Market News Page No. 549| Africa Business News | Afrotrade

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East Africa Puts Pressure on Exploration Investment in Nigeria

Nigeria is no longer the preferred destination for oil exploration in Africa, the Managing Director\Chief Executive, Total Upstream Company in Nigeria, Elisabeth Proust, has said. Proust attributed this to stiff competition from East Africa with large volumes of gas discovered in Mozambique, Tanzania, Kenya and Angola. According to her, these countries have rolled out attractive terms and incentives designed to encourage.... Read more »

Posted on : Friday , 14th November 2014

ERHC Connects with Local Communities in Kenya

Residents of Turkana County want the oil and water deposits discovered in the region to benefit them as the first beneficiaries. Speaking during the second stakeholders forum between the locals and an American oil company, ERHC Energy, in Lokichogio town, Governor Josephat Nanok said Turkana people had suffered for many years due to marginalisation by former regimes. “The people of this region have gone.... Read more »

Posted on : Friday , 14th November 2014

Potential Mega Merger in the Oilfield Services Sector

There is a potential merger in the works that if goes forward, would be the most significant combination in the history of oil services and drilling. Two of the oilfield service industry’s firms, Halliburton and Baker Hughes, are in preliminary talks on a potential merger. A Baker Hughes statement said the discussions “may or may not lead to any transaction.” The Wall Street Journal cited people close to the deal as saying that.... Read more »

Posted on : Friday , 14th November 2014

Engen s Boosts Zimbabwe Downstream Ops

Engen has invested over $4 million during the past two years to bolster its retail network in Zimbabwe and build on its strong presence in the commercial, industrial and mining sectors in the country. The company more than doubled its retail network from 20 operating sites to the current 55 over the past two years. The company’s investment included building long-term relationships with high quality retailers, which strengthen.... Read more »

Posted on : Friday , 14th November 2014

Airtel and Apollo Hospitals introduce Telemedicine to Nigeria Healthcare

In the follow up of the recent launch of mobile health platforms in Nigeria healthcare. Airtel Nigeria is forming an alliance with an Indian outfit: Apollo Hospitals to enhance health care in Nigeria via telemedicine service. The telemedicine service will be available for Nigerians and Airtel’s Premier customers. It aims to reduce travels to India for the healthcare consultation and treatments that could be treated.... Read more »

Posted on : Friday , 14th November 2014

Tanzania signs investment deals worth US$1.7bn with China

Tanzania and China have signed five deals worth US$1.7bn to contribute towards the development of Tanzania, stated president Jakaya Kikwete Satellite-AfricaChina’s investment in Tanzania has risen from US$700mn in 2011 to US$2.5bn in 2013. (Image source: Thomas Leplus/Flickr) The deals would cover areas such as infrastructure, power distribution, real estate and business cooperation, added Kikwete. A report in Reuters Africa has.... Read more »

Posted on : Friday , 14th November 2014

Bua to set up US$500m cement plant in Nigeria

Bua Group International is planning to invest in a new cement plant that will be expected to have 3Mt/yr of production capacity. The new cement plant will be constructed in the Okpella, Edo State and is expected to be ready for commissioning in February 2015. After commissioning, the new cement plant will increase production of Bua Group International to 5.3Mt/yr. According to Yusuf Binji the executive director, project and technical at Bua.... Read more »

Posted on : Friday , 14th November 2014

South Korean firm to build desalination plant in Africa

A subsidiary of the company, GS Inima Environment S.A, secured the Djerba plant deal through a consortium with Spanish water management company Aqualia S.A, stated officials at GS E&C. The desalination plant is expected to process 50,000 tonnes of seawater per day into drinkable fresh water, and has been scheduled for completion in the first half of 2016. An official from the company said, “GS E&C will continue to expand.... Read more »

Posted on : Friday , 14th November 2014

East Africa developing sustainable growth from minerals industries

Outotec creates technologies to support sustainable initiatives, working with suppliers and other firms to ensure longevity in minerals market, and for minerals industries. It seeks to decouple the environmental impact of growth from the growth of welfare to a nation, through eco-efficient, sustainable technologies. Metals and minerals processing, energy and water are the core sectors addressed by Outotec. It works in more than eight.... Read more »

Posted on : Friday , 14th November 2014

Kenya: Tarmac road to be built in Lodwar

Work on a six-kilometre tarmac road in Lodwar has begun and is expected to be completed in the next nine months. This is an extension of a 3.2 kilometre tarmac road handed over to the county government by the Kenya Urban Roads Authority (Kura) Managing Director Joseph Nkadayo in July. The road, which traverses the town, was completed at a cost of Sh168 million. County Roads chief officer Emmanuel Ekai said in an interview that the.... Read more »

Posted on : Friday , 14th November 2014

US firm Tetra Tech Inc to oversee development of Kenya s smart city

Colorado-centred Tetra Tech Inc is the lead firm for the project and has been contracted as the Master Delivery Partner 2 (MDP2) for the smart city project in Kenya. The MDP2 is a consortium of 11 firms from the US, Germany, Netherlands, UAE and five firms from the east African nation. Michael Rothhammer, vice-president of Tetra Tech Inc, said, “With years of experience in signing and developing technology across the globe, we will.... Read more »

Posted on : Friday , 14th November 2014

Fluor extends operations in Africa

According to Fluor, the new office will support Africa in working towards expanding its economy and human development. “We want to meaningfully contribute to its development by supporting clients with engineering, procurement, construction and maintenance services,” said country manager, James Hughes. The new office will assist in the launch of Fluor’s projects across multiple industries including oil, gas and.... Read more »

Posted on : Friday , 14th November 2014

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