Market News Page No. 365| Africa Business News | Afrotrade

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Largest Water Project to be Constructed by Kenya in Semi Arid Land

Kenya is constructing the largest water project in semi arid area that will supply water and electricity to millions of residents, Water Cabinet Secretary Eugene Wamalwa has announced. Thwake Dam at the confluence of Thwake and Athi Rivers will supply water to over one million residents of Machakos, Makueni and Kitui counties as well as generate 20 megawatts of electricity to power Konza Tech City in Makueni County. largest.... Read more »

Posted on : Saturday , 27th February 2016

Tanzania Discovers More Gas on Ruvu Basin

Tanzania has made yet another discovery of natural gas reserves totalling 2.17 trillion cubic feet (tcf) along Ruvu Basin in Coast Region. The discovery has been made at a block operated by Dodsal Hydrocarbons and Power Tanzania Limited owned and chaired by UAE-based billionaire, Dr Rejan Kilachand. It brings the sum of proven natural gas reserves to 57.27 tcf in both offshore and onshore wells. Officials of the company.... Read more »

Posted on : Friday , 26th February 2016

Oryx Builds LPG Liquefaction Plant in Tanzania

Oryx Energies has commissioned the first LPG Cylinder liquefaction plant in Tanzania, a move that would boost supply of gas in the country. According to the company's Country Director, Mr Nick McAleer, the plant represents an investment of 1.5bn/-and is part of the company's significant growth plans for bringing Oryx Gas to all parts of the country. "Previously we used to send cylinders to Kenya for.... Read more »

Posted on : Friday , 26th February 2016

Eni gets approval for floating LNG Plant in Mozambique

Italy's Eni said on Wednesday it has won approval from the Mozambique government to build its planned Coral floating liquefied natural gas plant. The company, which aims to sell all the LNG from the plant to British oil company BP, is expected to make a final investment decision this year but has now overcome one of the biggest hurdles. The pace of development of giant gas export schemes has slowed globally as liquefied.... Read more »

Posted on : Thursday , 25th February 2016

Development of Special Economic Zone at Mombasa to Boost Business

The Kenyan government's approval of the development of a Special Economic Zone (SEZ) in Dongo Kundu, Mombasa, expected to boost job creation and regional trade, has been welcomed by business people. The Dongo Kundu bypass, which is part of a three-phase plan to decongest the port city of Mombasa, is set for completion in 2018. Eng. Jean-Baptiste Gasangwa, the Private Sector Federation (PSF) resident representative in Mombasa,.... Read more »

Posted on : Thursday , 25th February 2016

Kenya Among Most Promising Merger Markets in Africa

Kenya is among the most attractive target countries for merger and acquisition activity in Africa according to a new report by a business risk consultancy. Control Risks also names South Africa and Nigeria as other top countries in the continent where investors want to put their money. The report was produced after a survey that involved interviews with 100 merger and acquisition practitioners operating in.... Read more »

Posted on : Thursday , 25th February 2016

Kenya Food Security Project to Get Additional Funding from Israel

The Israeli firm contracted by Kenya to undertake trials for the Galana-Kulalu food security project will have get funding in the next few weeks. Green Arava had been facing cash flow problems that had delayed the project which was due to be completed in March this year. The government is pushing the firm to deliver the 10,000 acre model farm by July ahead of Prime Minister Benjamin Netanyahu's visit and Cabinet Secretary.... Read more »

Posted on : Thursday , 25th February 2016

Kenya County Seeking Sh142m Supplementary Budget for Health

The county government is asking the assembly to approve Sh142 million in its supplementary budget to cater for the health sector and salaries in the current financial year. House Budget committee chairman Moses Ndung'u confirmed on Wednesday that the amount is part of the Sh374 million supplementary budget that was forwarded to the committee by the executive last week. "We are going to sit before the end of this week to.... Read more »

Posted on : Thursday , 25th February 2016

EU funds �4.4m Zambia Power Project

The European Union (EU) has given Zambia 4.4 million Euros in a financial grant for the implementation of the electricity inter-connector project along with Kenya and Tanzania. Energy and Water Development Deputy Minister Charles Zulu said the three country-led power project was being funded by the EU in collaboration with the Common Market for Eastern and Southern Africa. Mr Zulu said the inter-connector project would help.... Read more »

Posted on : Wednesday , 24th February 2016

Tokyo-led Africa Development Summit to be hosted by Kenya in August

Kenyan President Uhuru Ken-yatta said Sunday the sixth Tokyo International Conference on African Development, which Japan cosponsors with the United Nations and the African Union, will be held in Nairobi on Aug. 27 and 28. Kenyatta made the announcement at a joint news conference with Katsuyuki Kawai, a special adviser to Prime Minister Shinzo Abe, in the Ethiopian capital of Addis Ababa. TICAD has been held in Japan every five.... Read more »

Posted on : Wednesday , 24th February 2016

Turkish Company to construct a US$ 400m peat-fired power plant in East Africa

A US$ 400m peat-fired power plant is set to be constructed in Southern Rwanda by a Turkish company, Hakan Mining and Generation Industry and Trade Inc. The 80MW power plant is under a power purchase agreement (PPA) signed by the Rwandan government. The agreement gives them the go ahead to design, finance, build, own and operate the plant using peat extracted from south Akanyaru in Gisagara District. Hakan’s.... Read more »

Posted on : Wednesday , 24th February 2016

Major dam in Kenya to be constructed

A major dam in Kenya dubbed the largest water project in the semi-arid area is set to be constructed that will supply water and electricity to millions of residents, Water Cabinet Secretary Eugene Wamalwa has announced. Thwake Dam at the confluence of Thwake and Athi Rivers will supply water to over one million residents of Machakos, Makueni and Kitui counties as well as generate 20 megawatts of electricity to power Konza Tech.... Read more »

Posted on : Wednesday , 24th February 2016

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