Market News Page No. 500| Africa Business News

Kenyan government to construct 300, 000 housing units for staff

The government of Kenya through the Ministry of Lands, Housing and Urban Development is planning to put up 300, 000 houses for civil servants by 2017. The social housing project will see the country alleviate housing needs by civil servants, some of which – like the police – have been reported to live in deplorable conditions. The government will start construction of 10, 000 units this year according to the director of housing.... Read more »

Posted on : Tuesday , 13th January 2015

Kenya, China Partnership to Focus On Industrialisation

Nairobi — China's engagement with Kenya is set to expand with a new focus on industrial development and technology transfer. This was the message China's Foreign Affairs Minister Wang Yi delivered to President Uhuru Kenyatta today at State House, Nairobi, at the start of the Chinese Minister's eight day tour of Africa. Mr Wang said his mission was to strengthen the existing bilateral co-operations between Kenya and China and chart new.... Read more »

Posted on : Tuesday , 13th January 2015

Africa: What Tech Will Take Off in Developing Nations in 2015?

'Light' will be the buzz word next year. The UN has proclaimed 2015 the International Year of Light and Light-based Technologies, with the goal of raising global awareness of how such technologies can help development by providing solutions to challenges in energy, education, agriculture and health. But besides light, developing nations are struggling with many other issues that researchers and technology companies are trying to address. Better.... Read more »

Posted on : Tuesday , 13th January 2015

Egypt signs six new oil and gas exploration deals

Egypt has signed six new oil and gas exploration contracts worth hundreds of millions of dollars with foreign and Egyptian companies, the oil ministry said on Friday. The agreements provide for the drilling of some 41 discovery wells in the western desert and Gulf of Suez, the ministry said in a statement via the official news agency. Among the major companies selected are Shell, ENI, BP and Canada's TransGlobe Energy. Egypt has.... Read more »

Posted on : Monday , 12th January 2015

Nashvillian's solar device helps vendors in Africa

Nashville resident Mawuli Tse has brought solar power to more than 600 homes in urban parts of Ghana and nearby countries through his company, Solar Light. Now, he is using energy from the sun to help those in more rural communities — this time through street vendor umbrellas and a mobile phone charging kit. With the help of a $100,000 grant from the United States African Development Foundation and General Electric, Tse is.... Read more »

Posted on : Monday , 12th January 2015

Oil and Gas industry showing better appreciation for local content participation � SBC

A research by Schlumberger’s strategic management consulting arm Schlumberger Business Consulting (SBC) says there is a better appreciation by the oil and gas industry of the need for local content participation. This follows the outcome of a local content forum by SBC dubbed “Optimizing Local Benefits from Oil & Gas Projects” that brought together E&P operators, regulatory bodies, EPC contractors,.... Read more »

Posted on : Friday , 9th January 2015

Menengai geothermal to save nation Ksh 13 billion

Kenya will save about Ksh 13 billion annually once the 105 MW geothermal power plants start to operate in Menengai, Nakuru by end of 2015. The project run by the Geothermal Development Company (GDC) has now awarded three IPPs land where they will put up power plants. The company is also constructing a major steam gathering pipeline that will distribute the steam from wells to turbines. “We now have three new investors.... Read more »

Posted on : Friday , 9th January 2015

Will 2015 be the year of solar power across Africa?

In January 2015, South Africa’s Minister of Energy will announce another doubling of the renewable energy capacity in the country. The Republic is struggling with regular blackouts due to breakdowns in its aging fleet of mainly coal power plants. The Government has decided to accelerate and expand the solar and wind programs for two reasons: Wind and solar photovoltaics (PV) are not only competitive with coal and gas in.... Read more »

Posted on : Friday , 9th January 2015

Drilling of Badada-1 well in Kenya�s Block 2B begins

Block 2B operator Taipan Resources through its subsidiary Lion Petroleum has announced that the GW-190 rig has spudded Badada-1 well with the well planned to be drilled to a total depth f between 3000 and 4000 meters. The well which will take 70 days to complete will test tertiary age reservoirs similar to those in Block 10BB, 13T in the Lokichar basin where Tullow and its partner have discovered oil. According to Taipan CEO.... Read more »

Posted on : Friday , 9th January 2015

Rising electricity prices is good news for solar energy users

Amid rising petrol prices and threats of interest rate hikes, there’s one ballooning cost that solar energy users don’t need to worry about: increasing electricity prices. To the dismay of householders and businesses alike, Eskom and the National Energy Regulator of South Africa (NERSA) are in discussions that could result in yet another hike in electricity prices – by as much as 12.69%. While this comes as no surprise, it is.... Read more »

Posted on : Thursday , 8th January 2015

GDF Suez as forerunner for solar bid in SA�s REIPPP programme

The Department of Energy in South Africa, has granted French electric utility company, GDF Suez as the preferred bidder in the latest round of its REIPPP programme for the 100MW Kathu Solar Park in the country’s North West province. Having been granted preferred bidder status, invites GDF Suez to enter into a 20 year power purchase agreement with state utility, Eskom. This is not the first instance of the company’s.... Read more »

Posted on : Thursday , 8th January 2015

Ethiopia adds a further 1 870 MW with Gigel Gibe III Hydroelectric Project

The Gilgel Gibe III Hydropower project, constructed and situated on the Omo River in Ethiopia is expected to, once completed, generate 1 870 MW of power assisting in meeting the energy needs of those residing in Ethiopia and neighbouring countries. Construction of the 243m concrete dam began in 2008, and is scheduled to start generating power in early 2015. It is reported that Gigel Gibe III’s ten 187MW turbine units will boost.... Read more »

Posted on : Thursday , 8th January 2015