Market News Page No. 531| Africa Business News | Afrotrade

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Security companies reap from LNG exploration in Tanzania

BG Group has contracted pan-African security provider Warrior Security Company to secure its sites in Tanzania, in a partnership that has seen the 3500-strong security company extend its recruitment drive and training programme and bring innovative terms and conditions to Tanzanian security staff. To ensure top rate security at the sites, Warrior says it has introduced higher salaries, shorter shifts, staff transport and.... Read more »

Posted on : Thursday , 18th December 2014

Tanzania: Shot in the Arm for Energy Sector Projects

The United States government, through the Millennium Challenge Corporation (MCC), has promised to provide 78 million US dollars to support the development of high impact investment projects in the energy sector, it was announced yesterday. The agreement was signed on Friday in Dar es Salaam between the Minister for Finance and Economic Affairs, Ms Saada Mkuya and MCC Vice-President of Compact Operations, Mr Kamran Khan. Speaking during.... Read more »

Posted on : Thursday , 18th December 2014

Tanzania: Over 1,000 to Access Power in Mbinga Next Year

Dodoma — MORE than 1,100 people in Mbinga district, Ruvuma region, will be connected with electricity next year through the Rural Energy Agency (REA), Parliament was told on Tuesday. This was said by Deputy Minister for Energy and Minerals, Charles Kitwanga, when responding to a question raised by Gaudence Kayombo (Mbinga North - CCM) who wanted to know about government plans to distribute electricity in all villages in.... Read more »

Posted on : Thursday , 18th December 2014

IDC looking to establish manufacturing plant in Africa

The Industrial Development Corporation (IDC) has issued a call for proposals to conduct a prefeasibility study (PFS) on the establishment of a soda ash, or sodium carbonate, manufacturing plant in South Africa. The IDC said soda ash was used in a number of manufacturing processes and, while the production of natural soda ash was largely dependent on trona ore reserves, present in Wyoming, in the US, synthetic soda ash was.... Read more »

Posted on : Thursday , 18th December 2014

Indian trade mission to Africa to generate millions

The Federation of Gujarat Industries (FGI) hopes that its current, nine day, trade mission to South Africa will, on its own, generate at least $10-million in bilateral trade. So stated FGI senior VP and mission head Janak Seth at a trade briefing in Sandton (north Johannesburg) on Thursday. Gujarat is a coastal state in north west India. While the state contains 5% of India’s population, it is responsible for 17% of the.... Read more »

Posted on : Thursday , 18th December 2014

Increasing enthusiasm in the African Steel industry

There is a growing willingness from industry to accept different stainless steel materials, particularly duplex stainless steels, Southern Africa Stainless Steel Development Association Fabricator Sector chairperson Gary Crawford tells Engineering News. He says that, for example, 2304 duplex stainless steel is now quite often specified for fabrication, noting that sole South African stainless steel manufacturer Columbus Stainless.... Read more »

Posted on : Thursday , 18th December 2014

East Africa to drill 253 wells in 2015 to boost ailing economy

udan’s Minister for Oil Makawi Mohamed Awad has said his ministry plans to drill 253 wells next year as the country boosts its oil and gas reserves and seeks to attract foreign investments. Makawi who was speaking before Parliament on Tuesday said the wells would increase the country’s oil reserves by 65.4 million barrels and those of gas by 300 billion cubic feet. The wells are to be drilled in Blocks 4,6 and.... Read more »

Posted on : Wednesday , 17th December 2014

Atlas Development & Support Services lists on the Nairobi Securities Exchange

Nairobi-headquartered support services and logistics company Atlas Development & Support Services (ADSS or Atlas cross listed on the Growth Enterprise Market Segment (‘GEMS’) of the Nairobi Securities Exchange, having successfully raised KES 450 million (US$5 million) through a private placement to Kenyan investors. According to Atlas CEO Carl Esprey the listing hopes to tap from the growing opportunity in the.... Read more »

Posted on : Wednesday , 17th December 2014

Kenya Power Invest Sh96 Million in Kakamega Power Upgrade

Nairobi — Power supply in Kakamega is expected to improve as Kenya Power conducts a massive operation this weekend to rehabilitate power equipment and network serving the County at a cost of Sh96 million. Managing Director Ben Chumo says the exercise will ensure that the electricity network serving Kakamega County is robust and power supply consistent, to support efforts to minimise power outages occasioned by both planned and.... Read more »

Posted on : Wednesday , 17th December 2014

Kenya to Begin Sale of Power to Rwanda in 2015

KENYA will export power to Rwanda from next year to help the country meet its growing demand for electricity at lower costs. The two East Africa Community member states yesterday signed the power trade deal in which a 220 KV line will be built from Kenya to Rwanda through Uganda to transmit the 30 MW of power to be sold tentatively from July. Under the Power Purchase Agreement signed, Kenya will charge 12 US cents per kilowatt.... Read more »

Posted on : Wednesday , 17th December 2014

Public private tooling partnership yielding results for african manufacturing

The Intsimbi National Tooling Initiative continues to partner with the Department of Trade and Industry (DTI) and the Toolmaking Association of South Africa to provide workplace learning for students that wish to pursue a career in the manufacturing industry. To date, over a period of four years, companies in the manufacturing industry have provided more than 740 000 hours of on-the-job training to students as part of the tooling.... Read more »

Posted on : Wednesday , 17th December 2014

China sparks Investment in African steel industry

Growth in the steel industry worldwide has stabilised following substantial fluctuations during the recession, but a fair amount of uncertainty remains, particularly as a result of structural change in the Chinese economy, according to WorldSteel Association director-general Edwin Basson. The global steel industry produced 1.53-billion tons a year and recorded growth of 3.8% in 2013, with 2% growth expected in 2014. Basson told an.... Read more »

Posted on : Wednesday , 17th December 2014

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