Market News Page No. 472| Africa Business News | Afrotrade

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Construction of City of Hope in Ghana to cost US$10Bn

The Construction of City of Hope in Ghana will cost US$10Bn and will be a world class information communication technologies (ICT) city project meant to bring all players under one roof in three years. Construction of City of Hope in Ghana will consist of a six towers’ project, It will also be Africa’s tallest building at a height of 270 meters. Rig Communications, a locally owned technology giant willbe undertaking the.... Read more »

Posted on : Monday , 3rd August 2015

Australian Investors Eye Tanzania�s Gas Industry

Several Australian companies have shown interest to invest in the country’s natural gas industry, says the Tanzania Investment Centre (TIC).The Mtwara Gas Pipeline is expected to be inaugurated later this month and the facility will enable the country to produce 2800MW of power by 2016. East Africa is now a new oil and gas frontier after a string of hydrocarbon discoveries, which producers hope to exploit to supply energy-hungry Asian.... Read more »

Posted on : Monday , 3rd August 2015

Buhari says oil sector reforms on the cards

NIGERIAN Muhammadu Buhari has assured investors his administration would implement reforms to boost accountability and transparency in the country’s oil and gas industry. Speaking at a meeting with senior officials of Chevron, the oil company, led by the company’s President for Africa and Latin America, Ali Moshiri, Buhari declared that his administration was ready to effectively address the myriad of challenges in the.... Read more »

Posted on : Monday , 3rd August 2015

Tullow to resume Ghana exports in August

TULLOW, the leading independent oil exploration and production company, announced exports from the Jubilee Field to the Ghana Gas plant would resume next month. Exports at the Atuabo facility were suspended earlier this month due to technical issues with gas compression systems on the FPSO (Floating production storage and offloading) Kwame Nkrumah. Oil production is currently constrained to approximately 65 000 barrels of oil per day (bopd).... Read more »

Posted on : Monday , 3rd August 2015

Grand Power Plan On Tanesco Cards

The Tanzania Electric Supply Company Limited (TANESCO) expects to use more than 4 billion US dollars in implementing various projects for generation, distribution and transmission of energy, including energy gas production projects that will help to produce a 300-megawatt surplus. The national power utility firm is also expecting to change the vending system for its prepaid electricity consumption arrangement, LUKU (Lipia Umeme Kadiri.... Read more »

Posted on : Monday , 3rd August 2015

Cosatu Statement On the Introduction of Nuclear Energy

The Congress of South African Trade Unions (COSATU) has noted the plans to build 6 to 8 nuclear power stations. Reports indicate that the introduction of this technology will cost between 400 billion and 1 trillion rand to build. This large sum of money required for financing nuclear energy will come from the taxpayer. COSATU wishes to reiterate the following concerns raised by its affiliate - the National Union of Mine Workers (NUM) on the.... Read more »

Posted on : Monday , 3rd August 2015

Ackermans energy saving scheme a success

ACKERMANS, the South African-headquartered multinational retailer, is reveling in the success of its multi-million Rand project to reduce its energy footprint. In 2013, the organisation, in partnership with UGU Engineering Solutions, embarked on Project Save Watts (SWATTS) at cost of R33,4 million and received a R15 million rebate from Eskom, the power utility. The main aim of the project was to reduce the energy footprint of the business.... Read more »

Posted on : Monday , 3rd August 2015

Major partnership enhances power provision in Kenya

GENERAL Electric has announced a partnership with Kipeto Energy Limited to build a new wind farm in Kenya’s Kajiado County. The local power deal caps off a successful run of more than $2,5 billion in booked orders on the Africa continent across transport, aviation, healthcare and energy sectors. The Kipeto project, announced during United States President Barack Obama’s visit to Kenya, is expected to make a significant.... Read more »

Posted on : Monday , 3rd August 2015

Africa construction sector set for a positive change

Zambia’s National Council of Construction (NCC) issued 3,861 certificates to construction companies between 2014 and 2015, and authorities have said the number of registered companies will rise by the end of the year construction-SarahOwermohle-flickrThe number of certificates issued to construction companies is set to rise by the end of the year in Zambia. NCC board chairperson in Zambia Patrick Kampengele said that out of the.... Read more »

Posted on : Monday , 3rd August 2015

Kenya: Investing towards better infrastructure

Kitui county government says it will spend Sh750 million to rehabilitate the shrinking pre-independence Matinga dam in Kitui west sub-county. Kitui Governor Julius Malombe says reckless human activity is the cause of the dying water source for almost 200,000 residents. He has expressed concern that heavy siltation has left the dam, which was scooped for the first time in 1955, without water. He lamented that cultivation.... Read more »

Posted on : Monday , 3rd August 2015

East Africa to explore more mining options, and develop trade expansion

Rwanda has signed mining contracts with six mining companies to exploit 10 mining concessions that could potentially bring about profits to the tune of US$45mn over the next five years stripmine-tomdef-sxchuThe six companies will mine tantalum, tin and tungsten ores. The concessions are in the western part of Rwanda and will bring in investments of about around US$9mn, stated a Reuters report. Of the six companies awarded.... Read more »

Posted on : Saturday , 1st August 2015

Governors to Get a Seat in Minerals Board

A representative of the Council of Governors will sit at the Mineral Rights Board after a Senate committee introduced changes to the Mining Bill set to be debated Thursday.Senate needs to pass the Bill to beat the August 27, deadline of publishing the Mining Bill, which will have a huge impact on the mining sector. Introduction of membership from governors is seen as a key strategy to mediate conflicts arising from confrontations between.... Read more »

Posted on : Friday , 31st July 2015

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