Market News Page No. 535| Africa Business News | Afrotrade

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Tanzania's LNG Plant Could Take Seven Years to be Ready

Tanzania’s proposed LNG project could take about seven years to complete, an official from Statoil was quoted as saying last week. According to Statoil’s Tanzania operations manager if all goes as planned, the plant will commence operations between 2022 or 2023, reported Tanzania Daily News on Saturday. "We estimate the project will take seven years upon its completion. We have to make soil studies to.... Read more »

Posted on : Thursday , 4th December 2014

Explore the vast emerging industrial investment opportunities of East Africa

The 17th edition of INDUSMACH 2015 is taking place from 7th-9th May 2015 at KICC,Nairobi Kenya and 23rd-25th May 2015 at MCC, Dar-Es-Salaam, Tanzania. Exhibitors from over 20 countries participating at Kenya's Biggest International Trade Exhibition. Africa’s largest Industrial International Trade fair INDUSMACH plays a significant role as a key trading event and as a source of inspiration for future technology trends. The show.... Read more »

Posted on : Wednesday , 3rd December 2014

Exporters targeting the hub of East Africa at Prime building events

AFRICA’S MOST DYNAMIC BUILDING & CONSTRUCTION EXHIBITIONS The 18th Edition of BUILDEXPO is all set to bring to you the latest products, equipment and machinery to the East African market. BUILDEXPO is Africa’s premier and most trusted Building & Construction trade show. The 18th BUILDEXPO AFRICA 2015 will provide a platform for highly evolved global manufacturers & exporters from all over the world to enter into the .... Read more »

Posted on : Wednesday , 3rd December 2014

China Firm Shows Interest in Tanzania Industry

THE Aviation Industry Corporation of China (AVIC) has expressed its intention to cooperation with Air Tanzania Company Limited (ATCL) and restore the firm's lost glory. In May, this year, China's Prime Minister Li Keqiang, when delivering a speech at the African Union headquarter, said his government was keen to implement China-Africa regional aviation cooperation programme. He said the Beijing government would support Chinese.... Read more »

Posted on : Wednesday , 3rd December 2014

Feasibility study for Kenya-Uganda oil pipeline to take 5 months

The Principal Secretary to the Energy and Petroleum Ministry Joseph Njoroge has said that feasibility study for the Kenya – Uganda oil pipeline will be expected by mid-April next year. The contract will be undertaken by Toyota Tsusho, a Japanese carmaker, which won the tender last month. The pipeline will run from Lamu-Kenya to Hoima-Uganda, passing through the Lokichar basin. The company is also expected to come up with the.... Read more »

Posted on : Wednesday , 3rd December 2014

East Africa: EAC Endorses Investment Blueprint

A proposed 10-year investment strategy for priority infrastructure projects in the East Africa Community to tackle the existing gaps received backing during the just-concluded EAC Heads of State Retreat on infrastructure development and financing. The summit, convened over the weekend in Nairobi, Kenya, endorsed the blueprint and directed the Council (of Ministers) to mobilise resources for implementation. Held under the theme,.... Read more »

Posted on : Wednesday , 3rd December 2014

Africa Set On Boosting Investments With China

President Jacob Zuma has arrived in China where he is leading a delegation of ministers and businesspeople on a State visit aimed at strengthening bilateral relations, the Presidency said on Tuesday. The two-day visit, scheduled for Thursday and Friday, signals a further consolidation of South African-Sino relations. This is President Zuma's second State visit to China. In 2010, he took 17 Ministers and about 300 businesspeople and.... Read more »

Posted on : Wednesday , 3rd December 2014

Schlumberger reduces seismic fleet as deepwater exploration spending falls

The world’s largest oilfield services company Schlumberger has announced it will be reducing its WesternGeco fleet as lower commodity prices lead to short-term cost cutting measures by exploration companies. According to the company’s President of operations and integration Patrick Schorn Schlumberger will be restructuring WesternGeco marine seismic fleet by retiring older vessels with low towing capacity and high.... Read more »

Posted on : Wednesday , 3rd December 2014

Atlas Development secures first contract in Mozambique

African focused support services and Logistics Company Atlas Development & Support Services Limited has announced that, in line with its expansion strategy for East Africa, it has been awarded its first support services contract in Mozambique. The agreement, with an international oil company, underlines Atlas Development’s increasing penetration into the oil & gas support services market and its growing reputation with.... Read more »

Posted on : Wednesday , 3rd December 2014

Swala Energy hints possible Farm-in in Eastern Africa

Swala Energy has announced that it is in farm-in conversations in Eastern Africa as the company seeks ways of raising alternative funding transactions. This follows the withdrawal of a share purchase plan by the company’s board as the company aims at raising $5 million to finance its drilling obligations ahead of the planned in 2015. Swala which has already suspended its shares from trading since 24th November says.... Read more »

Posted on : Tuesday , 2nd December 2014

Boost to African Manufacturing Industries to Build Stronger Economy

The Government wants the manufacturing industry to have a greater weight in the national economy, at a time the country needs to diversify its economy still heavily dependent on the oil sector. This was said Wednesday in Luanda by the minister of Industry, Bernarda Gonçalves. The minister was speaking at a press conference, saying that the National Development Programme and the Angola Industrialisation Programme make provision for.... Read more »

Posted on : Tuesday , 2nd December 2014

African Trade & development receive $320 million

A variety of lenders are designated mandated lead arrangers including several African banks: Rand Merchant Bank, Bank du Caire and Nedbank. Admassu Tadesse, the PTA Bank President said, “We are grateful to our correspondent banking partners for their increased African appetite and their confidence in PTA Bank as it continues to grow, modernise and vigorously pursue our vision of being a world class specialised African financial.... Read more »

Posted on : Tuesday , 2nd December 2014

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