Market News Page No. 417| Africa Business News | Afrotrade

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TIB Bank gives energy sector big boost

SUBSTANTIAL investment in the energy sector is set to increase electricity generation to make history the long overdue power blues that have been contributing to cost of doing business. TIB Development Bank entered into a deal with the state owned Power Company (TANESCO) to release and arrange a syndicated loan aimed at putting new infrastructure, the transmission line from Somanga in Kilwa to Kinyerezi in Dar es Salaam. In the lucrative deal,.... Read more »

Posted on : Thursday , 29th October 2015

Production at Mwadui diamond mine up

WILLIAMSON Diamond Mine, the subsidiary of Petra Diamonds, production rose by 7 per cent in the year 2015 to 202,265 carats compared to 188,465 carats in 2014, mainly due to the increase in Run of Mine (ROM) tonnes treated. According to the Petra Diamonds Annual Reports and Accounts, revenue increased 15 per cent to 62.1 million US dollars in the year under review compared to 53.9 million US dollars posted in 2014 due to the higher proportion.... Read more »

Posted on : Thursday , 29th October 2015

JKT, Polish firm to build tractor assembly plant

THE National Service economic wing (SUMA-JKT) and a Polish firm Ursus S.A signed a US $55 million deal for tractor supply and construction of an assembling plant. The signing held at National Service (JKT) Headquarters was witnessed by Prime Minister Mizengo Pinda and former Polish president Lech Walesa, who is also a Nobel Laureate. Premier Pinda said the deal was the outcome of his last year's visit to Poland where the east Europen country.... Read more »

Posted on : Thursday , 29th October 2015

Korean firm to build graphite plant

SOUTH Korean engineering firm, POSCO, may build and help arrange financing for a graphite project in Tanzania being developed by Magnis Resources, as the Australian explorer races to start production from the east African site by 2017. Demand for graphite is expected to soar as it is a major ingredient in lithium-ion batteries for hybrid vehicles and wind and solar energy storage, with appetite for greener transport and energy booming. Magnis,.... Read more »

Posted on : Thursday , 29th October 2015

Gold exports reach $3 billion per year

Sudan is one of Africa’s largest gold producers; and a vast resevoir of untapped resources provide further golden opportunities for investors in mining The secession of South Sudan has proven to be the catalyst Sudan needed to revitalize its economy, the country’s State Minister for Investment Osama Faisal Elsayed Ali states. Since 2011, the country has embarked on a bold strategy of diversification away from oil, and towards.... Read more »

Posted on : Thursday , 29th October 2015

Improving Competitiveness of Manufacturing in Kenya

World Bank reports released today underline the way to improving the competitiveness of key manufacturing sectors in Kenya. Analysis shows that the performance of the timber-furniture, textile-apparel, and leather and leather products value chains in Kenya are important for employment and growth in the country. The reports provide an updated and comprehensive analysis of competitiveness for these manufacturing sectors in Kenya..... Read more »

Posted on : Thursday , 29th October 2015

Norwegian firm Scatec begins plans to construct solar plants in Africa

Norwegian firm Scatec has begun plans to construct 250MW capacity solar plants in Egypt aimed at boosting electricity production in the country. The mega construction project is being carried out at two sites in Benban and Zafarana in Egypt as the first steps to the development of solar plants in the country. Norway’s Scatec Solar has commenced activities on two sites in Egypt as it prepares the ground for the.... Read more »

Posted on : Thursday , 29th October 2015

Kenya now banks on solar power to boost electricity supply

Kenya now banks on solar power in a bid to meet its electricity demand. The country will now be focusing more on solar energy to boost its 5,000MW increase on the grid by 2016,the Energy and Petroleum ministry has announced. Speaking at a press briefing in Nairobi,Energy Principal Secretary, Mr. Joseph Njoroge said that his Ministry was working on several proposals from solar investors before inking any deal with Kenya.... Read more »

Posted on : Thursday , 29th October 2015

FISCAL REVISIONS MAY UNLOCK SUB-SAHARA AFRICA�S 48 BILLION BARRELS OF DISCOVERED OIL

Wood Mackenzie asserts that the oil price crash has accelerated the need for fiscal adjustments, as Sub Sahara African governments prepare to weather significant reductions in vital tax revenue. With no increase expected in production volumes, future revisions will need to strike the right risk and reward balance – incentivising investors to commercialise the continent’s vast untapped resource base. According to the analysis.... Read more »

Posted on : Wednesday , 28th October 2015

Coffee prices rise on export demand

Tanzania’s average arabica coffee prices rose at the Moshi auction last week, buoyed by strong demand from exporters and higher New York markets, the Tanzania Coffee Board (TCB) said. Tanzania, which ranks behind Ethiopia, Uganda and Ivory Coast in terms of output on the continent, mainly produces arabica and a bit of robusta coffee. Prices of Tanzania’s arabica normally track the New York market while those of robusta take their.... Read more »

Posted on : Wednesday , 28th October 2015

African Business in the World-Class Space

Africa is a continent on the move. This Fall Frontier 100 Forum celebrates the dynamism and growing importance of African business — not only on the continent — but also in the global sphere. The rising influence of homegrown African businesses in the global economy reflects the changing realities on the ground. In 2014, Africa accounted for 9 of the world’s 15 fastest-growing economies. Some 26 of Africa’s 54.... Read more »

Posted on : Wednesday , 28th October 2015

Africa: Harnessing Foreign Direct Investment

Dubbed the new investment frontier, Africa’s attractiveness is becoming more visible to large corporations, institutions and investors. Reflecting this, foreign investment (FDI) flows have grown exponentially since the turn of the millennium. Countries such as South Africa, Nigeria, Kenya, Egypt and Morocco are leading the way. High growth economies such as Zambia, Ghana, Tanzania and Mozambique are also becoming.... Read more »

Posted on : Wednesday , 28th October 2015

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