Market News Page No. 246| Africa Business News

Ethiopia Exploring Renewable Energy Resources for Viable Development

If we look over the experience of developed countries, the development of their energy sources played indispensable role for achieving economic advancement. The industrial revolution which took place in 1850 in Great Britain and other European countries was aggressively entertained by the exploitation of non-renewable energy sources. From that time on-wards, the human way of life was rapidly changed and the socioeconomic progress was.... Read more »

Posted on : Monday , 14th November 2016

Kenya: Official Urges Geothermal Firm to Hasten Power Generation

A senior official at the Vision 2030 secretariat want Geothermal Development Company (GDC) to fast-track the process of generating steam power at the Menengai fields in Nakuru County. This, he said, will speed up the country's ambitious flagship project of providing Kenyans with green energy and at the same time saving the multibillion project from being branded another "white elephant project." According to the.... Read more »

Posted on : Monday , 14th November 2016

East Africa: Rusumo Hydroelectric Power Project Deal Inked

Two contracts, worth $75 million (about Rwf46 billion), for the initial construction works of the Regional Rusumo Falls Hydroelectric Project have been signed. The contracts for the power project to generate 80 megawatts of electricity were signed in Kigali on Wednesday. The first contract was signed between Rusumo Power Company Limited (RPCL), and a consortium of contractors, including CGCOC Group Ltd - Jiangxi Water and.... Read more »

Posted on : Monday , 14th November 2016

Tanzania: ATI To Bring in $1.2 Billion Investment in Energy Sector

The African Trade Insurance Agency (ATI) has urged the government to strengthen the existing partnership with ATI to bring in 1.2 billion US dollars (2.6tri/-) investments into the energy sector and an additional 1,200 Megawatts into the national grid. ATI Chief Executive Officer Mr George Otieno said in Dar es Salaam yesterday that the insurance firm's objective is to support Tanzania by bringing in much needed investments and lowering.... Read more »

Posted on : Friday , 11th November 2016

Tanzania: Brewery Invests In Solar To Cut Power Costs

Dar es Salaam — Tanzania Breweries Limited (TBL) Group has injected $250,000 (about Sh545 million) into its newly-commissioned solar project in Mbeya Region as the beer brewer seeks to play an increasingly significant role in conserving the environment and reducing its spending on electricity. The TBL Group technical director Gavin Van Wijk said in Dar es Salaam yesterday that the first phase of its solar project at its Mbeya.... Read more »

Posted on : Friday , 11th November 2016

Rwanda: Expert Says Energy Sector Remains Attractive

The Rwanda Energy Group is targeting to increase power output to at least 563MW by 2018 from the current capacity of 190MW and connect about 70% of households by 2020. In East Africa, the chief executive officer at the Rwanda Energy Group (REG), Jean Bosco Mugiraneza, has stated that the utility seeks to upsurge power distribution and supply, as well as increase efficiency to meet increasing demand for electricity in the country,.... Read more »

Posted on : Thursday , 10th November 2016

Tanzania: Energy Deficit Can Be Tackled by More Investments

The African Trade Insurance Agency (ATI) will tomorrow host an international conference on unlocking investments to maximise Tanzania's Energy Potential. ATI's Chief Underwriting Officer Mr John Lentaigne said in a statement that, "Most international financiers and lenders simply cannot invest in most African countries due to their sub-investment grade ratings without an institution like ATI standing behind these.... Read more »

Posted on : Thursday , 10th November 2016

Rwanda: Minister Calls for More Investors in Energy

The Minister of Infrastructure, James Musoni, has said that while the energy sector has played a key role to the country in achieving an average GDP growth of 8% for the last decade, considerable investment is still required in the sector for the country to achieve its economic target of 11.5% annual growth by 2020. The Minister made the remarks on Tuesday while opening the third edition of the iPAD Rwanda Energy Infrastructure Forum in.... Read more »

Posted on : Thursday , 10th November 2016

Agriculture, Forestry and Fisheries Provides Drought Relief Assistance

Department of Agriculture, Forestry and Fisheries provides much needed drought relief assistance South Africa is battling the worst drought since 1992 which has led to seven provinces (Free State, KwaZulu-Natal, Limpopo, Mpumalanga, North West, Northern Cape and Eastern Cape) declaring a provincial state of drought disaster. The Western Cape Province has declared a local state of disaster in three municipalities (Central Karoo, Eden and.... Read more »

Posted on : Tuesday , 8th November 2016

SHELL, JV PARTNERS GEAR UP TO COMMENCE DRILLING PROGRAMME IN TANZANIA

Shell and its joint venture partners, Pavilion Energy and Ophir Energy have announced the start of its drilling programme covering two wells in Block 1 and 4, located in the Mafia Deep basin off Tanzania. The rig supporting the programme – the Noble Globe Trotter 2 – is expected to commence operations towards the end of October 2016 and will be drilling in waters up to 2300 metres deep. The joint venture partners.... Read more »

Posted on : Monday , 7th November 2016

Coffee Festival Out to Woo Youth Into Farming

A coffee festival that seeks to motivate the youth to pay more attention to agribusiness will be held at Namboole on November 4. The second annual coffee festival, which is organised by different organizations, aims to try and place youth as key drivers of the growth of coffee consumption and exports, which have recently dropped. Joseph Nkandu, the executive director of Nucafe, one of the institutions organizing, said the festival could.... Read more »

Posted on : Monday , 7th November 2016

Nissan Altima to be introduced

The new Nissan Altima enters the local market fresh from its global redesign, which includes a new and dramatic exterior design, more and improved luxury features and a significant mechanical upgrade of the steering and suspension system. The new Nissan Altima features boomerang-shaped headlights, new front and rear bumpers and sculpted fenders. It is fitted with 17” alloy wheels, which perfectly complement the model’s dynamic.... Read more »

Posted on : Monday , 7th November 2016