Market News Page No. 445| Africa Business News | Afrotrade

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Ethiopia will boost power generation to 17,000 MW in five years

Implementing its second Growth and Transformation Plan (GTP II) in the coming five years, Ethiopia will endeavor to boost its power generation to at least 17,000 MW, said Ethiopia’s President Mulatu Teshome. Having completed the implementation of its first GTP, the East African country in September launched the second GTP, which the president said is a decisive chapter in the country’s development, designed to realize the first half.... Read more »

Posted on : Wednesday , 14th October 2015

Tanzania President Kikwete inaugurates new Mtwara gas project

Tanzanian President Jakaya Kikwete has officially inaugurated a 535-kilometer Mtwara to Dar es Salaam gas pipeline built with a 1.225-billion-U.S.-dollar concessional loan from the Export-Import Bank of China. The construction of the gas pipeline that transports natural gas from Tanzania’s southern region of Mtwara to the commercial capital Dar es Salaam started in June 2013 and was undertaken by China Petroleum Technology and.... Read more »

Posted on : Wednesday , 14th October 2015

East Africa foreign investments grow by 11 per cent

Foreign Direct investment (FDI) in East Africa grew by 11 percent between 2013 and 2014 buoyed by regional integration, an economic insight reveals. The report released by the Institute of Chartered Accountants in England and Wales (ICAEW) received in Nairobi attributes surge in FDI in the region to efforts for closer regional integration in the East African Community (EAC), which has involved harmonizing investment regulations across the.... Read more »

Posted on : Wednesday , 14th October 2015

East Africans planning to fast track integration of capital markets

The East African Community (EAC) member states are fast tracking the integration of the capital markets in order market the region as a single investment destination, Kenyan officials have confirmed. The Capital Markets Authority (CMA) Acting CEO Paul Muthaura said there is a clear road map for the harmonization of legal frameworks of the five EAC member states. "The first batch of seven EAC Council of Ministers directives have.... Read more »

Posted on : Wednesday , 14th October 2015

Tanzania Moves to Bring Dar es Salaam Port Services Closer to Rwandan Traders

Rwandan traders are set for early Christmas after the Tanzania International Container Terminal (TICTs) announced that it will open a country liaison office in Kigali before the end of the year. This is in a bid to bring the Dar es Salaam port services closer to traders in Rwanda. The announcement was made last week, in Kigali, by Paul Wallace, the chief executive of TICTS, a private company that handles 80 per cent of the Dar.... Read more »

Posted on : Tuesday , 13th October 2015

Tanzania: Mahindra to Open Tractor Factory in Zanzibar

Zanzibar — Mahindra company from India is planning to open a tractor assembling plant here, Zanzibar President, Dr Ali Mohamed Shein, revealed here yesterday. Dr Shein said negotiations with the Indian company were currently going on. He also disclosed that his government would also purchase 100 tractors from the company to improve agriculture in the Isles. "Mahindra is one of the biggest companies globally and its expected.... Read more »

Posted on : Tuesday , 13th October 2015

Chinese Steel Manufacturer Expresses Confidence in Buhari's Govt

The management of HongXing Steel Company, a Chinese steel manufacturing company based in Lagos, has expressed confidence in the President Muhammadu Buhari's government. Speaking during a factory tour at the company in Lagos at the weekend, the Managing Director of HongXing Steel Company, Mr. Andy Hu, urged Nigerians to support the federal government in its bid to diversify the economy. Hu, pointed out that with the drop in crude oil.... Read more »

Posted on : Tuesday , 13th October 2015

Tanzania: Swala Oil Selects Tanzania Drilling Site

Dar es Salaam — Swala Oil & Gas (Tanzania) plc has selected a drilling location for the 2016 exploration well that shall be drilled on the Kito prospect in the Kilosa-Kilombero licence. The technical review of the Kilombero Basin has shown the Kito prospect to be robust and has given promising indications of the potential prospectivity within the basin," Dr David Ridge, the firm's CEO said last week. According to.... Read more »

Posted on : Tuesday , 13th October 2015

East Africa: Ethiopia, Djibouti Sign U.S.$1.11 Billion Deal to Construct Pipeline

Ethiopia and Djibouti have signed an agreement to construct a 550km refined petroleum products pipeline worth $1.55 billion linking the two countries. Black Rhino Group and Mining Oil & Gas Services (MOGS) have been contracted to build the 20-inch pipeline to transport petrol, diesel and jet fuel from Damerjog port in Djibouti to Awash terminal in central Ethiopia. Oil products are currently transported over 800 kilometres.... Read more »

Posted on : Tuesday , 13th October 2015

Kenya: Sh15bn plan to transform Embu town into a modern city launched to facilitate trade development

Embu town will be transformed into a modern city complete with two by-passes, a railway line, modern stadium and recreational parks, according to an integrated strategic development plan released yesterday. Once the plan is implemented, the city will boast of dual carriageways, ring roads, pavements on all roads, multi-storey parking spaces and dual carriageways. The plan was prepared by Intercontinental Consultants and Technocrats Ltd and.... Read more »

Posted on : Tuesday , 13th October 2015

Tanzania: Kibo Mining Reveals Optimised Financials for Mbeya Coal Project

Kibo Mining, the Tanzania focused mineral exploration and development company, has “significantly” improved financials for its Mbeya Coal-to-Power-Project (MCPP) coal mine component. The company and its advisers Minxcon Projects have now completed a financial optimisation study for the MCPP coal mine, based on feasibility results received to date. The impact of optimal gearing for the MCPP coal mine was tested on the surface.... Read more »

Posted on : Tuesday , 13th October 2015

UGANDA, TANZANIA AND TOTAL E&P UGANDA SIGN MOU ON CRUDE OIL EXPORT PIPELINE FRAMEWORK

Government of the Republic of Uganda, the Government of the United Republic of Tanzania, the Tanzanian Petroleum Development Corporation and Total E&P Uganda have a today signed a Memorandum of Understanding on the crude oil pipeline development principles. The MOU also provides for other participants to join in the process of assessing and developing this route option creating a working framework for the potential development of a crude.... Read more »

Posted on : Tuesday , 13th October 2015

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