Market News Page No. 499| Africa Business News | Afrotrade

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Tanzania: REA Mulls Power to 1.2 Million Rural Residents By 2020

The Rural Energy Agency (REA) envisages supplying 1,250,000 rural dwellers with electricity in the next five years, thanks to about 900bn/- that the government has set aside to support the grand project. REA Chairman Edmund Mkwawa, releasing the agency report on implementation of rural energy projects in Dar es Salaam over the weekend, said the massive rural electrification project started in October 2013 and it is progressing well. The.... Read more »

Posted on : Tuesday , 26th May 2015

Tanzania Gold Mine Production Increases By 8% In Q1 2015

Acacia Mining plc (LSE: ACA) who operates three gold mines in Tanzania has announced in its First Quarter Results 2015 that its gold production has increased by 8%. Brad Gordon, Chief Executive Officer of Acacia Mining indicated that the company has delivered steady production over Q1 2015, with 181,660 ounces of gold produced as compared to 168,375 ounces in Q1 2014. This is in line with the previous quarter and underpinned by continued.... Read more »

Posted on : Tuesday , 26th May 2015

Shell to add firepower to BG assets in East Africa LNG race

Royal Dutch Shell’s $70 billion takeover of BG Group Plc will put Europe’s largest energy company in the middle of East Africa’s race to export natural gas and is set to boost the chances of Tanzania becoming a major supplier. The acquisition would include stakes in three blocks off the coast that contain one-third of Tanzania’s estimated resource. This may give the East African nation an edge in the race to first.... Read more »

Posted on : Monday , 25th May 2015

Tanzania announces One Million Solar Homes initiative

Commitments by the IFC, USAID, OPIC, Sunfunder, SNV and Off Grid Electric are expected to put Tanzania at the forefront of the U.S. Power Africa program. The Tanzanian national government has announced its One Million Solar Homes initiative aimed at providing a million Tanzanian homes with access to reliable solar electricity by the end of 2017. The project is expected to provide solar electricity for 10% of the nation’s population.... Read more »

Posted on : Monday , 25th May 2015

Tanzania: Power Firm Plans Fresh Power Tariffs

Dodoma — TANZANIA Electric Supply Company (Tanesco) plans to announce new energy tariffs soon should the industry regulator, Energy and Water Utilities Regulatory Authority (Ewura), endorse the proposal. Head of Strategic Plans of Tanesco, Mr Patrick Sankara, said here TANESCO would also introduce new plan on time use of the service, saying the company will reduce costs to customers who will agree with the new plan. "The energy.... Read more »

Posted on : Monday , 25th May 2015

TPDC completes construction of Tanzania natural gas pipeline

Aminex has been informed by the Tanzanian Petroleum Development Corporation (TPDC) that the new regional pipeline to Dar es Salaam is now complete and hydrostatic pressure testing will begin shortly. The construction of the processing plant on Songo Songo Island is approximately 95 per cent complete and it is anticipated that the main pipeline contractor will hand over the management of the infrastructure including the processing plants to.... Read more »

Posted on : Monday , 25th May 2015

Africa Oil Announces US$100 Million Financing

Africa Oil Corp. is pleased to announce that it has entered into an investment agreement with Stampede Natural Resources S.a.r.l. ("Stampede"), an entity owned by a fund advised by Helios Investment Partners LLP ("Helios"), to sell, on a non-brokered private placement basis, 52,623,377 of its common shares at a price of CAD $2.31 for gross proceeds of CAD $121,560,000 (US $100 million(1)). Upon completing, Stampede would own.... Read more »

Posted on : Monday , 25th May 2015

Tanzania Sugar-Ethanol EcoEnergy Project Looking For Investors

The Bagamoyo EcoEnergy project (BEE Project) north of Dar Es Salaam, the commercial capital of Tanzania is looking for new investors for the project. BEE project is a special purpose project aimed at developing a modern sugar cane plantation and factory producing sugar, ethanol and power for the Tanzanian market. The project at full operations is expected to process approximately 1 million tonnes of sugar cane annually and.... Read more »

Posted on : Saturday , 23rd May 2015

Tanzania: Arusha Firm Manufactures, Exports Special Vehicles

Arusha — TANZANIA has started manufacturing special cars and going to the extent of exporting them to as far as South Africa and Europe. The Arusha-based factory, Hanspaul Automechs Limited, which fabricates specially designed 'Safari' vehicles, has started exporting its products, popularly known as 'War Buses' to the neighbouring country of Kenya, South-Africa and European countries. Vice-President, Dr Mohamed Gharib Bilal, recently.... Read more »

Posted on : Saturday , 23rd May 2015

Tanzania: Self-Driving Cars to Dar Roads By 2027

SELF driving cars which may come to Tanzania by 2027 will help reduce deaths on local roads, experts from an online car marketing portal, Carmudi Tanzania Limited said. In a statement, Carmudi said although the idea of a self driving car seems to be distant for the local market which is one of the most deadly when it comes to driving in Africa. "In addition to cutting costs, self driving cars can save lives. The majority of crashes in.... Read more »

Posted on : Saturday , 23rd May 2015

Ethiopian construction firm makes inroads in Tanzania

Flintstone Engineering, a little known Ethiopian firm, is targeting the Tanzanian market, thanks to a programme run by the German Technical Cooperation (GIZ). Currently, the company is undertaking a USD 3.5m National Housing Corporation project in Tanzania, said Flintstone founder and Chief Executive Officer, Moges Tadese. “In Tanzania we have only one project which we are doing alone and a second one with almost equivalent size.... Read more »

Posted on : Saturday , 23rd May 2015

Dangote Cement New Factory In Tanzania To Start Production In August 2015

Aliko Dangote, the owner of Dangote Cement announced that the new Tanzania factory is ready to start production by August 2015.The company who is the largest manufacturer of cement in the African continent is building a USD 500 million factory in southern Tanzania with an annual capacity of 3 million tonnes. The Tanzania plant will supply the domestic market and export to landlocked countries in the region and is expected to bring.... Read more »

Posted on : Friday , 22nd May 2015

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