Market News Page No. 392| Africa Business News | Afrotrade

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Solar Energy Lights the Way in Tanzania

The dusty village of Melela Mlandizi stands 45 kilometres outside of regional hub Morogoro, Tanzania. Far from city infrastructure, its 200 inhabitants would be forgotten but for the installation of a solar power system, harnessing the hot sun that beats down overhead. It's what lights their homes off the city grid. Instead of using dangerous kerosene to light their homes, residents use solar energy, usually in the form of three.... Read more »

Posted on : Wednesday , 11th November 2015

Construction of hydropower plants in Rwanda gets financial support

Afritech Energy (AE) and East African Power have signed a US$ 40m agreement that will see the construction of four hydropower plants in Rwanda. The agreement will involve construction of four hydropower sites in Bihongora, Karambo II, Gatare Sebeya and Muregeya. Other two projects will be in Rustiro and two more in Rubavu. Executive Chairman of Afritech Dan Klinck was present in Kigali during the press conference and said that although the.... Read more »

Posted on : Wednesday , 11th November 2015

Nyagak III Small Hydro Power Project in Uganda to be constructed

The construction of Nyagak III Small Hydro Power Project in Uganda is set to commence soon, this is after the Ugandan Government and a German firm signed a US$ a 1.8m agreement. The agreement which was signed by Uganda Electricity Generation Company Limited (UEGCL) on behalf of the government took place at the UEGCL offices in Nakasero. The German firm GOPA-International Energy Consultants GmbH together with an Italian based Zollet Ingegneria.... Read more »

Posted on : Wednesday , 11th November 2015

Construction of hydropower plants in East Africa gets financial support

Afritech Energy (AE) and East African Power have signed a US$ 40m agreement that will see the construction of four hydropower plants in Rwanda. The agreement will involve construction of four hydropower sites in Bihongora, Karambo II, Gatare Sebeya and Muregeya. Other two projects will be in Rustiro and two more in Rubavu. Executive Chairman of Afritech Dan Klinck was present in Kigali during the press conference and said.... Read more »

Posted on : Wednesday , 11th November 2015

Construction of phase II of Mombasa port terminal in Kenya to begin

The construction of phase II of Mombasa port terminal in Kenya will start early 2017, Kenya Ports Authority managing director Gichiri Ndua has said. When complete, the second container terminal will provide and additional capacity of 470,000 and 550,000 TEUs. Mr Ndua added that the construction project of phase II of Mombasa port terminal in Kenya will cost US$ 213m to complete. He further pointed out that the.... Read more »

Posted on : Wednesday , 11th November 2015

US$400m set aside for Development of Infrastructure and road construction

Out of the US$1.25bn Eurobond issue,US$400m has been allocated for road construction in Zambia in a bid to boost connectivity in urban and rural areas. According to the Deputy Minister for Finance, Christopher Mvunga, US $410.7m will be channeled towards road infrastructure improvement. He noted that US $268m will go into domestic debt swap and clearance while US $40m will be used for maintaining canals and purchasing.... Read more »

Posted on : Tuesday , 10th November 2015

European Bank to fund renewable energy in Africa

The European Bank for Reconstruction and Development (EBRD) will now focus on financing renewable energy in Middle East and North Africa, its director Philip ter Woort, has announced. The European Bank believes that the move will enable the Middle East and North Africa region to curb the current power shortage that is slowing economic progress in the region.. The EBRD and other financial institutions will launch a funding.... Read more »

Posted on : Tuesday , 10th November 2015

Nyagak III Small Hydro Power Project in East Africa to be constructed

The construction of Nyagak III Small Hydro Power Project in Uganda is set to commence soon, this is after the Ugandan Government and a German firm signed a US$ a 1.8m agreement. The agreement which was signed by Uganda Electricity Generation Company Limited (UEGCL) on behalf of the government took place at the UEGCL offices in Nakasero. The German firm GOPA-International Energy Consultants GmbH together with an Italian based.... Read more »

Posted on : Tuesday , 10th November 2015

Gas production in Africa records 50 million cubic feet increase

Gas production in Egypt increase by 50m cubic feet in gas production sending a sigh of relief to gas users in the country, a senior official in the Egyptian Natural Gas Holding Company (EGAS) According to the official the rate of natural gas increase to nearly 4.3bn cubic feet compared to 4.25bn cubic feet last month. The official added that the gas production in Egypt increased by 50 million cubic feet per day after.... Read more »

Posted on : Monday , 9th November 2015

AFRICA OIL COMPLETES FARM-OUT OF KENYA, ETHIOPIA LICENSES TO MAERSK OIL

Africa Oil Corp. has announced that it has entered into a definitive farmout agreement with a Danish oil and gas company Maersk Oil & Gas A/S, owned by the Maersk Group (“Maersk”) whereby Maersk will acquire 50% of Africa Oil’s interests in Blocks 10BB, 13T and 10BA in Kenya and the Rift Basin and South Omo Blocks in Ethiopia in consideration for reimbursement of a portion of Africa Oil’s past costs and a future carry.... Read more »

Posted on : Monday , 9th November 2015

Kachikwu Targets 3mbpd of Crude Oil Production By End of 2016

A Minister-designate and Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has stated that his target is to ensure that Nigeria's crude oil production capacity hits 3 million barrels per day by the end of 2016, from the current production level of about 2.5 million barrels per day. Speaking on Saturday at a luncheon organised in his honour by the Petroleum Club in Lagos, Kachikwu further.... Read more »

Posted on : Monday , 9th November 2015

TBZ to Mop Up 800 Tonnes of Tobacco

The Tobacco Board of Zambia (TBZ) will purchase about 800 tonnes of tobacco from farmers who are stranded with the crop after private merchants withdrew from the market. TBZ board secretary Samson Muyembe said in an interview in Lusaka yesterday that the decision has been taken to help farmers have enough resources to finance their farming activities for this farming season. Hundreds of farmers were left stranded with their.... Read more »

Posted on : Monday , 9th November 2015

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