AFRICA POISED TO BECOME A GLOBAL INNOVATION HUB

 The founder of global telecommunications Econet Wireless group Strive Masiyiwa said Africa was set to become a global innovation hub. Masiyiwa made the remarks in an exclusive interview with CNBC Africa.com. “Africa will become the global innovation hub in the next 25 years partly because in about 25 to 50 years’ time half of the world’s population will be Africans with most expected to be young ,” he said. Over the past few years great innovations.... Read more »

Posted on : Thursday , 4th December 2014

AMERICAN COMPANIES MOVE INTO KENYA'S INVESTMENT SPACE

 Over 90 American companies are exploring business opportunities in the East African country despite the recent spate in terror attacks where over 60 Kenyans have been killed in what has largely been blamed on security lapses in a span of 10 days in the Northern part of the county. Led by a US organisation, the Corporate Council on Africa (CCA) devoted to US-Africa business relations which represent nearly 85 per cent of total US private sector investments in Africa, the.... Read more »

Posted on : Thursday , 4th December 2014

Investment builds on ‘vast market opportunities in East Africa

 will be made through Resolution Insurance’s (Resolution) holding company, Resolution Health East Africa, which has operations in Kenya and Tanzania and a partnership with IAA-Resolution in Uganda. LeapFrog partner Dominic Liber said: “East Africa is home to a 150 million strong population with insurance penetration rates below 4%, creating a vast opportunity to deliver financial inclusion at scale.” LeapFrog said the deal marks its second investment from its.... Read more »

Posted on : Thursday , 4th December 2014

Tanzania's LNG Plant Could Take Seven Years to be Ready

 Tanzania’s proposed LNG project could take about seven years to complete, an official from Statoil was quoted as saying last week.   According to Statoil’s Tanzania operations manager if all goes as planned, the plant will commence operations between 2022 or 2023, reported Tanzania Daily News on Saturday.   "We estimate the project will take seven years upon its completion. We have to make soil studies to determine the stability of the site which.... Read more »

Posted on : Thursday , 4th December 2014

Explore the vast emerging industrial investment opportunities of East Africa

The 17th edition of INDUSMACH 2015 is taking place from 7th-9th May 2015 at KICC,Nairobi Kenya and 23rd-25th May 2015 at MCC, Dar-Es-Salaam, Tanzania.  Exhibitors from over 20 countries participating at Kenya's Biggest International Trade Exhibition. Africa’s largest Industrial International Trade fair  INDUSMACH plays a significant role as a key trading event and as a source of inspiration for future technology trends. The show is a dedicated platform to network,.... Read more »

Posted on : Wednesday , 3rd December 2014

Exporters targeting the hub of East Africa at Prime building events

AFRICA’S MOST DYNAMIC BUILDING & CONSTRUCTION EXHIBITIONS The 18th Edition of BUILDEXPO is all set to bring to you the latest products, equipment and machinery to the East African market. BUILDEXPO is Africa’s premier and most trusted Building & Construction trade show. The 18th BUILDEXPO AFRICA 2015 will provide a platform for highly evolved global manufacturers & exporters from all over the world to enter into the market of the millennium, East Africa..... Read more »

Posted on : Wednesday , 3rd December 2014

China Firm Shows Interest in Tanzania Industry

 THE Aviation Industry Corporation of China (AVIC) has expressed its intention to cooperation with Air Tanzania Company Limited (ATCL) and restore the firm's lost glory. In May, this year, China's Prime Minister Li Keqiang, when delivering a speech at the African Union headquarter, said his government was keen to implement China-Africa regional aviation cooperation programme. He said the Beijing government would support Chinese enterprises to establish joint venture with.... Read more »

Posted on : Wednesday , 3rd December 2014

Feasibility study for Kenya-Uganda oil pipeline to take 5 months

 The Principal Secretary to the Energy and Petroleum Ministry Joseph Njoroge has said that feasibility study for the Kenya – Uganda oil pipeline will be expected by mid-April next year. The contract will be undertaken by Toyota Tsusho, a Japanese carmaker, which won the tender last month.   The pipeline will run from Lamu-Kenya to Hoima-Uganda, passing through the Lokichar basin. The company is also expected to come up with the design for the crude oil pipeline that.... Read more »

Posted on : Wednesday , 3rd December 2014

East Africa: EAC Endorses Investment Blueprint

 A proposed 10-year investment strategy for priority infrastructure projects in the East Africa Community to tackle the existing gaps received backing during the just-concluded EAC Heads of State Retreat on infrastructure development and financing. The summit, convened over the weekend in Nairobi, Kenya, endorsed the blueprint and directed the Council (of Ministers) to mobilise resources for implementation. Held under the theme, "Supporting the implementation of the Common.... Read more »

Posted on : Wednesday , 3rd December 2014

Africa Set On Boosting Investments With China

 President Jacob Zuma has arrived in China where he is leading a delegation of ministers and businesspeople on a State visit aimed at strengthening bilateral relations, the Presidency said on Tuesday. The two-day visit, scheduled for Thursday and Friday, signals a further consolidation of South African-Sino relations. This is President Zuma's second State visit to China. In 2010, he took 17 Ministers and about 300 businesspeople and signed the Beijing Declaration on a.... Read more »

Posted on : Wednesday , 3rd December 2014

Schlumberger reduces seismic fleet as deepwater exploration spending falls

 The world’s largest oilfield services company Schlumberger has announced it will be reducing its WesternGeco fleet as lower commodity prices lead to short-term cost cutting measures by exploration companies.   According to the company’s President of operations and integration Patrick Schorn Schlumberger will be restructuring WesternGeco marine seismic fleet by retiring older vessels with low towing capacity and high operating costs.   At the same time.... Read more »

Posted on : Wednesday , 3rd December 2014

Atlas Development secures first contract in Mozambique

African focused support services and Logistics Company Atlas Development & Support Services Limited has announced that, in line with its expansion strategy for East Africa, it has been awarded its first support services contract in Mozambique.   The agreement, with an international oil company, underlines Atlas Development’s increasing penetration into the oil & gas support services market and its growing reputation with international blue-chip.... Read more »

Posted on : Wednesday , 3rd December 2014