is expected to have moderate growth of between 3% and 4% over the next five years,.... Read more »

Posted on : Monday , 6th October 2014

 The model of the economy envisioned by the National Development Vision will be led by modernised and highly productive agricultural activities which are effectively integrated and supported by industrial and service activities in the rural and urban areas. The Vision 2025 aims at achieving a high quality livelihood for Tanzanians people, attain good governance through the rule of law and develop a strong and competitive.... Read more »

Posted on : Monday , 29th September 2014

 Italy rarely, if ever, features on the list of countries with a big presence in the East African region. Not anymore. Italy’s Minister of Economy and Finance was in Kigali and spoke to The EastAfrican’s BERNA NAMATA on the renewed interest in the region. There is growing interest from Italy — we recently launched the Italy-African initiative to intensify ties and facilitate economic integration between the Italian.... Read more »

Posted on : Monday , 29th September 2014

 The rapid growth of East Africa's 150-million strong population has seen housing stocks come under pressure, prompting construction firms to embark on ambitious projects in a bid to close the deficit.    With GDP up by an average of 5% across the region in 2012, commercial and residential construction is pushing up sales of East Africa's steel products, which range from rebar and wire rod to cold rolled coil, galvanized sheet.... Read more »

Posted on : Monday , 29th September 2014

 Significantly, all of the tenements are located within 20 kilometres of the coast, are easily accessible by road, and accessible to port facilities. The acquisition will supplement Gunson’s construction ready Coburn Mineral Sands Project in Western Australia. Adding to the transformation changes, Gunson will gain former managing director of mineral sands behemoth Iluka Resources Mike Folwell as its new chairman to guide the.... Read more »

Posted on : Monday , 29th September 2014

 The Kamal Steel Limited plant, to produce reinforced bars, flat bars, angle bars, under the continuous casting machine technology, would be the biggest in terms of capacity in East Africa. Speaking at the launch of the plant’s expansion at Changombe in Dar es Salaam, Mr Pinda said that in order to reach the targets of Vision 2025, it was important that industries were developed since one of the important sectors of the economy was.... Read more »

Posted on : Saturday , 27th September 2014

 President Yoweri Museveni has commissioned the new Ushs320b Roofing’s Group mega steel factory in Namanve, Mukono district urging locals to learn from the work methods of Ugandans of Indian origin to fast track development.   Established in 1994 by Sikander Lalani, Roofings Group is now the largest steel factory in East and Central Africa and is worth an estimated US$280m (Ushs782b).   The latest Ushs320b expansion has.... Read more »

Posted on : Saturday , 27th September 2014

 The World Bank’s Board of Executive Directors today approved monetary support to the Government of Kenya effort to create new jobs and increase competitiveness in the light manufacturing sector through the development of industrial zones and enhancing linkages with the local economy.                                          .... Read more »

Posted on : Wednesday , 6th August 2014

 Steel plant processing technology, equipment and services specialist SMS Siemag, a division of SMS group, supplier of processing technology, equipment and services for the ferrous, ferroalloy and nonferrous metals industries, says there is potential to establish new steel plants in Africa in the next five years and hopes to capitalise on these developments. SMS Siemag South Africa MD Pieter Bezuidenhout believes that, through its office.... Read more »

Posted on : Thursday , 31st July 2014