Market News Page No. 375| Africa Business News

Rwanda: Japan Pumps Rwf14 Billion into Energy Distribution Programme

The governments of Rwanda and Japan yesterday signed a financing agreement, worth $18.4 million (about Rwf14 billion), aimed at boosting electricity distribution networks in the City of Kigali. The funds will specifically be injected in the construction of Ndera substation and the Murindi and Kabuga power-switching stations, both in Gasabo District, according to Claver Gatete, the minister for finance and economic planning. The.... Read more »

Posted on : Thursday , 10th March 2016

Global Report : Attractiveness of Kenya's Mining Sector Slightly Up

The local mining sector’s attractiveness has slightly improved, according to the latest survey by Canadian think-tank Fraser Institute. The Fraser Institute 2015 survey has ranked Kenya 103 out of 109 jurisdictions that were covered. It was ranked 121 out of 122 in the 2014 report due to insecurity and ‘poor’ mining policies. ‘Poor’ policies especially the proposed mining.... Read more »

Posted on : Thursday , 10th March 2016

Uganda - Tanga Port Oil Pipeline Construction to Begin in August

Construction of the envisaged 4 billion US-dollar (about 8 trillion/-) pipeline to transport crude oil from Kabale in Uganda to Tanga Port is slated to commence in August, pending ongoing discussions between the two governments and investors. The Managing Director of Tanzania Petroleum Development Corporation (TPDC), Dr James Mataragio, said the 24-inch conduit to cover 1,403 kilometres is expected to convey 200,000 barrels of crude oil.... Read more »

Posted on : Thursday , 10th March 2016

Rwanda : Ethiopian Construction Works Corporation to Construct Irrigation Project

The Ethiopian Construction Works Corporation has taken its first overseas project as it finalized an agreement to construct an irrigation infrastructure development project in Rwanda. The Corporation organised a farewell ceremony for supervisors of the 3.6 billion Rwandan franc project, which is expected to have national as well as international impact. Hailemeskel Tefera, CEO, stated that this counts as a first step in the.... Read more »

Posted on : Thursday , 10th March 2016

ZPC, Intratrek Sign U.S$128 Million Hydro Power Project Deal

Energy projects developer Intratrek Zimbabwe and its Indian technical partners last Friday signed a contract for construction of the long-awaited 30 megawatt Gairezi Hydro Power Project with Zimbabwe Power Company. The engineering, procurement and construction contract was signed between Intratrek and its Indian technical partners Angelique International, Bharat Heavy Electricals Limited and ZPC for a cost of $128 million. The State.... Read more »

Posted on : Wednesday , 9th March 2016

Zambia to Get Additional 120MW Power

PRESIDENT Edgar Lungu has commissioned the newly-constructed Itezhi-Tezhi Hydro-power Station with assurance that Government remains committed to mitigating the current power deficit caused by global and natural factors. The 120 megawatts (MW) station was built at a cost of US$142 million. Mr Lungu said despite some challenges the country was facing, the Patriotic Front (PF) administration was committed to making Zambia an.... Read more »

Posted on : Wednesday , 9th March 2016

German Solar Firm to Make Foray into Kenya

Nairobi — A German solar company, Mobisol, has made a foray into the Kenyan market to tap into the huge potential for electricity as demand for off-grid power solutions in East Africa continues on steep rise. "We are going to partner with telecommunication companies to ensure all Mobisol solar systems can be purchased through convenient payment plans via leading mobile money providers," Mobisol Chief Executive Officer,.... Read more »

Posted on : Wednesday , 9th March 2016

Access to Construct Solar Power Plant in Uganda

KAMPALA, UGANDA - Access Uganda Solar Limited, a partnership between Access Power and EREN RE, will build the 10MW solar PV project in Soroti, Uganda writes SAM OKWAKOL. Soroti is situated 300 kilometres northeast of Kampala, Uganda’s capital city. According to sources, the 10MW plant will provide clean, low-carbon, sustainable electricity to 40,000 homes and businesses in the area. The project is.... Read more »

Posted on : Monday , 7th March 2016

Dar-es-Salaam Earmarks 343bn for Construction of Roads, Maintenance Projects

Dar es Salaam Regional Road Board has earmarked 343bn/-for road construction and maintenance projects for the 2016/17 fiscal year, being an additional of 266bn/- in comparison to the previous budget. Dar es Salaam Regional Commissioner (RC), Mr Saidi Meck Sadiki, said in Dar es Salaam that the region will in the next financial year start implementing the Dar es Salaam Metropolitan Development Programme (DMDP). "The.... Read more »

Posted on : Saturday , 5th March 2016

Significant scope for Africa's agriculture to benefit from India's experience

India Inc. has said that with Africa's farm sector projected to grow to $1 trillion by 2030, there is significant scope for the continent's agriculture to benefit from India's experience. In a forward to a global accounting firm PricewaterhouseCoopers (PwC) report on agricultural partnership between India and the 54-nation continent, the secretary general of the Federation of Indian Chambers of Commerce and Industry (FICCI), A.Didar.... Read more »

Posted on : Saturday , 5th March 2016

Priority area in China-Africa relations - Agriculture

Agriculture has been identified by Africa as a priority development area in the China-Africa strategic partnership. The agricultural sector is regarded as an engine for socio-economic development in most African countries. According to the African Union (AU), agriculture accounts for about one-third of the continent’s Gross Domestic Product (GDP), and more than two-thirds of its citizens rely directly on the sector for their.... Read more »

Posted on : Saturday , 5th March 2016

Atkins Targets East Africa Projects With Buyout of Multidisciplinary Consultancy

Atkins announces the acquisition of Howard Humphreys East Africa Limited Group, a multidisciplinary consultancy based in Kenya and Tanzania, which employs around 200 people. This move marks a significant step for Atkins providing a geographic expansion into the Africa market as a locally-based company. We expect the transaction to complete in approximately three months. Howard Humphreys has been operating in the region since 1931 and supports.... Read more »

Posted on : Saturday , 5th March 2016