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

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Drilling of Kifaru-1 well in Mozambique begins

Wentworth Resources has announced the beginning of drilling operations on the Kifaru-1 exploration well by the Helmerich & Payne rig #243 in the Rovuma Onshore Concession in northern Mozambique. The Kifaru-1 exploration well is targeting Miocene sands, similar to the reservoirs in the Mnazi Bay and Msimbati gas fields in southern Tanzania, as well as Oligocene and Cretaceous sands. The Kifaru-1 well has a planned.... Read more »

Posted on : Friday , 16th January 2015

2015 Designated The International Year Of Light And Light-Based Technologies

The United Nations has designated 2015 as the International Year of Light and Light-based Technologies to raise awareness on light science and how light-based technologies promote sustainable development and provide solutions to global challenges such as energy, education, agriculture and health. The official launch of the year (IYL2015) takes place on January 19-20, 2015 in Paris. While lighting accounts for about 20 percent.... Read more »

Posted on : Friday , 16th January 2015

UK exporters competing for business in Africa

UK Export Finance (UKEF), the UK's export credit agency, has announced that it is making enhanced cover available to UK exporters competing for business in Rwanda. Enhancing the cover available means that, for the first time, UKEF will be able to provide guarantees for repayments to banks financing UK capital goods and services, as well as projects involving UK exporters. UKEF is also able to provide insurance to UK exporters against the.... Read more »

Posted on : Thursday , 15th January 2015

Africa to Set Up Independent Body to boost industrialization

Oromia is conducting a study which could lead to the establishment of an autonomous body that will be fully in charge of industrial development in the region, instead of the Industry & Urban Development Bureau as is the case now. This follows from Addis Abeba, which set up the Industry Development Bureau in November 2014, taking it out of Trade and Industry Bureau. This bureau, currently recruiting staff, could open its doors in less.... Read more »

Posted on : Thursday , 15th January 2015

Sh2bn to help boost power supply system

Kenya Power has secured $25 million (Sh2.25 billion) funding from the Africa Finance Corporation.The money is part of a $150 million syndicated loan that the company is seeking to fund rehabilitation of its network ahead of absorption of extra 5,000 megawatts of power that are to be generated from the government’s plan to scale up power production by the end of next year. The terms of the loan remain undisclosed but according to a.... Read more »

Posted on : Thursday , 15th January 2015

Centum to raise Sh39bn for Lamu coal power plant

Investment firm Centum is set to raise at least Sh39 billion as its share for the $1.8 billion (Sh163 billion) Lamu Coal power plant which it is building in a joint consortium.Centum and Gulf Energy, another Kenyan firm, form part of a consortium that won the tender to build the 960 megawatt (MW) power plant. Chinese multinationals Sichuan Electric Power Design and Consulting Company Limited, Sichuan Power Construction Company and China.... Read more »

Posted on : Thursday , 15th January 2015

Brookside to recruit 10,000 farmers on doubled processing capacity

Milk processor Brookside Dairy is targeting to recruit at least 10,000 new farmers in a bid to raise supply of the product following an expansion that doubled its uptake capacity.The milk firm has just concluded a multi-billion shilling expansion that increased its processing capacity. “The factory expansion included installation of a powder milk processing line which doubled the company’s daily raw milk intake.... Read more »

Posted on : Thursday , 15th January 2015

Keroche pumps Sh4 billion into factory expansion and brand diversity

Keroche Breweries has invested Sh4 billion to expand its Naivasha plant. Company chief executive Tabitha Karanja said the brewer will also be increasing its range of products. “Keroche is embracing advanced brewing technology to ensure Kenyans and the region get sufficient supply of high-quality bear,” she said. Mrs Karanja spoke in Nakuru yesterday during a marketing tour.She said Keroche is putting up a modern plant which.... Read more »

Posted on : Thursday , 15th January 2015

KNH receives four dialysis machines from Egypt

The Kenyatta National Hospital has received dialysis machines from the Egyptian government. Making the donation Monday, Egypt Foreign Affairs Minister Sameh Shouky revealed that his country will sponsor training for 50 health professionals on cancers affecting children. In addition, the minister said 10 children suffering from cancer will be air-lifted to Egypt for specialised treatment. Though he did not give dates when the.... Read more »

Posted on : Thursday , 15th January 2015

Pumwani Maternity set for Sh1.2bn upgrade

The Pumwani Maternity Hospital is set to get 250 extra beds and a neo-natal intensive care unit in a planned Sh1.2 billion upgrade by the Nairobi County government. The upgrade will also include six theatres, a digital centre, a laboratory, a diagnostic centre, an ICT lab and an improved school of midwifery – all to be housed in a new six-storey block. Health chief officer Robert Ayisi said in an interview on Tuesday.... Read more »

Posted on : Thursday , 15th January 2015

Sh10bn leather hub set to be built in Athi River

A Sh10 billion leather hub will be built at Kenania, Athi River, from next month in a quest to revive the tanning industry and make Kenya a big exporter of shoes, bags and other products. Industrialisation secretary Adan Mohamed said that 500 acres of land had been identified for tanneries, a training centre, manufacturing facilities and a waste treatment plant. The government will provide land and infrastructure while.... Read more »

Posted on : Thursday , 15th January 2015

New car sales hit record high on rising demand

Rising demand for luxury cars and increased orders for commercial vehicles pushed new motor vehicles sales to a record high last year, reflecting wealthy Kenyans’ growing penchant for high-end goods and vibrant economic activity. Data from the Kenya Motor Industry Association (KMI) shows that new vehicle dealers sold 17,499 units in 2014, marking a new high since the liberalisation of the local motor trade in the 1990s that.... Read more »

Posted on : Thursday , 15th January 2015

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