Market News Page No. 309| Africa Business News | Afrotrade

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Ethiopia: Power Transmission Line From Gibe III to National Grid Installed

The Ministry of Water, Irrigation and Electricity said that the installation of transmission lines that would transfer power generated from Ghibe III to the national grid has been finalized. Briefing journalists Thursday State Minister Eng. Wondimu Tekle said the essential installations from the dam to the national grid through Wolaiyta - Akaki Gelan have been carried out. The State Minister said that though the project.... Read more »

Posted on : Wednesday , 14th September 2016

East Africa: Ethiopia Envisions to Generate 17,000 MW From Renewable Energy

Environment and Climate Change Minister Dr. Shiferaw Teklemariam said that Ethiopia looks to lead Africa in planing and constructing large hydro-power projects from solar, wind, geothermal and hydro power sources. Opening a two-day International Conference and Exhibition on Renewable Energy with the theme: 'Powering Resilience with Renewables' here yesterday, the Minister said by the end of 2020, Ethiopia planned to generate about.... Read more »

Posted on : Wednesday , 14th September 2016

Ethiopia: Artistic Printing Privatized

Artistic Printing Enterprise, one of the public enterprises in Ethiopia, has been privatized by a joint venture formed between Feleke Trading PLC and Corporate Computer Center PLC. The joint venture is declared to have won the bid after submitting a bid price of 329 million Birr. Representatives of the joint venture concluded the privatization agreement with Ministry of Public Enterprise on Tuesday, September 6, 2016. The.... Read more »

Posted on : Wednesday , 14th September 2016

Dodoma Telecommunications Set to Improve With Fibre Network

The Tanzania Telecommunication Company Limited (TTCL) will establish optic fibre rings network (Local Area Network, LAN) in Tanzanian capital Dodoma to improve local telecommunications. The announcement was recently made by Kamugisha Kazaura, CEO of TTCL, who explained that the plan of TTCL follows the government’s decision to move its headquarters to Dodoma, from Dar Es Salaam, over the next 5 years. Kazaura also said that the.... Read more »

Posted on : Wednesday , 14th September 2016

South Africa: Sasol's Cost-Containment Strategies Yield Results

Sasol's [JSE:SOL] restructuring programme, implemented as far back as 2012, aimed to reduce cost sustainably and has helped make the group more efficient, according to chief financial officer Paul Victor. He was speaking at an interview with Fin24 following the group's financial results announcement for the year ended June 30 2016 at its head office in Johannesburg. The group's financial results were impacted by the falling oil.... Read more »

Posted on : Wednesday , 14th September 2016

Kenya to Set Out Roadmap for Achieving SDGs

Nairobi — Kenya was on Wednesday set to launch a roadmap that will guide the country in its quest to achieve the 17 Sustainable Development Goals (SDGs). President Uhuru Kenyatta will present the same roadmap to the United Nations General Assembly (UNGA) that will converge in New York next week. "It will be the major accomplishments that President Kenyatta will be presenting to the UNGA next week to showcase.... Read more »

Posted on : Wednesday , 14th September 2016

Murray & Roberts of South Africa Mulls U.S. Oil & Gas Deal

Murray & Roberts Holdings Ltd., the South African engineering and construction-projects company in talks to sell its building and infrastructure units, said it’s evaluating a U.S. oil and gas acquisition and will probably seek a larger international deal in years to come. Murray & Roberts, which built landmarks such as Johannesburg’s Carlton Centre, Africa’s tallest building, is working to transform itself into.... Read more »

Posted on : Wednesday , 14th September 2016

Tanzania: Irrigation Projects Get Cash Boost

The Minister for Water and Irrigation, Mr Gerson Lwenge, has said that more than 39bn/- has been allocated to the Irrigation Commission in a bid to boost irrigation projects from the current 460,000 hectares to one million hectares by 2020. Speaking during a live broadcast programme aired by Tanzania Broadcasting Corporation (TBC) on Friday, Mr Lwenge said the commission was given strategies to ensure that by the year 2020.... Read more »

Posted on : Wednesday , 14th September 2016

Ethiopia: Corporation to Undertake Sugar Factories Irrigation Infrastructure development

The Ethiopian Construction Works Corporation (ECWC) sighed agreements to undertake irrigation infrastructure development works for Omo Kuraz, Arjo Dedesa and Wolkayit sugar factories. Corporation CEO Eng .Haile-Meskel Tefera said one of the agreements is the construction of a-54km canal that stretches from head water to farmland of Omo Kuraz to irrigate 150, 000 hectares of sugar farm;thereby, to feeding factories which crush.... Read more »

Posted on : Wednesday , 14th September 2016

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

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