Market News Page No. 455| Africa Business News

Zimbabwe: Mining Attracts Investors

The mining industry in Zimbabwe is currently the biggest target for international investors. Mines and Mining Development Deputy Minister Fred Moyo said the mining sector is the biggest drawcard to the country for foreign investors. "Mining is currently Zimbabwe's biggest target for international investors. Mineral exports account for over 50 percent of the country's foreign exports earnings," said Deputy Minister.... Read more »

Posted on : Friday , 14th August 2015

Indian Company to Start Marble Mining in Benshangul-Gumuz

An Indian company yesterday concluded agreement that enables it to mine marble in Benshangual-Gumuz State. Samaka Stones Private Limited Company has reportedly allocated close to 2.9 million USD to commence the production of 131,600 cubic meters of marble annually. During the signing ceremony, State Minister of Mines Dr. Alemu Sime said marble production would contribute to the booming construction industry, the earning of.... Read more »

Posted on : Friday , 14th August 2015

Rwanda: Burera District Constructs New Hotel to Boost Tourism

Burera District is constructing a new hotel in a bid to enhance tourism in the area. The Burera Beach Resort Hotel is situated in Kagogo Sector on the shores of Burera and Ruhondo lakes. The hotel is being constructed a Japanese firm, Noguchi Holdings LTD. The construction is projected to be completed by December at the tune of Rwf350 million, according to officials. Samuel Sembagare, the district mayor, said despite having a.... Read more »

Posted on : Friday , 14th August 2015

Exclusive railway bridge to be constructed over Nairobi National Park

Exclusive Railway bridges are to be constructed over Nairobi National Park. Kenya Wildlife Service (KWS) spokesman Paul Muya said that they intend to build the bridge that will have an entire length of up to nine kilometers. The construction of the exclusive railway bridge over Nairobi national park is a move that conservationists have welcomed as a positive step for Kenya. The railway line was intended to cut through the 117km2, from.... Read more »

Posted on : Thursday , 13th August 2015

US$300mn risk cover secured for construction of a geothermal power plant in Kenya

The consoritum that is working on construction of a geothermal power plant in Kenya has secured a has secured a risk cover from a German reinsurer, Munich Re worth US$ 300mn that will eventually pave way for the funding of the well drilling. The risk cover is meant to compensate investors in the Akiira One project in case the eight geothermal wells being drilled in the Olkaria do not produce enough power. Centum.... Read more »

Posted on : Thursday , 13th August 2015

The 225-MW wind farm in Ghana to be constructed in 2016

The 225-MW wind farm in Ghana is set to commence construction any time in 2016. The project is owned by Ireland based company Mainstream Renewable Power after it acquired the project from Swiss-based developer NEK Umwelttechnik last year. Mainstream’s Business Development Manager, Chris Matthews says that all environmental permits have been secured and the grid connection and power purchase agreements are being finalized. The.... Read more »

Posted on : Thursday , 13th August 2015

Constructed Ngong wind power plant is to be commissioned in Kenya

The constructed Ngong wind power plant is to be commissioned in Kenya by Kengen in a bid to boost the renewable sources contributions to the national grid. It is hoped that the move will help in meeting the vision of generating 5,000MW of power by 2018. The construction of the wind power farm was expanded as a way of scaling up energy sources as the country looks to green energy. Kengen CEO, Albert Mugo confirmed the reports and.... Read more »

Posted on : Wednesday , 12th August 2015

Global Witness Cautions On Four Shortlisted Firms In Uganda�s First Licensing Round

Transparency body Global Witness while lauding the first licensing round as an step forward for transparency in the country has cautioned on four shortlisted companies which it says have a questionable environmental and social track record. The four namely Nigeria’s Oranto Petroleum, Russian Africa Global Resources consortium where it questions two companies Telconet Capital Partnership Ltd and RT Global Resources as well as.... Read more »

Posted on : Wednesday , 12th August 2015

Tanzania Signs New Petroleum Bill To Boost Energy Sector

Tanzanian President Jakaya Kikwete has signed on 4th August, 2015, the Petroleum Act 2015 meant to boost the energy sector in the country by ruling it under one single and consolidated legislation The Tanzanian energy sector which was until now regulated by nine different documents between policies and acts, will now be ruled by one piece of legislation. The Petroleum Exploration and Production Act, and the Petroleum Act,.... Read more »

Posted on : Wednesday , 12th August 2015

Ethiopia wants to raise Mining Profile

The government wants to showcase the opportunities available in mining by hosting an international conference next month in Addis Ababa.This also comes when KEFI Minerals (KEFI), the gold exploration and development company with projects in Saudi Arabia and Ethiopia, announced final bidding has opened for the contracts for construction of the process plant and operation of its Tulu Kapi gold mine. Tulu Kapi Gold Mine is situated 28 kilometres.... Read more »

Posted on : Tuesday , 11th August 2015

Tanzania International Petroleum Reserves Increases Oil Storage Capacity By 50% With USD 11 Million Investment

The Tanzania International Petroleum Reserves Limited (TIPER), a 50/50 joint venture between Swiss Oryx Energies and the Tanzanian Government, has recently announced in a media statement the completion of two refurbished oil storage tanks which expand its current fuel storage capacity from 141,000 cubic metres to 213,000 cubic metres. The two tanks refurbished with a capacity of 36,000 cubic metres each, needed a total investment.... Read more »

Posted on : Tuesday , 11th August 2015

Highest Grade Graphite Discovery In Mahenge Region Of Tanzania

Black Rock Mining Limited (BKT), an Australian based company focused on the exploration and development of the Mahenge graphite project in Tanzania, recently announced on its website that it has discovered a new mineralized zone with highest grades graphite in the Mahenge region. The new zone named “Ulanzi prospect” is eight times larger than the Epanko North, the most recognized graphite deposit located in South.... Read more »

Posted on : Tuesday , 11th August 2015