Market News Page No. 448| Africa Business News | Afrotrade

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Kenya Confident Agreed East Africa Oil Export Pipeline Route Will Hold

Kenya is optimistic that a route agreed by Presidents Uhuru Kenyatta and his Ugandan counterpart Yoweri Museveni will carry the day despite opposition from holders of blocks in the Albertine basin. According to commissioner of petroleum at the Ministry of Energy Martin Heya Kenya is working on fulfilling various requirements such as guarantees to security, route optimization and financing set by the Ugandan government so as to enable.... Read more »

Posted on : Tuesday , 22nd September 2015

Kenya: West Pokot Promotes Fish Farming

More than 100 fish farmers in West Pokot county have received 1,000 fingerlings. The project aims to encourage residents to eat fish. Speaking to the Star in his Kapenguria town office yesterday, county deputy fisheries officer Jackson Limang'ura said the last group of farmers will receive theirs next Monday. He said an hatchery is under construction to reduce the cost of transporting the fingerlings from.... Read more »

Posted on : Tuesday , 22nd September 2015

Kenya: New Coffee Variety Expected to Help Boost Yields, Reduce Production Cost By 30 Percent

A new variety of Ruiru 11 coffee is expected to reduce the cost of production by 30 per cent and also lead to higher yields. Coffee Research Institute director Elijah Gichuru said the improved disease-resistant variety jointly developed by Sasini Coffee Ltd and the research institute produces more berries per tree and allows more plants per acre. Speaking during a tour of the company's plantation at Ndumberi in Kiambu County,.... Read more »

Posted on : Tuesday , 22nd September 2015

Rwanda: Country Waits for Methane Power Unit

Kigali — Rwandans will soon benefit from a project that generate electricity from heating methane gas on a floating platform. The project is being done in two phases and contracted to KivuWatt, a subsidiary of ContourGlobal. Recently the company announced in the local media that completion of the first phase will be done by October. CountourGlobal signed a 25-year Gas Concession Agreement with the government and.... Read more »

Posted on : Tuesday , 22nd September 2015

Shareholders Endorse Makhado Thermal Project

Johannesburg — COAL of Africa Limited the coal exploration and project development company operating in South Africa, has announced the successful completion of the shareholder approved share placement to Yishun Brightrise Investment PTE Limited. The 183 231 261 ordinary shares were issued to Yishun, at 5,15 pence per share, in terms of the subscription agreement entered into between the Company and Yishun in relation thereto and.... Read more »

Posted on : Tuesday , 22nd September 2015

Africa: AfDB's New 'Energy for Africa' Deal to Benefit Over 700 Million People

700 million people will be supported to afford clean cooking energy stoves by the "New Deal for Energy in Africa," an initiative by the African Development Bank Group (AfDB) unveiled Thursday to solve Africa's huge energy deficit by 2025. The blue print to get rid of Africa's energy poverty by 2025 was unveiled at a High Level Stakeholder Consultative Meeting attended by business and political leaders at the bank's.... Read more »

Posted on : Tuesday , 22nd September 2015

Ghana: Massive Road Construction Underway

Joy has been brought to the faces of many residents and road users in the Eastern Region as work is steadily on-going on their roads to make them motorable. The Mahama led administration in recent times came under serious attacks and criticisms from a cross - section of the public including some traditional rulers in the region who even demonstrated against it to fix the roads. The joy of the people was noticed when the.... Read more »

Posted on : Tuesday , 22nd September 2015

African Development Bank invests in Kenya Power's, Last Mile electricity project

The African Development Bank in partnership with the Kenyan government will give Kenya Power an additional of US$ 190m in a bid to see the completion of the Last Mile electricity project in Kenya. The electricity project whose initiative was started so as to help increase electricity access to Kenyans particularly those who are in the low income group was instigated in May by the Kenyan president in Machakos County. The.... Read more »

Posted on : Tuesday , 22nd September 2015

Auto assembling plant in Kenya in the making

Kenyan firm Bico has partnered with Liebherr which is a German heavy machinery maker to construct an assembling plant in Kenya in the capital Nairobi. The assembling plant in Kenya which is estimated to cost US$ 218m will see the assembly of road construction and agricultural equipment done in Kenya. The registered Kenyan company, Bico intends to produce at least 30 units of earth movers, water drilling machines and farm machinery such.... Read more »

Posted on : Tuesday , 22nd September 2015

Kenya seeks trade ties with Norway

Kenya and Norway are seeking close business ties to strengthen economic growth and create jobs in the two countries. A high-powered business delegation from Norway is in the country led by the nation’s Minister of Trade and Industry Monica Maeland to seek available business opportunities in Kenya. According to Kenya’s ministry of Foreign Affairs and International Trade, the volume of bilateral trade between the two countries.... Read more »

Posted on : Tuesday , 22nd September 2015

Athi River Mining says new clinker plant to boost profit margins

Athi River Mining (ARM) Cement expects profitability to improve now that it produces its own clinker for its East African cement plants, the firm’s managing director has said. ARM Cement, East Africa’s second biggest producer after Bamburi cement, posted a pre-tax loss of Sh473.5 million ($4.5 million) in the first six months, which the firm blamed on unrealised foreign exchange losses associated with borrowing for its new.... Read more »

Posted on : Tuesday , 22nd September 2015

Reconstruction of roads in Kenyan capital Nairobi to cost US$ 9m

Plans are underway to reconstruct several roads in Kenyan capital Nairobi at a cost of US$ 9m, Governor Evans Kidero has announced, adding that the city roads will be repaired and this is according to the county government’s Nairobi Integrated Urban Development Master Plan. The reconstruction of roads in Kenyan capital Nairobi will significantly reduce present and future vehicle operating costs, journey times and improve traffic.... Read more »

Posted on : Tuesday , 22nd September 2015

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