N e w s

Tea prices at the Mombasa Auction have begun to show signs of recovery after a sharp drop experienced a year ago.

    Although the gains are marginal, the fact that the trend in price is upward should bring some consolation to Kenya’s over 560,000 smallholder farmers who suffered a major erosion in their earnings last year, following a sharp price drop in the global price of the commodity.   In the last two months, tea prices at the Mombasa Tea Auction have increased from Sh181 ($2.02) – in the first week of January – to.... Read more »

Posted on : Tuesday , 10th March 2015

Sh180m set aside to boost cattle breeds in Kenya

 ELDORET: Livestock breeding will receive a boost after the government set aside over Sh180 million to establish three liquid nitrogen plants in the country. Agriculture Cabinet Secretary Felix Koskei while commissioning one of the plants in Eldoret, said they are vital in preservation and transportation of high quality semen for cattle breeding.   “Animal breeds improvement through Artificial Insemination is among the.... Read more »

Posted on : Tuesday , 10th March 2015

Comesa extends import safeguards for Kenya

 NAIROBI: Local sugar millers will continue enjoying protection against competition from other producers in the Common Market for Eastern and Southern Africa ( Comesa) for the next one year.   This follows a decision by the Comesa Trade and Customs Committee to grant Kenya another 12-month extension as it seeks to privatise State-owned sugar factories. This is the fourth time Kenya has been granted an extension from the regional bloc.... Read more »

Posted on : Tuesday , 10th March 2015

Kigoda lauds Indo- Tanzanian trade ties

    The Minister for Industry and Trade, Dr Abdallah Kigoda, has hailed the growing trade relations between Tanzania and India and called on entrepreneurs to grab the opportunities availed for more growth and development. The minister was speaking at a one day conference on ‘Enhancing Efficiency and Maximising Output of Tanzania Economy: An Indian Initiative,’ in Dar es Salaam at the weekend.   The minister called.... Read more »

Posted on : Tuesday , 10th March 2015

EAC partner states urged to co-operate in developing region’s nascent oil, gas sector

    NAIROBI: East African Community ( EAC) countries have been asked to co-operate in the development of the region’s nascent oil and gas sector.Rwandan Prime Minister Anastase Murekezi said co-operation between the Partner States was the surest way to develop the region’s enormous energy and natural resources. He said collaboration should focus on petroleum exploration, production, refining, storage and pipeline.... Read more »

Posted on : Tuesday , 10th March 2015

KenGen seeks regulators’ nod to float bond

 State power generator KenGen is looking at floating asset-backed securities to finance more than Sh80 billion in energy infrastructure over the next two years KenGen, which has already pegged its Sh30 billion Rights Issue for the second quarter of this year needs Sh118 billion to finance its infrastructure development.   The firm is in talks with regulators to use asset backed securities to plug the difference. “We are.... Read more »

Posted on : Tuesday , 10th March 2015

Oil and gas: Why Rwandan and regional companies could miss out on oil dollars

The East African region is now a well-known hydro carbon hotspot and as a result foreign investors are flocking in to take advantage of this business opportunity. However, there is need to put in place strategies that will enhance transparency and accountability, as well as ensure regional firms benefit from opportunities presented by the activities in the oil and gas sector, commented a participant at the just-ended seventh petroleum regional.... Read more »

Posted on : Tuesday , 10th March 2015

USAID funds coffee policy

 Efforts to implement the national coffee policy got ‘a shot in the arm’ after the United States Agency for International Development (USAID) earmarked about sh1.3b to promote development in the coffee sector. The policy is expected to rejuvenate Uganda’s coffee sector This funding is channelled through the National Union of Coffee Agri-businesses and Farm Enterprises (NUCAFE), a local entity, that is taking on the task.... Read more »

Posted on : Thursday , 5th March 2015

Strandline Resources has confirmed discovery of a huge potential of heavy mineral sands (HMS) at the six kilometres long Madimba Prospect in the country.

 Strandline Resources Limited is an Australian mineral exploration and development company based in Perth and listed on the Perth Stock Exchange since 2000.   HMS are a class of ore deposit which is an important source of zirconium, titanium, thorium, tungsten, rare earth elements, industrial diamond, sapphire, garnet, and occasionally precious metals or gemstones.   In Tanzania, Strandline Resources Limited, currently.... Read more »

Posted on : Thursday , 5th March 2015

Tanzania: Rural electrification remains govt priority

 This was said in Dar es Salaam by the Principal Energy Officer, Mr Paul Kiwele, who represented Deputy Permanent Secretary in the Ministry of Energy and Minerals, at the launch of Rex Solar Energy’s 3G Solar Home System.   “The improved energy supply in the rural areas through public and private sector participation, will contribute significantly in improvement of livelihoods of rural populations and attainment of.... Read more »

Posted on : Thursday , 5th March 2015

Construction of US$ 2bn coal power plant in Lamu, Kenya to commence in October

 Construction of a multimillion coal power plant in Lamu, Kenya is set to commence in October this year, Amu Power Company has confirmed.   Amu Power, a company formed by a consortium of Centum and Gulf Energy, expressed their gratitude to the Kenyan Government for awarding them the tender, and further said that at least 870 acres of land are needed for the development of the 981.5 Megawatts coal project.   Gulf Energy.... Read more »

Posted on : Thursday , 5th March 2015

Kenya needs US$2.2b yearly to develop infrastructure

    Kenya requires approximately US$ 2.2billion to fill infrastructural development financing deficits, Johannes Zutt, World Bank Country Director for Kenya has said.   The country spends about US$ 1.6 billion a year as opposed to US$ 4billion sustainable expenditure required over the next decade. This represents about 20 percent of its Gross Domestic product. This is according to the Africa Infrastructure County Diagnostic.... Read more »

Posted on : Thursday , 5th March 2015



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