Market News Page No. 395| Africa Business News | Afrotrade

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Tullow Finds Oil in Etom-2 Well in Northern Kenya

Tullow Oil PLC said an exploratory well drilled in the South Lokichar basin in northern Kenya encountered 102 m of net oil pay in two columns. The Etom-2 well, on Block 13T, was drilled to 1,655 m by the PR Marriott Rig-46 (OGJ Online, Nov. 17, 2015). Drilling followed evaluation of 3D seismic that was shot after the Etom-1 well (OGJ Online, Sept. 3, 2014). Tullow said oil samples, sidewall cores, and wireline logging all indicate the.... Read more »

Posted on : Thursday , 17th December 2015

Textile Sector - a Centerpiece for East Africa's Industrial Development

Since 1950s, the prevalence of the global textile industry, in response to global economic movement, had shifted from Japan, to Korea, Taiwan and other Asian countries. But the trend shifted to China and India since the 1990s. As per the World Bank Group Trade and Competitiveness (WBG), textile and apparel companies continue to look for business opportunities under the constant cost pressures. Recently, East Africa has been.... Read more »

Posted on : Thursday , 17th December 2015

Construction of top notch expressway in East Africa launched

Ethiopian Roads Authority has begun the construction of what it says will be a major expressway which, upon completion in five years, will help ease traffic that has been forecast for the next 21 years. The country says in 21 years time the population would have increased significantly and that there was need to boost roads in urban areas. The construction of expressway in Ethiopia has been in the pipeline for years. The.... Read more »

Posted on : Thursday , 17th December 2015

Kenya Power to Spend Sh6b on Expansion of Electricity Distribution Network

Kenya Power and Lighting Company has secured a Sh6 billion loan from the French Agency for Development (AFD) to finance expansion of the electricity distribution network. The expansion, which will take place in Mombasa, Kisumu and Nairobi, is expected to boost KPLC's reliability and translate into reduced power outages. "The financing, the first of its kind, is a clear indication that Kenya Power has come of age to.... Read more »

Posted on : Wednesday , 16th December 2015

Chicol Estates Trying Out Thermal Power

CHICOL Estates, an integrated poultry farm in Lusaka's Twin Palm area, has embarked on a thermal power plant feasibility study which will result in electricity generation from chicken droppings. Estate director Aaron Chungu said there are plans to set up a thermal power plant using chicken droppings at the farm. "We have plans to set up a thermal power plant at the farm to start producing electricity in view of the serious.... Read more »

Posted on : Wednesday , 16th December 2015

Alliance to Increase Rwanda Internet Uptake

Kigali — MTN Rwanda has launched a sponsored data service in partnership with mobile solutions provider, U2opia Mobile, in an effort to increase internet uptake in the country. Powered by Fonepass, U2opia Mobile's sponsored data platform is meant for subscribers with limited or no access to the internet, enabling them to explore the world of data and unlock its value at no cost for them. An open marketing platform,.... Read more »

Posted on : Wednesday , 16th December 2015

Ericsson to Collaborate With MNOs to Drive VoD Market in Kenya

Ericsson is working closely with mobile operators in Kenya to begin the roll out of NuVu an end to end subscription Video on Demand content service. Kenya will be the second country Ericsson looks into launching NuVu after Nigeria where plans are underway to have the product launched in Q1 of 2016 in partnership with Airtel Nigeria to Airtel's over 30 million subscribers. Ericsson, however, did not disclose when they will launch the.... Read more »

Posted on : Wednesday , 16th December 2015

Gov't Determined to Make East Africa a Manufacturing Hub

NQI outstanding performers received certificates Deputy Prime Minister Demeke Mekonnen said that the emphasis on GTP II is on quality, productivity and competitiveness of micro and small enterprises. The National Quality Infrastructure (NQI) institutions will play a critical role with the support of the Ministry of Science and Technology taking on an increasingly leading role as the main actor and champion of quality.... Read more »

Posted on : Wednesday , 16th December 2015

Heavy Investment in Africa's Lubricant Industry

A professor with the Rivers State University of Science and Technology, Port Harcourt, Steve Odi-Owei, has called for heavy investment in the production of quality lubricant in the country. The professor, who spoke on "Human Capital Development and Capacity Building in Lubricant and Lubrication at the Nigerian Lubricant Summit in Lagos recently, said that this would support effective operations of the manufacturing, marine,.... Read more »

Posted on : Wednesday , 16th December 2015

President Magufuli: Development of Tanzania�s construction industry

President Magufuli will soon have to tackle issues facing Tanzania’s construction industry and as the immdiate past Minister for Works Magufuli has his job cutout for him The 5th President of the Republic of Tanzania has already endeared himself to the general population and indeed the rest of Africa with his no-nonsense fight against corruption. This comes in the shadow of what many see as a crippling vice in Africa that.... Read more »

Posted on : Wednesday , 16th December 2015

Kenyan Coffee Brands in Global Top 30 Most Popular List

Four Kenyan coffee brands are among the top 30 most sought after by coffee lovers in the world. Announcing its list of the world's rarest Top 30 Coffee for 2015, Coffeereview.com's editor and lead taster Kenneth Davids said that the analysis took place in America since all the tasting facilities and 27 of the best coffee roasters were based there with the other three roasters being based in Canada, Taiwan and China. Kenya.... Read more »

Posted on : Tuesday , 15th December 2015

Nigeria: Banking Sector Plans Fresh N300 Billion Agriculture Financing for 2016

A new window of opportunities may have been opened up in the nation's agriculture sector, with a pledge of N300 billion fresh financing of the economic segment and its value chains in 2016 by the Bankers' Committee. Besides, the earlier plans by the Central Bank of Nigeria (CBN) to create about one million jobs through small businesses' development and support by lending at "ridiculously" lower interest rate to graduates got.... Read more »

Posted on : Tuesday , 15th December 2015

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