Market News Page No. 490| Africa Business News | Afrotrade

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Solar Wind Energy Tower Enters MoU in Kenya

Solar Wind Energy Tower, Inc. (SWET) entered into a MoU with Elperta Industries Co. Ltd. out of Kenya. SWET is the inventor of large Solar Wind Downdraft Tower structures. Under the MoU, SWET will pursue the finance and development of its thermal downdraft towers facilities in the East African country. Elperta is able to finance, construct, and place in operation such tower facilities, subject to obtaining necessary.... Read more »

Posted on : Wednesday , 22nd July 2015

Edenville Energy Closer To Develop Rukwa Coal Power Plant In South West Tanzania

Edenville Energy (EDL) announced last week that it has held further meetings with Shandong Electric Power Construction No. 2 Company (SEPCO2) for the development of the Rukwa Coal Power Project in the South West Tanzania. Rukwa-Coal-power-plantThe project is in response to Tanzania’s needs for coal-based power plants as an alternative to hydro-power, in light to the recent and long droughts that have hit the country and resulted in power.... Read more »

Posted on : Wednesday , 22nd July 2015

Tanzania Health Sector To Benefit From USD 12 Billion Global Financing Facility

The United Nations Secretary General (UNSG) announced last week that Tanzania is among four countries to benefit from a USD 12 billion fund awarded by the Global Financing Facility (GFF) to support the health sector in emerging countries. Tanzania-global-financing-facilityThe announcement was done by UNSG’s Mr. Ban Ki Moon during the Third International Financing for Development Conference in Addis Ababa, Ethiopia early last week. The.... Read more »

Posted on : Wednesday , 22nd July 2015

Rift Energy Hopeful Of Either Oil Or Gas Find In Kenya�s Block L19

Houston based Rift Energy says its preliminary resource reserve estimates for the top ten leads (including the four drill-ready prospects) says it is hopeful of encountering oil or gas when it drills its first well later this year. The block which has already seen one well the Ria Kaluli 1 drilled in 1962 encountering oil shows before being plugged Rift Energy estimates include a mid-range recoverable estimate of 856.... Read more »

Posted on : Wednesday , 22nd July 2015

CGG WINS AIRBORNE GRAVITY GRADIOMETER SURVEY OVER TWO AREAS ONSHORE TANZANIA

Integrated Geoscience Company CGG has announced that it has been awarded a contract by the Tanzanian Petroleum Development Corporation (TPDC) to acquire high-resolution gravity gradiometry and aeromagnetic data over two onshore areas along the South-Eastern Tanzanian Coastal Basin and the eastern arm of the East African Rift. The acquisition over a total area of 30,000 sq km will commence in mid August 2015 and is scheduled to.... Read more »

Posted on : Wednesday , 22nd July 2015

Construction boom and building innovation in East Africa

According to the African Development Bank, East Africa will grow by 5.6% in 2015 and by 6.7% in 2016, making it the fastest growing region on the continent. Today 54% of the world’s population lives in urban areas, but by 2050 the urban population is expected to rise as high as 62% in Africa. Currently only about 40% of African people live in urban environments, but as urbanisation rates continue to climb, some African cities will.... Read more »

Posted on : Wednesday , 22nd July 2015

Shaping the future of Africa�s construction industry

Construction experts and enthusiasts can look forward to attending the biggest yet conference of global construction industry shareholders right here on South African soil next month. The annual African Construction and Totally Concrete Expo, which takes place from 12 May to 15 May 2015, will offer attendees five unique expo experiences which include the African Construction Expo, Totally Concrete Expo, Coatings for Africa,.... Read more »

Posted on : Wednesday , 22nd July 2015

Kenya primed for cross-border trade

Kenya’s economy has shown remarkable gains over the last five years, maintaining a robust growth rate. GDP growth stood at 5.4 percent in 2014, an improvement on the 5.1 percent recorded in 2013 and 4.6pc in 2012. The country’s annual GDP growth is projected to reach 7.0 percent by 2017 (6.7pc average CAGR 2014-2017). Following the rebasing of calculations in 2014, Kenya’s GDP now stands at US$55 billion. The.... Read more »

Posted on : Tuesday , 21st July 2015

Kenya signs US$ 333m deal for Kuresoi dam construction

BNP Paribas Italy and Intesa San Paolo banks have signed a US$ 333m agreement with Kenya for the construction of Kuresoi dam in Kuresoi, Nakuru county. The signing of the agreement at State House, Nairobi, was witnessed by President Uhuru Kenyatta and Italian Prime Minister Matteo Renzi after they held bilateral talks. The agreement brings Italy’s total financial assistance to Kenya to US$ 528m The total amount will.... Read more »

Posted on : Tuesday , 21st July 2015

Oil Ministry: Eni Discovers Up To 15B Cubic Meters Of Gas In Egypt

Italy's Eni has discovered gas reserves of up to 15 billion cubic metres in Egypt's Nile Delta region, with production set to start in two months, the Egyptian oil ministry said on Monday. The discovery was made in Western Abu Madi, 120 km northeast of Alexandria, where Eni holds 75 percent of exploration rights through an Egyptian subsidiary, with Britain's BP holding a 25 percent stake. Eni made the discovery at a depth of 3,600 metres.... Read more »

Posted on : Tuesday , 21st July 2015

Polarcus Commences Multi-Client Survey Offshore Northwest Africa

Polarcus Limited announced Monday that it has commenced a new 3D broadband multi-client survey across the Mauritania-Senegal-Guinea-Bissau Basin (MSGB), offshore northwest Africa. The survey, which is supported by industry funding, will cover an area of 579 square miles offshore The Gambia and is expected to run for 50 days. Polarcus expects final data products to be available in 1Q 2016. Prefunding for the project was secured due to “the.... Read more »

Posted on : Tuesday , 21st July 2015

Norwegian Scatec Solar to build large-scale solar plant in Africa

Norwegian power producer Scatec Solar has signed an agreement to build West Afria’s first large utility-scale solar power plant in Africa. Solar Panels - APOPower from the plant will provide electricity to about 60,000 households. The build-own-operate agreement for the 33MW solar project was signed between Scatec Solar, Mali’s Ministry of Energy and Water and Electricité du Mali (EDM), the country’s.... Read more »

Posted on : Monday , 20th July 2015

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