Market News Page No. 488| Africa Business News | Afrotrade

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Rwanda: Construction of Rwf4 Billion FERWAFA Hotel Starts July

Construction of a four-star hotel, worth Rwf 4billion, by the Rwanda Football Federation (FERWAFA) will commence next month, the Federation president Vincent Nzamwita, has said. The hotel will be built in four phases and the first phase will include construction of 40 rooms. FIFA has provided a grant of $2,896,640 (approximately Rwf2bn) towards the project while the other half is a loan. This is part of the FIFA Goal.... Read more »

Posted on : Saturday , 27th June 2015

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.... Read more »

Posted on : Saturday , 27th June 2015

Boskalis wins Angola LNG dredging contract

Royal Boskalis Westminster N.V. has announced that it been awarded three dredging-related contracts on the African subcontinent. The contracts have a combined value of approximately €75 million. One of these contracts was awarded by Angola LNG Ltd. It covers dredging activities related to maintaining the access channel and turning basins of the Soyo LNG port. The project will be executed in joint venture and involves the.... Read more »

Posted on : Friday , 26th June 2015

LNG to grow in Sub-Saharan Africa

Tanzania is estimated to hold significant reserves of gas offshore, equating to approximately 55 trillion ft3 of recoverable resources. BG Group and Statoil are currently developing the country’s only proposed LNG liquefaction facility, which will be fed by gas sourced from Blocks 1 and 2. The facility, which has an expected CAPEX of approximately US$30 billion, will comprise of at least two trains, each with a capacity of 5 million.... Read more »

Posted on : Friday , 26th June 2015

Kenya: Cytonn Investment unveils Sh50 billion real estate project

Speaking on Thursday in a press briefing, a day that also saw the company launch its property development affiliate- Cytonn Real Estate, firm’s Chief Executive Officer Edwin Dande, noted that 85 percent of the project would be low and medium housing. The remaining 15 per cent would be prime residential housing, which will also include the five-acre Amara Ridge gated community in Karen. Besides Karen, other developments in.... Read more »

Posted on : Friday , 26th June 2015

Kibo Mining finds more potential in Tanzania

Mineral exploration and development company Kibo Mining has identified a new zone of ultramafic rocks over a strike length of about 30 km, similar to the Haneti-Itiso Ultramafic Complex (HIUC), in Tanzania. This would be a new target zone for follow-up exploration, the Aim-listed company said on Wednesday. MORE INSIGHT Kibo starts exploration work at Tanzania gold project Kibo Mining raises £1.5m Kibo raises £950 000 through share.... Read more »

Posted on : Friday , 26th June 2015

Africa: Signs infrastructure sharing agreements with two leading miners

Guinea and its state miner have signed infrastructure sharing agreements with two of the country's leading mining companies in an effort to accelerate development of large-scale bauxite projects, a government official and one of the companies said. The accords, hammered out during negotiations in Paris, detail how key infrastructure, including a railway and port in the northwestern Boké region, will be shared. Print Send to Friend 0 0.... Read more »

Posted on : Friday , 26th June 2015

Uganda Prime Minister ask investors for cooperation in development of Oil Sector

Uganda Prime Minister Dr. Ruhakana Rugunda asked investors and major stakeholders in the country’s Oil and gas sector to work together in order to expedite the development of the sector. The Premier made the remarks at the joint meeting of the Policy Coordination Committee and the Oil and gas Technical working group. The two Policy implementation Teams in Uganda’s Oil and gas sector were in a meeting to the review progress on the.... Read more »

Posted on : Friday , 26th June 2015

A new player to enter cement production in Kenya

Cement production in Kenya is soon to see a new entrant. A new cement grinding plant is set to be constructed in Western Kenya on a 50 acre piece of land. It is projected to produce 730,000 tonnes of cement every year and hence enhance the competition in the industry. “The plant will have the capacity to increase cement production in Kenya by 2,000 tonnes of cement per day using raw materials such as clinker, additives,.... Read more »

Posted on : Thursday , 25th June 2015

UK grants investment into infrastucture construction in Kenya

The UK has agreed to provide a US$5mn grant to TradeMark East Africa for the construction of proper roads between Kenya’s Moi International Airport and Mombasa Port. The road upgrade is expected to begin in April 2015 and go on until June 2016. The funds will be used to upgrade the Port Reitz or airport road into a dual carriageway, which would ease movement of cargo and people to and from the sea and airport. Frank.... Read more »

Posted on : Thursday , 25th June 2015

Africa and Canada sign mining MoU

The deal, signed in Pretoria by South African mineral resource minister Ngoako Ramatlhodi and Canadian trade minister Ed Fast, encourages increased reciprocal investment in exploration and prospecting activities. The deal gives particular attention to investment in the junior to mid-tier mining sector, as well as asserting both parties’ commitment to collaborate on skills development, technical expertise and experience as well as.... Read more »

Posted on : Thursday , 25th June 2015

Northern Kenya areas chosen to host regional crude oil pipeline

The regional crude oil pipeline from Kabaale, in western Uganda will pass through Kainuk and Lokichar in Turkana County, Isiolo and Garissa counties to Lamu port, the contractor picked to carry out the project feasibility study has told the Government. Toyota Tusho’s proposal puts an end to debate on the 1,518km pipeline route within Kenya with oil companies being in favour of the ‘southern’ option that would.... Read more »

Posted on : Wednesday , 24th June 2015

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