Market News Page No. 249| Africa Business News | Afrotrade

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Rwanda, Netherlands Ink Infrastructure Development Deal Worth �30 Million

The Government and the Kingdom of Netherlands, yesterday, signed a financing agreement, worth Euro30 million (about Rwf26 billion), to support basic infrastructure development in districts. The grant will help create an enabling environment for food security and local economic development, and contribute to the achievement of national targets in poverty reduction and economic development. It is also in line with the long-term.... Read more »

Posted on : Wednesday , 30th November 2016

Kenya: Othaya Hospital Construction to Be Completed by May - President Kenyatta

Construction of the new Othaya Level Four Hospital block will be completed by May next year, President Uhuru Kenyatta has assured. Addressing residents in Othaya town after inspecting the new hospital building, President Kenyatta said the Government has set aside Ksh 300 million to facilitate completion of the project. The President also directed Principal Secretaries for Housing and Urban Development, and for Health to visit.... Read more »

Posted on : Wednesday , 30th November 2016

Kenya: Sh70B Wind Energy Project to Bring Down Power Costs

NAIROBI, KENYA: Kenya’s quest for cheaper power is beckoning with Sh70 billion Lake Turkana Wind Power (LTWP) project expected in the second quarter of 2016. Speaking during the Power in East Africa Summit, Phylip Leferink, and General Manager of the project said he is happy with the progress in the transportation of turbines to the site from the port of Mombasa and by between May and June the firm will be ready to add more power.... Read more »

Posted on : Wednesday , 30th November 2016

Rwanda: Alternate Energy Forms 2% of Power Generation

With plans that are aimed at increasing access to electricity in households to 70% by 2020, from the current 25%, Rwanda is advised to also appreciate off-grid power. In East Africa, the director of primary and social energy development at Rwanda Energy Group (REG), Morris Kayitare, stated that alternative power such as solar home systems and mini-grids play a key role in meeting the country’s target. According to local.... Read more »

Posted on : Wednesday , 30th November 2016

Tanzania, Zambia to Negotiate Joint Oil & Gas Pipeline

Tanzania and Zambia are to negotiate a new deal for transport of refined oil and natural gas. The talks will centre around either modernising the existing 1,710km Tazama pipeline, which transports crude oil from the Dar es Salaam port to Zambia, or building a parallel pipeline for gas. Tanzania’s Minister for Foreign Affairs, East African Regional and International Co-operation Augustine Mahiga said the project will be at the top.... Read more »

Posted on : Tuesday , 29th November 2016

Chinese Assisting with Advanced Agricultural Technology in Ethiopia

Chinese instructors working in various Agricultural Technical and Vocational Education Training (ATVET) colleges in Ethiopia are assisting the advancement of skills in agricultural technology, Coordinator of the Chinese ATVET Project in Ethiopia said. Coordinator Dr. Li Roggang told ENA that the Chinese instructors specialized in veterinary, agriculture mechanization, plant science and natural resource fields are providing practical.... Read more »

Posted on : Tuesday , 29th November 2016

Rwanda: New Peat Power Project to Boost Power Generation Capacity By 40%

Rwanda's efforts to increase power access to 70 per cent of all households in 2018 have been boosted by the signing of a $350 million (about Rwf291.6 billion) financing deal between lenders and YUMN Limited to develop an 80MW peat-fired power plant. The project in Mamba Sector, Gisagara District will be funded by the Africa Finance Corporation, Finnfund, PTA Bank, Afrexim Bank, Development Bank of Rwanda, and Exim Bank of.... Read more »

Posted on : Tuesday , 29th November 2016

Tanzania: Shell to Invest U.S.$80 Million with Partners for Gas Drilling

Royal Dutch Shell and its partners -- Pavilion Energy and Ophir Energy -- have announced commencement of gas drilling off the coast of Tanzania in a $80 million investment project. The drilling will cover two wells in Block 1 and 4, located in the offshore Mafia deep basin and with each depths of up to 2,800 metres. "In the current investment climate, there is a need to have strong project fundamentals, including.... Read more »

Posted on : Tuesday , 29th November 2016

East Africa: Uganda President Pushes for Ban On Importation of Vehicles

Kampala — East African Community (EAC) member states are spearheading a proposal to ban the importation of cars from outside countries. President Museveni disclosed yesterday that they are in final stages with other East African states to ensure that no cars are imported into the region, but their spare parts, which will be assembled here to create jobs for East Africans. However, he warned that this can only be possible.... Read more »

Posted on : Tuesday , 29th November 2016

CHINA�S KEEN INTEREST IN THE AFRICAN AUTOMOTIVE MARKET

The global automotive business is in its most disruptive era since the advent of the industry over a century ago, creating an abundance of opportunities for new and established companies in the global automotive market. Analysts anticipate the market to grow by 2%, reaching 91 million new units sold in 2016. The African economy has seen steady growth for the past decade and even with sustained low oil and commodity prices, the automotive.... Read more »

Posted on : Monday , 28th November 2016

Ethiopia plans to harness 5,000 MW of geothermal energy

Ministry of Mines, Petrol and Natural Gas has made public Ethiopia’s plan to harness 5,000 Mega Watts (MW) of geothermal energy by 2037. The newly appointed Minister of the mnistry, Motuma Mekassa, said that Ethiopia is intensively working to developing renewable energy sources like geothermal energy and expand its partnership with other African countries while addressing the opening of the 6th African Rift Geothermal.... Read more »

Posted on : Friday , 25th November 2016

China eyes East Cape for future investment

Vice-president describes Coega IDZ as one of the best developments in Africa China’s Vice-President, Dr Li Yuanchao, completed a whirlwind tour of two Nelson Mandela Bay manufacturing facilities yesterday, ahead of Bi-National Commission talks with the government in Cape Town today. The visit to what Li called “the Golden Coast” signals growing Chinese interest and potential for increased investment and.... Read more »

Posted on : Friday , 25th November 2016

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