Market News Page No. 423| Africa Business News | Afrotrade

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Kenya: Before Renewable Power Plant Is Completed, Geothermal Overtakes Hydro in Kenya

Olkaria — In its quest to generate more reliable, climate-friendly electric energy, Kenya has become the first country in the world to make use of temporary geothermal wellheads, which are currently injecting an extra 56 megawatts into the national grid. According to engineers at the Kenya Electricity Generation Company (KenGen), it takes a number of years to construct a single geothermal power plant, because it has to be fed by.... Read more »

Posted on : Saturday , 24th October 2015

African Energy in Good Standing

Gaborone — The dual listed African Energy says it is in good financial standing following steps the company undertook to reduce expenditure such as structured divestments and staffing levels, executive salaries and corporate overheads. African Energy is listed in the Botswana Stock Exchange (BSE: AFR) and Australian Securities Exchange (ASX: AFR). The company states in its annual report released recently that it has acquired a.... Read more »

Posted on : Saturday , 24th October 2015

Nampower Invest in Bush to Electricity Power Generation

The use of encroacher biomass as a source of renewable energy has a large potential for the energy sector and the economy as Nampower prepares to generate electricity from invader bush. Electricity utility, Nampower will start with the feasibility phase as the finance strategy is yet to be confirmed. A 2012 pre-feasibility study found sufficient encroacher bush biomass to supply 10 plants of 20 MW each for about 189.... Read more »

Posted on : Saturday , 24th October 2015

Tanzania: Acacia Mining Swings to the Red in Third Quarter

Tanzania's largest gold miner announced it posted net loss in the third quarter compared with the same period a year ago due to lower output and higher costs. The gold mining company reported in its financial statement that it made a reported net loss of 13 million US dollars in the three months to September 30 compared with net profit of 28 million US dollars in the same quarter a year before. The loss reflected 20 per cent.... Read more »

Posted on : Saturday , 24th October 2015

Angola: Mining Centres Crucial for Industrialisation - Specialist

Luanda — The creation of the mining development centres as one of Government's options to diversify the economy, represents a basis for the industrialisation of the country. This was said by specialist José Cerqueira during an interview on the State-run daily paper "Jornal de Angola" published in its Thursday's edition. José Cerqueira stressed the importance of the mining centres saying that in the.... Read more »

Posted on : Saturday , 24th October 2015

Sudan keen for Indian investment in agriculture, gold mining

Agriculture, gold mining and petroleum are prime areas where Sudan wants India to invest in the coming years, Sudan's Ambassador to India Hassan E. El Talib said on Friday. "India-Africa relations have been historic. Over the years, Sudan has emerged as a major producer of gold. We want India to invest more in gold mining, apart from other areas such as agriculture and infrastructure, through which India-Sudan relations can reach new.... Read more »

Posted on : Saturday , 24th October 2015

Rwanda: Government Streamlines Mining Licence Process

Kenya's Java House has 36 coffee houses and restaurants and plans to open outlets across Africa in the next five years to capitalise on rising consumer spending, its chief executive said. Kevin Ashley, who founded Java's first outlet in Nairobi in 1999, said the company would open in Kigali, Dar es Salaam, Lagos, Accra and Lusaka. For now, the firm's only outlets beyond Kenya are in Uganda's capital Kampala. "We see in five years time.... Read more »

Posted on : Saturday , 24th October 2015

Kenyan coffee chain Java House targets Africa expansion

Kenya's Java House has 36 coffee houses and restaurants and plans to open outlets across Africa in the next five years to capitalise on rising consumer spending, its chief executive said. Kevin Ashley, who founded Java's first outlet in Nairobi in 1999, said the company would open in Kigali, Dar es Salaam, Lagos, Accra and Lusaka. For now, the firm's only outlets beyond Kenya are in Uganda's capital Kampala. "We see in five years time.... Read more »

Posted on : Saturday , 24th October 2015

Rapid Expansion of the Automotive Sector in Kenya

Kenya, the economic, commercial, and logistical hub of the entire East African region and the most developed economy in Eastern Africa, is growing rapidly. The economy grew by 5.3% in the year 2012 and is projected to reach 10% growth by 2017 as the government takes steps to enhance Kenya’s economic competitiveness. The Automotive industry in Kenya is primarily involved in the retail and distribution of motor vehicles. There.... Read more »

Posted on : Saturday , 24th October 2015

Railway investments in Egypt Set to hit US$11Billion by 2030

Railway investments in Egypt are set to hit US$11 Billion by 2030 chairman of Egypt’s National Railway Authority Ahmed Hamid has announced. He noted enormous growth of the railway system in the country. He added that the general investment plan of the authority is represented in three axes: the most important one is the urgent plan, with an estimated value of EGP7.17bn, followed by the medium plan estimated at roughly EGP14.413bn.... Read more »

Posted on : Saturday , 24th October 2015

BASF Construction launches concrete admixtures production plant in Africa

Germany based construction product manufacturer BASF Construction Chemicals has launched its new concrete admixtures production plant in Nigeria. The plant is expected to respond to the ever growing demand for concrete admixtures products. Speaking during a press briefing, Nair Narayanan who is the country Manager for BASF Construction Chemicals, Chemicals said that the construction of concrete admixtures production.... Read more »

Posted on : Saturday , 24th October 2015

Getting set for construction of Nuclear Power Plants in Africa

Preparation for construction of Nuclear Power Plants in South Africa has begun in earnest after the department of energy received US $14.80m from the National Treasury for feasibility study putting into consideration the cost, benefits and risks involved. This allocation comes a year after South Africa faith communities’ Environment Institute (SAFCEI) marked its first anniversary of protest against nuclear plans due to.... Read more »

Posted on : Saturday , 24th October 2015

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