Market News Page No. 474| Africa Business News

GE to supply equipment for 100MW wind farm in Kenya

GE Africa announced that it is partnering with Kipeto Energy Limited to build a new 100MW wind farm in Kenya’s Kajiado County GE will be the sole supplier of equipment for the 100MW project located about 50 km from Nairobi. The Kipeto project, announced during US President Barack Obama’s visit to Kenya, is expected to make a significant contribution to the installed energy capacity in the country where up to 80 per.... Read more »

Posted on : Wednesday , 29th July 2015

Tanzania to Start Tests On 542km Long New Mtwara-Dar Gas Pipeline

The Tanzania Petroleum Development Corporation (TPDC) will on July 29 start trial tests on a new 542-kilometre long pipeline from Mtwara to Dar es Salaam for between 40 and 60 days. The pipeline is expected to deliver higher volumes of natural gas for power generation and other applications. Exploration firms have discovered about 55.1 trillion cubic feet of natural gas in offshore and onshore southern.... Read more »

Posted on : Wednesday , 29th July 2015

Kenya, U.S. Sign Key Transport Deal

Kenya and the US have signed a deal that would lead to the development of strategic infrastructure projects. The memorandum of understanding covers projects related to the Lamu Port South Sudan- Ethiopia Transport (Lapsset) corridor. During the signing ceremony on Friday, Cabinet Secretary for Foreign Affairs and International Trade Amina Mohamed said the deal would include "the development of a transport corridor.... Read more »

Posted on : Wednesday , 29th July 2015

Avic International Kenya to construct $200mn office complex

Chinese partnership with Kenya has energized a Chinese based global manufacture AVIC International Holding Corporation which is set to construct a $200mn office complex in Nairobi Kenya which is expected to be its African Headquarters. The offices suites that will be located in Westlands in Nairobi got a major boost after the city council of Nairobi gave Avic International Kenya a go ahead to bring up the building in the.... Read more »

Posted on : Wednesday , 29th July 2015

SkyPower signs a US$ 2.2bn deal for development of solar power in Kenya

An American company, SkyPower which is one of the largest developers and operators of utility-scale solar photovoltaic (PV) energy projects has signed a US$ 2.2bn deal with the Kenyan Ministry of Energy that will see the development of solar power in Kenya. The agreement with SkyPower was signed during the sixth Global Entrepreneurship Summit that ended on 26th July, 2015 at Gigiri, Nairobi. Kerry Adler, the SkyPower.... Read more »

Posted on : Tuesday , 28th July 2015

APR Energy expands power generation in Africa

Power solutions firm APR Energy has expanded its interim generation capacity for Societe Nationale d'Électricite du Senegal (Senelec), Senegal’s national electric utility The requirements include installation and operation of an additional 48MW of mobile diesel-powered generation, including assets being redeployed from Libya, to supplement an existing 20MW block of power at its Kounoune site. The contract term for the.... Read more »

Posted on : Tuesday , 28th July 2015

European Union keen to invest US$165mn in Africa�s power sector

The European Union (EU) has revealed plans to invest US$165mn in Nigeria’s power sector, in a bid to improve access to electricity in the country According to an EU representative Peter Cameron, the organisation is keen on investing in the West African nation’s energy sector by identifying problems within the sector as well as shortlisting potential projects that could help increase access to electricity. Specifically,.... Read more »

Posted on : Monday , 27th July 2015

US$350million oil pipeline in Kenya from Mombasa to Nairobi

Kenya Pipeline Company has secured a $350million loan to invest in the construction of a new 450-kilometre oil pipeline in Kenya from Mombasa to Nairobi. The state owned oil dispenser will move ahead to a 20 inch contemporary multi-product oil pipeline in Kenya to reinstate the more than 30 year old – 14 inch pipeline currently in use. For the duration of the signing of the loan with a group of six banks, KPC acting managing.... Read more »

Posted on : Monday , 27th July 2015

Tanzania Stamigold Reaches USD 15 Million In Gold Exports In Its First Year

Stamigold Company Limited, subsidiary of Tanzania’s State Mining Corporation (STAMICO), announced that it has sold in international markets 12,923 ounces of gold worth USD 15 million, as a result of its first year’s operations at Biharamulo Gold Mine Project located in Kagera Region, Northwest of Tanzania. The announcement was done at an event headed by Stamigold General Manager, Eng. Dennis Sebugwao in Dar es Salaam,.... Read more »

Posted on : Saturday , 25th July 2015

Uganda car dealers peg prices to US dollar as shilling woes continue

Big car dealerships like CMC Motors, Toyota Uganda, Nissan, Spear Motors and Tata all peg their rates to the dollar. Mark Kass, the CMC Motors chief executive officer, said this week the decision to quote car prices in dollars was influenced by the high depreciation rate of regional currencies. “East Africa’s currencies are depreciating at around two and half per cent every 10 years. For this reason, all our.... Read more »

Posted on : Saturday , 25th July 2015

Honda Motor Company begins car manufacturing in Africa

Japan’s Honda Motor Company has begun manufacturing cars in Nigeria, said the new chief executive Takachiro Hachigo According to Hachigo, a part of Honda’s motorcycle factory in Nigeria has been retooled to manufacture Accord Sedans. The company plans to make 1,000 cars annually and hopes to increase production if the local market is responsive to the new car. The Japanese car maker is one among many others to.... Read more »

Posted on : Saturday , 25th July 2015

Africa: Technology, innovation and infrastructure development

Continuous growth on the African continent has brought with it a growing need for infrastructure development to meet the requirements of the growing population. With that said innovation in the construction industry is at the core of development on the continent. Toby Shapshak, who will be a Keynote speaker at the African Construction and Totally Concrete Expo 2015, in his TED Global address in 2013 said, “Innovation in.... Read more »

Posted on : Saturday , 25th July 2015