Market News Page No. 443| Africa Business News | Afrotrade

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Magnis Resources� Nachu project offers superior expandable graphite

The graphite from ASX-listed junior Magnis Resources’ Nachu graphite project in Tanzania is demonstrating very good crystal properties in the ore and the products derived from it, attaining high specifications in a range of applications. With natural graphite, the quality of the flake in ore is an important determinant in the quality of products generated from it, a quality inherent in Nuchu’s graphite. With the granting of a.... Read more »

Posted on : Wednesday , 14th October 2015

Rwanda: New Energy Saving Stove to Protect Environment

During the just concluded Technical and Vocational Education and Training (TVET) expo at Gikondo in Kigali, many visitors crammed around one stand marvelling at 'magical' stoves. These were not ordinary stoves as they are powered by only one piece of charcoal, hydrogen, and are connected to electricity or four radio batteries using a phone charger. "Considering daily feeding needs of a family, school fees, rent and other.... Read more »

Posted on : Wednesday , 14th October 2015

SPB Finally Awards 300mw Solar Tenders

THE State Procurement Board has finally awarded tenders for solar power projects with a combined output of 300 megawatts to three firms. The long awaited solar projects, each with capacity for 100MW, were awarded to Intratrek Zimbabwe (Gwanda), ZTE Corporation (Insukamini) and Number 17 Metallurgical China (Munyati). This brings finality to the protracted evaluation of the multi-million dollar solar energy initiatives. Well placed.... Read more »

Posted on : Wednesday , 14th October 2015

Ethiopia will boost power generation to 17,000 MW in five years

Implementing its second Growth and Transformation Plan (GTP II) in the coming five years, Ethiopia will endeavor to boost its power generation to at least 17,000 MW, said Ethiopia’s President Mulatu Teshome. Having completed the implementation of its first GTP, the East African country in September launched the second GTP, which the president said is a decisive chapter in the country’s development, designed to realize the first half.... Read more »

Posted on : Wednesday , 14th October 2015

Tanzania President Kikwete inaugurates new Mtwara gas project

Tanzanian President Jakaya Kikwete has officially inaugurated a 535-kilometer Mtwara to Dar es Salaam gas pipeline built with a 1.225-billion-U.S.-dollar concessional loan from the Export-Import Bank of China. The construction of the gas pipeline that transports natural gas from Tanzania’s southern region of Mtwara to the commercial capital Dar es Salaam started in June 2013 and was undertaken by China Petroleum Technology and.... Read more »

Posted on : Wednesday , 14th October 2015

East Africa foreign investments grow by 11 per cent

Foreign Direct investment (FDI) in East Africa grew by 11 percent between 2013 and 2014 buoyed by regional integration, an economic insight reveals. The report released by the Institute of Chartered Accountants in England and Wales (ICAEW) received in Nairobi attributes surge in FDI in the region to efforts for closer regional integration in the East African Community (EAC), which has involved harmonizing investment regulations across the.... Read more »

Posted on : Wednesday , 14th October 2015

East Africans planning to fast track integration of capital markets

The East African Community (EAC) member states are fast tracking the integration of the capital markets in order market the region as a single investment destination, Kenyan officials have confirmed. The Capital Markets Authority (CMA) Acting CEO Paul Muthaura said there is a clear road map for the harmonization of legal frameworks of the five EAC member states. "The first batch of seven EAC Council of Ministers directives have.... Read more »

Posted on : Wednesday , 14th October 2015

Tanzania Moves to Bring Dar es Salaam Port Services Closer to Rwandan Traders

Rwandan traders are set for early Christmas after the Tanzania International Container Terminal (TICTs) announced that it will open a country liaison office in Kigali before the end of the year. This is in a bid to bring the Dar es Salaam port services closer to traders in Rwanda. The announcement was made last week, in Kigali, by Paul Wallace, the chief executive of TICTS, a private company that handles 80 per cent of the Dar.... Read more »

Posted on : Tuesday , 13th October 2015

Tanzania: Mahindra to Open Tractor Factory in Zanzibar

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.... Read more »

Posted on : Tuesday , 13th October 2015

Chinese Steel Manufacturer Expresses Confidence in Buhari's Govt

The management of HongXing Steel Company, a Chinese steel manufacturing company based in Lagos, has expressed confidence in the President Muhammadu Buhari's government. Speaking during a factory tour at the company in Lagos at the weekend, the Managing Director of HongXing Steel Company, Mr. Andy Hu, urged Nigerians to support the federal government in its bid to diversify the economy. Hu, pointed out that with the drop in crude oil.... Read more »

Posted on : Tuesday , 13th October 2015

Tanzania: Swala Oil Selects Tanzania Drilling Site

Dar es Salaam — Swala Oil & Gas (Tanzania) plc has selected a drilling location for the 2016 exploration well that shall be drilled on the Kito prospect in the Kilosa-Kilombero licence. The technical review of the Kilombero Basin has shown the Kito prospect to be robust and has given promising indications of the potential prospectivity within the basin," Dr David Ridge, the firm's CEO said last week. According to.... Read more »

Posted on : Tuesday , 13th October 2015

East Africa: Ethiopia, Djibouti Sign U.S.$1.11 Billion Deal to Construct Pipeline

Ethiopia and Djibouti have signed an agreement to construct a 550km refined petroleum products pipeline worth $1.55 billion linking the two countries. Black Rhino Group and Mining Oil & Gas Services (MOGS) have been contracted to build the 20-inch pipeline to transport petrol, diesel and jet fuel from Damerjog port in Djibouti to Awash terminal in central Ethiopia. Oil products are currently transported over 800 kilometres.... Read more »

Posted on : Tuesday , 13th October 2015

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