Market News Page No. 533| Africa Business News | Afrotrade

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Eni starts production at Nene Marine Field, offshore Congo

Eni has started production from Nené Marine field, offshore Congo, just eight months after obtaining the production permit and 16 months following the exploration discovery. The field is located in Marine XII Block, approximately 17 km from the coast. The start of production reflects another important success for Eni in Congo, a few days after the announcement of the excellent results of the test of Minsala Marine 1 well, also.... Read more »

Posted on : Tuesday , 6th January 2015

Eco Atlantic farms out licenses offshore Namibia

Eco (Atlantic) Oil & Gas Ltd. (TSX-V:EOG) (NSX:EOG) is decreasing its near- to mid-term financial obligations by farming out part of its offshore Namibian licenses for carry and cash, and has revised and reduced its next-year work program in Namibia. Through its wholly owned subsidiary, Eco Oil and Gas (Namibia) (Pty) Ltd. (Eco Namibia), Eco Atlantic has entered into an amended and restated farm-out agreement with AziNam Ltd.,.... Read more »

Posted on : Tuesday , 6th January 2015

Africa: Improvement & Growth in the Manufacturing Sector

Africa should raise the profile of the manufacturing sector by investing in local value addition of its mineral industry to hedge against the falling prices of copper on the world market. Zambia Association of Manufacturers (ZAM) president Bright Chunga said decisive choices must be made such as local value addition in the mining industry. This would help tackle effects resulting from fluctuations in the prices of copper on the.... Read more »

Posted on : Tuesday , 6th January 2015

Africa:Total Investment Hits Over D4 Million

The total investment in 2014 has hit a staggering amount of more than D4M, according to its officials. Most of the investment was focused on water supply, education, health, environment and conflict resolution, the Siffoe based youth-led organisation chairperson, Kalifa Kanteh, disclosed. Speaking Saturday during the organisation's third annual assembly, he said their projects were divided into 12 core areas; all of.... Read more »

Posted on : Tuesday , 6th January 2015

EU Provides €40 Million Grants to Support Trade, Investment, Industrial Development in Africa

The ECOWAS Commission in Abuja, ECOWAS, West African Economic and Monetary Union (WAEMU) and the European Union, together with implementing partners has launched two major programmes representing an integrated initiative, which aims at promoting intra- and inter-regional trade, improving the business climate and strengthening the productive capacity of West Africa. These initiatives are aimed at fostering economic growth and.... Read more »

Posted on : Tuesday , 6th January 2015

Inchcape Shipping Services expands Nairobi office as East Africa production nears

Global marine, cargo and supply chain solutions provider Inchcape Shipping Services (ISS) has announced another key hire to its African regional management team, as the company gears up for ambitious growth across the region in 2015. Heading the team and to be based in Nairobi is Riaan Blom who takes up the position of Vice President Sales, Africa having joined the company this month. Riaan has a spanning over 20 years.... Read more »

Posted on : Tuesday , 6th January 2015

2015 continues to look promising for the oil and gas sector in Kenya

2015 continues to look promising for the oil and gas sector in Kenya with various planned projects expected to continue while new companies will begin work in the various acreages. In our radar this January is the planned Badada-1 well in Block 9 located in the Anza basin which is expected to spud with the drilling contracts already awarded to Greatwall which will operate the GW-190 land rig while Aberdeen-based Norwell Engineering will.... Read more »

Posted on : Monday , 5th January 2015

Bitature woos Belgian investors to East Africa

“We as a country have worked hard over the years to ensure that our future is stable by ensuring peace and security,” he said. Bitature, who is the chairman Simba Group of Companies made the remarks before the Belgium business community in Uganda at the second gathering of the Belgium Uganda Business Forum. The forum was held at the residence of the Belgium ambassador in Uganda. He said the private sector in Uganda, to which.... Read more »

Posted on : Saturday , 3rd January 2015

Africa: Jubilee to acquire firms in expansion strategy

“We expect to start operations in various countries from next year. Our approach will involve acquiring existing companies as well as starting new ones,” said the Company‘s Chairman Nizar Juma. In an interview with Business Beat, Mr Juma explained that the company has already started the process of setting up companies in Ethiopia, DRC Congo, Mozambique, Madagascar, Senegal and Côte d’Ivoire in West.... Read more »

Posted on : Saturday , 3rd January 2015

Private sector upbeat on increased economic growth as 2015 unravels

They welcomed the Government’s continued commitment to transforming the country’s infrastructure, mainly roads and installation of electricity. “This demonstrated guarantee will help reduce the cost of doing business and open up the country to quality investments,” Kenya Private Sector Alliance ( KEPSA) Chief Executive Officer Carol Kariuki said in a telephone interview. She said the business sector is expected to.... Read more »

Posted on : Saturday , 3rd January 2015

Uganda begins evaluations of bids for Hoima-Kampala pipeline

The Ugandan government has announced that it has started evaluating bids from a number of international firms for the construction of the export pipeline from Hoima (refinery site) to Kampala (distribution terminal) stretching over 200 kilometers. The companies will be charged with the responsibility of generating a blueprint for the route to be followed as well as carryout an environmental baseline study. According to.... Read more »

Posted on : Friday , 2nd January 2015

Aminex receives approval to sell stake in Tanzanian licence

Aminex has announced that it would sell up to 13 per cent interest in the Tanzania’s Kiliwani North Development Licence (KNDL) to Solo Oil for US$7mn The company has received no objection from the Tanzanian Ministry of Energy and Minerals and said that the completion of the initial 6.5 per cent interest remained subject only to a formal deed of assignment being signed by all participating parties. Solo Oil and Aminex have agreed to.... Read more »

Posted on : Friday , 2nd January 2015

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