March 3 2019
Turkish fast moving consumer goods gıant Hayat Kimya has injected Sh600 million in the launch of its Kenyan operations in a move that has seen the firm formally unveil one of its flagship products Molfix Diapers.
The move marks the firm’s official entry into the East African region, having previously ventured into 15 other markets across the continent, including Nigeria, Cameroon, Algeria, Egypt and Morocco.
The company, which used agents to sell locally, has chosen Kenya as the regional hub.
“Kenya is a developing country, carrying a lot of potential, with her growing, young population, with her strategic location for Central and East of Africa. Hayat would like to be part of this rapidly modernising and developing country. So, we offer our quality and innovation, we offer our brand investment with Molfix, we offer our sincerity to you,” said Hayat Kimya CEO Avni Kigili.
World’s fifth largest
Hayat Kimya has 14 global brands in the diapers, hygienic pads, detergents and cleansing tissue categories.
It employs 8,000 people and has operations in countries across Middle East, Asia and Africa.
The firm will battle out for a slice of the local market dominated by Chinese diaper brand Softcare, Proctor & Gamble’s Pampers and New York-listed firm Kimberly-Clark, the manufacturers of Huggies diapers.
Hayat Kimya is ranked the world’s fifth largest branded baby diaper manufacturer and the largest tissue manufacturer in the Middle East, Eastern Europe and Africa by capacity.
The Turkish giant estimates that Kenya’s annual diaper consumption is nearly 750 million.
March 7 2019
The government of Rwanda has signed an US $400m agreement with Gasmeth Energy Limited in the construction and maintenance of a gas extraction plant, processing and compression project in Lake Kivu.
The firm signed the agreement to the effect with the government through Rwanda Mines, Petroleum and Gas Board (RMB) and Rwanda Development Board (RDB)
. RDB Chief Executive Officer, Clare Akamanzi said the move is a positive step forward towards implementing environmental friendly fuels to reduce over dependence on charcoal and wood as the main cooking fuel in the country.
“Lake Kivu contains dissolved carbon dioxide and methane gases which poses a great risk to plants and animals dependent on oxygen at the lake. However Methane gas is an energy resource which is valued at billions for Lake Kivu region”, said Clare Akamanzi.
Lake Kivu gas extraction plant
Methane at the lake is estimated to generate 700 MW of electricity for the next 55 years. Gasmeth Energy is the latest private investor with already two other investors Contour Global
and Symbion Power
extracting methane gas from Lake Kivu. Contour Global’s produces 26.4 MW currently with plans underway to increase production to 100 MW in the second phase of the project.
Akamanzi added that from this development hundreds will be employed, gas exports would increase, reduction in gas import bill and provision of cleaner cooking fuel for citizens would mean a cleaner environment too. Already efforts have been made to attract more private investors to take on energy production activities and also provide alternative energy resources.
Symbion Power which is a US Based energy development company on the hand separately owns Kibuye Power (KP1) and Lake Kivu 56 projects. The project which is estimated to employ 600-800 people during construction and another 400 after completion.
March 11 2019
The government of Egypt is set to construct over 40,000 housing units in the new administrative capital by the end of June 2020.
Minister of Housing, Utilities and Urban Communities, Essam al-Gazzar said that the project is being implement by the Ministry of Housing and is divided into eight neighborhoods, including villas, and mixed housing in the third district, Capital Residence.
The project include construction of 23,412 housing units, 952 villas and 2,050 mixed housing units in the third district, Capital Residence while the fifth district, the New Garden City with an area of about 1,000 acres will have 23,000 housing units consisting of residential apartments and villas, in addition to an area of residential towers with mixed use in the lower floors with about 2,000 housing units and two hotels.
Moreover, the Ministry of housing plans to complete the first phase of a water treatment plant, five international schools, a restaurant complex and a mosque, as well as the government district and the investment zone for the New Administrative Capital.
Largest park in the world
Essam al-Gazzar also added that the Ministry has scheduled to complete the implementation of the central gardens project at the “Capital Park” which is more than than 10 kilometers long and has an area of more than 1,000 acres, making it one of the largest parks around the world.
“The central park of the New Administrative Capital will provide greater opportunity for community interaction between the capital’s residents and other residents in its wider scope, and is park is expected to host more than two million visitors annually,” said Gazzar.
The park will also serve as a catalyst for encouraging a healthy life, in accordance with global rates including environmental value, green spaces, and areas for physical activities and recreation.
March 13 2019
MILAN -- Eni announces a major oil discovery in Block 15/06, in the Agogo exploration prospect, in Angola’s deep water. The new discovery is estimated to contain between 450 and 650 MMbbl of light oil in place with further upside.
The Agogo-1 NFW well, which has led to the discovery, is located approximately 180 km off the coast and about 20 km west from the N’Goma FPSO (West Hub). The well was drilled by the Poseidon drillship in a water depth of 1,636 m and reached a total depth of 4,450 m.
Agogo-1 NFW proved a single oil column of about 203 m with 120 m of net pay of high quality oil (31° API) contained in a sub salt diapirs setting in Lower Miocene sandstones with excellent petrophysical properties. The data acquired in Agogo-1 NFW indicate a production capacity of more than 20,000 barrels of oil per day.
Agogo is the third discovery of commercial nature since the Block 15/06 Consortium decided to launch a new exploration campaign in 2018, leading to the discoveries of Kalimba and Afoxé.
The discovery opens new opportunities for oil exploration below salt diapirs in the north-west part of the prolific Block 15/06, thus creating new chances for unlocking additional potential value. The mapping and the drilling of Agogo prospect has been possible through the use of Eni’s advanced and sophisticated proprietary seismic imaging technologies.
The Block 15/06 Joint Venture, composed by Eni (operator, with a 36.8421% stake), Sonangol P&P (36.8421%) and SSI Fifteen Limited (26.3158%), will work to appraise the discovery and start the studies to fast track its development.
Angola is a key Country in Eni’s organic growth strategy. The Company has been present in the Country since 1980 and currently accounts an equity production of about 155,000 boed. In Block 15/06 Eni operates two FPSOs (N’Goma in West Hub and Olombendo in East Hub) which are currently producing about 160.000 bopd (100%). Eni is also operator of the Cabinda Norte Block, located onshore Angola.
March 13 2019
French President Emmanuel Macron has pledged to invest 2.5 billion euros ($2.8 billion) in Africa by financing and supporting startups and small- to medium-sized enterprises by 2022.
Dubbed Choose Africa, the government would support about 10,000 enterprises across the continent by providing credit, technical support and equity financing, the French Development Agency said in an emailed statement. The funds will be mobilized via the AFD and its private-sector financing arm, Proparco.
Macron, who is on a three-day trip to Africa to boost trade with Ethiopia, Djibouti and Kenya, said 1 billion euros was earmarked for equity investment in startups and SMEs.
March 14 2019
NAIROBI (Reuters) - The World Bank and the African Development Bank will together commit more than $47 billion by 2025 to help African countries tackle the effects of climate change, the banks said on Thursday.
Many countries on the continent, especially those on the coast, are among the most vulnerable to the effects of climate change such as rising sea levels and coral reef deterioration.
Others are prone to more frequent droughts, desertification and floods.
The World Bank said in a statement it had pledged $22.5 billion for 2021-2025, while AfDB said it had committed $25 billion to climate finance between 2020 and 2025.
AfDB said the funds would be used to increase investment in renewable energy projects like solar power plants.
“The share of our portfolio that was in renewable energy generation between 2013 and 2015 was 59 percent but from 2015 to 2018 we moved from that to 95 percent,” AfDB president Akinwumi Adesina told Reuters on the sidelines of a U.N. environment meeting.
The World Bank said some of the beneficiaries of its funding would include projects in Ethiopia, Rwanda and Kenya.
March 16 2019
Dubai port operator commissions the first mobile harbour cranes to double productivity.
DP World Berbera has announced it has invested $12 million to improve operations at the Port of Berbera in Somaliland.
The Dubai-based port operator said it has commissioned the first mobile harbour cranes (MHCs) so the port will be able to offer shoreside crane support, substantially improving vessel operations.
The investment on the three new cranes will double productivity at the port, significantly reducing vessel turn-around time and stabilising operations during monsoon season, DP World said in a statement.
Suhail Al Banna, CEO and managing director of DP World Middle East and Africa, said: “The three mobile harbour cranes currently being commissioned are strategically important for the development of the Port of Berbera.
"They will enable more ships to be served at and ultimately increase the flow of trade to both the country and the region. As construction work for the expansion of the port progresses, we are witnessing a transformation in the capacity of this major infrastructure asset, benefiting people both here and across the Horn of Africa.”
The investment in the new cranes is the latest in a series of improvements to the Port of Berbera. Since 2017 DP World Berbera has introduced container handling equipment, vehicles and systems as part of its push to modernise the historic port.
March 19 2019
French companies will build a new railway in Kenya and operate a motorway there following a visit by President Emmanuel Macron aimed at boosting France’s exports to East Africa. Construction giant Vinci will be involved in the motorway concession.
Macron and Kenya’s President Uhuru Kenyatta witnessed the signing of contracts worth more than €2bn during the visit, the first by a French president since Kenya’s independence from Britain in 1963.
In a move that will be seen as a challenge to China’s dominance in the provision of infrastructure in the region, Macron said France wants commercial relationships that are “much more fair and profitable for the Kenyan people”, reports French news agency RFI.
Macron added French investment would respect Kenya’s sovereignty and would be “sustainable”.
Contracts between unnamed French companies and Kenya include building a railway from Nairobi to Jomo Kenyatta International Airport, a trip of about 20 km that can take up to two hours by car, said RFI.
It should be operational by 2021, and would “will help completely transform the lives of millions of urban workers”, said President Kenyatta during the visit on Wednesday, 13 March.
A consortium led by Vinci also secured a 30-year concession worth €1.6bn to improve and operate a highway between Nairobi and Mau, now a clogged and dangerous stretch of road relied upon by freighters.
Another consortium led by Airbus won a €200m contract for coastal and maritime surveillance, and renewables firm Voltalia sealed a €70m euro contract for two solar power plants. http://www.globalconstructionreview.com/news/new-kenya-railway-france-2bn-infrastructure-diplom/
March 20 2019
Officials from Suzuki Motor Corporation, Toyota Tsusho Corporation, and CFAO have announced a joint venture to manufacture and distribute vehicles in Ghana.
At a courtesy call on President Akufo-Addo, on Tuesday, March 19, 2019, at the Jubilee House in Accra, Mr. Koyote Suzuki, General Manager for the Middle East and Africa of Suzuki Motor Corporation, told President Akufo-Addo that with the company producing some 1.8 million vehicles in India alone, “my mission is to find our next India in the continent of Africa.”
He stated that “our next phase of growth will come from Africa, but we need to find the right partner in Africa for manufacturing and distribution after sale of our vehicles.”
Suzuki, he said, has partnered with Toyota in Africa, and are currently working in some 26 countries.
“We came to know from Toyota that the Ghanaian government is planning to roll out a new automotive policy. We heard this from Toyota executives who paid a visit here last month. We are highly interested in participating in this initiative by the Ghanaian government. We wish to start production here, grow it and expand it,” the Suzuki General Manager added.
Mr. Masafumi Yamashita, from Toyota Tsusho Corporation, in his remarks, noted that Toyota Corporation and CFAO have the largest automotive distribution network in Africa, and have the ambition to contribute to and support further development in African countries.
“Our vision is with Africa and for Africa. This time, we commit to work together with Suzuki Motor Corporation for the future development of the automotive industry here in Africa, as a strategic partner,” he added.
On his part, President Akufo-Addo told the gathering that “these three companies that have come together to push an idea, here in Ghana, is an idea that we have to welcome.”
His government, he explained, is interested in developing a vibrant and dynamic automobile industry in Ghana, and has made several initiatives towards that end.
“Finally, I believe we are now ready to outdoor our automotive policy which will enable people like you know what is available to you in terms of government support, and also the obligations that will be upon you, if you enter the Ghanaian space,” the President added.
With the economy projected to grow by 7.9 per cent this year, and the country recognized as one of the most stable countries on the continent, where the rule of law works, President Akufo-Addo stressed that “this is architecture designed expressly to try and attract investments into our country.”
President Akufo-Addo told the delegation that “you are very welcome, and it will be very good news for the people of Ghana if they were to hear that Suzuki has teamed up with Toyota Tsusho and CFAO to establish a facility here in Ghana.”
With Suzuki manufacturing 1.6 litre engine vehicles in India, the President stated that “these are exactly the kind of cars that should have very successful entry into the Ghanaian market.”