Market News Page No. 470| Africa Business News

East Africa: Demand for Cement in EA Remains Strong

DEMAND for cement in the East African Region is anticipated to remain strong in the medium term, supported by the resurgence in infrastructure and housing sectors. Also, apart from the associated energy costs and the availability of cheap imports from some Asian countries, demand for cement in East Africa has continued to rise. The growing demand for cement is expected to boost investments in new cement production in line with the.... Read more »

Posted on : Tuesday , 30th June 2015

Africa: Cement newcomer Sephaku looking to expand trade market after stellar performance

A “stellar” performance by cementation newcomer Sephaku Holdings’ Métier Mixed Concrete division has swung the group to a full-year net profit of R47.16-million for the 12 months ended March 31, positioning it to expand its market share in what has become a highly competitive domestic cementation market. The group achieved full-year revenue of R775.4-million and earnings before interest, taxes, depreciation and.... Read more »

Posted on : Tuesday , 30th June 2015

Tanzanian mine receives �strong interest� from developers

Australian explorer IMX Resources has received “strong interest” from several ore developers in its Ntaka Hill Nickel Project located in southeast Tanzania. nickelmine-Marshman-WCThe Ntaka Hill Nickel Project hosts a measured and indicated resource of 20.3Mt at 0.58 per cent nickel and 0.13 per cent copper for 117,880 tonnes of contained nickel. The Ntaka Hill Nickel Project, in the Nachingwea Property, has been receiving.... Read more »

Posted on : Tuesday , 30th June 2015

AFRICA ENERGY WITHDRAWS FROM PUNTLAND, SOMALIA BLOCKS

Africa Energy formerly Horn Petroleum Corp has announced that it has provided notice to the Puntland State of Somalia advising of its intention to withdraw from the January 2007 productions sharing agreements in respect of the Nugaal Block and the Dharoor Block, each made among the Company, the Government of Puntland and Range Resources, effective immediately. In its notice to the Puntland Petroleum and Minerals Agency, the.... Read more »

Posted on : Tuesday , 30th June 2015

Anadarko negotiating LNG supply deal with Jera from $23bn Mozambique project

American oil and gas firm Anadarko Petroleum is in talks with Japan-based Jera for long-term supply of liquefied natural gas (LNG) from its Mozambique export scheme. Jera, a joint venture set up by Tepco and Chubu Electric Power in April, aims to turn into the cheapest LNG buyer across East Asia. Anadarko's recent finds in Area 1 of Rovuma Basin in the African country will feed the initial ten million tonnes per annum (mtpa) LNG export.... Read more »

Posted on : Monday , 29th June 2015

Wentworth Resources Raises $7.6 Million To Finance Tanzania�s Mnazi Bay Developments

Wentworth Resources has announced that it has successfully raised gross proceeds of USD 7.6 million (GBP 4.9 million, NOK 59.7 million) with institutional investors and certain Directors and members of the Executive Management through a private placement of 15,412,269 new shares. The private placement saw no discount to market price with the new funds set to provide the Company with sufficient working capital beyond its projected.... Read more »

Posted on : Monday , 29th June 2015

British High Commission- Africa draw out a Mining partnership

The British High Commissioner James Thornton has commended the partnership between the government of Zambia and the British gemstone exploration and mining company Gemfields plc, citing it to be a “very good example” of a British company investing in Zambia emerald-BigBeadLittleBead-flickrGemfields and Kagem are keen to develop an international market for Zambian emeralds. The partnership entails the ownership of.... Read more »

Posted on : Monday , 29th June 2015

Volvo launches new Construction Equipment for Africa

Volvo Construction Equipment has announced the launch a new series of wheel loaders in Africa Volvo launches new wheel loader for Africa The G Series has Z-bar linkage and increased hydraulic pressure for powerful digging and complete bucket fill. The G Series, which consists of three machines – the L120GZ, L60GZ, and L90GZ – will be released in Africa, as well as the Middle East and Russia. Volvo said the range has.... Read more »

Posted on : Monday , 29th June 2015

Mr. Kunal Gupta of Athi River Steel, Kenya speaks at the opening of 18th Buildexpo Kenya 2015.

" We are extremely honoured to partner with Buildexpo and Expogroup, and to sponsor the event yet once again. " Buildexpo brings together all the stakeholders in the Building & Construction Industry. We are delighted to see several old and new faces at the exhibition. Specially appreciate the ones who travel long distances to attend the expo", he added. " The exhibition has been providing us over the years, the perfect.... Read more »

Posted on : Wednesday , 15th July 2015

Deloitte bags multi-billion Kenyan construction consultancy contract

Under the terms of the contract, the consulting firm would undertake a feasibility study, prepare tendering documents and advise on procurement of the project on behalf of the Kenya Urban Roads Authority (KURA). The second Nyali Bridge project is anticipated to connect Mombasa Island with the North mainland and ease congestion on the existing Nyali Bridge making traffic less dependent on a single channel.... Read more »

Posted on : Saturday , 27th June 2015

Ethiopia, Chinese Company Sign U.S.$119 Million Deal for Infrastucture development to Kenya

Ethiopia signed a 119 million dollar deal for power transmission lines to Kenya to export the extra power. "It is mandatory to export the energy that is leftover as we cannot keep it, because our existing electric transmission lines are working beyond their capacity and they cannot transmit the entire amount of energy we are producing," according to Azeb Asnake (Eng.), chief executive officer (CEO) of Ethiopia Electric.... Read more »

Posted on : Saturday , 27th June 2015

Oil and gas boom in East Africa countries promises riches

The East African region is emerging as one of the most prolific oil and gas exploration sites in the world. Analysts at Standard Bank say Kenya, Uganda, South Sudan, Ethiopia, Tanzania and Mozambique that have recently made discoveries, have the potential to fundamentally transform their economies through investments in road, rail, power and industrial infrastructure. “Over and above the traditional oil and gas regions in Africa, notably.... Read more »

Posted on : Saturday , 27th June 2015