N e w s

S.African construction firms to pay $90 mln into sector's development fund

 Six South African construction companies will contribute a total of 1.25 billion rand ($90 million) over the next 12 years towards a fund to develop skills in the sector and give black workers a bigger role, a cabinet minister said on Tuesday.   Economic Development Minister Ebrahim Patel said the voluntary contribution would be in addition to a 1.4 billion rand penalty imposed by antitrust authorities on the sector in 2013 for.... Read more »

Posted on : Wednesday , 12th October 2016

Dangote to become oil and gas giant in Africa

 Dangote Group of Companies, renowned in the production and distribution of cement in the West African sub-region are now wading into the oil and gas sector and is envisaged to have the largest oil refinery company in Africa.   The $ 16 billion world class refinery/ Petrochemical complex comprise a refinery, petrochemical and fertilizer plants. This came to light when Mr Anthony Chiejina, Chief Corporate Communications Manager of.... Read more »

Posted on : Wednesday , 12th October 2016

Africa Mining Vision Plays a Critical Role in Region's Development Trajectory

 Accra — Participants of the Second Africa Oil Governance Summit unanimously recognized that the African Mining Vision could facilitate Africa's accelerated development through value linkages and regional integration.   The annual Summit is a gathering of key players of Africa's oil industry and it serves as platform to engage around the governance of the oil and gas resources to transition oil-producing countries onto an.... Read more »

Posted on : Wednesday , 12th October 2016

Tanzania: 84,000 Acres of Land for Young Entrepreneurs

 Simiyu — Seventy two district councils here have allocated 84,037 acres of land to young entrepreneurs to run businesses. This was revealed here on Sunday by Minister of State in the Prime Minister's Office (Policy, Parliamentary Affairs, Labour, Employment, Youth and the Disabled) Jenista Mhagama.   Speaking in Bariadi ahead of this year's National Youth Day, Ms Mhagama ordered other districts in the country to follow.... Read more »

Posted on : Wednesday , 12th October 2016

Tanzania: Minister Defends Medical Stores Department

 Dar es Salaam — Health Minister Ummy Mwalimu on Monday defended the monopoly of the Medical Stores Department (MSD).   The minister said the agency must remain the country's sole authority for procuring and supplying medical supplies, instead of creating "competing agencies" in the distribution chain.   She said a commissioned study saw no need for the government to allow an alternative supplier of drugs and.... Read more »

Posted on : Wednesday , 12th October 2016

New deal offers hope to cotton farmers

 Cotton farmers are set to benefit from a contract signed by revived textile firm, Rivatex East Africa and Meru Ginnery. Under the deal, Meru Ginnery will get its primary supply of seed cotton from Bura farmers. It will then process this seed cotton to derive cotton lint, which will be sold to Rivatex. The textile firm last year received Sh503 million from the Ministry of Industrialisation and Enterprise Development to buy new.... Read more »

Posted on : Wednesday , 12th October 2016

Dairy firm unveils plan to boost farmers’ earnings

 More than 30,000 small-scale farmers in Trans Nzoia and Bungoma counties will benefit from a multi-million-shilling agriculture sustainability project. Milk processor Brookside Dairy has partnered with Livelihoods Fund, a France-based investment solutions provider and Vi Agroforestry, a development organisation in the initiative. The project aims at boosting milk production in the Mt Elgon catchment from the current 5,000 to 135,000.... Read more »

Posted on : Wednesday , 12th October 2016

Kenya Power’s guidelines lures global brands

 The pragmatic decision we took in early 2010 to buy 80 per cent of all equipment and materials needed for electricity distribution locally is paying off.   It is good to note that a number of international companies dealing with manufacturing of meters, transformers, steel structures and prefabricated items have expressed interest in setting up local factories. Indeed, one manufacturer of meters has set up a plant. This is a clear.... Read more »

Posted on : Wednesday , 12th October 2016

Brookside, French firm partner in food security project

 About 30,000 farmers in Trans Nzoia and Bungoma counties will benefit from a multimillion-shillings agriculture project that seeks to transform the livelihoods of smallholders.   Brookside, the country's largest milk processor, has partnered with French firm, Livelihoods Fund and Vi Agroforestry, to boost food security in the Mt Elgon.   The project, involving 15 cooperatives and 1,200 farmers’ groups, aims to increase.... Read more »

Posted on : Wednesday , 12th October 2016

Tanzania: Tanesco Project to Benefit Kenya

 The Tanzania Electric Supply Company Limited (TANESCO) has signed a US $309.26 million dollars (about 673.62bn/-) contract for implementation of 414 kilometres power interconnection transmission line project to link Tanzania and Kenya.   It will be constructed from Singida via Arusha to Namanga border and Isinya in Kenya, covering 318 kilometres in Tanzania while the remaining 96 kilometres will be built in Kenya. The power line is.... Read more »

Posted on : Wednesday , 12th October 2016

Twinsaver invests R580 million in equipment

 THE multimillion-Rand investment in production equipment by local tissue manufacturing company, Twinsaver, will boost supplies to the local and export markets as well as maintain the company’s leading position in the sector. The company, which has been operating in South Africa for over 60 years, has announced an investment of R580 million (US$42 million) at its Bellville and Kliprivier operations in the Gauteng and Western Cape.... Read more »

Posted on : Tuesday , 11th October 2016

South Africa's Mondi to buy Russian packaging firm Beepack

 South Africa's Mondi has signed an agreement to acquire Beepack from a private investor for 41 million euros ($46 million) as part of plans to expand its packaging business, the paper group said on Monday.   Mondi, which is also listed in London, expects to complete the transaction in the fourth quarter, with CEO David Hathorn saying that the Russian business will support the development of Mondi's Corrugated Packaging operations in.... Read more »

Posted on : Tuesday , 11th October 2016



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