Market News Page No. 513| Africa Business News | Afrotrade

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Kenya putting in place measure to increase cotton output to 140,00 bales

Cotton production of Kenya stood at approximately 30,000 bales in 2014 an increase from 2013, when production stood at 22,000 bales due to the effects of drought, was informed Agriculture Fisheries and Food Authority (AFFA) Interim Head of Fibre Crops Directorate Anthony Muriithi in Nairobi on Wednesday. Muriithi at the Pre-Launch of the Application of the Coffee Kenya Mark of Origin said that despite production deficit, Kenya.... Read more »

Posted on : Thursday , 22nd January 2015

Qalaa Invests in East Africa Cargo as China Builds Rail Link

Egyptian private-equity company Qalaa Holdings SAE is investing $70 million to accelerate the movement of rail cargo carried from East Africa’s busiest port, as it faces competition from a new Chinese-backed link. Qalaa controls Rift Valley Railways Ltd., the operator of a railway built almost a century ago running from Kenya’s Mombasa port to neighboring Uganda. It covers a portion of the same route as a new rail.... Read more »

Posted on : Thursday , 22nd January 2015

Eni signs concession agreements for two offshore exploration blocks in Egypt

Italian energy firm Eni has signed concession agreements to explore two new blocks offshore Egypt. The blocks, North Leil and Karawan, are located in the deepwater Egyptian Mediterranean, west of the Shorouk block, which Eni acquired in 2014. Eni subsidiary IEOC will operate the North Leil and Karawan blocks, which cover areas of 5,105km² and 4,565km² respectively. Eni owns the entire interest of North Leil and has a 50%.... Read more »

Posted on : Thursday , 22nd January 2015

Eni gets Angola extension

The company says that the original exploration period expired in November 2014 and Eni requested an extension in order to complete the exploration activities already identified: the three-year plan envisages the drilling of three wells and 1,000 square kilometers of 3D seismic. According to Eni, should the exploration activities be successful, any new discoveries can be developed quickly using existing production.... Read more »

Posted on : Thursday , 22nd January 2015

Solarcentury joins with local Kenyan company to establish commercial PV offer for East Africa

olarcentury (London, UK) has joined forces with local Kenyan company East African Solar to establish its solar photovoltaic (PV) business in East Africa. The company has been active in East Africa from its Nairobi office since June 2013, headed up by Dr. Dan Davies, a founder of Solarcentury. The new company combines Solarcentury’s British engineering excellence and experience of delivering, operating and maintaining solar PV.... Read more »

Posted on : Wednesday , 21st January 2015

Grant to boost development of solar power and �mini grids� in Tanzania

he Sustainable Energy Fund for Africa (Sefa) has approved a preparation grant for the development of a number of “solar-hybrid mini grids” in rural growth centres in Tanzania, the African Development Bank (AfDB) has announced.21 Jan 2015 The $420,000 grant has been awarded to Jumeme Rural Power Supply Ltd, which is a joint venture company formed by German energy supply systems firm Inensus GmbH, Austria-based .... Read more »

Posted on : Wednesday , 21st January 2015

Kenya seeks funds to grow power sector

NAIROBI – KENYA requires $2 billion (Sh182,5 billion) to generate an additional 5 000 megawatts of electricity in two years. The government would start initiating a proposed 960 MW coal power plant in Lamu before embarking on other power projects to produce 4040 MW to be added to the national grid. This, according to experts will help boost economic growth, job creation as well as lower the price of electricity. The East African.... Read more »

Posted on : Wednesday , 21st January 2015

Kenya: M-Kopa Solar Wins Sh133 Million Future Energy Prize

A Kenyan green-energy company has become the first firm in Sub-Saharan to win the Zayed Future Energy prize in the enterprise and SME category. M-KOPA Solar was announced the winner at the opening ceremony of the annual Abu Dhabi Sustainability Week. The Zayed Future Energy Prize brings with it a US$1.5 million (Ksh133 million) prize. M-KOPA Solar will use these funds to launch a training and development program called M-KOPA University, which.... Read more »

Posted on : Wednesday , 21st January 2015

Qalaa Holdings Invests in East Africa�

Egyptian private-equity company Qalaa Holdings SAE is investing $70 million to accelerate the movement of rail cargo carried from East Africa’s busiest port, as it faces competition from a new Chinese-backed link. Qalaa controls Rift Valley Railways Ltd., the operator of a railway built almost a century ago running from Kenya’s Mombasa port to neighboring Uganda. It covers a portion of the same route as a new rail line under.... Read more »

Posted on : Wednesday , 21st January 2015

UK based Company Looks at Investment To East Africa

Old Mutual PLC Friday said it is buying a 23.3% stake in Kenya-based UAP Holdings Ltd, an East and Central African financial services company, for KES8.88 billion, or about USD97.6 million, part of its strategy to expand in Africa. The acquisition comes as the FTSE 100 investment, savings, insurance and banking group looks to grow customer numbers in Africa, excluding South Africa, to 10 million by the end of the decade. In a statement,.... Read more »

Posted on : Wednesday , 21st January 2015

Tullow, Africa Oil to drill up to 6 basin openers in Northern Kenya in 2015

Tullow Oil and Africa Oil say they plan to drill 6 basin openers in North Western Kenya’s North Lokichar basin, Kerio basin as well as in North Turkana according to the latest presentation by Africa Oil. Of the six wells 4 of them are set to spud in Q1 including Epir-1 and Engomo-1 both of which have began drilling in North Kerio and North Turkana while North Samaki and Tausi in North Turkana and North Lokichar are both set.... Read more »

Posted on : Wednesday , 21st January 2015

Mtwara to Dar Es Salaam Gas Pipeline Project update

Completion and the commissioning of treatment plants natural gas – February 2015; Construction of Valve Stations 16 required for the entire pipeline will be completed at the end of January 2015; Construction of facilities receiving natural gas Mtwara, Somanga, Vote, Kilwa, Kinyerezi and Tegeta in Dar es Salaam will be complete at the end of January 2015; Work to make attempts to greater water pressure on Bomba.... Read more »

Posted on : Wednesday , 21st January 2015

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