Market News Page No. 398| Africa Business News

Toshiba signs first MoU with TGDC for geothermal power generation

Japanese multinational Toshiba Corporation has concluded an MoU with the Tanzania Geothermal Development Company Limited (TGDC) to develop geothermal power in the East African nation geothermal simon pixabayTanzania has vast reserves of untapped geothermal energy, which Toshiba hopes to capitalise on. TDGC is the only organisation in Tanzania with geothermal exploitation rights, said Toshiba in a statement. The company’s.... Read more »

Posted on : Thursday , 17th December 2015

Uganda: Oil Companies Seek Local Content Fund

Ugandan companies within the oil and gas sector want government to set up a special local content fund to finance their growth in order to be at the forefront of winning some of the lucrative tenders the industry offers. The Uganda Association of Oil and Gas Service Providers argues that local companies require a lot of money to fully participate in the capital-intensive oil sector. Emmanuel Mugarura, the association’s head of.... Read more »

Posted on : Thursday , 17th December 2015

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 »