Market News Page No. 487| Africa Business News | Afrotrade

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Tanzania: Four-Lane Road Construction Starts

Construction of a four-lane road linking Sakina section of Arusha City with Tengeru Township in Meru has started and the massive infrastructure whose works kicked off last Thursday is aimed at easing congestion along Arusha-Moshi highway. The four-lane, two track motorway, whose works are kicking off in near Tengeru is part of the implementation of the proposed multinational Arusha-Holili highway which is to extend into Kenya and join.... Read more »

Posted on : Tuesday , 23rd June 2015

West Africa plans regional power market

West Africa’s regional body will pool its resources to establish an electricity market to end the blackouts that have blighted its 15 member states for decades, Reuters reports. Heads of states who gathered for a meeting of the Economic Community of West African States agreed to develop a regional electricity market almost two decades after the plan was conceived, Etienne Bailly, project director at Transco CLSG said at a power.... Read more »

Posted on : Monday , 22nd June 2015

CHALLENGES KENYA MUST ADDRESS IN THE OIL AND GAS SECTOR

Following the conclusion of the second local content convention speakers pointed out various gaps that must be addressed if the country is to benefit from the growth in the nascent oil and gas sector. According to Capacity Development Consultant partner Gichira Kibira the biggest hurdle remains the lack of a legal framework that continues to bring uncertainty and keeping away potential investors. Among laws that are in the works.... Read more »

Posted on : Monday , 22nd June 2015

Gold mining still most significant source of income in Africa, Asia � WGC

While the global gold industry injected more than US$171 billion into the world’s economy in 2013, the countries that benefitted the most from such contribution were mainly African and Asian nations, the World Gold Council says. Even though the focus of the report released this week is on formal, large scale mining, the council acknowledges that artisanal and small-scale (ASM) gold miners can play a significant role in local.... Read more »

Posted on : Monday , 22nd June 2015

UK Based Compny celebrates 15 years of quality construction in Africa

African Supplies Ltd. (ASL) began in 2000 with the purpose of establishing strong distribution channels for supply of quality building materials in sub-Saharan Africa. This began with AHI Roofing’s Decra and Gerard branded roofing systems, now used extensively for residential and commercial projects. From a standing start, Africa now contributes 33% of global sales to the company. This exceptional growth is not only.... Read more »

Posted on : Monday , 22nd June 2015

The Kenya construction and infrastructure sector forcasts growth

Africa building and construction industry news, reports, projects, events, opinions and reviews. We cover ongoing, planned projects in Africa and around the world and audience include contractors, stakeholders such as financiers and developers, governments, and private undertakings. A Long-term interest in the construction and infrastructure sector will be driven by successful issuance of Eurobond. Issuance of the bond will also boost the.... Read more »

Posted on : Monday , 22nd June 2015

China- Kenya agreement to develop a multi billion steel plant in Kenya

A multi billion shilling steel plant is upcoming in Kenya as high consumption of steel-related products in the country and region is being witnessed. The new steel plant is set to be constructed following the penning of an agreement between Kenya and Sinosteel – the company will undertake the investment. The new steel plant will see the country quell an expected demand of 2.5 million metric tonnes for steel per.... Read more »

Posted on : Monday , 22nd June 2015

UK based company Expands mining project to Africa

The Ethiopian government has entered a gold development agreement with UK-based gold mining company Kefi Minerals goldmine-pixabayKefi Minerals has conducted a feasibility study, which has revealed that there are 28 tonnes of gold. (Image source: Pixabay) Ethiopia’s minister of mine Tolosa Shagi signed the agreement with Kefi Minerals. The UK-based company will mine for gold and silver in the Gonji Area, located in the western.... Read more »

Posted on : Saturday , 20th June 2015

Lekela Power signs off on MOU for 50MW PV plant in Egypt

Lekela Power, a 60/40 joint venture between Actis and Mainstream Renewable Power, has signed memorandums of understanding (MOUs) with the New and Renewable Energy Authority (NREA) for a 50MW plant in Aswan, Egypt, and a 50MW wind power plant in the West Gulf of Suez. Chris Antonopoulos, CEO of Lekela Power, said: “We are pleased with the two MOUs, which mark an important step for Lekela Power and its partners. We have a.... Read more »

Posted on : Saturday , 20th June 2015

SIEMENS SIGNS $9BN DEAL WITH EGYPT

Siemens has signed its single biggest ever order – worth €8bn ($9bn) – to provide gas-fired plants and wind power installations to Egypt. The new projects will boost Egypt’s power generation capacity by more than 50 per cent and will add anSimens president Joe Kaeser extra 16.4 GW to Egypt’s grid. The deal was signed in Berlin and witnessed by Egyptian President Abdel Fattah El-Sisi and German.... Read more »

Posted on : Saturday , 20th June 2015

CHINA TO BUILD 50 MW SOLAR POWER PLANT IN KENYA

China is to build one of Africa’s largest solar power plants, an official has announced. China’s ambassador to Kenya, Liu Xianfa, said on Friday that his country had signed an agreement to build the 50 MW project near the northeastern Kenyan city of Garissa. The project will be financed by a loan from the China Import-Export Bank. "After extensive research and mutual exchanges between the two countries,.... Read more »

Posted on : Saturday , 20th June 2015

East Africa survey reveals US$15.6bn iron ore deposits

The Ministry of Energy and Mineral Development said the deposits were discovered and quantified following a series of recent airborne geophysical surveys. In its latest review of the country’s mineral sector, the ministry said the new ore reserves were discovered at Buhara (48mn tonnes), Nangara (six million tonnes) and Rugando (55million tonnes); all in south-western Uganda. “More than 200mn tonnes of iron ore are now proven.... Read more »

Posted on : Saturday , 20th June 2015

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