Market News Page No. 299| Africa Business News | Afrotrade

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OPIC and Bechtel Move Forward in Developing Nairobi-Mombasa Expressway Project

The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today signed a letter of interest with the Government of Kenya to begin financing discussions on Breach of Contract political risk insurance of up to $500 million in support of the Nairobi-Mombasa Expressway Project. OPIC President and CEO Elizabeth L. Littlefield and Kenyan Minister of Finance Henry K. Rotich signed the letter.... Read more »

Posted on : Thursday , 22nd September 2016

Suzuki Vitara gets second AT option in South Africa

Suzuki Auto South Africa has introduced an automatic option for the Suzuki Vitara SUV. It is based on the 2WD GL+ variant and priced at ZAR 313,900. This is the second variant in the Vitara range to offer an AT option, which was previously exclusive to the top-end GLX. The Vitara is powered by a 1.6L four-cylinder petrol engine that produces 120 hp and 156 Nm of torque. It is paired with a 6-speed automatic gearbox (torque.... Read more »

Posted on : Thursday , 22nd September 2016

Ethiopia: Over 1.3 Billion Birr Raised for GERD Construction

The Office plans to raise 1.8 billion Birr this fiscal year. The Office of National Council for the Coordination of Public Participation for the Construction of GERD said 1.3 billion Birr has been secured from various income generating schemes for the construction of the Grand Dam last fiscal year. Office Deputy Director-General Fikirte Tamir said the stated sum was obtained from bond sales and donation, lottery, 8100.... Read more »

Posted on : Thursday , 22nd September 2016

Rwanda: Experts Call for Sustainable Agriculture Interventions

Agriculture can greatly contribute toward the achievement of the Sustainable Development Goals (SDGs) that seek to end poverty, hunger, inequality and injustice as well as tackle climate change, experts said, calling for more governments' intervention. The experts were speaking on Monday during a Food and Agriculture Organisation (FAO) regional workshop under the theme: "Towards productive, sustainable and inclusive.... Read more »

Posted on : Thursday , 22nd September 2016

Digitising taxes in Tanzania could provide $0.5bn annual boost

Digitising taxes in Tanzania could boost the country’s revenues by half a billion dollars every year, according to a United Nations report. The report, published yesterday by the UN-based Better Than Cash Alliance, found that by digitising value added tax and supporting the formalisation of businesses, Tanzania could collect an additional $477m annually. This would be a substantial windfall for a country with a GDP.... Read more »

Posted on : Thursday , 22nd September 2016

Excitement builds as Aminex chases explorer�s holy grail

With drilling expected to run through the fourth quarter, and some fast track production targetted soon after, no wonder there's excitement for upcoming Ruvuma programme. New phase of work in Tanzania aims to establish the kind of production that can sustain and ‘self-funding’ the group’s continuing expansion. Such an aspiration is, as chief executive Jay Bhattacherjee describes, the “holy.... Read more »

Posted on : Thursday , 22nd September 2016

Black Rock Mining Ltd reveals battery grade graphite at Mahenge project

Black Rock Mining Ltd (ASX:BKT) has achieved and exceeded high quality battery grade spherical graphite specifications through initial testing of samples from the company’s flagship Mahenge graphite project in Tanzania. This test program was conducted in Europe by an independent test laboratory using the company’s early generation 95.86% bulk concentrates. Testing concluded that Mahenge graphite concentrates.... Read more »

Posted on : Thursday , 22nd September 2016

More than $1 billion in Power Africa commitments finalized - USAID chief

More than $1 billion in debt and financing commitments from U.S. agencies and private investors is set to be announced on Wednesday for U.S. President Barack Obama's signature Africa energy initiative, Power Africa, a top USAID official said. The latest deals were finalized around a U.S.-Africa business forum on the sidelines of annual U.N. meetings in New York this week, USAID chief Gayle Smith said in an interview with Reuters..... Read more »

Posted on : Thursday , 22nd September 2016

Vivo Energy opens largest diesel storage tank in Kenya at Shimanzi

Vivo Energy Kenya has opened a 23 million litre diesel storage tank at the company’s Mombasa terminal at Shimanzi in what is the largest diesel storage capacity in the country by one oil marketer. The company also opened a 5 million litre petrol storage tank. The opening of these tanks increases the company’s diesel storage to 53 million litres, and petrol storage to 29 million.... Read more »

Posted on : Thursday , 22nd September 2016

Expanding to Africa, Columbia Pacific opens health clinic in Nairobi

Columbia Pacific Management, a Seattle-based investment firm that runs health-care facilities in various countries, has expanded to Africa. Under the new Columbia Africa brand, the company opened its first clinic in Nairobi, Kenya, this week. The 5,300-square-foot clinic and diagnostic center offers services in family medicine, internal medicine, pediatrics, gynecology, general surgery, orthopedics, opthalmology and.... Read more »

Posted on : Thursday , 22nd September 2016

Government to invest Ksh. 3.2 Billion on Oil infrastructure, KTN Prime 21st September 2016

The ministry of infrastructure is set to spend 3.2 billion shillings in constructing requisite infrastructure that will pave the way for Kenya to start exporting oil come June 2017. According to roads principal secretary Eng. John Mosonik, plans are underway to rehabilitate the Eldoret Lokichar road in preparation for the harvesting of early oil in Turkana. Stakeholders in the petroleum sector have expressed concern over the pace of.... Read more »

Posted on : Thursday , 22nd September 2016

Solar power company raises Sh2.25bn to connect homes

Solar power equipment distributor d.light has announced securing $22.5 million (Sh2.25 billion) for its PayGo business which provides homes with cheaper and clean power solutions. The company, which has reached more than 1.6 million Kenyan households, said it will spend a significant amount of the investment in the East African market. “Consumer financing for solar home systems makes the technology significantly.... Read more »

Posted on : Thursday , 22nd September 2016

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