Market News Page No. 345| Africa Business News | Afrotrade

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Kenya: The New Mining Frontier of East Africa

Nairobi — THE Kenya Mining Forum scheduled for next month in Nairobi will showcase why the East African country is the new mining frontier. Mining Cabinet Secretary, Dan Kazungu, says the government has recognised the mining industry is a key pillar for growth and economic transformation and thus is preparing the country for the next big wave of mining activity. "With just a handful of companies operating in the.... Read more »

Posted on : Thursday , 4th August 2016

Tanzania aims to complete oil pipeline from Uganda in 2020

Tanzania plans to complete construction of a crude oil pipeline from Uganda in 2020 at an estimated cost of $3.5 billion, its energy ministry said yesterday. Uganda said in April it would build a pipeline to ship out crude from its fields in the Albertine rift basin, through Tanzania rather than Kenya, which had wanted to secure the export route. Picking a route is vital for oil firms to make final investment decisions on.... Read more »

Posted on : Thursday , 4th August 2016

Kenya inks deal with France to boost electricity access

Kenya has inked a deal worth $37 million with France in a bid to add renewable power through mini grids. The deal is meant to boost electricity access to millions of Kenyans who are still not connected to the grid. “This 33 million euro financing will support the installation of renewable energy generation units (primarily solar photovoltaic, but also in some cases wind turbines) in 23 mini-grids currently powered by diesel.... Read more »

Posted on : Wednesday , 3rd August 2016

TTCL wins 1bn/- Tanroads tender for internet connection

The signing ceremony was witnessed by the Tanroads Chief Executive, Mr Patrick Mfugale and TTCL Chief Executive Officer, Dr Kamugisha Kazaura, in Dar es Salaam yesterday. Mr Mfugale said at the event that project to be completed in 12 months period is expected to boost efficiency of the agency. “Tanroads value experience and technical skills that TTCL has, particularly the use of the national fibre optic, thus the internet.... Read more »

Posted on : Wednesday , 3rd August 2016

Mobile Industry To Help In Economic Development: Tanzania Minister

Dar es Salaam – The government has urged mobile industry to play a major role in the economic development of Tanzania. Tanzania’s Minister of Works, Transport and Communication was speaking at the GSMA 360 Africa conference and said 18000 km of fibre-optic has been laid by the government for innovation and technology, and also for innovative solutions and services in the continent and across the world as well. Prof..... Read more »

Posted on : Wednesday , 3rd August 2016

Kenya: Matiang�i signs Sh3 billion deal to train medics

The state and the French government have agreed on a Sh3 billion funding project to train medics in local private and public universities, Education CS Fred Matiang’i (pictured) said yesterday. “I encourage scholars and researchers, regardless of whether their institutions are public or private, to submit proposals for this cheap funding that has come with low interest rates,” he said. Matiang’i.... Read more »

Posted on : Wednesday , 3rd August 2016

France lends Kenya sh3 7b for energy production

In a major boost to the country’s efforts to transition from dirty and expensive fossil fuel to clean energy, the wind and solar energy project is expected to reduce the average cost of electricity production by an average of 20 per cent. French Foreign Affairs Minister Jean Marc Ayrault, who is on an official visit to Kenya, witnessed the signing of the financing agreement at State House yesterday. The deal was signed by.... Read more »

Posted on : Wednesday , 3rd August 2016

Kenyan pastoralists get Sh7.7bn World Bank support

Pastoralists are set to benefit from a Sh7.7 billion World Bank loan expected to ease losses related to drought and disease. The financing is expected to cater for a range of activities including water provision, re-seeding of rangelands, animal vaccination and storing fodder to ensure increased yields for about 93,000 pastoralist households. Clashes between pastoralists over pasture and water have intensified in recent.... Read more »

Posted on : Wednesday , 3rd August 2016

Tanzania: Govt On Track to Power One million Villagers

Dar es Salaam — Over one million new customers are expected to be connected to electricity services in the next five years during the implementation of phase three of the Rural Energy Agency (Rea) project. The government will spend a total of Sh7 trillion to implement the project, according to Rea acting director general Boniface Nyamo-Hanga. Through the project, over 7873 villages will be connected to electricity.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya overtakes SA as biggest investor in African countries

Nairobi - Kenya has overtaken South Africa as the biggest investor in African countries. It invested in 36 projects in other parts of the continent last year, compared to South Africa’s 33. According to a report by Ernst & Young, Kenya’s Foreign Direct Investment (FDI) also went up six positions - from 13th in 2014, to 7th last year reports. The report added that 78% of financial and business services.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya, France Sign Sh3.6bn Deal for Northern Kenya Power Grid

Nairobi — Kenya and France Monday signed a deal of Sh3.63 billion for power grids in Northern Kenya counties, boosting the government's efforts to provide affordable power to all Kenyans. President Uhuru Kenyatta and French Foreign Minister Jean-Marc Ayrault witnessed the signing of the Credit Facility Agreement at State House, Nairobi. The deal will provide funds for a mini-grid retrofitting project that will be.... Read more »

Posted on : Tuesday , 2nd August 2016

Kenya: Concerted Effort to Fight Cholera Shows Significant Success

"Cholera cases within my community have dropped drastically," said Ibrahim Hussein, Chief of Bulla Power in Mandera County, Kenya. "This relief distribution will go a long way to ensuring that my community keeps its water safe for drinking," he added, while supporting the Kenya Red Cross Society in distributing non-food items to his community, which has been ravaged by a cholera outbreak. Red Cross staff and.... Read more »

Posted on : Tuesday , 2nd August 2016

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