Market News Page No. 487| Africa Business News | Afrotrade

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Kenya: Self-sufficient in terms of electricity generation

Kenya electricity generation has received a boost after more than 280MW was added to the national grid last year, Kenya became self-sufficient in terms of power generation. “Kenya is now self-sufficient in terms of power generation after more than 280 MW was added to the grid last year from various geothermal projects,” said Kenya Power chief executive Ben Chumo. The ongoing geothermal projects have added so.... Read more »

Posted on : Thursday , 2nd July 2015

Africa: Damietta furniture manufacturing hub to be constructed

Africa's Trade and Industry ministry is set to construct a world class furniture manufacturing city in Damietta which is located towards the Mediterranean Sea. According to Egypt’s minister for trade & industry Mounir Fakhry Abdel Nour the project which is located 15km from the Mediterranean Sea, and 200km north of Cairo will span an area of 1.4sqm (331 feddan; 1 feddan = 0.42ha), and that the ministry is working to ensure speedy.... Read more »

Posted on : Thursday , 2nd July 2015

Kenya: City Hall to Raise Sh500 Billion for Urban Renewal Project

Nairobi - Nairobi County Government is seeking to raise about Sh530 billion through a Public Private Partnership (PPP) to undertake its urban regeneration and renewal projects within the city. Speaking during an investors briefing on Wednesday morning, Governor Evans Kidero indicated that the project will consist of three phases which will involve the redevelopment of old housing estates in sections of the city into apartment buildings,.... Read more »

Posted on : Thursday , 2nd July 2015

African states sign cyber-security deal

Uganda, Kenya and South Sudan are among several African states to have signed a new deal on cyber security to protect multi-million-dollar oil and transport projects. Presidents Yoweri Museveni of Uganda, Paul Kagame of Rwanda and Uhuru Kenyatta of Kenya signed a memorandum of understanding on cyber security at the 10th Northern Corridor Integration Summit in the Ugandan capital, Kampala, on Saturday. South Sudanese leader Salva Kiir and.... Read more »

Posted on : Thursday , 2nd July 2015

Africa Automotive Sensors Market grows

DUBLIN - The Middle East & Africa automotive sensors market is expected to increase to $1.45 billion by 2018 at a CAGR of 6.08% over the period 2014-2020 The low cost & compact size, ecofriendly & bulk manufacturing capability, and energy efficient are the key drivers which are making the automotive sensors market to grow lucratively. Development of new applications for technologies which utilize nano and micro technology will.... Read more »

Posted on : Thursday , 2nd July 2015

UAE Based Oil Firm Consolidates East African Presence with Acquisition of Essar Petroleum East Africa Ltd

Gulf Petrochem Group rename entity to Aspam Energy (Kenya) Ltd NAIROBI, Kenya, July 1, 2015/ -- Gulf Petrochem Group (today announces the official acquisition and name change of Essar Petroleum East Africa Ltd to ASPAM Energy (Kenya) Ltd. The deal will enhance the group’s integrated services and products for the downstream supply chain in the oil and gas sector in East Africa. Gulf Petrochem Group secured.... Read more »

Posted on : Thursday , 2nd July 2015

Tanzania hailed leader in FDI due to its natural gas reserves

The East African nation has registered an increase of 14.5 per cent in FDI, mainly due to the presence of large natural gas reserves, stated a United Nations report Africa has been earmarked as a popular investment destination, with a host of sectors such as manufacturing, transport, renewables and mining considered popular for foreign direct investments (FDI). However, a report presented by the United Nations Conference on Trade and.... Read more »

Posted on : Thursday , 2nd July 2015

TULLOW OIL, AFRICA OIL REPORT POSITIVE RESULTS FROM KENYA�S APPRAISAL DRILLING, WELL TESTING

In the latest update by Block 10BB and 13T joint venture partners Tullow Oil and Africa Oil appraisal drilling and Extended Well Tests (EWT) continue to produce positive results. The Amosing EWT which commenced in May testing five reservoir zones in the field across two wells, in one well the production was tested while pressure responses were measured in the other well. Production from all five zones was at a combined average.... Read more »

Posted on : Thursday , 2nd July 2015

Tanzania Gets USD 268 Million To Extend Lake Victoria Water Pipeline

On 19th June 2015, the Export-Import Bank of India (Exim) and the Ministry of Finance of Tanzania signed an agreement to extend additional line of credit (LOC) of USD 268 million to the Government of Tanzania, for financing the extension of Lake Victoria water pipeline to Tabora, Igunga, and Nzega. Lake-Victoria-Water-Pipeline-exim-tanzaniaMr. Yaduvendra Mathur, Chairman and Managing Director of Exim India and Ms. Dorothy Stanley Mwanyika,.... Read more »

Posted on : Thursday , 2nd July 2015

Africa: Platinum mining company to invest U.S $131 Million

Africa's largest platinum mining company, Zimplats, is building a $131 million base metal refinery at its Selous base, a senior official said Friday. Acting chief executive, Stanley Segula, told parliamentarians visiting the company that $20 million has so far been invested in the project which is expected to create significant new employment opportunities for Mashonaland West province. According to the senior officials, the.... Read more »

Posted on : Wednesday , 1st July 2015

Construction of Africa's $92m water projects completed

Egyptian government has completed the construction of $92 Million drinking water project across the country. The housing minister said they have completed the 83 drinking water and sanitation projects, along with 112 sanitation projects in various villages across the country. The minister in charge of Housing Mostafa Madbouly added that the Construction Authority for Potable Water and Wastewater which was awarded the contract to carry.... Read more »

Posted on : Wednesday , 1st July 2015

Maurel & Prom Gets Good Result from Tanzania Gas Well

Maurel & Prom has encountered positive results from its latest well at the Mnazi Bay gas field inTanzania. The MB-4 development well, drilled 800 m from the MB-2 and MB-3 wells at the Mnazi Bay gas field, has crossed Miocene gas reservoirs with net pay of 24 metres (Upper Mnazi Bay) and 43 metres (Lower Mnazi Bay) respectively, both ranked among the best of the five wells drilled at this field so far, the company.... Read more »

Posted on : Wednesday , 1st July 2015

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