Market News Page No. 475| Africa Business News | Afrotrade

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Viewing Lake Turkana Wind Power through Vision 2030 lens

Construction of the Lake Turkana Wind Power project at Loiyangalani in Marsabit County, has kicked off with the inauguration by President Uhuru Kenyatta, last week. The project, expected to inject 310 megawatts of sustainable clean energy, is a private sector flagship project of Vision 2030 — our long term development blueprint that aims to turn Kenya into a newly industrialising, middle-income country with a high quality of life.... Read more »

Posted on : Monday , 13th July 2015

Kenya Power monopoly at risk as firm vies for last-mile customers

Kenya’s renewable energy sector is set for a boost in September when a solar microgrid company plans to become the country’s first licensed private utility to sell power to the public, ending a half-century monopoly by the State electricity firm. Earlier this year, the Government granted Powerhive East Africa, an energy technology venture with its roots in the United States, a permit to supply electricity to rural.... Read more »

Posted on : Monday , 13th July 2015

Tanzania: Over 13.9bn/ - Issued for Building of Teachers Houses

As part of plans to improve the working conditions of teachers, the government has disbursed over 13.9bn/- between 2009 and 2013 for construction of their houses. This was revealed in the House by the Deputy Minister in the Prime Minister's Office (Regional Administration and Local Government ), Mr Kassim Majaliwa, when responding to a question posed by Mr Suleiman Nchambi Suleiman (CCM-Kishapu). Mr Suleiman had sought to know government.... Read more »

Posted on : Monday , 13th July 2015

Africa needs clean energy investment to get power to all - panel

African governments should aim to increase power generation 10-fold to give all their people access to electricity by 2030, an effort that would require a big increase in investment focused on renewable energy, a panel of high-profile figures said. Two in three Africans - around 621 million people - live without electricity, a situation worsening as the population grows, said an annual report from the 10-member Africa Progress.... Read more »

Posted on : Friday , 10th July 2015

CS Najib Balala: New mining law to be in place by September

NAIROBI: A new mining law, which will give the Government a 10 per cent stake in new projects and aims to spur growth of the sector, should be in place by September. Mining Cabinet Secretary Najib Balala said the Government was eager to put in place the “right framework” to ensure this is done. Kenya exports titanium, fluorspar and manganese and has reserves of coal, niobium and rare earths, but mining.... Read more »

Posted on : Friday , 10th July 2015

Netherlands to Invest in Africa's Economy

The head of the Dutch business delegation on a one-day visit to Africa, has told a Africa-Netherlands business dialogue that her investors have come to Africa to invest in the country's economy. Netherlands Foreign Trade and Development Cooperation Minister Lilianne Ploumen disclosed Monday, July 6, 2015, that the Dutch entrepreneurs on her delegation see a lot of opportunities in working with Africa. She stated that when.... Read more »

Posted on : Friday , 10th July 2015

40 Investors Show Interest in Africa

The Africa Investment Promotion Commission has said not less than forty intending investors have besieged the Commission for guide about investing in the African economy in the last one month. The Executive Secretary of the Commission, Mrs Uju Aisha Hassan Baba disclosed this while responding to questions on the impact of security on foreign direct investment in the country as she played host to investment delegation from Thailand.... Read more »

Posted on : Friday , 10th July 2015

TANZANIA WINS FUNDS TO BOOST TRANSPARENCY AS INFRASTRUCTURE PROJECTS GATHER PACE

The World Bank Group has set aside $100 million to help Tanzania increase transparency and accountability in governance and boost public financial management as the country ramps up a series of major infrastructure projects. The bank said the “first-of-a-kind” ‘open government and public financial management development policy operation (OGPFM) in Tanzania, financed with credit from the bank’s International Development.... Read more »

Posted on : Friday , 10th July 2015

UPGRADE AT DAR PORT IMPRESSES WORLD BANK

Dar es Salaam. The World Bank, which is one of the financiers for a $596 million (about Sh1.1 trillion) Dar es Salaam Port upgrade, said at the weekend that it is impressed by the ongoing improvements. The World Bank is cooperating with the UK’s Department for International Development and TradeMark East Africa (TMEA) to inject a total of $596 million in the project of deepening and strengthening of berths 1-7, the dredging of the.... Read more »

Posted on : Friday , 10th July 2015

Kenya Somali Maritime Border Case Headed For The International Court Next Week

A fortnight after Kenya’s foreign affairs minister Amina Mohammed said that the East African nation and its horn of African neighbor had agreed to settle maritime border issues outside the international court of Justice the Somalia government has said it would submit the case next week. According to the Somali publication Somali Current the decision follows consultations between the horn of Africa nation officials with.... Read more »

Posted on : Thursday , 9th July 2015

Tanzania: Huge scope for investment in Untapped Renewable Energy

Renewable energy is one of the most untapped sectors in the country. This was said in Dar es Salaam yesterday by an official with the German firm, the Organisation for Development Cooperation (GIZ), Mr Josephat Focus, at the ongoing Dar es Salaam International Trade Fair (DITF). "There are still huge potentials unexplored in the renewable energy that business community could capitalise and give them maximum returns on.... Read more »

Posted on : Thursday , 9th July 2015

Africa: Infrastructure Investment Is the Foundation for Economic Growth

Over the past two decades the average investment in infrastructure as a percentage of GDP has hovered around 5 per cent, a much lower ration when compared to growing economies such as China that invest about 9 per cent of their GDP in infrastructure development. This lower ratio is an indication that more investment in this sector is still needed and indeed so it is not surprising that Namibia has not achieved the 7 per cent average growth.... Read more »

Posted on : Thursday , 9th July 2015

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