Market News Page No. 463| Africa Business News | Afrotrade

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Oil and gas waste monitoring system to be installed in East Africa

The ministry of water and environment on Monday commissioned oil and gas waste monitoring system that will reinforce Uganda’s preparedness to control pollution as it moves closer to start extracting oil. The online real-time water quality monitoring system is an assortment of sophisticated equipment and machines that will be able to detect any form of foreign substance in water and relay information to the control centre in.... Read more »

Posted on : Wednesday , 15th July 2015

Oil refinery to be constructed in East Africa

Construction of an oil refinery in Hoima District is expected to start before December this year, the Ministry of Energy and Mineral Development has said. “It is anticipated that construction will start in 2015 and first phase of the refinery will be ready around 2018,” said Ms Catherine Bekunda, a communications officer in the Ministry of Energy’s Directorate of Petroleum. She was speaking during a one-day.... Read more »

Posted on : Wednesday , 15th July 2015

Apex Steel signs up again as the Gold Sponsor of 19th BUILDEXPO AFRICA 2016

Expogroup is proud to welcome on board Apex Steel from Kenya, as the GOLD SPONSOR of the 19th BUILDEXPO AFRICA 2016. Apex Steel Ltd is one of Kenya’s largest integrated building and engineering material suppliers. Headquartered in Nairobi, Kenya, the company conducts business throughout the East and Central African regions. Engaged in the manufacturing of steel, and trading in a wide range of building materials, engineering steel, and.... Read more »

Posted on : Wednesday , 15th July 2015

Dr. Wilson Songa, Hon'ble Principal Secretary, Ministry of Industrialization & Enterprise Development at 18th Buildexpo Kenya 2015

As the Chief Guest at the opening of the event, the minister took the opportunity to mention some core issues in increasing interaction and foreign collaborations using the platform Buildexpo provides." We need to create an environment to attract foreign investments. To achieve this, we need to build up the confidence of investors and provide them incentives " he emphasized. " The ministry is working hard to establish special.... Read more »

Posted on : Wednesday , 15th July 2015

Tanzania to Introduce New Incentives to Attract Infrastructure Investors

The Tanzanian government plans to launch new investment incentives in order to attract more infrastructure investors in the country, said Juliet Kairuki, Executive Director, Tanzania Investment Centre. This is part of a larger government plan where it is going to introduce a set of new investment incentives in a number of key sectors. “Preparations are ongoing and [we] will inform you when we are through,” she.... Read more »

Posted on : Wednesday , 15th July 2015

Cost of importing used cars into the region set to increase by 5pc

The cost of importing used motor vehicles into East Africa will go up by five per cent from next month after EAC ministers adopted new car importation and valuation rules. The ministers agreed to enforce the new rules, including standardised depreciation rates with effect from July 1. In the new rules the depreciation rate for all motor vehicles imported to the region will range from 20-80 per cent (which is five per cent lower.... Read more »

Posted on : Tuesday , 14th July 2015

Big investors eying Kenya's energy sector meet Uhuru Kenyatta

Kenya is a model investment destination in Africa, founder and CEO of the Virgin Group Sir Richard Branson said Saturday. Sir Branson made the remark when he led a group of investors in talks with President Uhuru Kenyatta at his Harambee House office. The meeting explored how to make the most of Kenya’s abundant potential for green energy. Other investors in the delegation included Jacqueline Novogratz (founder and CEO,.... Read more »

Posted on : Tuesday , 14th July 2015

Scottish firm set to boost power generation in Africa

The African Energy Commission has concluded and issued a provisional license to Aggreko plc to boost power generation in Ghana by putting up a power generating plant at Esiama, in Ellembelle District. The power plant is expected to generate between 40-50MW of power for a start and later augment its power production to 100MW for the next successive years. The Scottish power producing firm has already signed a Gas Supply Agreement with the.... Read more »

Posted on : Tuesday , 14th July 2015

Savannah Cement in Kenya to improve infrastucture to new product launch

Savannah Cement which is the newest entrant into the cement market in Kenya is set to launch a special kind of cement technically known as Hydraulic Road Binder (HRB) to be used for stabilization of soils during road construction. This new technology came after a request from the Kenyan Ministry of Transport and Infrastructure. It has already been approved by the Kenya Bureau of Standards, which is a quality checking bureau of the.... Read more »

Posted on : Tuesday , 14th July 2015

El Sewedy Electric set to develop a 50 MW solar power project in Egypt

Egyptian based cable make company El Sewedy Electric is set to construct a 50 MW solar power project in Upper sides of Egypt after getting into agreement with the country’s Energy ministry. The solar power project in Eqypt which is expected to cost $75 million is expected to kick off at the end of this month and the El Sewedy was given the contract after winning the tender. The Egyptian Company for Solar Energy.... Read more »

Posted on : Monday , 13th July 2015

Africa Its Own Biggest Investor

African pension fund capital has reached $340 billion and is growing rapidly. In addition, increasing adoption of insurance around the continent is causing insurance company investment portfolios to grow, and they are now estimated to be around $270 billion. These figures come from the Bright Africa 2015 report, released today by RisCura, which looks at the drivers, enablers and managers of investment on the continent. Mr Rory Ord,.... Read more »

Posted on : Monday , 13th July 2015

Viewing Lake Turkana Wind Power through Vision 2030 lens

Construction of the Lake Turkana Wind Power project at Loiyangalani in Marsabit County, has kicked off with the inauguration by President Uhuru Kenyatta, last week. The project, expected to inject 310 megawatts of sustainable clean energy, is a private sector flagship project of Vision 2030 — our long term development blueprint that aims to turn Kenya into a newly industrialising, middle-income country with a high quality of life.... Read more »

Posted on : Monday , 13th July 2015

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