Market News Page No. 364| Africa Business News | Afrotrade

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Nigeria: President Targets 10,000MW of Electricity Generation

President Muhammadu Buhari on Monday said his administration has set a target of delivering 10,000 megawatts of electricity generation in the next three years. The president, who stated this while addressing the National Economic Council retreat held at the State House, Abuja, said this year alone the administration would add 2000 megawatts to the national grid. Mr. Buhari assumed office on May 29 last year. He said,.... Read more »

Posted on : Wednesday , 23rd March 2016

Gambia: FAO, Ministry of Agriculture Launch D20 Million TCP Project On Commercial Poultry Production

The Gambia government and the Food and Agriculture Organisation (FAO) Thursday launched the Technical Cooperation Project (TCP) /GAM/3503; Title "Assistanceto EnhanceCommercialPoultryProduction for Food Security". The TCP worth USD489,330 or close to D20 million was signed between the Ministry of Agriculture and FAO on 30 November 2015. In his launching statement, Dr. Duto Sainey Fofana, Director General the.... Read more »

Posted on : Wednesday , 23rd March 2016

Zimbabwe: Mining Company's Gold Production On The Up

Caledonia Mining Corporation's annual gold production rose in 2015 despite work on a major upgrade at its 49 percent owned Zimbabwe mining unit, Blanket mine. Production at Blanket Mine for the year was 42 800 ounces against 41 800 ounces and all largely due to higher output in the fourth quarter of 11 510 ounces.Grades during the period were lower on average and this pushed up costs while revenues were also affected by the lower gold price.... Read more »

Posted on : Wednesday , 23rd March 2016

Floating Power Station Inaugurated in Mozambique

Maputo — The Mozambican and Zambian Presidents, Filipe Nyusi and Edgar Lungu, on Saturday inaugurated a floating power station in Nacala in the northern province of Nampula. The power station can generate 100 megawatts and can supply northern Mozambique and Zambia. The Turkish vessel containing the power station has been docked at Nacala port since 18 February. 110 kilovolt cables were connected, linking the ship to two.... Read more »

Posted on : Tuesday , 22nd March 2016

Uganda: Solar Power Plant to Add 10MW to National Grid

Kampala — Energy ministry in partnership with Access Uganda Solar Limited has launched a 10MW solar power plant in Soroti District, aimed at increasing power access in the eastern district. The power produced from the $19m (about Shs64b) solar power plant is expected to be added to the national grid in July and will power 40,000 homes and businesses in an area where electricity access is still very low. Speaking at the.... Read more »

Posted on : Tuesday , 22nd March 2016

Kenya: County to Utilize Solar Energy to Pump Underground Water

Tharaka-Nithi county will use solar energy to pump underground water to generate electricity. Speaking in Tunyai on Saturday where he commissioned a Sh1.3 million solar powered domestic water pump, Physical Planning, Energy and Lands chief officer Sebastian Mwangangi said "we are determined to use heat from the sun in changing lives of the locals." The project is funded by USAID and the county government. A.... Read more »

Posted on : Tuesday , 22nd March 2016

Nigeria: Construction begins on U.S.$300 Million Stadium Project in Nnewi

Awka — Chairman FC Ifeanyi Ubah, Chief Ifeanyi Ubah, has disclosed that his club has started the construction of a $300 million stadium project in Nnewi, Anambra State. Ubah said while fielding questions from journalists on Friday in Nnewi that the stadium would create about 5,000 jobs on completion, while it would be the first of its kind in Nigeria. He added: "The stadium would be made up of a games village, youth.... Read more »

Posted on : Tuesday , 22nd March 2016

Nigeria: State Govt. Commences Construction of 114 Rural Roads

The Lagos State government said it has commenced the construction of the promised 114 roads, across the 57 council areas of the state, to bring succor to the people at the grassroots. This move, according to Governor Akinwunmi Ambode, is in fulfillment of one of his campaign promises of investing massively in the construction of rural roads. Recall that the governor, at the monthly meeting of the Executive Secretaries of the.... Read more »

Posted on : Tuesday , 22nd March 2016

Nigeria: Six Percent Rise in Oil Prices As Producers Agree to Cooperate

Oil prices jumped by almost six per cent on Thursday thus erasing losses of the past two days, after major producers firmed up plans to meet in Qatar to discuss an output freeze. United States crude settled up $2.12, or 5.8 per cent, at $38.46 a barrel, after falling by five per cent in the past two sessions. Brent crude finished up $1.59, at $40.33 a barrel, after falling below $40 in previous sessions. Crude prices.... Read more »

Posted on : Monday , 21st March 2016

Kenya to Partner Uganda in Cross-Border Fish Trade

Kenya and Uganda have agreed to create a common platform to facilitate cross-border trade in fish and fishery products, using Busia border as a model. The East African Community (EAC) has already developed the regional sanitary and phytosanitary (SPS) standards, the inspectors' guide, standard operating procedures and the sanitary measures to guide in the trade and roll-out plan. The programme aims to facilitate trade and ease.... Read more »

Posted on : Monday , 21st March 2016

Kenya: Govt to Bring Investors Closer to Power Plants In Bid to Cut Costs

Kenya will set up investors near geothermal plants to cut the cost of electricity and offer subsidies in order to compete with her neighbours. Mr Mohamed said on Thursday that they will set up investors at the shores of Lake Naivasha near the geothermal power plant to cut transmission charges to make Kenya attractive. "We are going to set them up at Naivasha near the geothermal plant where power is much cheaper since it is.... Read more »

Posted on : Saturday , 19th March 2016

IAEA to Support Nigeria Generate 4,000 Megawatts of Electricity

Abuja — President Muhammadu Buhari has appreciated the support of the International Atomic Energy Agency, IAEA, for Nigeria's quest to generate 4,000 megawatts of electricity using nuclear energy. This came as Ministers of Power, Solid Minerals, Health, Science and Technology told President Buhari that Nigeria would soon start a program that will help the country realize the objective. According to them, it will commerce.... Read more »

Posted on : Saturday , 19th March 2016

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