Market News Page No. 265| Africa Business News | Afrotrade

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Swala Tanzania seeks $120m to fund oil exploration in East Africa

Swala Oil & Gas (Tanzania) has engaged Exotix Partners to raise $120 million in corporate bonds for funding expansion in East Africa. The Dar es Salaam Stock Exchange-listed firm recently acquired oil exploration interests in Burundi from Surestream Petroleum Ltd of Britain and intends to venture into other parts of Africa. Surestream through a subsidiary, Surestream Petroleum (Burundi), owns block D around Lake.... Read more »

Posted on : Wednesday , 19th October 2016

Tanzania: Govt Targets 13% Economic Growth

Dodoma — Tanzania is required to boost its economy by more than 13 per cent annually in order to attain a middle income status by 2025. For the past years the country's economy has been growing by 7 per cent only. Speaking yesterday when launching the Tanzania Investment Bank (TIB) board of directors, Finance and Planning Minister Philip Mpango challenged the board members to ensure the bank put much attention on supporting.... Read more »

Posted on : Wednesday , 19th October 2016

Kenya: The Thrill of Working On New Railway

A huge red-and-white motivational banner that says "Unskilled worker today, engineer tomorrow" stands on a wall at the Mtitu Rail Girders and Sleepers factory at Kilometre 253 from Mombasa on the standard gauge railway route. By the time President Uhuru Kenyatta rides on a train from Mombasa to Nairobi, probably in June next year, when construction of the railway is complete, some 600 bridges and at least 12,000 track.... Read more »

Posted on : Wednesday , 19th October 2016

Kenya says right environment in place to attract investors

Kenyan President Uhuru Kenyatta on Tuesday urged visiting American business community to invest in the East African nation, saying Nairobi has one of the best business environments for any entrepreneur willing to invest. Kenyatta said that for the last three years, the government has undertaken legal and political reforms which are aimed at making the country one of the most attractive investment destinations in the.... Read more »

Posted on : Wednesday , 19th October 2016

Tanzania: Solar Energy Offers Cost Effective Solution

In remote areas where the electricity grid has not reached, entrepreneurs are jumping on the solar bandwagon to light their communities and address their basic energy needs. Our countries continue to depend on the availability of better and easier energy that is affordable to rural Tanzania. The renewable energy sector such as solar and gas resulting from animal waste, electricity generated by wind or waves and more sustainable.... Read more »

Posted on : Wednesday , 19th October 2016

Large Floating Power Plants Helping to Electrify Africa

A floating power plant isn't something you see every day. The massive ships look like plants you'd see on land complete with tall exhaust stacks—except these plants are bobbing in the ocean. They might look odd, but for people in growing economies around the world, the ships are a welcome sight. The floating power plants can dock in the harbor, crank up their turbines and start quickly generating electricity for customers on.... Read more »

Posted on : Tuesday , 18th October 2016

Rwanda: Public, Private Sector Partnership Key to Achieving Electrification Targets - Govt

The Ministry of Infrastructure (MINIFRA) has said partnership mechanisms between the public and private sectors will enable government to achieve the 2017/2018 electrification targets. The remarks were made yesterday following the signing of agreements between Energy Development Corporation ltd (EDCL) and 13 more companies to provide off grid solutions country wide. 2017/2018 government's electrification target is to make sure.... Read more »

Posted on : Tuesday , 18th October 2016

East Africa: Africa's Largest Wind Farm on Schedule for Completion In 2017

With 155 turbines of 365 turbines installed in the past six months, Lake Turkana Wind Power project has achieved a has achieved a new milestone well ahead of the completion deadline of next year. The 310 MW turbines, which are attached to 52 meter rotors are hoisted on towers stretching up to 44 meters high across the arid Sarima Village, in Marsabit County. Once completed, the project will be the largest wind farm in.... Read more »

Posted on : Tuesday , 18th October 2016

East Africa: Households, Industries to Get Natural Gas Connections

Since sometime in 2012 or earlier than that, there were reports of the government's move to supply natural gas to homes--with a pilot project to connect homes in Mikocheni and international hotels. The move was followed by inauguration of a distribution pipelines connecting homes and the hotels, raising new hopes of accessing the crucial energy more cheaply. Three gas distribution centres are in place since 2014; in Sinza,.... Read more »

Posted on : Tuesday , 18th October 2016

Ethiopian government to set up petroleum and mineral exploration corporation

The Ethiopian government is finalizing plans of setting up a giant corporation that will be involved in exploration, development and trading of petroleum, the exploration and development of minerals and the development of bio- fuel dubbed Ethiopian Minerals, Petroleum and Bio-Fuel Corporation with an authorized capital of $675 million. The giant corporation under formation comprises three divisions ˗Petroleum, mining.... Read more »

Posted on : Tuesday , 18th October 2016

'Give SA its own fracking agency�

There is a clean future without coal-fired power stations in South Africa. It is a future in which wind and solar plants feed power into the national grid for 80% of the year. These will be backed up by gas-fired generators. But the dangers of getting that gas out of the ground means a patient process has to be followed to answer any questions and quell concerns. That’s because South Africa refused to join most other.... Read more »

Posted on : Monday , 17th October 2016

Rwanda: Govt Secures Rwf16 Billion to Boost Health Sector

Government and the Kingdom of Belgium have signed a financial agreement to support the health sector. The financial agreement worth Euros18 million (about Rwf16 billion) will be channelled through the Ministry of Health, according to Claver Gatete, Minister for Finance and Economic Planning. Gatete said this yesterday during the signing ceremony held in Kigali, where he stated that the money is part of the ongoing.... Read more »

Posted on : Monday , 17th October 2016

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