Market News Page No. 498| Africa Business News | Afrotrade

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Deloitte bags multi-billion Kenyan construction consultancy contract

Under the terms of the contract, the consulting firm would undertake a feasibility study, prepare tendering documents and advise on procurement of the project on behalf of the Kenya Urban Roads Authority (KURA). The second Nyali Bridge project is anticipated to connect Mombasa Island with the North mainland and ease congestion on the existing Nyali Bridge making traffic less dependent on a single channel.... Read more »

Posted on : Saturday , 27th June 2015

Ethiopia, Chinese Company Sign U.S.$119 Million Deal for Infrastucture development to Kenya

Ethiopia signed a 119 million dollar deal for power transmission lines to Kenya to export the extra power. "It is mandatory to export the energy that is leftover as we cannot keep it, because our existing electric transmission lines are working beyond their capacity and they cannot transmit the entire amount of energy we are producing," according to Azeb Asnake (Eng.), chief executive officer (CEO) of Ethiopia Electric.... Read more »

Posted on : Saturday , 27th June 2015

Oil and gas boom in East Africa countries promises riches

The East African region is emerging as one of the most prolific oil and gas exploration sites in the world. Analysts at Standard Bank say Kenya, Uganda, South Sudan, Ethiopia, Tanzania and Mozambique that have recently made discoveries, have the potential to fundamentally transform their economies through investments in road, rail, power and industrial infrastructure. “Over and above the traditional oil and gas regions in Africa, notably.... Read more »

Posted on : Saturday , 27th June 2015

EAST AFRICAN OIL & GAS DISCOVERIES STIR GLOBAL EXPLORER INTEREST

Oil discoveries in Uganda and Kenya have also added to the excitement in the sector as new players look to enter these markets, including some of the largest independent and international oil companies, “ Harley, president of DHL Energy Sector noted. He added that, while Angola and Nigeria have always been the most notable producers within the sub-Saharan region, more recently, deposits in East Africa were diverting the.... Read more »

Posted on : Saturday , 27th June 2015

Rwanda: City Authority Orders NIRDA to Relocate Bio-Diesel Plant

The city of Kigali has instructed the National Industrial Research and Development Agency (NIRDA) to relocate Rwanda's bio-diesel project at Mulindi. In a letter to NIRDA director general Dr Joseph Mungarulire dated May 4, the city authority says the plant located in Nyarugunga sector, Kicukiro District occupies an area designated for residential houses as per City Master Plan. "Reference is made to the master plan.... Read more »

Posted on : Saturday , 27th June 2015

Tanzania: Huge Gold Deposits Discovered At Geita's Mgusu Mining Site

Geita — EXPLORATIONS conducted at the Mgusu mining site have discovered huge deposits of gold, with the current surveys at only four plots, revealing that over 430,000 ounces of gold are available. According to the report, the four plots out of 16 at Mgusu underwent intensive drilling and surveying which showed the area was capable of producing more than nine tons of gold that have remained underground due to poor mining.... Read more »

Posted on : Saturday , 27th June 2015

Kenya Power in Sh3.2 Billion Substations Upgrade

Nairobi -Kenya Power has signed contracts worth Sh3.2 billion with local firms to implement 12 substation upgrade projects in the country. The deal will also involve the construction of additional 33 kV power distribution lines to meet growing demand for increasing number of customers. Kenya Power CEO Ben Chumo said the upgrade projects are expected to improve reliability, contribute to reduction of technical losses and provide.... Read more »

Posted on : Saturday , 27th June 2015

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

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