Market News Page No. 458| Africa Business News | Afrotrade

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Heston to set up in Tanzania

Heston, a British oil services company is setting up shop in Tanzania and use the country as a hub to tap into the growing hydrocarbons sector in the Eastern African region. writes JOSEPH BURITE Speaking to the East African Business Week at an oil and gas exhibition in Dar es Salaam recently. David Edwards, the regional operations manager for Middle East and Africa said the company will apply a model that helped it achieve.... Read more »

Posted on : Thursday , 24th September 2015

Rwanda waits for methane power unit

KIGALI, Rwanda - 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 a 25-year Power.... Read more »

Posted on : Thursday , 24th September 2015

AfDB approves US$121mn grant to improve East Africa's electricity access

The African Development Bank (AfDB) has approved a US$121mn loan and grant to assist the government in improving electricity access for businesses and in rural households. powerlinenigeria pixabayOnly 14 per cent of Uganda has proper access to power, and AfDB hopes to increase that percentage through its project. According to AfDB, the move is expected to enhance economic growth in several parts of rural Uganda. The grant, which is.... Read more »

Posted on : Thursday , 24th September 2015

East Africa: Bomag launches new compact and powerful machinery for the Build and Mining industry

Bomag has extended its range of products with the addition of a new recycler and soil stabiliser, the MPH 364 Bomag MPH 364 BomagClearly arranged operating controls allow the machine operator to work easily. MPH 364 is a compact and powerful machine .The new construction machine has an operating weight of 17 tonnes and a working width of 2,005 mm. The compact design and a powerful 360 HP engine make the MPH 364 a good choice for.... Read more »

Posted on : Thursday , 24th September 2015

NORWAY- RELIABLE DEVELOPMENT PARTNER

THE official visit to Tanzania last week of more than 50 Norwegian business leaders led by Minister of Trade and Industry, Ms Monica Maeland, has come at a time when bilateral business ties are witnessing strong momentum. Tanzania has for several decades been one of the most important countries to Norwegian development cooperation. Norway is today heavily involved in climate change issues, strengthening of public revenue management, clean.... Read more »

Posted on : Thursday , 24th September 2015

Kenya - Norway looking forward to trade ties

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 : Thursday , 24th September 2015

Construction of Sh12b cement plant in Kenya to kick off next year

Construction work for the long awaited multi-billion cement processing factory project at Sebit in West Pokot County will kick off early next year, company officials have confirmed. Cemtech limited, a subsidiary of India's Sanghi Group of companies will begin construction work for the Sh 12 billion factory after approval by engineers who had earlier raised queries over its site among other issues. Residents, some of whom expected to.... Read more »

Posted on : Thursday , 24th September 2015

TMEA VOWS TO SUPPORT TANZANIA IN MARKETING RICE

TRADE Mark East Africa (TMEA) has pledged to support Tanzania to capitalise on its comparative advantage on rice production by increasing sales of the commodity in the regional markets. The TradeMark East Africa (TMEA) Country Director, Dr Josephat Kweka, said in Dar es Salaam at the high level policy dialogue for rice value chain stakeholders in the EAC Common Market that although Tanzania leads in rice production it was still not able to take.... Read more »

Posted on : Thursday , 24th September 2015

TAXMAN ENHANCES ELECTRONIC GOODS CONTROL TO BOOST REVENUE

The Kenya Revenue Authority aims to fully automate its goods clearance and cargo tracking systems within two years as part of a strategy to seal revenue loopholes. The country losses substantial revenue through suspected under-declaration of the value of exports or theft of cargo at a time when the taxman is under pressure to meet collection targets. KRA targets a 100 per cent coverage of goods under electronic control by 2017/2018 from a.... Read more »

Posted on : Thursday , 24th September 2015

Curtains fall on Big3Africa 2015

As the curtains came down after a successful and exciting Three-day interiors exhibition at the Big3Africa 2015, at the KICC, Nairobi, Kenya one thing came out clearly. Not only are the lifestyles, tastes and preferences of Kenyans changing, but there’s also a quest for finer things in life. The number of visitors was also a clear indication that many are yearning for aesthetically pleasing and creative interiors and players in the.... Read more »

Posted on : Thursday , 24th September 2015

CHINA FUNDED MOMBASA-NAIROBI RAILWAY TO BE EXTENDED

China recently endorsed a new deal with the Kenyan government to extend the Mombasa-Nairobi Standard Gauge Railway (SGR) line to Naivasha. This was a follow-up to the $13.8 billion project that started in January, which is aimed at easing and increasing transport capacity in Kenya vis-a-vis other East African countries. It will also aid interconnection and regional integration, the outcome of which will be economic development for Kenya and.... Read more »

Posted on : Thursday , 24th September 2015

Major cement plant in Kenya to be constructed

Cemtech Limited is set to commence in January the construction of a US$ 95m cement plant in Kenya in West Pokot County. The feasibility study for the project which was commissioned in 2010 by the Kerio Valley Development Authority (KVDA) shows that the area has large limestone deposits with the possibility of producing 1.2 million tons of cement annually. Cemtech’s General Manager, Diptish Nandha confirmed the news and said that they.... Read more »

Posted on : Thursday , 24th September 2015

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