Market News Page No. 519| Africa Business News | Afrotrade

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Rise in royalties boosts state's mining revenue

Kenya's mining revenues stood at Sh600 million in the first half of the 2014/2015 financial year, boosted by royalties from increased mineral exploration, Cabinet secretary Najib Balala said yesterday. "We are hopeful that the Sh1.2 billion target for the current year will be achieved by end of this financial year," Balala said. According to the Economic Survey 2104, the total value of mineral output declined by 28.6.... Read more »

Posted on : Tuesday , 27th January 2015

Kenya among key emerging markets investment

The ranking takes note of the massive efforts being made in infrastructure development, the power sector and improving macro-economic stability. Commenting on the standing, the Cabinet Secretary for Industrialisation and Enterprise Development Adan Mohamed said there is growing confidence by global investors in the country. “The reducing cost of doing business and stable macro-economic environment continues to make a.... Read more »

Posted on : Tuesday , 27th January 2015

Barclays taps into growing Chinese investments in Kenya

The bank has singled out growing investments and opportunities for trade between Kenya and China as a key economic catalyst hence the need to tap into it. Bank of China and Barclays Bank have already established a Chinese Business Unit, and also unveiled a number of propositions designed to provide financial services for the Chinese enterprise. Speaking in Nairobi, during a dinner held to celebrate the Chinese New Year,.... Read more »

Posted on : Tuesday , 27th January 2015

TPDC: MTWARA GAS PIPELINE READY BY FEBRUARY

The Tanzania Petroleum Development Corporation (TPDC) has said the construction work of the natural gas pipeline will be completed by the end of this February. The completion of 542 km pipeline between Madimba –Mtwara and Dar es Salaam will save US $1 billion annually in heavy oil for electricity generation. Acting TPDC Managing Director James Andilile said the major construction works have been completed by 97 percent, and that the.... Read more »

Posted on : Tuesday , 27th January 2015

EAC - 2015 global economic prospect report

The World Bank says in its 2015 global economic prospect report that several low-income countries, including those in East Africa, may graduate to middle-income status on the back of substantial oil and gas discoveries. “East Africa, in particular, has emerged as a “new frontier” for oil and gas in the past half-decade…newly discovered oil reserves in Uganda and Kenya have the potential of coming on-stream by the end of.... Read more »

Posted on : Tuesday , 27th January 2015

Italians win Uganda Solar Energy project

A Ugandan-Italian consortium Simba Telecom/Building Energy SPA and the consortium of Access/TSK Electronica of United Arab Emirates and Spain will invest $38million in two Solar Power Energy projects in Eastern Uganda. The two consortium companies will generate 20MW of electricity, each generating 10MW in Soroti and Tororo districts in Eastern Uganda. The United Arab Emirates and Spanish consortium of Access/TSK Electronica.... Read more »

Posted on : Tuesday , 27th January 2015

Top Gas Provider Is Back In Business

Nigeria has recommenced operations on its Trans Forcados oil pipeline, a senior oil official said on Monday. This will revive the generation part of the network which is paramount to almost half of the country’s gas production. David Ige, Executive Director of gas and power at Nigerian National Petroleum Corp, told Reuters that the pipeline, which had been shut for a week due to sabotage, resumed on.... Read more »

Posted on : Tuesday , 27th January 2015

Tanzania reports bumper harvest

DAR ES SALAAM, Tanzania – The government has announced that last year the country had bumper harvest of food crops, in particular cereals, but is now struggling in procurement and storage of the surplus. According to the Ministry of Agriculture, Food Security and Cooperatives, the country produced 16.02 million tonnes of cereals last year compared to 14.38 million tonnes in the preceding season reflecting an increase of 1.64.... Read more »

Posted on : Tuesday , 27th January 2015

6000 Chinese firms want in on Tanzanian ores

MWANZA, Tanzania – Chinese resource companies are looking at making Tanzania an investment stronghold. Mining and infrastructure projects are attracting more Chinese companies and individuals in the Tanzanian economy. There are 6,000 Chinese interested in exploiting minerals in South Tanzania. The Njombe Regional Commissioner, Rehema Nchimbi was quoted recently as saying, “There are more than 6,000.... Read more »

Posted on : Tuesday , 27th January 2015

Tanzania: 45 Villages in Mara to Get Electricity

Musoma — AS part of the government's rural electrification plan, a total of 45 villages in Mara Region will be connected to power through the Rural Energy Agency (REA), it has been announced. The announcement was made by the Minister of Energy and Minerals, Prof Sospeter Muhongo, who is on a six-day tour of the region to inspect implementation of the second phase of rural electrification projects undertaken by REA and Tanzania Electric.... Read more »

Posted on : Monday , 26th January 2015

Kenya: KPLC Launch Sh 35 Million Mombasa Slum Electricity Project

An electricity project will ensure power connection to more than 3,000 households in Kaa Chonjo slum, Tudor. Kenya Power launched the project in Mombasa town yesterday. Speaking at Kaa Chonjo slum, managing director Ben Chumo said the project is partly funded by the World Bank. As the project gears up on one side, It is an invitation to all businessmen dealing in power and energy sector to expand their business in this pool of.... Read more »

Posted on : Monday , 26th January 2015

Southern Africa: Renewable Energy - Future of SADC Energy Sector

Harare — Access to clean sustainable energy has become part of the international development agenda during the past two decades, reflecting the global recognition of the important role that energy plays in the delivery of basic services and in generating jobs and income. Widely regarded as the "Missing Millennium Development Goal (MDG)", energy has a direct impact on the welfare of people, facilitating the supply of water and.... Read more »

Posted on : Monday , 26th January 2015

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