Market News Page No. 370| Africa Business News | Afrotrade

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Campaign to light up off-grid areas launched by Tanzanian solar firm

Mobisol Marketing Manager Allan Rwechungura said in Dar es Salaam at the weekend that the campaign targets to improve lives of hundreds of thousands of Tanzanians living in off grid areas -- particularly those in rural areas where power supply is still a problem -- by enabling them to access affordable solar power. “This new campaign is part of our efforts to complement the Government’s ambitious plan to ensure that the.... Read more »

Posted on : Tuesday , 23rd February 2016

Equity, Indian Solar firm tie up to offer low interest loans to equipment buyers

Equity Bank has partnered with an Indian solar energy firm to advance buyers of its equipment loans at interest rates of as low as eight per cent. The lender said that the deal with Orb Energy is meant to trigger uptake of solar water heating equipment, solar lamps, solar powered TV and solar panels. Interest on the loans that target homes, retail and businesses will range from between eight per cent to 21 per.... Read more »

Posted on : Tuesday , 23rd February 2016

German disinfectant maker eyes Kenyan market with Pharmaken tie up

A German pharmaceutical firm has announced plans to enter the Kenyan market targeting health facilities and medical staff with its range of disinfectants. Dr Schumacher has partnered with Pharmaken Ltd, winner of last year’s Business Daily sponsored Top 100 competition for small and medium sized enterprises, to exclusively retail in Kenya hygiene products and disinfectants used on hospital surfaces, surgical tools and by medical.... Read more »

Posted on : Tuesday , 23rd February 2016

RVR, Egyptian traders ink chemical, fertilizer cargo deal

Rift Valley Railways is set to become the main inland transporter of Egyptian fertiliser and chemicals from the Mombasa port after signing a memorandum of agreement with the Egyptian export council for chemicals and fertilisers. The MoU was signed at the weekend during the Africa 2016 conference in Egypt between the export council and Egyptian private equity fund Qalaa Holdings. Qalaa holdings owns 85 per cent of the Rift.... Read more »

Posted on : Tuesday , 23rd February 2016

Construction of state-of-the-art Olympic stadium in Rwanda to begin end of year

Rwanda Housing Authority (RHA) has confirmed that the construction of the long awaited state-of-the-art Gahanga Olympic Stadium will kick off later this year. The Rwanda Housing Authority (RHA) Director General, Eng. Didier Sagashya told the this website that the Gahanga Olympic Stadium is among multi-million dollar projects that by been contracted to Rwanda Housing Authority by the Rwandan Government. He said, "We have.... Read more »

Posted on : Tuesday , 23rd February 2016

120 MW gas fired power station unveiled in Mozambique

Mozambique President Filipe Nyusi has officially inaugurated the 120 MW Gigawatt Park gas fired power station, in Ressano Garcia. The project was developed by Gigajoule International, a South African investment group and majority shareholder in the project and took 18 months to complete. The plant’s 13 generators of 9.3 MW each were manufactured by multinational corporation ABB and powered by Rolls-Royce engines..... Read more »

Posted on : Tuesday , 23rd February 2016

Construction of major flyover by State govt. begins in Nigeria

Lagos State Government has commenced the construction of the Abule-Egba flyover in Nigeria. The state government has directly engaged stakeholders towards the projects’ successful completion. While addressing the stakeholders on the construction of the Abule-Egba flyover on Thursday at Abule Egba area in Lagos, southwest Nigeria, Engr. Ganiyu Johnson, Commissioner for Works and Infrastructure, assured the government focus on.... Read more »

Posted on : Tuesday , 23rd February 2016

Construction of Solar power plant in Egypt to be financed by Japan

The Egyptian government is now set to construct one of the largest solar power plant in Africa after receiving $89m loan from Japan. The 20MW Solar power plant in Egypt with the capacity storage of 30 MW will be constructed close to Egyptian city of Hurghada. The project will comprise a 20 MW solar PV plant and a 30 MW storage facility, which will utilize several different types of battery technology, including lithium-ion and.... Read more »

Posted on : Tuesday , 23rd February 2016

Japanese firm to construct Thermal power plant in Mozambique

Sumitomo Corporation, a Japan based firm is set to construct a thermal power power plant in Mozambique with future expansion plans in neighbouring Tanzania. Sumitomo aims to expand its power generation business in the African continent and has partnered with heavy industry group IHI on a $149 million order from Mozambique’s state-run electric utility for a natural-gas-fired plant to be built near the capital.... Read more »

Posted on : Monday , 22nd February 2016

Egypt eyes $1bn investments in renewable energy sector

Egypt is set to attract direct foreign investments of $1 billion in the renewable energy sector during the current year, Dr Sherif Oteifa, the Minister of Investment advisor, said Wednesday. The advisor made these comment during Egypt Energy Investment Summit that take place between 16 and 18 February 2016 in Cairo. He added that the total expected amount of the foreign investments during the current year in Egypt's energy.... Read more »

Posted on : Saturday , 20th February 2016

Funding for Egypt's energy sector by African Development Bank hits $1.2bn

African Development Bank (ADB) has allocated finances estimated at US$1.2 billion to enhance Egyptian energy sector, Khaled El-Askari -principal energy officer at ADB- told Amwal Al Ghad Thursday. He stated that the bank is studying participating with US$100-200 million to finance establishing the power plant in Beheira governorate. On Wednesday, the Egyptian Cabinet endorsed the draft of President Abdel Fattah al-Sisi's decree.... Read more »

Posted on : Saturday , 20th February 2016

$1.9 billion to be invested in fertilizer plant by Tanzania Petroleum Development Corporation

The Tanzania Petroleum Development Corporation has announced that it will invest in a fertilizer plant to be set Kilwa division Lindi district German investors Ferostaal Industrial Project GmbH at a cost of $1.9 billion. TPDC says it is the government’s plan to support companies investments in the extractive sector with the plant expected to produce 3850 tonnes of fertilizer daily. TPDC Wellington HudsonAccording to TPDC.... Read more »

Posted on : Friday , 19th February 2016

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