Market News Page No. 189| Africa Business News | Afrotrade

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Tullow Strikes More Oil In Kenya

Tullow Oil has announced a find in the Emekuya-1 oil well in the South Lokichar basin in the northwestern part of the country. The exploration well was drilled in the Block 13T, which the UK-based, Africa-focused company operates with a 50-percent interest in partnership with Maersk Oil and Africa Oil Corporation, both with 25-percent stakes. The well revealed a net pay—the vertical height of the rock formation that holds.... Read more »

Posted on : Friday , 11th August 2017

National Oil acting chief executive confirmed

The National Oil Corporation of Kenya has confirmed interim boss Mary Jane Mwangi as chief executive after acting for a year. The State-owned firm said Ms Mwangi was ranked top in the interview and will now head the firm for three years effective August 1. “She is expected to drive change, lead and build a competitive fully integrated oil and gas firm,” said Samuel Gakunga, acting chairman at Nock. Ms.... Read more »

Posted on : Friday , 11th August 2017

President Uhuru launches construction of Sh1.7b Kisumu oil jetty

President Uhuru Kenyatta Wednesday launched the construction of the Sh1.7 billion Kisumu oil jetty whose completion in October is expected to help Kenya recapture the regional fuel market share lost to Tanzania. The jetty whose construction began in April is 15 per cent complete and is expected to boost throughput in Kisumu by 1 billion litres a year in phase 1 and up to 3 billion litres per year by 2028. It will improve the reliability.... Read more »

Posted on : Friday , 11th August 2017

Dutch oil marketer Lexo Energy launches in Nairobi

A Netherlands-based company has launched operations in Kenya, making Nairobi its second African destination. Lexo Energy, the latest oil marketer to join the Kenyan market, is backed by a multi-billion-shillings war chest with which it plans to open up to 25 new petrol stations this year. The entry bucks a recent trend in which Western multinationals have been exiting Kenya’s (and Africa) petroleum retail market to.... Read more »

Posted on : Friday , 11th August 2017

Total Kenya parent firm's profits surge as oil prices rise

French oil company Total said Thursday underlying profits gushed higher in the second quarter thanks to a recovery in the price of oil, with the company also benefitting from increased output. The firm's measure of adjusted profits that excludes exceptional items climbed 14 per cent from the same period last year to $2.5 billion (about Sh260 billion). That beat the consensus forecast of analysts surveyed by financial data.... Read more »

Posted on : Friday , 11th August 2017

Volkswagen unveils Sh1.65m passenger car as Uhuru inaugurates plant in Thika

The Volkswagen Group Wednesday unveiled its first locally assembled passenger vehicle in four decades during the official opening of its production line at the Kenya Vehicle Manufacturing plant in Thika. The vehicle, VW Polo Vivo, which has been assembled in three months, will retail at Sh1.65 million inclusive of value-added tax. The group will in its initial phase produce up to 1,000 vehicles per year, a number that.... Read more »

Posted on : Friday , 11th August 2017

Toyota appoints first Kenyan as Country Manager

The appointment of Reel is the first Kenyan appointment to this position. Reel takes over from Sachio Yotsukura who has been with the company for the last four and a half years and returns to Japan to pursue other duties under the parent company, Toyota Tsusho Corporation. Reel comes back home to Toyota Kenya with extensive experience in the automotive industry spanning 20 years, having held various positions in.... Read more »

Posted on : Friday , 11th August 2017

Buses for Africa: Daimler launches two locally built Mercedes-Benz models for Kenya

Daimler is bringing two new bus models to the important African market of Kenya. This is Daimler Buses’ response to the ever-growing demand in East and Central Africa for comfortable and safe buses for passenger transportation. Both bus models are built in Nairobi in cooperation with local sales partner DT Dobie Kenya for the domestic market and its challenging road conditions. The compact Mercedes‑Benz 917 city bus is ideal.... Read more »

Posted on : Friday , 11th August 2017

Motorcycle TVS StaR HLX 150 launched in Kenyan market

Listed equipment supplier Car and General has launched a motorcycle, TVS StaR HLX 150, with state-of-the-art features in the local market. “Kenya has recently witnessed a positive upswing in the economy, thus creating opportunities in the transport and mobility sector,” Car and General group managing director Vijay Gidoomal said in a statement. The motorcycle is targeted at boosting the firm’s sales in.... Read more »

Posted on : Friday , 11th August 2017

General Motors East Africa is now Isuzu East Africa

The change of name took effect from 1st August, 2017 after attaining the required regulatory approvals. Speaking at Isuzu East Africa offices, Isuzu East Africa Managing Director, Rita Kavashe, noted that the change is a continuation of the vision the management and board of the company had for 40 years now. “Over the last 40 years, GMEA has continued to assemble quality Isuzu vehicles for the market impacting.... Read more »

Posted on : Friday , 11th August 2017

Japanese architect to design 20,000 homes for refugees in Kenya

Shigeru said he got involved after hearing about the immense challenges facing humanitarian agencies in providing shelter to tens of thousands of refugees arriving in the area from countries such as South Sudan. The architect visited the Kalobeyei settlement and met with refugees and the local community and looked at the existing structures housing thousands of displaced people, to help assess their needs. Over 37,000.... Read more »

Posted on : Friday , 11th August 2017

Kenya: Furniture Designer Makes Impossible Dreams Come Alive in Wood

Painted and gleaming wood surfaces might have been all the rage in the past, but natural wood pieces are slowly taking over. And nowhere does this come to life more than at Rampel Designs furniture production studio. At the company's workshops in two adjacent buildings at the back of the vast JCB Ganatara GoDowns on Baba Dogo Road in Nairobi, one is welcomed by the din of planes, cutters and sanders against wood. But it.... Read more »

Posted on : Friday , 11th August 2017

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