Market News Page No. 335| Africa Business News | Afrotrade

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Kenya Energy Sector: Sollatek Electronics Incentives Solar Entrepreneurs

Sollatek Electronics latest project "Sollatek Direct: Solar Entrepreneurs in Kenya" has been selected by Energy and Environment Partnership (EEP) to received EUR 250.000 from the Ministry of Foreign Affairs of Finland, the Austrian Development Agency and the UK Department for International Development. The total project cost is over EUR 650.000, of which EEP has funded 40%, while Sollatek funds the remaining 60%. This project's.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzanian solar energy provider secures US$18mn

Tanzania-based solar energy provider Off Grid Electric (OGE) has received a total funding of US$18mn for its operations in East Africa. The financing is provided by two funds in a combination of equity and debt, with US$10mn coming from Helios Investment Partners, a pan-African investment firm, and US$8mn in debt financing from responsAbility, Swiss-based asset managers specialising in development-related sectors of emerging.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Acacia Mining Profit Up As Gold Prices Rise

Acacia Mining profit in the first half of 2016 have soared as gold prices and sales surged while operating costs fell. The gold mining company, which operates three mines in Tanzania, said in a statement its earnings before interest, tax, depreciation and amortisation for the six months to June 30 rose 91 per cent to 184.9 million US dollars, helped by lower costs and higher gold sales. The gold miner, said it was now.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya: Japanese Firm to Build Organic Waste Processing Plant in Meru

A Japanese company has started talks with the Meru County government to establish an organic waste processing plant in the county. Meiwa, a company that converts organic waste into charcoal through biomass carbonisation technology intends to set up in Meru before moving to other parts of the country. Speaking when he met Meru Governor Peter Munya on Monday, Meiwa International manager Takeo Tokunari said the technology provides.... Read more »

Posted on : Wednesday , 24th August 2016

South Africa: Trade and Industry On Biggest Automotive Investment in Africa

The Coega Development Corporation signs a historic R11 billion investment with the Beijing Automobile International Corporation (BAIC), the biggest automotive investment in Africa in the last 40 years The Coega Development Corporation (CDC), operator of the 11 500 hectares of the Coega Industrial Development Zone (IDZ), has successfully concluded a deal with BAIC of R11 billion for a completely knocked down (CKD) automotive.... Read more »

Posted on : Wednesday , 24th August 2016

South Africa: Platinum Producer Records Solid Performance

OPERATIONAL flexibility and stability, underpinned by sound strategy enabled Royal Bafokeng Platinum deliver strong operational and financial performance for the first half of 2016. Net revenue increased by 15,8 percent from R1,422 billion in the first half of 2015 to R1, 646 billion for the reporting period due to a 9 percent increase in the average rand basket price to R19 680 per platinum ounce in the first half of 2016,.... Read more »

Posted on : Wednesday , 24th August 2016

Oil & Gas Africa: Kenya Plans Oil Export By Mid Next Year

Kenya could be exporting 4,000 barrels of oil daily by mid next year, after President Uhuru Kenyatta led the country’s cabinet in approving the oil commercialization plan by the Ministry of Energy, on Thursday last week. The initial plan targets 2,000 barrels daily as the biggest economy in East Africa seeks to break away from her dependence on agriculture and tourism as the main foreign exchange earners. The crude oil.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya: Cabinet Okays Plans to Produce Crude Oil in Lokichar

A special Cabinet meeting on Thursday approved plans to start production of 2,000-4,000 barrels of crude oil in Lokichar that will be transported by both rail and road to Mombasa for refining. With the country getting ready to full commercial exploitation of oil, discovered in Turkana County by Tullow Oil in 2012, plans are in motion to establish business and infrastructure to market the product abroad. Therefore, the.... Read more »

Posted on : Wednesday , 24th August 2016

India turns to Africa to fuel its auto industry

Indian automakers are slowly tightening their grip on new car exports to Africa as they square off with China, Korea and Japan for opportunities in the continent. Multinationals from emerging economies are hungry to go global, and in the past decade have been racing to the continent to fuel their growth. While Africa still sources the bulk of its new vehicles from traditional markets in Europe and America, India has been making pronounced.... Read more »

Posted on : Wednesday , 24th August 2016

Group takes IT project to remote Tanzanian village

AN INTREPID group of explorers from Bala have set off to a remote Tanzanian village to help educate the locals. Adrian and Hilary Murray from Christ Church, Bala, are returning to the village of Milo in Tanzania this August with two more young people from Bala. Mael Evans will coach football to the Milo football team and children from the local primary school whereas Rhys Hughes from Llandderfel who, after a gap year at Coleg y.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: President Urges Fast-track of LNG Plant

President John Magufuli has directed the Ministry of Energy and Minerals to fast-track the construction of a Liquefied Natural Gas (LNG) plant in Lindi Region to cost 30 billion US dollars (65 trillion/-). "I want to see this project taking off, there have been a lot of unnecessary delays... just accomplish whatever is creating any bureaucracy so that our investors can begin the work with immediate effect," he.... Read more »

Posted on : Wednesday , 24th August 2016

Govt. to install six new radiotherapy machines

The Government is set to install six new radiotherapy machines to boost the treatment of cancer at Kenyatta National Hospital (KNH) and the Moi Teaching and Referral Hospital (MTRH). The expansion project, which will be completed before the end of 2017, will accelerate access to health care for cancer patients and ease the disease burden. At the moment the country has nine radiotherapy machines, three at KNH and four in the private facilities.... Read more »

Posted on : Wednesday , 24th August 2016

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