Market News Page No. 303| Africa Business News | Afrotrade

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Black Rock Mining Ltd bags $5M in oversubscribed placement

Black Rock Mining Ltd (ASX:BKT) has pocketed $5 million in in oversubscribed placement of 33.3 million shares at $0.15, to institutional and sophisticated investors. The funds raised will be invested into the company’s Mahenge Graphite Project in Tanzania, one of the largest JORC graphite resources globally. The company recently achieved a 99.1% total graphitic carbon purity for all flake sizes from its bulk.... Read more »

Posted on : Wednesday , 14th September 2016

China and World Bank form firm to fund Africa projects

China and the World Bank have formed an infrastructure firm with an initial $500 million investment to help fund projects in Africa. China Overseas Infrastructure Development and Investment Corporation Limited (COIDIC) will invest and manage projects from concept to feasibility studies. It will also follow up on financial close and take part in commercial operations. Underwrite Its shareholding comprises China.... Read more »

Posted on : Wednesday , 14th September 2016

Uganda, Rwanda, Tanzania target private investments worth $10b

East African countries want private investors to take up projects worth about $10 billion to fast-track economic development and lift millions out of poverty. Uganda, Tanzania and Rwanda unveiled projects worth $9.9 billion at a recent Global African Investment Summit held in Kigali. Analysts believe the three countries are capable of attracting investors because East Africa still presents opportunities for businesses.... Read more »

Posted on : Wednesday , 14th September 2016

Kenya: Sh26 Billion Govt Fund to Handle Chronic Diseases

The government has invested nearly Sh26 billion in the National Hospital Insurance Fund to ensure that it handles chronic diseases such as cancer that kills more than 39,000 Kenyans annually. The financing by the government, through the Ministry of Health, is to "ensure universal health coverage" where diagnosis and treatment is accessible and affordable for all Kenyans, according to Health Cabinet Secretary Cleopa.... Read more »

Posted on : Wednesday , 14th September 2016

Government to establish regional cancer treatment centres

The Government plans to establish regional cancer treatment centres in a new strategy to decongest referral hospitals in the fight against the killer disease. Health Cabinet Secretary Cleopa Mailu said the cancer centres planned for the Coast, Nyanza, Central and Rift Valley regions would save Kenyans money spent while travelling to Kenyatta National Hospital to access the treatment. Dr Mailu, who spoke during the State.... Read more »

Posted on : Wednesday , 14th September 2016

Underground lines to reduce power blackouts

Electricity supply in Nairobi and environs will be more stable and reliable in a year upon completion of an underground cabling project, Kenya Power said yesterday. The project will cost Sh13.2 billion, and will comprise 30.71 kilometres of 220/66 kiloVolts of underground transmission lines. The lines are being connected to the new substation in the City Centre near Laico Hotel from the six 66kV-line substations around.... Read more »

Posted on : Wednesday , 14th September 2016

RMA Motors named super brand after three years in market

RMA Motors Kenya has been named one of East Africa's 53 heavyweight brands as it approaches its third year operating in the region. "We have the leading premium brand in the country over Mercedes and Porshe. One out of every three luxury cars on the road is ours," RMA Motors Kenya CEO Sanjiv Shah said. The Superbrands rankings will feature the First Lady's Beyond Zero foundation for its exceptional work in reducing.... Read more »

Posted on : Wednesday , 14th September 2016

Africa gaining ground on Australia as an attractive mining destination

Australia risks losing its investment edge over Africa for mining projects in coming years if it does not stay “match fit”, one of Australia’s leading resources and energy lawyers warned today. Addressing the second day of the three day Paydirt 2016 Africa Down Under mining conference in Perth today, Gilbert + Tobin Partner, Mr Phil Edmands, said today the “playing field” between Australia and.... Read more »

Posted on : Tuesday , 13th September 2016

AZ: CDMA Contributing Resources, Expertise to Help Kenyan Clinical Efforts

The administration and faculty of the College of Dental Medicine-Arizona is expanding its international outreach by donating equipment and sharing expertise with a delegation from Kenya. CDMA recently welcomed a delegation from the Kilifi Province in Kenya to inspect the College's facilities and receive advice on logistical planning for a new hospital and dental clinic initiative underway in the province. The Honorable Amason.... Read more »

Posted on : Tuesday , 13th September 2016

White Rivers, Harmony strike gold in South Africa

Harmony Gold and White Rivers Exploration have discovered a major gold deposit in South Africa’s Witwatersrand Basin, one of the world’s largest unmined gold resources areas. The joint venture deposit contains 11.5 million ounces of gold at a grade of 8.9 grams per ton of gold. It is located near Harmony Gold’s producing Target Mine, with mining to be conducted up to 2.2km underground. The mine.... Read more »

Posted on : Tuesday , 13th September 2016

GDC to provide drilling rig and team for oil exploration in Kenya

Reported last week from Kenya, the country’s Geothermal Development Company (GDC) has entered into an agreement with National Oil Corporation of Kenya. Under the agreement, both companies agreed to jointly offer drilling services to speed up oil and gas exploration in Kenya. According to GDC Managing Director Johnson Ole Nchoe, the partnership will see the two State agencies jointly undertake drilling activities basing on.... Read more »

Posted on : Tuesday , 13th September 2016

India, Africa to boost collaborations in medical research

India and African nations have decided to take major steps to boost collaborations in joint medical research and work to harmonise regulatory frameworks to develop the pharmaceutical market in Africa. “India and over 20 African nations, agreed to take concrete steps to boost health and research collaborations. In light of the similar health challenges faced by both India and Africa, the delegates elucidated the need to take.... Read more »

Posted on : Tuesday , 13th September 2016

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