Market News Page No. 514| Africa Business News | Afrotrade

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East Africa: Manufacturing Company to launch in forth coming months

Medtech Ceramics Manufacturing Plc (MCM), a ceramic and sanitary ware manufacturer, is expecting the delivery of two ceramic manufacturing machines in three months, for the factory which could begin operation in 10 months. MCM was established jointly by Medtech Ethiopia Plc and Sheikh Faisal bin Al Qasimi, chairman of Julphar Gulf Pharmaceutical Industries, and Star Group Holdings. The Company, established six months ago with a capital of.... Read more »

Posted on : Tuesday , 16th December 2014

Tanzania: Over 17 Billion Set Aside for new Investment Venture

SOME 10 million US dollars (17.22bn/-) has been closed in escrow and up to 3,642,857 common share purchase warrants for an institutional lender that will provide money to develop Buckreef gold mine project jointly owned by Tanzanian Royalty Exploration Corporation (TRX) and State Mining Corporation (Stamico). In a statement issued, TRX Chief Executive Officer, James Sinclair said the facility may be increased to 15 million US dollars.... Read more »

Posted on : Tuesday , 16th December 2014

CAMAC Energy to Acquire 3D Seismic Offshore Gambia

CAMAC Energy has announced that its wholly owned subsidiary, CAMAC Energy Gambia Ltd has awarded a contract for the acquisition of a 3D seismic survey to Polarcus Limited covering approximately 1,504 km2 in the Company’s A2 and A5 blocks offshore Gambia. CAMAC says that the objectives of the seismic survey are to enhance the definition and maturation of potential prospects in the blocks and provide high-quality sub-surface images.... Read more »

Posted on : Tuesday , 16th December 2014

More US firms now seeking to venture in Kenya s infrastructure and energy

A delegation of 10 US companies have last week met local investors in a bid to build investment networks in energy, infrastructure and agribusiness. The delegation of 15 representatives from the companies was led by Corporate Council for Africa, an American-based business lobby firm. The Corporate Council for Africa President Mr. Stephen Hayes was quoted as saying that Kenya is one of the ideal investment places because it is part of the Power.... Read more »

Posted on : Monday , 15th December 2014

Tanzania Attracts 400 Indian Pharmaceutical Firms

At least least 400 leading Indian pharmaceutical companies see Tanzania, which has a population of just under 45 million, as a highly promising market they ought to capture. Ashutosh Gupta, Vice Chairman of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), said here last week that India ranks fourth globally in terms of pharmaceutical production volumes and 13th globally in domestic consumption value and that more than.... Read more »

Posted on : Monday , 15th December 2014

Indian Industry to begin operations in Africa

CIL officials said that India would start receiving coal from the Mozambican mine within the next three to four years. “The final phase of exploration for CIL’s A1 and A2 mining blocks at Tete Province is complete. Coal sampling is in progress. A geological report and detailed project report will be prepared. We hope to start mining within next six months to a year,” added a senior official of CIL. If the plans of the.... Read more »

Posted on : Monday , 15th December 2014

Mombasa Industry opens US$25mn factory in Kenya

According to the company, the newly opened factory is part of the country's move to position itself and East Africa as a key investment hub in sub-Saharan Africa. Adan Mohamed, industrialisation and enterprise development cabinet secretary of Kenya, said, "From a global perspective, many industrialised nations have had the textile and apparel sectors as their pioneer sectors to achieve industrialization. Investments in the textiles.... Read more »

Posted on : Monday , 15th December 2014

SEIFSA Industrial development towards engineering and manufacturing

Adelia Pimentel, marketing and communications executive at SEIFSA, said, “It is of paramount importance that companies play a crucial role in socio-economic upliftment and are recognised for their contributions and encouraged to continuously do more.” Ten categories have been shortlisted for awards such as “Most Innovative Company of the Year” for the company that has shown the high creativity in research and.... Read more »

Posted on : Monday , 15th December 2014

East Africa: Four firms to invest into Industrialization

Keen on expanding its small electricity generation capacity to support an industrialisation drive, the east African country is currently pursuing several multi-billion-dollar projects, most of them in hydropower generation. Officials previously said the government was also looking for investors to develop solar energy and other renewable sources of power such as biomass, waste energy, geothermal and wind power. The state-run Electricity.... Read more »

Posted on : Monday , 15th December 2014

RWE Dea Doubled its Egyptian Oil, Gas Output

North Africa is one of our strategic core regions,” explained Maximilian Fellner, General Manager of RWE Dea Egypt. “In Egypt, Dea can look back upon three decades of oil production and we recently doubled our overall production in the country through getting our onshore gas project Disouq on stream. We are delighted about these success stories and will continue on this track, as we see further potential in the.... Read more »

Posted on : Monday , 15th December 2014

Madagascar Oil requests 2 year extension for Madagascar Exploration Blocks

Madagascar Oil has announced that following discussions held at the Executive Committee meeting regarding Blocks 3105, 3106 and 3107 on 9 December 2014, the Company’s wholly owned subsidiary, Madagascar Oil S.A., has written to the Office des Mines Nationales et des Industries Stratégiques (“OMNIS”) formally requesting a two year extension to the exploration period of each of the Exploration Blocks. The letters.... Read more »

Posted on : Monday , 15th December 2014

Taipan Resources awards drilling contracts for Badada-1 well in Kenya s Block 2B

Block operator in Block 2B Taipan Resources has announced that together with other joint-venture partners, have executed a contract with Greatwall for the GW-190 land rig and have also contracted Aberdeen-based Norwell Engineering to manage the drilling operations of the Badada-1 well. The GW-190 land rig recently completed the drilling of the Sala-1 discovery in Block-9 of Anza Basin, Kenya, adjacent to.... Read more »

Posted on : Friday , 12th December 2014

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