Market News Page No. 453| Africa Business News | Afrotrade

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African Potash signs supply deal with Zambia distributor

Shares in African Potash (LON:AFPO) jumped Friday after the miner announced it has sealed a deal to sell 50,000 metric tonnes (MT) of its fertilizer product to a Zambian distributor in the Common Market for Eastern and Southern Africa (COMESA) for $500 a tonne. The stock was up 2.5% at 3.625p in early trading, a fresh 12-month high, and traded around 2.9p mid-afternoon in London on the news. This is the third supply deal the sub-Sahara.... Read more »

Posted on : Wednesday , 30th September 2015

Maintenance of public roads in Uganda to cost US$ 26m

The government of Uganda has announced that it was embarking on a road maintenance programme to boost transport. Public roads in Uganda according to the government need a face lift. The maintenance of public roads in Uganda will cost a whopping US$ 26m. Michael Odongo, the executive director of the Uganda Road Fund confirmed the reports and urged the Government to play their oversight role over the money. “I provide this.... Read more »

Posted on : Wednesday , 30th September 2015

Amplats unveils constructed cogeneration power plant in South Africa

Anglo American Platinum (Amplats) recently unveiled its 5MW cogeneration power plant in South Africa worth US $10.63m located at its Waterval Smelting Complex in Rustenburg. The cogeneration power plant in South Africa was commissioned by project developer Vuselela Energy and Equity provider H1 holdings and it would help capture waste heat from Amplat’s conversion plant which was already generating 3.2MW of power. According to the.... Read more »

Posted on : Wednesday , 30th September 2015

Infrastructure construction in Egypt to get boost from World Bank

Infrastructure construction in Egypt is set to improve as the World Bank head Jim Yong Kim expressed his support in various ongoing and upcoming projects. In a meeting with Egyptian president Abdel-Fattah El-Sisi over the weekend in New York the World Bank boss said Egypt has a great potential in terms of development and it deserves more support. According to the president in a statement they both agreed that the country need more reforms.... Read more »

Posted on : Tuesday , 29th September 2015

Construction of Zambia, Tanzania, and Kenya power interconnector in Progress

Construction work has begun on different sections of the sites identified for power lines for the Zambia, Tanzania, and Kenya power interconnector. In a recent meeting of energy held in Arusha, Tanzania, for permanent secretaries, senior officials and experts form Zambia, Tanzania and Kenya, it was indicated that outstanding progress had been made on the interconnector. Power Pylons, Substations and cabling had already been.... Read more »

Posted on : Tuesday , 29th September 2015

Mega International airport in Ethiopia to be constructed

Plans are underway for the construction of a mega International airport in Ethiopia, the Ethiopian Airports Enterprise has announced. The Ethiopian Minister of Transport, Workneh Gebeyehu confirmed the reports and said that Ethiopia is to break the ground for a new mega hub airport in the vicinity of Addis Ababa. “The new mega hub will move the aviation industry in Ethiopia to a higher level. It will make Addis Ababa the.... Read more »

Posted on : Tuesday , 29th September 2015

Sierra Cables PLC to construct cable manufacturing factory in Kenya

Sierra Cables PLC is set to construct a cable manufacturing factory in Kenya in a bid to cater for increasing power generation projects in East Africa. The Sri Lankan company announced that it will partner with a Kenyan strategic partner to construct the cable manufacturing factory in Kenya. Sierra Cables PLC settled on this construction project after completing a feasibility study on developing a cable manufacturing plant in.... Read more »

Posted on : Tuesday , 29th September 2015

East Africa: Eaton Roots for Storage of Power Generated From Renewable Sources

Power management firm Eaton is calling for adoption and use of renewable energy storage technologies in Africa as uptake of alternative energy and power rises in the continent. During the recent East Africa Power Industry Convention (EAPIC) in Nairobi, Louis Shaffer, Eaton's Distributed Energy Segment Manager for Europe, Middle East and Africa Region noted that renewable energy was a major theme at the 3-day event. EAPIC is an annual.... Read more »

Posted on : Tuesday , 29th September 2015

Kenya: Firms in Rush to Obey Energy Audit Directive

Industries and large institutions are in a race to comply with a directive to carry out energy audits ahead of today's statutory deadline. The Energy Management Regulations 2012 published by the Energy Regulatory Commission require consumers of more than 180,000 units of electricity per year to carry out audits every three years. They target saving of at least 30 per cent per institution within the three years to reduce electricity.... Read more »

Posted on : Tuesday , 29th September 2015

East Africa: Gas for Electricity

In a move to end power outages, Tanzania Electric Supply Company (Tanesco) is switching from hydroelectric power and diesel to gas for electricity generation for power generation. This is being achieved through a government investment of Tsh2.5 trillion ($1.25 billion). The funding is part of Tsh8 trillion ($4 billion) to be spent on power generation projects. Key targets are big investment ventures including industries, tourist hotels and.... Read more »

Posted on : Tuesday , 29th September 2015

Kenya: President Strikes Multi-Billion Investment Deals With U.S. Firms

Kenya has secured commitments amounting to billions of shillings from American companies to increase power production and finance infrastructure projects. Some of these projects have already been initiated. President Uhuru Kenyatta said the commitments were secured during a morning meeting with the American companies under the umbrella Business Council for International Understanding (BCIU). He said Africa was the continent in focus for.... Read more »

Posted on : Tuesday , 29th September 2015

Crown Paints unveils new paint products

The lead manufacturer of paints, Crown Berger Kenya has unveiled new products to bring in the fast and ever growing technology improvements in construction industry. One of the products launched is a colour mobile application for efficient products and service delivery.The first product is a water repellant paint referred to as the ultra guard silicone paint. One of its unique features is that it can withstand extreme weather conditions,.... Read more »

Posted on : Monday , 28th September 2015

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