Market News Page No. 484| Africa Business News | Afrotrade

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Tanzania Considering Reducing VAT On Real Estate

The Government of Tanzania announced that is currently evaluating a considerable reduction on the Value Added Tax (VAT) on houses in order to boost the investment in real estate in Tanzania and raise living standards. tanzania-vat-real-estateThe reduction on the VAT is aimed at helping low income families to purchase a property from the National Housing Corporation (NHC) which this year started the construction of 139 affordable houses, part of.... Read more »

Posted on : Monday , 6th July 2015

Italian company Building Energy signsfirst solar project in Africa

Italian independent power producer (IPP) Building Energy has signed an MoU with the New & Renewable Energy Authority (NREA) for two 50MW PV plants in Benban, Upper Egypt, making it the company’s first project in the North African nation solarpark-activsolarBuilding Energy plans to develop two 50MW plants in Benban, Upper Egypt. The project is worth US$200mn, and is expected to reduce carbon dioxide emissions by 100,000.... Read more »

Posted on : Saturday , 4th July 2015

Italian company Ansaldo Energia signs 3 power contracts with Africa

Italian power engineering company Ansaldo Energia has been awarded three contracts worth US$266mn in Egypt AnsaldoEnergia-EgyptAnsaldo Energia will supply two AE94.2 gas turbines rated at 170MW each for the open cycle power plant in Al Mahmoudia. The first two contracts cover the conversion to combined cycles of two power plants at Al Shabab and West Damietta, owned by the Egyptian Electricity Holding Co. Ansaldo Energia will.... Read more »

Posted on : Saturday , 4th July 2015

Fast Growing Tanzania Looks To Begin LNG Production By 2020

With an estimated 46.5 trillion cubic feet of natural gas reserves that are expected to rise to 200 trillion cubic feet in the next two years, Tanzania is now firmly on the world energy map as a hot spot for the global energy industry. A recent PricewaterhouseCoopers report noted that Tanzania’s infrastructure has drawn significant investment over the past several years and predicts that within a decade it will become a.... Read more »

Posted on : Saturday , 4th July 2015

KenGen in 400MW wind power farm plan for Meru

KenGen is set to develop a 400 megawatt (MW) multibillion-shilling wind power farm in Meru, adding to its growing portfolio of renewable energy sources. The first phase of the wind power project, which is expected to complete by December 2017, will generate 100MW at a cost of Sh26.4 billion ($270 million). France’s Development Agency (AfD) and Germany’s Development Bank (KfW), the financiers of the project,.... Read more »

Posted on : Saturday , 4th July 2015

Construction Work on New Compressed Natural Gas Plant in Southern Durban begins

Spring Lights Gas (SLG) which is one of the largest Piped gas suppliers for KwaZulu Natal Industry is set to commission a new compressed natural gas (CNG) Plant in Southern Durban before the end of this year. The CEO of Spring Light Gas, Nkosinathi Solomon noted recently that construction work on the plant had already begun but hesitated to give the exact cost of the whole construction process. The new SLG facility will.... Read more »

Posted on : Saturday , 4th July 2015

Kenya: Uhuru Kicks Off Africas Biggest Wind Power Project in Marsabit

President Uhuru Kenyatta has broken ground to start Africa's biggest wind power project in Laisamis, Marsabit County, as Kenya took giant steps in asserting its position as a leader in green energy production globally. The project is also the biggest single private sector initiative on the African Continent, costing 623 million euros (more than Sh70 billion), with a galaxy of investors participating in the massive.... Read more »

Posted on : Friday , 3rd July 2015

A US$ 70m iron sheet factory opened in Kenya

A US$ 70m iron sheet factory has been inaugurated in Kiambu County, Kenya by Devki Group. The new factory is projected to be able to produce 300,000 tonnes of iron sheets in Kenya annually. The development which is under the group’s affiliate, Maisha Mabati Mills Ltd, is the largest of its kind in Africa set to produce long lasting roofing sheets coated with aluminium and zinc. “This mill, which is the largest.... Read more »

Posted on : Friday , 3rd July 2015

Norwegian company to partner and invest in Africa's hydro power generation

The Genesis Energy Corporation have signed a Strategic Partnership contract with the SHP Malthe Winje a Norwegian Group company to offer a pioneering platform for multiple deployment on fast track basis of Modular Mini Hydro Power solutions that will provide power services for a reasonable short period of time to the nation of Nigeria and the Africa continent at large. This was revealed by Akinwole Omoboriowo, the Genesis Energy.... Read more »

Posted on : Friday , 3rd July 2015

Top Japanese firms set to land deal & construction agreement with Africa

Top Japanese firms are set to land Egypt’s US$45 Billion city construction that will kick off in few months time. According to the Egyptian government sources six Japanese firms are likely to implement Egypt’s new city project. The country’s daily Amwal Alghad said that the deal between the government and the Japanese firms offer is currently on its preliminary stage as the negotiations between the UAE-based Emaar.... Read more »

Posted on : Friday , 3rd July 2015

17 Companies Shortlisted For Uganda�s First Licensing Round For Petroleum Exploration, Development And Production

Following the end of a deadline for the Process of receiving the Request for Qualification ended on 30th June, 2015 the Ministry has said it has registered seventeen valid applicants out of the nineteen applicants that had registered for licenses in six blocks in the Albertine Basin. The six blocks on offer are; Ngassa (410 Km2) in Hoima District, Taitai & Karuka (565 Km2) in Buliisa District, Ngaji (895 Km2), Rukungiri &.... Read more »

Posted on : Thursday , 2nd July 2015

Kenya: Self-sufficient in terms of electricity generation

Kenya electricity generation has received a boost after more than 280MW was added to the national grid last year, Kenya became self-sufficient in terms of power generation. “Kenya is now self-sufficient in terms of power generation after more than 280 MW was added to the grid last year from various geothermal projects,” said Kenya Power chief executive Ben Chumo. The ongoing geothermal projects have added so.... Read more »

Posted on : Thursday , 2nd July 2015

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