Market News Page No. 444| Africa Business News | Afrotrade

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Swala Oil selects Tanzania drilling site

DAR ES SALAAM, Tanzania – 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.... Read more »

Posted on : Wednesday , 14th October 2015

Ethiopia�s hydroelectric project begins power generation

Ethiopia’s Gilgel Gibe III hydroelectric power project began power generation, APA can report on Monday.The Dam, highest Roller Compacted Concrete (RCC) dam in Africa, will have a total installed capacity of 1,870mw. This will increase Ethiopia’s power generation capacity by 234 percent, according to Alemayehu Tegenu, Cabinet Affairs Minister, and former Minister of Water, Irrigation and Energy. The power will provide an.... Read more »

Posted on : Wednesday , 14th October 2015

CHINA TARGETS KENYAN PORTS TO EXPAND GLOBAL TRADE INFLUENCE

China is targeting Kenya’s ports of Mombasa and Lamu in expanding its global influence through trade and connectivity. The Port of Mombasa is the busiest in East Africa and serves Kenya, Uganda, Rwanda, South Sudan and the Democratic Republic of Congo. Port of Lamu, whose construction is underway, is part of the larger transportation corridor between Kenya, Ethiopia, South Sudan and Uganda. When completed, the corridor will be named.... Read more »

Posted on : Wednesday , 14th October 2015

KENYA TO ROLL OUT SPECIAL TRADE ZONES IN FIRST QUARTER OF 2016

The designated trading zones will be established in the first quarter of 2016, the Industrialisation ministry has said. They are expected to help investors cut down on key cost drivers such as transport, with the hope that surplus funds would go towards value addition. The focus of the new policy on SEZs is that goods be produced closer to raw material sources and investors handed preferential terms on matters such as licensing. “The.... Read more »

Posted on : Wednesday , 14th October 2015

Norwegians in Talks With East African Counterparts in regards to investment expansion initiatives.

Nairobi — Kenyan and Norwegian investors had discussions on a wide range of potential fields for joint trade and investment engagements recently writes KENNEDY ABWAO. The Norwegian firms were asked to consider increasing their presence in the region to capitalize on a new market of 600 million people. Norwegian Minister for Trade and Industry Monica Maeland said to bolster the trade ties between her country and.... Read more »

Posted on : Wednesday , 14th October 2015

Kenya's Investments in Tanzania Grow

KENYA'S investments in Tanzania have reached 1.685 million US dollars in 518 projects creating 55,762 jobs. The Executive Director of Tanzania Investment Centre, Juliet Kairuki, revealed this in Nairobi recently in Tanzania-Kenya business forum during an official state visit of President Jakaya Kikwete to Kenya. Juliet Kairuki said, the forum was organized by Kenya Ministry of Foreign Affairs and International Trade, Kenya.... Read more »

Posted on : Wednesday , 14th October 2015

Tanzania: Call to Boost Investments in Agriculture

AGRICULTURAL investment is one of the most important and effective strategies for economic growth and poverty reduction particularly in rural areas where the majority of the poor live. Gross domestic product (GDP) growth in agriculture has been shown to be at least twice as effective in reducing poverty as growth originating in other sectors. The Tanzania agriculture sector that employs over 70 per cent of the workforce.... Read more »

Posted on : Wednesday , 14th October 2015

East Africa: 'Most Improved' in Trade, Investment-Friendly Environment

Uganda is the most improved economy in the East African region in terms of creating a conducive environment for trade and investment, according to the latest Global Competitiveness ranking. Uganda, which ranked 115 (from 122 last year) of the 144 economies surveyed globally, was followed by Rwanda, whose economy improved from position 62 last year to 58, while Tanzania moved one position to rank 120 globally. Although.... Read more »

Posted on : Wednesday , 14th October 2015

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

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