Market News Page No. 426| Africa Business News | Afrotrade

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NHC launches sale of new Mtwara houses

Officials of the state-owned real estate developer say the project is part of the NHC ten-year strategic plan spanning 2015 and 2025. Speaking at the launching ceremony in Dar es Salaam, the NHC's Acting Director of Sales and Marketing, Mr Tuntufye Mwambusi, said the Bank of Tanzania (BoT) has already booked 10 of the 30 residential houses. "The Shangani residential apartments are located on the outskirts of Mtwara town which is.... Read more »

Posted on : Thursday , 24th September 2015

Envoy touts Turkish investment

Ambassador Eralp said that working with stakeholders in the tourism sector was among her top priorities and insisted that she would work hard to ensure the sector grows and attracts a good number of visitors from Turkey. She also offered TANAPA an opportunity to advertise with Turkish Airline Magazine, Skyline Magazine and said the move would assist the national parks authority to attract tourists from over 60 destinations worldwide.... Read more »

Posted on : Thursday , 24th September 2015

Tanzania: Zanzibar Free to Develop Its Oil, Gas Industry, Says Minister

The Minister for Natural Resources, Mr Ramadhan Abdalla Shaaban, has said that Zanzibar is free to develop its oil and gas industry after the Union Parliament endorsed 'Petroleum Act 2015' last year. "I am the Minister responsible for oil and gas. If one wants to get proper information then it's from me..." Mr Shaaban said in Pemba Island, while responding to claims that Zanzibar has no legal powers to utilise its natural resources,.... Read more »

Posted on : Thursday , 24th September 2015

Dar, Oslo vow to enhance economic, trade relations

The Norwegian Minister for Industry and Trade Ms Monica Mæland said at the launching of Yara Fertiliser Terminal in Dar es Salaam on Wednesday that Tanzania’s commitment to agricultural sector development has been impressive making it attractive to global investors due to its huge potentiality. “I hope Yara will continue to contribute significantly to agriculture growth and Tanzania remaining committed to creating.... Read more »

Posted on : Thursday , 24th September 2015

Mwadui mine life extended 20 years

The mine, partly owned by Petra Diamonds of South Africa, development plan is expected to deliver 350,000 carats per annum (ctpa) from a grade of approximately 7.0 carats per hundred tonnes (cpht). A statement recently, shows that Petra’s current mine plan for Williamson, in Mwadui in Shinyanga, has a life extending to 2033. “ÉBut given that the Mwadui kimberlite hosts a major resource of 33.1 million of carats.... Read more »

Posted on : Thursday , 24th September 2015

Telecom firm supports Mbeya bee-keepers

The telecom firm through its Airtel Fursa programme, gave the group 20 bee-hives, one honey extractor, two bee protection suits and 600 bottles. Airtel Corporate Social Responsibility Manager, Ms Hawa Bayumi, said at a handing over ceremony in Mbeya over the weekend that , “modern equipment being given will assist them to improve the quality of their operations and output.” She also added that, the initiative to.... Read more »

Posted on : Thursday , 24th September 2015

Kenya: Lake Turkana Power Farm to Produce 90 Megawatts Next Year

Kenya will get the first 90 megawatts from Lake Turkana Wind Power project in 2016 when the first production will be loaded onto the national grid. The biggest wind farm in sub Saharan Africa will run into full capacity in April 2017 transmitting a total of 310 megawatts to the national grid through a 428km overhead line that is being constructed by the Kenya Electrical Transmission Company. The Sh70 billion project located in Loyangalani.... Read more »

Posted on : Thursday , 24th September 2015

Agricultural sector set up for speedy transformation

The Yara fertilizer Terminal that was launched by President Jakaya Kikwete, last week, has the capacity to hold 120,000 tonnes annually, enough to supply the local market and the rest of East Africa. The installed capacity of the Minjingu fertilizer factory is about 50,000 tonnes, thus Yara’s introduction. It is bringing new impetus into the farming methods that need fertilizer to transform the agricultural sector. The.... Read more »

Posted on : Thursday , 24th September 2015

Kenya: Solar Power Provider Connects 250,000 Homes to Its Network

A local pay-as-you-go off grid energy provider has announced connecting 250,000 homes across Kenya, Uganda and Tanzania. M-Kopa Solar, which provides a payment plan for supply of a solar lighting system, a radio and phone charging apparatus, said the achievement is in line with its target of connecting a million customers to its solar power systems by 2018. The firm's managing director and co-founder, Mr Jesse Moore, said the growth in.... Read more »

Posted on : Thursday , 24th September 2015

Heston to set up in Tanzania

Heston, a British oil services company is setting up shop in Tanzania and use the country as a hub to tap into the growing hydrocarbons sector in the Eastern African region. writes JOSEPH BURITE Speaking to the East African Business Week at an oil and gas exhibition in Dar es Salaam recently. David Edwards, the regional operations manager for Middle East and Africa said the company will apply a model that helped it achieve.... Read more »

Posted on : Thursday , 24th September 2015

Rwanda waits for methane power unit

KIGALI, Rwanda - Rwandans will soon benefit from a project that generate electricity from heating methane gas on a floating platform. The project is being done in two phases and contracted to KivuWatt, a subsidiary of ContourGlobal. Recently the company announced in the local media that completion of the first phase will be done by October. CountourGlobal signed a 25-year Gas Concession Agreement with the government and a 25-year Power.... Read more »

Posted on : Thursday , 24th September 2015

AfDB approves US$121mn grant to improve East Africa's electricity access

The African Development Bank (AfDB) has approved a US$121mn loan and grant to assist the government in improving electricity access for businesses and in rural households. powerlinenigeria pixabayOnly 14 per cent of Uganda has proper access to power, and AfDB hopes to increase that percentage through its project. According to AfDB, the move is expected to enhance economic growth in several parts of rural Uganda. The grant, which is.... Read more »

Posted on : Thursday , 24th September 2015

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