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

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SWALA ENERGY GETS MINISTERIAL CONSENT FOR TANZANIA FARM-OUTS

Swala Energy Limited has reported that its subsidiary company Swala Oil and Gas (Tanzania) Plc has received a no objection notice from the Tanzanian Ministry of Energy and Mines to the farm-out of 50% of its interests in the Kilosa-Kilombero and Pangani licences to Tata Petrodyne Limited (TPL). The consent from the Tanzanian Petroleum Development Corporation, the Tanzanian Revenue Authority and now from the Ministry of Energy and Mines.... Read more »

Posted on : Thursday , 6th August 2015

Tanzania Building Agency to invest into constustion & development

The Tanzania Building Agency is to construct 10, 000 houses which will benefit civil servants in Tanzania who will wholly own them. The objective of this initiative is to provide quality and environmentally friendly accommodation to the government and public servants through efficient and effective business as well as consultancy services and real estate management. The news that the Tanzania Building Agency is to construct 10,.... Read more »

Posted on : Wednesday , 5th August 2015

TANESCO to ramp up electricity supply in Tanzania with US$ 4Bn investment

The Tanzania Electric Supply Company Limited (TANESCO) which owns most of the electricity supply in Tanzania mainland which includes generating, transmitting and distributing facilities plans to spend more than US$ 4Bn in executing various projects for energy generation and gas production that will culminate in the production of 300-megawatt surplus. Tanesco Managing Director, Engineer Felchesmi Mramba confirmed the news and.... Read more »

Posted on : Wednesday , 5th August 2015

Improving Africa�s piling practices

Sub Saharan African construction industry could be losing hundreds of millions of dollars in project maintenance costs due to poor piling practices. What most project developers ignore is that there is still no alternative to good piling practices. It’s incredible how far construction companies can go to save costs.Even to the extent of sacrificing the quality of piling – literally, the very foundation of.... Read more »

Posted on : Monday , 3rd August 2015

Construction of City of Hope in Ghana to cost US$10Bn

The Construction of City of Hope in Ghana will cost US$10Bn and will be a world class information communication technologies (ICT) city project meant to bring all players under one roof in three years. Construction of City of Hope in Ghana will consist of a six towers’ project, It will also be Africa’s tallest building at a height of 270 meters. Rig Communications, a locally owned technology giant willbe undertaking the.... Read more »

Posted on : Monday , 3rd August 2015

Australian Investors Eye Tanzania�s Gas Industry

Several Australian companies have shown interest to invest in the country’s natural gas industry, says the Tanzania Investment Centre (TIC).The Mtwara Gas Pipeline is expected to be inaugurated later this month and the facility will enable the country to produce 2800MW of power by 2016. East Africa is now a new oil and gas frontier after a string of hydrocarbon discoveries, which producers hope to exploit to supply energy-hungry Asian.... Read more »

Posted on : Monday , 3rd August 2015

Buhari says oil sector reforms on the cards

NIGERIAN Muhammadu Buhari has assured investors his administration would implement reforms to boost accountability and transparency in the country’s oil and gas industry. Speaking at a meeting with senior officials of Chevron, the oil company, led by the company’s President for Africa and Latin America, Ali Moshiri, Buhari declared that his administration was ready to effectively address the myriad of challenges in the.... Read more »

Posted on : Monday , 3rd August 2015

Tullow to resume Ghana exports in August

TULLOW, the leading independent oil exploration and production company, announced exports from the Jubilee Field to the Ghana Gas plant would resume next month. Exports at the Atuabo facility were suspended earlier this month due to technical issues with gas compression systems on the FPSO (Floating production storage and offloading) Kwame Nkrumah. Oil production is currently constrained to approximately 65 000 barrels of oil per day (bopd).... Read more »

Posted on : Monday , 3rd August 2015

Grand Power Plan On Tanesco Cards

The Tanzania Electric Supply Company Limited (TANESCO) expects to use more than 4 billion US dollars in implementing various projects for generation, distribution and transmission of energy, including energy gas production projects that will help to produce a 300-megawatt surplus. The national power utility firm is also expecting to change the vending system for its prepaid electricity consumption arrangement, LUKU (Lipia Umeme Kadiri.... Read more »

Posted on : Monday , 3rd August 2015

Cosatu Statement On the Introduction of Nuclear Energy

The Congress of South African Trade Unions (COSATU) has noted the plans to build 6 to 8 nuclear power stations. Reports indicate that the introduction of this technology will cost between 400 billion and 1 trillion rand to build. This large sum of money required for financing nuclear energy will come from the taxpayer. COSATU wishes to reiterate the following concerns raised by its affiliate - the National Union of Mine Workers (NUM) on the.... Read more »

Posted on : Monday , 3rd August 2015

Ackermans energy saving scheme a success

ACKERMANS, the South African-headquartered multinational retailer, is reveling in the success of its multi-million Rand project to reduce its energy footprint. In 2013, the organisation, in partnership with UGU Engineering Solutions, embarked on Project Save Watts (SWATTS) at cost of R33,4 million and received a R15 million rebate from Eskom, the power utility. The main aim of the project was to reduce the energy footprint of the business.... Read more »

Posted on : Monday , 3rd August 2015

Major partnership enhances power provision in Kenya

GENERAL Electric has announced a partnership with Kipeto Energy Limited to build a new wind farm in Kenya’s Kajiado County. The local power deal caps off a successful run of more than $2,5 billion in booked orders on the Africa continent across transport, aviation, healthcare and energy sectors. The Kipeto project, announced during United States President Barack Obama’s visit to Kenya, is expected to make a significant.... Read more »

Posted on : Monday , 3rd August 2015

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