German’s industrial machine exports to Africa hit 580m euro
German exported industrial machines worth 580 million euro to Africa in 2013, representing 7.5 per cent of the country’s total export, Mr Richards Clemens, Managing Director, Packaging Machinery Association of Germany told journalists in Lagos on Monday.He said there was an increase in the global demand for German technology, adding that Nigeria was top on the list of countries making such demands.
Nigeria To Construct Africa’s First Gas Industrial Park
In furtherance of its commitment to boosting gas processing in the country, Nigeria is set to construct the first and largest gas industrial park in Africa, Petroleum Resources Minister, Diezani Allison-Madueke Monday disclosed.
According to the minister, the West African country plans to build the first and largest gas industrial park in Africa.
Allison-Madueke made this known in Abuja, the capital of Africa’s largest economy, at the opening of a three-day Gas Resources Conference and Exhibition organized by Nigeria’s Senate Committee on Gas.
AfDB institutes $100bn for industrial development
African Development Bank has instituted a 100 billion dollars infrastructure fund to fast track the continent’s industrial development.
 Dr Ousmane Dore, Nigeria Country Director of AfDB, disclosed this to the News Agency of Nigeria on Wednesday in Abuja.
He said that the fund, called “Africa50 Fund”, would be derived from Africa’s resources.
Dore said the idea of the fund was to mobilise domestic savings that already existed in the continent through equity participation from member states and the private sector.
Africa’s economic boom
Africa remains a sweet investment destination due to its resilience to internal and external shocks that have hampered economic growth globally.
This was according to the latest African Economic Outlook report, produced by the African Development Bank, the OECD and the United Nations Development Programme, released yesterday.
Africa’s economy is expected to grow to 4,8% this year and further accelerate to around 6% in 2015.
