N e w s

Mart Resources restores pipeline, to boost Forcados exports

    Mart Resources and co-venturers, Midwestern Oil and Gas Company and SunTrust Oil Company has confirmed completion of repairs on the damages Umugini pipeline in Rivers State.   The partners in a statement issued at the weekend, stated that the 51-kilometre Umugini pipeline tie-in at the Eriemu flow station and other start-up activities have been successfully completed with required line fill process to ship oil to the Trans.... Read more »

Posted on : Thursday , 16th October 2014

Hyundai heavy-duty truck range may be introduced onto SA market

 Hyundai Automotive South Africa (HASA) is evaluating the viability of introducing the heavy-duty Hyundai Xcient truck range onto the South African market, says HASA commercial vehicles director Wade Griffin. The market study should be completed towards the end of the year, he adds.  “The rand : dollar exchange rate is not favorable at the moment.” Griffin says the right-hand-drive version of the Xcient is.... Read more »

Posted on : Thursday , 16th October 2014

Industrialization: East Africa's challenges are its opportunities

 President Paul Kagame yesterday addressed the Global Business Forum in Dubai hosted by the Dubai Chamber of Commerce and Industry. The event was organised under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, UAE vice-president and and ruler of Dubai. As the region’s largest African economic event, the forum brought together seven 700 government and business leaders for a two-day discussion aimed at strengthening economic.... Read more »

Posted on : Thursday , 16th October 2014

Tanzania: Laying foundation for Industrialized Growth in Africa

 TANZANIA, like many other developing nations, is on the route to build a robust manufacturing sector to increase its contribution to growth and prosperity of the people. Despite being small and in its nascent stages, Tanzania's manufacturing sector has a big potential to create jobs in the rural and urban areas but with an increased investment. This is part of the speech by the Prime Minister Mizengo Pinda to the Chief Executive Officers.... Read more »

Posted on : Thursday , 16th October 2014

Emirates Airlines, World s Largest Carrier Targets 40% Operational Growth In Africa

Emirates, the world’s largest carrier by international traffic, says it would expand its operation in Africa by more than 40 percent in the next decade. This is in line with the airline’s 10 years growth plan which includes investment expansion as well as the provision of critical links to emerging markets globally. Dubai, Emirates base, serve as the fastest route from Africa to Asia – a major trade partner with sub-Sahara.... Read more »

Posted on : Thursday , 16th October 2014

Kenya: Naivasha Power Plant Complete

Work on the 140mw Olkaria IV power plant, Naivasha, is complete.   The plant will be commissioned on Friday by President Uhuru Kenyatta.   Energy Cabinet Secretary Davis Chirchir said the area is already producing 210mw of the expected 280mw.   He said the 210mw has been pumped into the national grid from Olkaria I and IV power plants ahead of the commissioning.   The CS said plans are underway to replace diesel power.... Read more »

Posted on : Wednesday , 15th October 2014

Algeria to Build First Nuclear Plant Before 2029

Oran — Algeria will build its first nuclear plant before 2029, declared Sunday in Oran Minister of Energy, Youcef Yousfi.   "Nuclear energy is not for soon, but we cannot ignore that it is a capital energy industry, likewise the other resources, devoted to our energy efficiency and our economic development," the minister told a news conference held on the sidelines of the International Conference of Gas Industry in.... Read more »

Posted on : Wednesday , 15th October 2014

Egypt: Government Announces Project to Produce Bio-Diesel From Cooking Oil

The ministry of supplies and internal trade has concluded its technical research for a project to produce bio-diesel from cooking oil, the minister announced on Tuesday, adding that the project will be enacted "soon".   In a press statement released by the ministry, Supplies Minister Khaled Hanafi said that the project would provide job opportunities for the youth and produce around a million litres of diesel.... Read more »

Posted on : Wednesday , 15th October 2014

Acumen, Novastar Invest $2.5m In Uganda-based Solar Energy Company

Acumen, a non-profit global venture fund together with East Africa-focused investment firm, Novastar Ventures, Friday announced a €2 million ($2.5 million) equity investment in a Uganda-based company.   The company, SolarNow, that sells modular high quality solar home systems to rural populations across the country does not only sells solar home systems, it also provides a financing solution that allows customers to pay for the.... Read more »

Posted on : Wednesday , 15th October 2014

Kenya: 56 Homa Bay Schools Get Solar Lighting Panels

TWO organisations have partnered with Homa Bay county government to instal solar panels in 56 schools.   Turkish International Corporation Agency and Rural Development Solutions will supply lighting gadgets to primary and secondary schools which are far from the national grid.   Speaking during a workshop in Agricultural Training Centre, Homa Bay town, Rural Development Solutions CEO Sven Rene said his organisation wants to provide.... Read more »

Posted on : Wednesday , 15th October 2014

Algeria to invest $3.48 bn on new gas pipelines

 Sonatrach, an energy company in Algeria, will invest $3.48 billion in establishing new gas pipelines throughout the country to improve capacity of existing pipeline network, its interim CEO said in a conference on gas industry held in the western province of Oran.   He added that the new gas pipelines under construction will be ready by July 2016, and will help deliver some 20 billion cubic meters annually.   The country has.... Read more »

Posted on : Wednesday , 15th October 2014

Nigeria: World Bank Tasks FG to Raise Excess Crude Account to U.S.$6.3 Billion

 The World Bank has advised the federal government to increase its fiscal buffers by raising the excess crude account (ECA) to $6.3 billion.   Finance Minister, Dr. Ngozi Okonjo-Iweala, disclosed this in Washington DC, saying the World Bank tasked the Federal Government on the need to increase its fiscal buffers by building external reserves to about $6.3 billion, up from the present level of $4.1 billion.   Speaking to.... Read more »

Posted on : Wednesday , 15th October 2014



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