Market News Page No. 507| Africa Business News | Afrotrade

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Government plans to provide electricity to at least to 70 percent of Kenyans

DAVOS: The Government plans to provide electricity to at least to 70 percent of Kenyans in the next three years, Deputy President William Ruto has said. Speaking in Davos, Switzerland, Mr Ruto said the Government had engaged in the ambitious project including infrastructural development so as to spur economic growth. He said Kenya wanted to create an environment that will attract investment to the country and create employment. "Kenya is.... Read more »

Posted on : Wednesday , 28th January 2015

Kenya�s soft diplomatic power in sizzling geothermal energy

The formation of the scenic Rift Valley may have inadvertently handed Kenya a wild card. You can imagine the era when volcanoes erupted with pleasure and in abandon from Longonot to Menengai, from Paka to Silali. The chain is endless especially along the fault-lines of the rift. Yet, today, that phenomena that must have looked like an extract from hell, gives Kenya not only scenic landscapes; the very act of volcanism is supporting Kenya’s.... Read more »

Posted on : Wednesday , 28th January 2015

Kenya Power mulls outsourcing meter reading to increase revenue

Kenya Power plans to outsource the entire metering process as part of its strategy to enhance service delivery to customers and increase revenue. The national electricity distributor opines that by sub-contracting the exercise, it will be easier to get accurate power usage by customers and increase revenue. Managing Director Ben Chumo confirmed that the initiative is also aimed at eliminating corruption which for a long time has denied the.... Read more »

Posted on : Wednesday , 28th January 2015

Caterpillar expects tough 2015, restructuring anticipated

World’s leading manufacturer of construction and mining equipment Caterpillar has said it expects a tough 2015 as a result of the modest improvement anticipated globally as well as the continued weakness in commodity prices—particularly oil, copper, coal and iron ore as to which the company depends on for its sales. The company adds to undertake restructuring actions that will cost the company about.... Read more »

Posted on : Wednesday , 28th January 2015

East African markets top in sub-Sahara Africa

The sub-Saharan Africa market performance report, however, shows sub-Saharan Africa equity market performance was mixed, with Rwanda Securities Exchange declining by 4.5 per cent over the reporting period. The worst performers in local currency terms were Zimbabwe where the market lost 19.5 per cent and Nigeria which lost 16.1 per cent of its value in the year. In dollar terms, however, most markets had negative returns. Performers with.... Read more »

Posted on : Tuesday , 27th January 2015

Developing & Structuring Industrial and Infrastructure Projects in Africa

Developing industrial and infrastructure projects is not just a technical task, but involves a full range of elements to develop a sustainable business model. This business model takes into account ownership structure, communities, understanding requirements for funding, capacity, technology, financial models, environmental and market analysis, etc. Project developers, and their stakeholders, regularly find a heavier burden to bring all.... Read more »

Posted on : Tuesday , 27th January 2015

Tanzania plans to revive tyre maker

The government has once again expressed its commitment to reviving the Arusha-based General Tyre East African Limited (GTEA) factory before the end of this year. Janeth Mbene, the deputy Minister for Industry and Trade was last week here to brief on the government’s plans on reviving the tyre-making plant. “As government, we are interested to see the factory resumes operation as soon as possible. But, I.... Read more »

Posted on : Tuesday , 27th January 2015

Rise in royalties boosts state's mining revenue

Kenya's mining revenues stood at Sh600 million in the first half of the 2014/2015 financial year, boosted by royalties from increased mineral exploration, Cabinet secretary Najib Balala said yesterday. "We are hopeful that the Sh1.2 billion target for the current year will be achieved by end of this financial year," Balala said. According to the Economic Survey 2104, the total value of mineral output declined by 28.6.... Read more »

Posted on : Tuesday , 27th January 2015

Kenya among key emerging markets investment

The ranking takes note of the massive efforts being made in infrastructure development, the power sector and improving macro-economic stability. Commenting on the standing, the Cabinet Secretary for Industrialisation and Enterprise Development Adan Mohamed said there is growing confidence by global investors in the country. “The reducing cost of doing business and stable macro-economic environment continues to make a.... Read more »

Posted on : Tuesday , 27th January 2015

Barclays taps into growing Chinese investments in Kenya

The bank has singled out growing investments and opportunities for trade between Kenya and China as a key economic catalyst hence the need to tap into it. Bank of China and Barclays Bank have already established a Chinese Business Unit, and also unveiled a number of propositions designed to provide financial services for the Chinese enterprise. Speaking in Nairobi, during a dinner held to celebrate the Chinese New Year,.... Read more »

Posted on : Tuesday , 27th January 2015

TPDC: MTWARA GAS PIPELINE READY BY FEBRUARY

The Tanzania Petroleum Development Corporation (TPDC) has said the construction work of the natural gas pipeline will be completed by the end of this February. The completion of 542 km pipeline between Madimba –Mtwara and Dar es Salaam will save US $1 billion annually in heavy oil for electricity generation. Acting TPDC Managing Director James Andilile said the major construction works have been completed by 97 percent, and that the.... Read more »

Posted on : Tuesday , 27th January 2015

EAC - 2015 global economic prospect report

The World Bank says in its 2015 global economic prospect report that several low-income countries, including those in East Africa, may graduate to middle-income status on the back of substantial oil and gas discoveries. “East Africa, in particular, has emerged as a “new frontier” for oil and gas in the past half-decade…newly discovered oil reserves in Uganda and Kenya have the potential of coming on-stream by the end of.... Read more »

Posted on : Tuesday , 27th January 2015

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