Market News Page No. 567| Africa Business News | Afrotrade

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Dubai WoodShow renews 5-year partnership with European Federation of Woodworking Machinery Manufacturers (EUMABOIS)

Agreement with federation that produces more than 56% of the world's output of woodworking machinery will strengthen European presence in the show Dubai, UAE, February 2016: The Dubai WoodShow, the largest trade fair for wood products in the Middle East, has renewed its agreement with European Federation of Woodworking Machinery Manufacturers (EUMABOIS), a nonprofit Federation grouping 14 national Associations and 2 single members.... Read more »

Posted on : Monday , 15th February 2016

Competition for oil and gas production in Africa steps up

Many countries in Africa remain a beacon for investment in theoil and gas industry, with around 8% of the world’s untapped proven oil reserves on the continent, The continent’s share of global production dropped from 12% in 2013 to 10% in 2014, but competition remained “extremely tight”. In addition to multinationals, a rising number of national oilcompanies were moving in to also.... Read more »

Posted on : Tuesday , 19th August 2014

Tanzania Gas Gains at U.S.$3 Billion

Dar es Salaam — Tanzania value of export of gas which is a net of repatriate earnings is set to be $3 billion per annum over the period 2023 - 2050. This means in 27 years the value of gas exports will be $81 billion once the international oil companies start the actual extract of the natural resources. Tanzania estimates of gas reserves are frequently being updated. The reserves of natural gas in.... Read more »

Posted on : Tuesday , 19th August 2014

Kenya: Lake Turkana Wind Power signs financing agreements

After eight years in the pipeline, the 300MW Lake Turkana wind power project finally signed financing agreements worth €498m ($687m) on 24 March. The much-publicised project, described as the largest private investment in Kenyan history, has the support of a wide range of financiers, led by a revitalised African Development Bank (AfDB), but the time taken to reach financial close highlights the difficulty, even in private sector.... Read more »

Posted on : Tuesday , 19th August 2014

Tanzania lines up new private power projects

Irish-registered Kibo Mining is in the early stages of planning a 300-350MW mine-mouth plant at the Rukwa coal field in the Mbeya region. Chief executive Louis Coetzee told African Energy the proposed open-cast mine method and on-site development should keep generation costs low, with power then fed into the national grid to help tackle Tanzania’s growing power supply deficit. “It is impossible to deny the business opportunity.... Read more »

Posted on : Tuesday , 19th August 2014

Tanzania: Green power for rural south

A new investor consortium plans to develop a series of small-scale distributed renewable energy projects in the southern Morogoro region. Kastan Mining announced on 26 May that it had entered into a consortium with Indonesia-based Continental Energy Corporation, Pan African Management and Development Company (Panafra), a US-based infrastructure fund and asset manager, and local energy group, Kitonga Power Electric Company (Kepoco), to form.... Read more »

Posted on : Tuesday , 19th August 2014

Kenya Power thinks big on electricity access

Ministry of Energy and Petroleum cabinet secretary Davis Chirchir has said that negotiations with the African Development Bank (AfDB) for a KSh60bn ($680m) loan for a project to expand access to electricity from 32% to 70% over five years are at an advanced stage and should be completed by December. Disbursement of the first Sh12bn instalment is anticipated in this financial year. Speaking at a media briefing for transmission and.... Read more »

Posted on : Tuesday , 19th August 2014

Kenya: Milk Coolers for Pokot South Farmers

West Pokot County: Dairy farmers from Tapach and Sina areas in Pokot South Sub County have a reason to smile after the County government purchased two milk cooling plants to boost milk production. Addressing residents outside his office after flagging off the machines, West Pokot Governor Simon Kachapin said the project is aimed at improving dairy farming in the region. He said the County government has spent Sh.25 million to.... Read more »

Posted on : Tuesday , 19th August 2014

Tanzania: New Geothermal Firm Established

BLESSED with the potential to generate over 4,000 megawatts of electricity from geothermal sources, the government has formed a company to steer the country into effectively and beneficially tapping it. Operating as a subsidiary of Tanzania Electric Supply Company (Tanesco), the Tanzania Geothermal Development Company started operations in July this year, according to the Energy and Minerals Minister, Professor Sospeter.... Read more »

Posted on : Tuesday , 19th August 2014

Kenya: Railway Project to Employ 30,000 Kenyans

Nairobi — More than 2,400 Kenyans have already been hired for the construction of the Standard Gauge Railway (SGR). Assistant President of China Communications and Construction Company Wen Gang says they also intend to sub-contract about 40 percent of the project to local companies. At a meeting with President Uhuru Kenyatta at State House Nairobi on Monday, Wen said at its peak, the SGR project will employ more.... Read more »

Posted on : Tuesday , 19th August 2014

Kenya: What Kenya Has Lined Up in Race for U.S. Investments

Kenya is in a good position to wrestle a significant share of the billions of dollars promised during the recent US-Africa Summit in renewed investment plans as a major hub in East Africa. However, its neighbour Ethiopia and West Africa's Nigeria and Ghana are seen as Kenya's main competitors in drawing the investments from US companies and government. President Barrack Obama gave the clearest indication two weeks ago that the.... Read more »

Posted on : Tuesday , 19th August 2014

Kenya: Sh2.8 Million Banana Project for Ungunja Farmers

Farmers in Unguja will benefit from a Sh2.8 million programme that seeks to enhance production of bananas and sweet potatoes in the subcounty. Ugunja Community Resource Centre has initiated the programme. The centre's chief executive officer Aggrey Omondi said the programme will benefit 4,075 farmers. Omondi was speaking on Thursday at Savannah Hotel in Ugunja during the launch of the programme. He said the pilot project will.... Read more »

Posted on : Tuesday , 19th August 2014

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