Market News Page No. 494| Africa Business News | Afrotrade

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Wind power plant in Meru, Kenya set to generate 400MW of power

Kenyan electricity producing company, KenGen is set to develop a 400MW wind power farm in Meru County putting an addition to the growing portfolio of renewable energy sources. The first phase of the project which is stipulated to be complete by December, 2017 will generate 100MW of electricity. KenGen’s Managing Director, Albert Mugo confirmed the information and said that the project might be financed by French.... Read more »

Posted on : Tuesday , 7th July 2015

Tanzanian lawmakers pass disputed petroleum bill

Tanzania's parliament on Sunday approved a legal and regulatory framework for developing its nascent hydrocarbons industry, after days of contentious debate. East Africa has become a new oil and gas frontier after a string of discoveries that producers hope to exploit to supply energy-hungry Asian markets. Tanzania estimates it has more than 55 trillion cubic feet of natural gas but has yet to make oil.... Read more »

Posted on : Monday , 6th July 2015

China- Africa into a power generation contract

The Ethiopia Electric Power has signed a US$120mn contract with China Electric Power & Equipment Technology Company (CET) for the construction of the Ethiopia-Kenya Transmission Atlantis Images-transmissionlinesAfDB has provided the Kenyan government funding for a 500 kV transmission line in the country. Funding for the construction of the 433 km transmission line on the Ethiopian side of the border came from the African.... Read more »

Posted on : Monday , 6th July 2015

London & Norway based companies embarked to light up Africa

London-based Genesis Energy Corporation and Norway’s SHP Malthe Winje have decided to fast-track the deployment of modular mini hydro power solutions for Nigeria and the entire African continent at large hydropower-statkraft-flickrNigeria is well endowed with streams and tributaries, which makes it easier to harness hydro power. SHP Malthe Winje are considered market leaders in manufacturing and supplying prefabricated and.... Read more »

Posted on : Monday , 6th July 2015

Kenya: Kiambu Constructs Sh160 Million Hospital at Tigoni

Tigoni — Residents of Tigoni in Kiambu County are set to benefit from a hospital upgrade by the county government. The Sh160 million 200-bed capacity hospital to be constructed at the Tigoni Health Centre will benefit residents who have had to grapple with congestion in the wards especially accident victims. Kiambu Governor William Kabogo has reiterated his government's commitment to better health service delivery. "My government.... Read more »

Posted on : Monday , 6th July 2015

Kenya: New Mall Set to Change How Kisumu Shops

Unlike other middle class estates that are slowly experiencing an influx of residents, Mamboleo is relatively more secure and tranquil. "Actually, a majority of professionals in Kisumu now find the Mamboleo/ Kajulu hills a perfect destination of choice owing to encroachment of Milimani and Tom Mboya estates by offices, hotels and guest houses," she said. Lake Basin commission managing director Kabok Aguko says the shopping.... Read more »

Posted on : Monday , 6th July 2015

Ghana aims to be port of call for west Africa�s offshore oil industry

In April, the China Harbour Engineering Company was awarded a $600 million contract for the project, which is sited 326 kilometres west of Ghana’s capital, Accra, and just 100km west of Takoradi, the centre of the country’s emerging oil industry. Dedicated free trade ports are something of a fashion among developing economies, which see them as a way to encourage investment. Already other African.... Read more »

Posted on : Monday , 6th July 2015

Tullow Enjoys Strong Oil Production in West Africa

Independent producer Tullow Oil reported Wednesday that it had seen strong oil production from its West African operations during the first half as the company took action to "re-set" its business. During the first six months of 2015, Tullow's West Africa working-interest oil production averaged 66,500 barrels per day. The firm said that, as a result of strong performance from its Jubilee field offshore Ghana, it was increasing.... Read more »

Posted on : Monday , 6th July 2015

Golar, Perenco Reach Agreement on Commercial Terms of Cameroon FLNG Project

Golar LNG Limited (Golar) announced Tuesday that, further to the announcement on Dec. 24, 2014 regarding the signing of a Heads of Agreement with Societe Nationale de Hydrocarbures (SNH) and Perenco Cameroon (Perenco) for the development of a floating liquefied natural gas (FLNG) export project in Cameroon, agreement has now been reached with the support of the Boards of both Golar and Perenco on the material commercial terms and.... Read more »

Posted on : Monday , 6th July 2015

Kenya making progress on road and rail expansion

Kenya’s road network expanded by 16 per cent in 2014 and the first 40 km of the new Mombasa-Nairobi standard gauge railway project has also been completed According to Central Bank of Kenya’s Economic Survey 2015, total number of paved roads reached 13,000 km last year, up from 11,230 km in 2013. This is a result of the government increasing access to rural areas as a part of its annuity plan, under which at least 10,000 km of.... Read more »

Posted on : Monday , 6th July 2015

Mini hydro power solutions for Nigeria

London-based Genesis Energy Corporation and Norway’s SHP Malthe Winje have decided to fast-track the deployment of modular mini hydro power solutions for Nigeria and the entire African continent at large SHP Malthe Winje are considered market leaders in manufacturing and supplying prefabricated and standardised mini hydro plants. Along with Genesis Energy Corporation, the Norwegian company has embarked on a mission to light.... Read more »

Posted on : Monday , 6th July 2015

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

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