N e w s

FG Proposes N6 Trillion Budget for 2016, Sets U.S.$38 a Barrel Oil Benchmark

The Federal Government has proposed a budget estimate of N6 trillion for 2016 with $38 per barrel crude oil price benchmark.   This was the outcome of a three-hour emergency meeting of the Federal Executive Council (FEC) chaired by President Muhammadu Buhari today.   Addressing State House correspondents after the meeting, Budget and National Planning Minister Udoma Udo Udoma, said the government was looking at.... Read more »

Posted on : Thursday , 10th December 2015

Egypt: Petroleum Min. Witnesses Signing 2 Deals for Oil, Gas Exploration

Minister of Petroleum and Mineral Wealth Tarek el-Mollah witnessed on Monday 7/12/2015 the signing of two agreements for gas and oil exploration in the Suez Gulf region and Western desert.   The first agreement was signed with Tunisia's HPS Company with investments amounting to $9 million and signing grant of $1 million in Halif district in Egypt's western desert to dig out four oil wells.   The second agreement extends a previous.... Read more »

Posted on : Thursday , 10th December 2015

Mercedes Benz latest to capitalise on African auto policy

 Mercedes Benz is gearing up to begin the assembly of mini buses and ambulances in Nigeria, in an attempt to draw benefits from the country’s automotive policy mercminibus CanadianPacific flickrAccording to Uwatse, Nigeria needs mini buses and ambulances.  The company’s managing director in Nigeria Benson Uwatse said the country could benefit greatly from the current automotive policy, and that it required ambulances as.... Read more »

Posted on : Thursday , 10th December 2015

Tanzania signs US$400mn deal with Japan for road projects

 Tanzania has signed a deal with Japan for nearly US$400mn to develop major roads in the country road jbdodane flickrImproving the quality of roads in Tanzania is a primary concern for JICA and the country's transport authorities. The Japan International Cooperation Agency (JICA), on behalf of the Japanese government, will provide the money. Along with the African Development Bank (AfDB), JICA will improve a 230 km-long.... Read more »

Posted on : Thursday , 10th December 2015

Shopping Center in Africa installs solar panels on rooftop

 Deville Shopping Centre in South Africa now boasts of 1,206 highly efficient solar panels on its rooftop.   The solar panels will supply just about 8% of the centre’s electricity requirements. The project was managed by Spire Sustainable Solutions on behalf of the Tower Property Fund who owns De Ville. Deville Shopping Centre in South Africa becomes one of numeral shopping malls that have embraced solar panels on.... Read more »

Posted on : Thursday , 10th December 2015

MOZAMBIQUE IN $210 MILLION GAS PIPELINE EXPANSION TO INCREASE CAPACITY

ROMPCO the Republic of Mozambique Pipeline Investments Company has said  it will expand the capacity of the existing 865 km of gas pipeline from the Central Processing Facility (CPF) at Temane in Mozambique to Secunda in South Africa. The project involves the installation of a pipeline parallel to the existing pipeline, from scraper station 1 (STS1), which is about 128 km from the CPF, over a length of 127 km where it connects back into.... Read more »

Posted on : Wednesday , 9th December 2015

Power generation in East Africa to double in three years’ time

Power generation in Uganda will nearly double in the next three years, Benon Mutambi, chief executive officer of the state-run Electricity Regulatory Authority (ERA) has announced. The move comes following reforms by Uganda that has boosted investment by independent power producers and development group. Benon Mutambi, says that the government has been working to improve the regulatory and policy environment aimed at luring investors. Once.... Read more »

Posted on : Wednesday , 9th December 2015

Kenya and Ethiopia Sign Cross-Border Agreement

Kenya and Ethiopia have signed a UN-backed trade deal worth $200m (£130m) in a bid to ease cross-border conflict. President Uhuru Kenyatta and Prime Minister Hailemariam Desalegn agreed the deal in the border town of Moyale. The deal aims to tackle youth unemployment by creating jobs in the energy, mining and livestock industries. Tensions between rival ethnic groups have risen due to lack of land and water. There was a heavy.... Read more »

Posted on : Wednesday , 9th December 2015

Tanzania: Dar Keen on Transparency in Mining, Gas Deals

According to reports published by the Tanzania Extractive Industries Transparency Initiative (TEITI) revenues earned included tax, levies, royalties and other charges. TEITI is a multi-stakeholder initiative that aims to increase transparency and accountability in the extractive industries in Tanzania. The government is committed to the principles and criteria of the Extractive Industries Transparency Initiative (EITI), a global standard for.... Read more »

Posted on : Wednesday , 9th December 2015

Africa’s DoE embarks on solar geyser procurement

 The South African Department of Energy (DoE) has issued the request for bids of solar water heater systems as part of a national solar geyser roll-out.   The systems are to be procured in phases and with a number of them having been installed under a rebate scheme previously administered by Eskom, the plan envisions raising the total installed base to 1.75-million by procuring a total of 1.25-million systems by 2019.   Solar.... Read more »

Posted on : Wednesday , 9th December 2015

Africa to add 3 GW of power to national grid

 Egypt says it will add 3 GW of power to national grid in the coming year in a bid to reduce power deficit facing the country Power.   This comes barely after the country’s business community called for quick response to the current unending power shortages that have hampered heavy industry in recent years, the electricity minister said on Sunday.   Falling oil and gas production coupled with rising consumption have.... Read more »

Posted on : Wednesday , 9th December 2015

Construction industry in Africa to grow by 8% in 2016 says report

 Construction industry in Egypt  has been projected to grow by eight per cent in 2016 after an estimated 9.8 per cent in 2015, the Egyptian Ministry of Finance has reported. The report reveals that the growth due to the steady support of the sector by public private partnerships (PPPs) and the growing infrastructure project pipeline in the country reinforce our positive outlook for Egypt’s construction industry in 2016, said a.... Read more »

Posted on : Wednesday , 9th December 2015



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