Market News Page No. 560| Africa Business News

SunPower to open a new manufacturing plant in South Africa

SunPower, a solar technology and energy services provider, has announced it will open a solar panel manufacturing facility in Cape Town come 2015. The new move will help in meeting growing demand for solar technologies in the region. The manufacturing plant is expected to produce SunPower’s E20/440 solar panels and will offer 150 job opportunities to the locals. The plant will be under the ownership of SunPower and be.... Read more »

Posted on : Friday , 7th November 2014

Nigeria: Oil Revenue Disclosure From Nigeria, Others Hits U.S.$1.3 Trillion

THE Nigerian government and its counterparts in Extractive Industries Transparency Initiative (EITI) compliance countries have disclosed over $1.3 trillion worth of revenue from oil, gas and mineral resources as at October 2014. Besides, EITI has won the support of over 90 global investment institutions that collectively manage over $19 trillion, while the total financial flows from the extractive oil and gas industry in.... Read more »

Posted on : Thursday , 6th November 2014

Kenya: Investors Eye Turkana's Looming Oil Boom

Property developers, local and foreign, are carrying out surveys on investment opportunities in Turkana county with an eye on the boom expected when production of oil begins. Turkana county government says it has been approached with enquiries on how to go about investing in the region and expects some of the investments to fall through. "Interest by investors has gone up and we are putting.... Read more »

Posted on : Thursday , 6th November 2014

Nigeria: As Lagos Joins Oil Producing States

THAT Lagos State is on the verge of becoming a member of Nigeria's oil producing states by 2015 is good news. The state's government has been undoubtedly progressive and visionary, hence the enabling environment it has created to make this possible is hardly surprising. This new-found status, therefore, is now a clarion call on other states to rise up to the current economic challenges, think and act positively in the larger.... Read more »

Posted on : Thursday , 6th November 2014

NHC projects 1.0 trillion/- investment by 2015

National Housing Corporation (NHC) is optimistic that its total project investment will grow to 1.0 trillion/- next year, up from 800bn/- this year due to improved infrastructure in the country. Speaking in Dar es Salaam over the weekend during the Expo builds and auto mart exhibitions, NHC Director General, Nehemiah Mchechu said project investments are growing fast without relying on the government. He said the corporate.... Read more »

Posted on : Thursday , 6th November 2014

Uzuri Hotel Resort in Zanzibar to be ready in 2016

A new hotel resort that will be constructed on the island of Zanzibar will be expected to open its doors in early 2016. The architectural and interior design work for the new Uzuri Hotel Resort was previously awarded to Jesco+Whiles according to reports, and the design is expected to conform to the local culture. It will be located at the Indian Ocean off the Tanzanian coast. The planned Uzuri Hotel Resort project, a development.... Read more »

Posted on : Wednesday , 5th November 2014

Egypt and Saudi sign a US$350m oil, power deal

Egypt has signed a $350 million worth of financing agreements with Saudi Arabia to upgrade the former’s power grid and secure imports of petroleum products. Egypt has been facing the worst energy crisis in decades and the government has been struggling to even supply enough gas to the power stations. The Arab world’s most populous country has turned from a gas exporter to an importer in the recent years as it.... Read more »

Posted on : Wednesday , 5th November 2014

Photonworld Solar is looking for business partners in Africa to act as agents or distributors for their products

Photonworld Solar is an OEM Supplier of Renewable Energy Components, Based in the United Kingdom and boasting an operations office in the Northern Nigerian State of Kano. Their passion is to promote and develop the use of photovoltaic modules and wind turbines as a renewable source of clean useable energy throughout the world. They have focused on Nigeria as a starting point due to their high knowledge of the country. They are.... Read more »

Posted on : Wednesday , 5th November 2014

US$145m wind power farm project in Nyandarua-Kenya receives green light

The US$145m wind power project in Nyandarua County has received a green light from the political class and area residents to have it go ahead. The project is expected to add 61MW of electricity to the national grid. Funded by various foreign investors, the project is being undertaken by Kinangop Wind Park Ltd which is a Kenyan energy company. It had initially stalled as investors, politicians and land owners had disagreed on its.... Read more »

Posted on : Wednesday , 5th November 2014

Tanzania: Economist Warns Tanzania Over Gas Revenue

Tanzania has been warned to utilize wisely its revenue expected to obtain from natural gas resource for the national sustainable human development. Speaking on the political economy of natural resource exploration, Professor Ola Olsson, Senior Lecturer from School of Business, Economics and Laws, University of Gothenburg, Sweden, said the natural resource will automatically increase cash inflow in term of revenue and economic.... Read more »

Posted on : Tuesday , 4th November 2014

Kenyan Cement Maker To Build $19m Coal Power Plant

Kenya’s National Cement, a member of the Devki Group of Companies plans to build a Sh1.7 billion ($19 million) coal-fired power plant to feed its clinker manufacturing and limestone mining operation in Kajiado, 80 kilometres south of the country’s capital Nairobi. The power plant will produce 15 megawatt of electricity and is seen as a better alternative to the expensive national grid. “The cost of.... Read more »

Posted on : Tuesday , 4th November 2014

SunPower Announces 160-Megawatt Solar Panel Manufacturing Facility in South Africa

SAN JOSE, Calif. and CAPE TOWN, South Africa, Nov. 4, 2014 /PRNewswire/ -- SunPower Corp. (NASDAQ: SPWR), a leading solar technology and energy services provider, today announced plans to own and operate a solar panel manufacturing facility in Cape Town, South Africa, to meet the growing demand for solar in that region. At this new plant, SunPower will manufacture its high efficiency SunPower E20/440 Solar Panels and.... Read more »

Posted on : Tuesday , 4th November 2014