Market News Page No. 411| Africa Business News | Afrotrade

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Tanzania: Nyota Mulls Spinning Off Mineral Business, Investing In Other Sectors

Nyota Minerals Ltd Monday said there is an opportunity “now more than ever” to acquire new projects and to pounce on opportunities that can generate near-term revenue and said it is considering investing in other sectors and potentially spinning off its mineral business in the future. Nyota currently has a nickel and copper project in Italy and further exploration in Ethiopia but revealed the potential diversification plans ahead.... Read more »

Posted on : Tuesday , 1st December 2015

Construction of major hydro-power project in Africa launched

Zambia has begun the construction of what it says is a major hydro-power project aimed at boosting the country’s electricity generation capacity. The construction of 750 megawatts Kafue Gorge Lower Hydro-power project in Zambia begins following the signing of a memorandum of understanding between Zambia and China. The hydro-power project in Zambia, to be situated in the south of the country-about 90 kilometers from Lusaka, will.... Read more »

Posted on : Tuesday , 1st December 2015

Construction of major hydro-power project in Africa launched

Zambia has begun the construction of what it says is a major hydro-power project aimed at boosting the country’s electricity generation capacity. The construction of 750 megawatts Kafue Gorge Lower Hydro-power project in Zambia begins following the signing of a memorandum of understanding between Zambia and China. The hydro-power project in Zambia, to be situated in the south of the country-about 90 kilometers from.... Read more »

Posted on : Tuesday , 1st December 2015

Safaricom in Kenya Ties in MTN Rwanda

Nairobi — Safaricom has partnered with MTN Rwanda to offer mobile money transaction for M-PESA customers in Kenya and Rwanda. The partnership will see customers send and receive money from both countries through Mpesa platform. This is the second partnership of its nature this year, after Safaricom partnered with Vodacom Tanzania to introduce cross-border transaction between customers on the respective.... Read more »

Posted on : Monday , 30th November 2015

Rio Tinto Approves $1,9bn Bauxite Mine

Rio Tinto has given a go-ahead to a $1,9 billion project to build an Australian bauxite mine, defying a deepening commodities downturn. The investment is the largest that Rio has approved for more than two years, a period when global miners have slammed the brakes on spending following a surge in capital expenditure when they tried to take advantage of rising commodity prices. The wave of mining investment that peaked in 2012 has left.... Read more »

Posted on : Monday , 30th November 2015

Kilimanjaro Airport Upgrade to Double Its Capacity

The upgrade of Tanzania's second largest airport, Kilimanjaro International Airport, is underway. It is expected to give KIA the capacity to handle more aircraft and passengers. The makeover, which started last week, will see all runways, apron, taxiways and passenger lounges modernised. Project engineer Mathew Ndossi said that the $39.7 million expansion works, set to be completed in May 2017, will enable the airport to handle.... Read more »

Posted on : Monday , 30th November 2015

Japan Pledges to Finance Hurghada Solar Power Plant

Egypt's Ambassador to Japan Ismail Khairat said that Japan pledged to finance a solar power plant in Hurghada at a cost of $100 million. In a statement, the foreign ministry said that the agreement was reached during the recent visit paid by Foreign Minister Sameh Shoukry to Japan. That cooperation, the first of its kind between Egypt and Japan in this field, opens new horizons for taking advantage of the advanced Japanese.... Read more »

Posted on : Monday , 30th November 2015

R144 Million Transformer Installed in Acornhoek

Eskom has installed a R144 million transformer in Arconhoek in a bid to ensure reliable power supply to the communities in rural Bushbuckridge local municipality, Mpumalanga. Eskom spokesperson, Khulu Phasiwe said the commissioning of a new transformer at the Acornhoek substation is part of the power utility's continuing drive to upgrade its electricity infrastructure. "The commissioning of this transformer forms part of.... Read more »

Posted on : Monday , 30th November 2015

Transcorp Ughelli Power Limited Becomes Transcorp Power Limited

Transnational Corporation of Nigeria Plc (Transcorp) yesterday announced the successful merger of its two power subsidiaries Transcorp Ughelli Power Ltd and Ughelli Power Plc. The merged companies are now a single entity called Transcorp Power Limited. This is a significant milestone in the corporate history of Transcorp. The merger was designed to harmonize the management and operations of Transcorp's power business for.... Read more »

Posted on : Monday , 30th November 2015

Paris Power Firm Comes Up With U.S.$2 Million Deal for Tanzania

Dar es Salaam — Energy Access Ventures (EAV), a Paris-based investment firm that backs entrepreneurial companies that bring access to electricity in sub-Saharan Africa, has announced its inaugural $2 million investment in Off-Grid Electric (OGE) which has offices in San Francisco, California (USA) and Arusha in Tanzania. OGE generates solar power and then distributes the electricity to rural households that are mostly far from the.... Read more »

Posted on : Monday , 30th November 2015

Africa Inks Three Gold & Mineral Prospection Agreements

The Sudanese ministry of mining Sunday signed three agreements with national and foreign firms for the prospection of gold and other minerals in the Northern state, the states of South Kordofan and the Red Sea. The first agreement was signed with the Italian Kobe International to prospect in the locality of Dalgo in the Northern State. The second agreement was signed with Bizil company to prospect in South Kordofan while the third agreement.... Read more »

Posted on : Monday , 30th November 2015

Oil Firm Wants Tanzania Favours

The government has been asked to consider reviewing the current Production Sharing Agreement (PSA) system to make exploration and related activities within awarded licences more realistic. “We understand that the nation needs tax revenues, but I think it is counterproductive to tax operations if by taxing them, they are delayed or made more expensive.Tthe returns from operations will dwarf any revenues that the country may make.... Read more »

Posted on : Monday , 30th November 2015

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