Market News Page No. 432| Africa Business News | Afrotrade

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Mass Rapid Transit System in Kenya gets green light

Construction of the Mass Rapid Transit System in Kenya which will cost US$ 4m is set to be launched in the capital Nairobi and will be fully funded by the National Treasury. The acting Director-general of public debt management at the Treasury, Jackson Kinyanjui confirmed the reports and said that the Ministry of Transport and Infrastructure accepted the proposal for the allocation of US$4m for the construction of the Mass.... Read more »

Posted on : Monday , 12th October 2015

AfDB boosts construction of new terminal at Kotoka International Airport in Ghana

The construction of new terminal at Kotoka International Airport in Ghana has received a major boost after the African Development Bank (AfDB) announced that it had approved a $120 million corporate loan to finance Ghana Airports Company Limited’s (GACL) capital investment programme. The loan is expected to help in the construction of a new terminal at Kotoka International Airport (KIA) in Ghana capital Accra, and the rehabilitation of.... Read more »

Posted on : Friday , 9th October 2015

Petra Diamonds injects US$22 million into Mwadui mine operations

Petra Diamonds has earmarked US$22 million for capital spending in two years at its Williamson mine at Mwadui in Shinyanga, which last fiscal year produced 202,265 carats, The Guardian has established. Reliable sectoral sources said US$17 million will be injected into the operation in the current financial year, which started this June. The remaining US$5 million for capital expenditure (capex) will be used in the 2017/18 financial.... Read more »

Posted on : Friday , 9th October 2015

Tigo enter deal to expand 4G mobile network rollout

The uniqueness of this partnership is that it creates one of Africa’s first ever Data Virtual Network Operators (DVNO), allowing UhuruOne to expand its wireless broadband data service nationwide. DVNO means that UhuruOne will share both capacity and network resources with Tigo’s 4G LTE data network enabling its customers to use their data enabled devices to access super-fast 4G speed. Commenting on the partnership.... Read more »

Posted on : Friday , 9th October 2015

Tanzania: Black Rock Mining Hits Graphite Heights with Best Ever Results At Mahenge

Are underrated reserves the saving grace of the Australian mining sector? This appears to be so with the latest opportunities to revive the badly-hit industry in the midst of the country’s economic crisis. Proactive Investors Australia reported that a 7,000-metre, high-impact reverse circulation drilling program started at eastern Laverton in Western Australia. Miners will be drilling prospective holes from the mine, especially those.... Read more »

Posted on : Friday , 9th October 2015

Tanzania President set to launch Gas Processing Facility and Pipeline at Mtwara

Tanzania President Jakaya Kikwete is this week expected to launch gas processing facility and pipeline from Mtwara through Songo songo to Dar es Salaam according to Tanzania Petroleum Development Corporation (TPDC) managing director Dr. James Mataragio. According to Mataragio construction works are already complete with pumping of gas already ongoing between Mtwara and Dar es Salaam.Already preparation activities for the launch are ongoing.... Read more »

Posted on : Friday , 9th October 2015

Africa: Calls for Industrialisation

"History is built around achievement and creation; and nothing was created in the West Indies" - VS Naipaul. The Trinidad-born Nobel Prize-winning British writer VS Naipaul's observation should serve as a reminder to many African societies who should know by now that history is usually hinged on creation. Why then has industrialisation which should normally be the buzzword for Africa considering that the.... Read more »

Posted on : Friday , 9th October 2015

East Africa: Get 38 tonnes of seeds distributed in semi-arid regions

The county government has started distributing over 38 tonnes of maize, millet, sorghum and cowpeas to farmers in Mbeere North and Mbeere South. Governor Martin Wambora said the exercise will enable more farmers to access the input thus help to improve agricultural production in the county. He said they are providing residents with subsidized fertilizers and certified seeds so as to boost crop production in the region and move away from.... Read more »

Posted on : Friday , 9th October 2015

Africa now begins to attract health and wellness professionals

Viva Gym, a low-cost fitness franchise, will open its fourth club this October at The Zone in South Africa .This further expands the popular Centre’s offering to customers in the heart of Johannesburg’s most cosmopolitan commercial and residential suburb. “Like Sandton, we’re increasingly positioning ourselves as a one-stop eat, sleep and work destination,” says Anton Bieber, Old Mutual Properties.... Read more »

Posted on : Friday , 9th October 2015

Tender for 3 MW in-pipe hydropower scheme in South Africa to be issued

Tender for the 3 MW in-pipe hydropower scheme in South Africa is set to be issued by Johannesburg city, Johannesburg Executive mayor Parks Tau who first mooted the scheme has announced. Its cost competitiveness is likely to challenge Eskom’s Megaflex tariff. Mr Tau announced the progress during the Association of Municipal Electricity Utilities conference assuring attendants the city’s intention of harnessing energy from.... Read more »

Posted on : Friday , 9th October 2015

Africa banking on nuclear power

It’s no secret that Africa’s economic development has been stifled by the shortage of electricity across the continent. The Africa Progress Report 2015 puts theannual electricity-related economic loss at 2 percent to 4 percent of GDP. In Ghana and Tanzania, electricity shortages are costing businesses 15 percent of sales. Over 600 million people are getting restless waiting for power. South Africa alone accounts for 50 percent of.... Read more »

Posted on : Friday , 9th October 2015

Tanzania: Mahindra to Open Tractor Factory in Zanzibar

Mahindra company from India is planning to open a tractor assembling plant here, Zanzibar President, Dr Ali Mohamed Shein, revealed here yesterday. Dr Shein said negotiations with the Indian company were currently going on. He also disclosed that his government would also purchase 100 tractors from the company to improve agriculture in the Isles. "Mahindra is one of the biggest companies globally and its expected branch in.... Read more »

Posted on : Thursday , 8th October 2015

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