Market News Page No. 478| Africa Business News

Caterpillar�s new improved series launched for the Arican market

Caterpillar has introduced the new F2-series range of machines – 422F2, 428F2, 432F2, 434F2 and 444F2 for the Middle East and Africa markets Depending on the model, engine-power choices include 56.5 kW (76.8 hp), 68.5 kW (93hp), 70 kW (95 hp), or 74.5 kW (101 hp) configurations. There’s a marked improvement in hydraulic oil flow – 422F2 from 125 litres per minute to 132 l/min, 428F2 and 434F2 from 125 l/min to 160 l/min.... Read more »

Posted on : Saturday , 22nd August 2015

Dangote Cement : Yet another cement plant expansion in Africa

Nigerian businessman Aliko Dangote has announced plans to expand his company’s 1.5mn metric tonnes per annum (mmtpa) cement operations in Cameroon In a meeting with Cameroon’s Prime Minister Philemon Yang, Dangote revealed that Dangote Cement is commissioning another cement production line in Yaounde, which will increase the company’s total cement output to more than three mmtpa. Dangote Group will invest about.... Read more »

Posted on : Saturday , 22nd August 2015

Portuguese firm Cimpor to expand presence in Africa

Cimentos de Moçambique, a subsidiary of Portuguese cement producer Cimpor, has announced plans to invest US$250mn in a new integrated cement plant in Nacala, Mozambique The new facility is expected to start functioning from 2018. A statement issued by the company said, “The new capacity to be installed increases the efficiency of the response to local demand for cement, while Cimentos de Moçambique recognises its role.... Read more »

Posted on : Saturday , 22nd August 2015

Oil Exploration; Major firms ignore Uganda, rush for Mozambican oil fields

Mozambique announced closure of the Fifth Licensing round of 15 blocks with hydrocarbon potential in the offshore areas of Rovuma, Zambezi and Angoche, and the onshore areas of Pande-Temane and Palmeira on July 30, 2015. Following a call for applicants that commenced in October 2014, the nation emerged from the Request for application process with seven successful applicants, from which, ‘Majors; Shell, ENI, TOTAL, Russian.... Read more »

Posted on : Saturday , 22nd August 2015

First Gas Delivery To The New Transnational Pipeline Commence In Tanzania

Wentworth Resources has announced that gas deliveries have now commenced to the new transnational pipeline from the the Mnazi Bay joint venture in Tanzania. Currently two wells are now producing and the remaining three wells will be put on production in the coming months according to the company. “We are very pleased to announce that production from Mnazi Bay has now commenced and the Mnazi Bay joint venture is the.... Read more »

Posted on : Friday , 21st August 2015

Ghana looks to nuclear to solve energy deficit

Ghana has taken an important step on the road to achieving nuclear power, passing the Ghana Nuclear Regulatory Bill The bill, which is currently awaiting presidential assent before being officially signed into law, details the establishment of a regulatory authority to ensure the safe and responsible use of nuclear materials. A number of relevant international conventions were also ratified by the legislation, including the.... Read more »

Posted on : Friday , 21st August 2015

Uganda power company invests in smart meters

Uganda's retail power distributor Umeme Power Company is reported to be investing US$24mn in automated meter-reading technology that uses smart meters to help it curb energy losses among large commercial consumers A smart meter records consumption of electric energy, relaying that information back to the company for monitoring and billing. It also allows for two-way communication between customers and the utility provider's server. The.... Read more »

Posted on : Friday , 21st August 2015

Ford to begin assembly of Ranger pickup trucks in Nigeria

Ford Motor Company has announced that it will begin assembly of the Ford Ranger pickup truck in Nigeria from Q4 2015 as part of its expansion plans for the Middle East and Africa The pickup will be assembled in Ikeja, situated in Lagos State. For the project, Ford is partnering with its dealer group Coscharis Motors, stated the company. Ford Middle East and Africa president Jim Benintende said, “Assembling Ford Ranger trucks in.... Read more »

Posted on : Friday , 21st August 2015

SkyPower commences construction of solar power plants in Kenya

Construction of solar power planta in Kenya will soon commence after an agreement was signed by SkyPower that will see the development of 1GW in four phases over the next five years. The SkyPower president and CEO, Kerry Adlr said that Kenya has become an African hub for modernization and entrepreneurship. This fact saw SkyPower sign a $2.2bn investment for Kenya to develop the project. It was announced on the sidelines of the.... Read more »

Posted on : Thursday , 20th August 2015

Construction of Akiira geothermal plant in Kenya boosts Kenya Power

The construction of Akiira Geothermal plant in Kenya has boosted power supply in Kenya after the firm signed a 70MW power deal with Kenya Power that will boost the chances of attaining the 5,000MW goal set by the Kenyan Government. The 70megawatt power purchase agreement (PPA) between the two companies will last for 25 years and will see Kenya Power buy electricity from Akiira at Sh9.3 per unit (9.23 US cents), which is about.... Read more »

Posted on : Thursday , 20th August 2015

Construction of first cancer hospital in Kenya begins

The construction of first cancer hospital in Kenya is set to begin following a groundbreaking ceremony by the first lady, Mrs. Margaret Kenyatta. The hospital is a partnership between local entrepreneurs and General Electric Company. The construction of the state-of-the-art treatment centre at Ridgeways in Kiambu County will cost US$ 20m and will cater for close to 10,000 cancer patients. Dabbed Tesla Cancer Hospital, the.... Read more »

Posted on : Wednesday , 19th August 2015

Muzizi hydro-power to be constructed in Uganda

The Ugandan and two companies from Germany and France has signed a US$ 76m agreement that will see the construction of the Muzizi hydro-power project come to birth and help in providing power to more than 60,000 homes. Germany Development Bank (KfW) and the French Development Agency are the two other companies that are financing the construction of Muzizi hydro-power project. Under the mutual reliance initiative, KfW will.... Read more »

Posted on : Wednesday , 19th August 2015