Market News Page No. 398| Africa Business News | Afrotrade

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Simba Completes Definitive Agreement for Block 2A, Kenya

Simba Energy Inc. (the “Company” or “Simba”) (TSX Venture: SMB) (Frankfurt: GDA) (CQX: SMBZF) is pleased to announce it has executed a definitive farmout agreement (“Definitive Agreement”) with Essel Group Middle East DMCC (“Essel Group Middle East”) on Block 2A in Kenya wherein Essel Group Middle East will earn a 60%participating interest in Block 2A by funding 100% of exploration expenses until.... Read more »

Posted on : Saturday , 5th December 2015

Tanzania: Huge Business Opportunities Await SMEs in Gas, Oil Sector

Aberdeen City Council Director, Gordon McIntosh, sharing the Scottish City experience in the industry, said the government ought to help the small businesses to identify the available opportunities as well as issue financial support in the form of grants and loans. He said Mtwara was a potential East and Central Africa’s gas and oil hub, challenging the government however to work closely with the private sector to realise the dream..... Read more »

Posted on : Saturday , 5th December 2015

Petra and Ekapa Acquire De Beers Oldest Diamond Mine

According to Reuters, Petra Diamonds Ltd and South African’s Ekapa Minerals would buy De Beers’ Kimberley mines for 102 million rand ($7.1 million). In last May, De Beers announced that it put the mining operations in Kimberley on sale. Kimberley mines is located in the Northern Cape Province of South Africa. In 1871, a discovery of 83.5 carat diamond near a farm belong to De Beers family started a new rush. Huge wave of people.... Read more »

Posted on : Saturday , 5th December 2015

Tanzania: Wind Power to Give Singida City Status

Dar es Salaam — The envisaged Singida Wind Power project will roll the region's economic fortunes and turn the municipality into a city during the next few years, the project developers said yesterday. Singida Region is home to 1.37 million people, according to the 2012 Population Census, with the Singida Municipality alone having 150,000 people. Apart from population - which is mostly more than 300,000 for the.... Read more »

Posted on : Saturday , 5th December 2015

Kenya: Energy Stakeholders Convene in Nairobi for UN Backed Forum

Government representatives and the private sector from across East Africa are meeting in Nairobi for a conference on sustainable energy (SE4All forum) backed by the United Nations. The forum seeks to identify areas of potential collaboration by way of joint investments to implement national plans aimed at enhancing access to modern energy services. The meeting will also pursue ways of doubling contribution of renewable energy.... Read more »

Posted on : Saturday , 5th December 2015

Rwanda: Fresh From Israeli, Agric Experts Commit to Modern Farming

After a one year agriculture training course in Israel, a team of 17 agriculture technicians is looking to improve the country's agricultural output by introducing modern technologies. The team has formed the 'Rwanda Agriculture Promoters Organisation (RAPO)', a non-profit organisation that aims to help farmers find solutions to the various challenges that they face in order to improve their yields. During the visit of Impuhwe.... Read more »

Posted on : Saturday , 5th December 2015

GVL Imports U.S.$30 Million Palm Oil Mill Equipment

The newly appointed administration of the National Port Authority (NPA) has said that a shipment of mill equipment valued at US$30 million has arrived at the Samuel A. Russ Port in Greenville, Sinoe County. The multi-million dollar consignment of equipment, according to NPA, was shipped to Liberia by Golden Veroleum Liberia Limited (GVL) in anticipation of the construction of a Palm Oil processing plant in the southeastern.... Read more »

Posted on : Saturday , 5th December 2015

New Partnership to Strengthen the Private Seed and Agricultural inputs Sector in Senegal, with Thousands of Farmers to Benefit

Action for Enterprise (AFE), the Argidius Foundation and the Alliance for a Green Revolution in Africa (AGRA), have partnered for a new initiative to make it easier for Senegal’s smallholder farmers to access quality seed, complementary inputs and agricultural advice. Through the partnership, AGRA and AFE will work directly with local seed companies and agribusinesses to develop, refine and test business strategies to help expand.... Read more »

Posted on : Saturday , 5th December 2015

Japan to fund construction of solar power plant in Africa

Japan will fund the construction of a solar power plant in Egypt in a move aimed at enhancing energy the sector in the country Foreign Minister Sameh Shoukry has announced.The solar power plant will be constructed at a cost of $US 100 million. The power plant will have a capacity of 20 megawatts and will be located in the sunny Red Sea resort town of Hurghada. In a statement released by Ismail Khairat,.... Read more »

Posted on : Saturday , 5th December 2015

Turkish construction firm partners with Unicef to build school in Africa

A Turkish construction company has partnered with Unicef to build a school in Nigeria aimed at enabling hundreds of children get education. Turkish prefabricated housing firm Karmod, will construct the school in Nigeria’s Borno province. The first phase of the project will see the building of 30 mobile prefabricated classrooms with desks, chairs, cabinets made and sent by Karmod. In the school each.... Read more »

Posted on : Saturday , 5th December 2015

Construction of Inga 3 hydroelectric project in Africa gets new impetus

The government now hopes to launch the construction of long-delayed Inga 3 hydroelectric project in DRC and hopes work can start by early 2017, the country’s prime minister has announced. Augustin Matata Ponyo told the media in London on the sidelines of an African investment conference in London that the construction OF 3 hydroelectric project in DRC is in very advanced stages and that the government was in the.... Read more »

Posted on : Saturday , 5th December 2015

AVM Africa to Assemble and Manufacture Tractors in 2016

ZIMBABWEAN coach assembler AVM Africa says it will venture into assembling and manufacturing tractors in 2016 starting with 400 units. CEO Musanhi said this followed a partnership with a local company owned by the Zimbabwe National Liberation War Veterans' Association (ZNLWVA), which is set to sign a billion-dollar agreement with a Chinese firm to set up a plant in Zimbabwe. Musanhi said the 400 units will be the first of more to.... Read more »

Posted on : Friday , 4th December 2015

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