Market News Page No. 478| Africa Business News | Afrotrade

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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

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. Tanzania-stamigoldThe announcement was done at an event headed by Stamigold General Manager, Eng. Dennis Sebugwao in Dar es.... Read more »

Posted on : Saturday , 25th July 2015

Tanzania to ink local content gas policy

The government of Tanzania through its Ministry of Energy and Minerals has assured oil and gas stakeholders especially those engaged in Small and Medium Enterprises (SMEs) that the Local Content Policy (LCP) is in its final stages before being implemented. Neema Lugangira Apson, a Senior Supplies Officer in the ministry responsible for Local Content (LC) said in Dar es Salaam last week that once the merging of the National Energy Policy.... Read more »

Posted on : Friday , 24th July 2015

Africa: Tawana Resources discovers minning opportunities & expansion

Mining company Tawana Resources has discovered a new high-grade Direct Shipping Ore (DSO) hematite mineralisation in Monrovia, Liberia The newly-discovered DSO mineralisation contains around 62.8 per cent to 66 per cent iron, stated company officials. Aside from the high-grade DSO, Tawana Resources has also discovered a strike of friable itabirite mineralisation in the Goehn prospect, part of its ongoing low-cost.... Read more »

Posted on : Friday , 24th July 2015

Tanzania set to become 'logistics hub' for LNG industry

PricewaterhouseCoopers (PwC) has said that ongoing infrastructure work in Tanzania will see the country become a hub within the global LNG industry A report by the professional services firm said Tanzania could become a leading exporter of liquefied natural gas by 2025, supplying markets such as Pakistan, Spain, Chile and China. With transport and utilities infrastructure projects worth US$19bn already in the pipeline,.... Read more »

Posted on : Friday , 24th July 2015

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