Market News| Africa Business News

Mercedes Benz latest to capitalise on African auto policy

Mercedes Benz is gearing up to begin the assembly of mini buses and ambulances in Nigeria, in an attempt to draw benefits from the country’s automotive policy mercminibus CanadianPacific flickrAccording to Uwatse, Nigeria needs mini buses and ambulances. The company’s managing director in Nigeria Benson Uwatse said the country could benefit greatly from the current automotive policy, and that it required ambulances as.... Read more »

Posted on : Thursday , 10th December 2015

Standard Gauge Railway construction project in Kenya to be extended

China has pledged to boost the extension of the Standard Gauge Railway construction project in Kenya from the capital Nairobi to the Rift Valley. Kenya will receive a $1.5 billion loan from China Statehouse Spokesman Manoah Esipisu confirmed the news and said that Kenya will finance 15% towards the project while the rest will be from China Eximbank. “Kenya and China signed a financing package for the extension of.... Read more »

Posted on : Tuesday , 8th December 2015

AVM Africa to Assemble and Manufacture Tractors in 2016

ZIMBABWEAN coach assembler AVM Africa says it will venture into assembling and manufacturing tractors in 2016 starting with 400 units. CEO Musanhi said this followed a partnership with a local company owned by the Zimbabwe National Liberation War Veterans' Association (ZNLWVA), which is set to sign a billion-dollar agreement with a Chinese firm to set up a plant in Zimbabwe. Musanhi said the 400 units will be the first of more to.... Read more »

Posted on : Friday , 4th December 2015

Nigeria: Bajaj Introduces New Tricycle Into Market

Lagos — Tricycle manufacturing company, Bajaj Auto Ltd and its partner, DAG Motorcycles has launched a new model to be known as Bajaj RE 'Keke,' which will deliver superior performance to customers. "The new Bajaj RE is a model that is extensively tested and engineered to deliver superior performance and durability. It has an engine which is optimised to deliver superior power and torque, superior engine cooling and very low.... Read more »

Posted on : Tuesday , 1st December 2015

Kia Rio Wins Nigeria's Car of the Year Award

Lagos — The Kia Rio beat some very steep competition to earn the prestigious 2015 Car of the Year accolade, receiving the highest number of votes from motoring journalists across the country. The Kia Rio conquered some high-performance challengers to take the victory amongst all nominated vehicles at the annual Nigerian Automobile Journalists Association (NAJA) awards. The Kia Rio was adjudged to have ticked all the boxes in terms.... Read more »

Posted on : Tuesday , 1st December 2015

East African Ports taken into consideration to increase Imports & Exports

As part of a new national strategy, Ethiopia will begin using ports in Kenya, Somaliland and Sudan in order to increase trade volume. This strategy will decrease Ethiopia’s current policy of relying solely on the Port of Djibouti. In a move supported by the United Nations Development Programme (UNDP), Ethiopia will begin using Mombasa Port in Kenya, Berbera Port in Somaliland, and Port Sudan in Sudan. In addition, Ethiopia will.... Read more »

Posted on : Tuesday , 24th November 2015

Cargo airport in Africa to be constructed

A US$100.51m cargo airport in Nigeria will be constructed in Nasarawa State, governor Tanko Al-makura, has said. The governor was speaking during the signing of the financial contract agreement between the state government and Tongyi Group Engineering, a Chinese firm tasked with the construction with their representative HYPAD . The agreement stated that the Chinese firm will be responsible for the project’s finance..... Read more »

Posted on : Tuesday , 24th November 2015

French Transport Company Alstom signs US$204mn railway contract with Africa

French transport solutions provider Alstom has signed two contracts with Egypt's National Authority for Tunnels (NAT) to supply signalling and telecommunications systems and develop infrastructure for the third phase of Cairo Metro Line 3 alstom egypt cairometroOfficials from NAT and Alstom sign contracts for the Cairo Metro. The two contracts are valued at around US$204mn, said Alstom. Alstom senior vice-president for Middle East.... Read more »

Posted on : Monday , 23rd November 2015

Ford to introduce 30 new vehicles for the Africa markets

Ford Motor Company is planning to introduce 30 new vehicles in the Middle East and Africa by 2020 as part of its regional expansion strategy CBYCarImagesThe Middle East and Africa is a diverse region for Ford vehicles. The company revealed that eight vehicles will first be released, all of which will be showcased at the Dubai International Motor Show. The models include the Ford GT super sports car, the Shelby GT350 Mustang, Ford.... Read more »

Posted on : Monday , 23rd November 2015

Isuzu to roll out light trucks in Africa by Q2 2016

Isuzu’s Nigerian dealer Koncept Autocentre Limited has stated that it will commence the assembly of Isuzu vehicles from Q2 2016 Isuzu has finalised the vehicles that will be produced at the Nigeria plant. Koncept Autocentre director Victor Eborajolo said that the new assembly plant, which is located at the firm’s premises in Lagos, is undergoing rapid development and currently in the final stages of completing assembly.... Read more »

Posted on : Saturday , 21st November 2015

East Africa to Open 27 Automotive Industrial Zones

The Bishoftu Automotive Industry announced that it is planning to build new 27 automotive engineering zones throughout the country in the coming years. Bishoftu Automotive Industry General Manager Gebremedhin Zeselassie said that apart from its ongoing activities, the industry is planning to open 27 automotive engineering zones that will be assembling and manufacturing motorcycles, bicycle, light and heavy trucks and other.... Read more »

Posted on : Saturday , 21st November 2015

Tanzania: New Locomotives for TAZARA

Dar es Salaam — The Tanzania-Zambia Railway Authority (TAZARA) has received four new diesel-electric mainline locomotives and 18 passenger coaches valued at $22.4 million. "We remain eternally grateful to the government and the people of China for their constant and positive association with TAZARA, which they helped build some forty years ago and have continued to prop up unreservedly throughout the years," Eng. Ronald.... Read more »

Posted on : Wednesday , 18th November 2015