Market News Page No. 576| Africa Business News | Afrotrade

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East Africa: EAC States Could Switch to Cleaner Fuels Effective January 2015

Plans for five countries in East Africa to adopt cleaner fuel standards in 2015 are likely to help absorb excess low-sulphur oil products coming out of Middle East and Indian refineries, where new capacity is being added, industry sources said. Rwanda, Kenya, Tanzania, Uganda and Burundi are due to switch to the cleaner fuels from January 2015, according to documents posted on the websites of the regional intergovernmental.... Read more »

Posted on : Wednesday , 3rd September 2014

Kenya: Efforts to tackle malnutrition receive boost

Glenmark, a global integrated pharmaceutical company, will spend Kshs5 million this year on a three-year programme to address malnutrition in Nairobi's Kibera slums. Speaking during the launch of the programme in Kibera, Jessica Mbochi of the Division of Nutrition in the Ministry of Health said that about 35% of children below the age of five are malnourished and called for more efforts to address nutritional needs of underprivileged.... Read more »

Posted on : Saturday , 6th September 2014

Philips to establish research and innovation hub in Kenya

Philips has announced the establishment of its Africa Innovation Hub in Nairobi, which is to work both on the creation of new inventions, as well as bringing them to the market. It will also do application-focused scientific and user studies to address key challenges, like improving access to lighting and affordable health care, as well as developing innovations to meet the aspirational needs of the rising middle class in Africa. The Philips.... Read more »

Posted on : Saturday , 6th September 2014

African, U.S. Leaders Announce New Partnerships to Help Farmers

The New Alliance for Food Security and Nutrition now has commitments from private investors totaling more than $10 billion, U.S. and African officials announced at the U.S.-Africa Leaders Summit. These new investments are expected to create about 650,000 jobs and reach over 5 million small-holder farmers in initial New Alliance and Grow Africa countries, the U.S. Agency for International Development (USAID) said in a press release. This.... Read more »

Posted on : Tuesday , 2nd September 2014

ENOC Africa Set to Further Invest in East Africa's Oil Terminal, Storage Facilities

In a bid to create reliable petroleum products market in the country, a subsidiary of Dubai government owned oil firm Emirates National Oil Company (ENOC Africa) operating in the country is expected to invest heavily in terminal and oil storage facilities. The move is expected to immensely increase oil supply in the local market and the region at large. ENOC Africa is a joint venture company between Petro (T) Limited, a.... Read more »

Posted on : Tuesday , 2nd September 2014

East African Oil & Gas Market -Investment Opportunities

Upstream & Midstream Spending in Tanzania, Mozambique, Kenya, Uganda, Ethiopia, South Sudan & Somalia East Africa is fast becoming one of the world's most interesting oil and gas hotspots. For many years the area was neglected by the world's oil and gas industry, and even in Africa it was overshadowed by the rapid development in West Africa and the established markets in North Africa. However, with the discovery of both oil.... Read more »

Posted on : Tuesday , 2nd September 2014

Wind energy development booming in Kenya

Kenya's wind energy capacity is considerable; the United Nations Environment Programme (UNEP) has estimated it could reach 3,000 Megawatts (MW), more than double the current national demand. Northern districts like Turkana and Marsabit have the greatest potential, and wind farm construction here is proceeding apace. A Dutch consortium, the Lake Turkana Wind Power Company (LTWC) has leased 70,000 hectares for construction of a 380 turbine.... Read more »

Posted on : Tuesday , 2nd September 2014

Kenya Power Customers to Get Loans to Fund New Connections

KENYA Power is working with various financial institutions to give loans that will assist people to pay for new connections. The firm's managing director Ben Chumo said it already has deals with locals banks such as National Bank, Jamii Bora bank, Equity bank and its own Stima loan for the connections. Chumo said the move will help the potential customers especially in rural areas to access affordable loans for new.... Read more »

Posted on : Tuesday , 2nd September 2014

Tanzania: Local Communities in Gas Producing Areas to Get Three Percent

ANNE ROBI AS the nation prepares to introduce a policy to guide the petroleum sub sector in the country, the government has said that three per cent of the revenues to be collected from the resource would be provided to the municipalities in which it would be explored to benefit local communities. Principal Geologist in the Ministry of Energy and Natural Resources, Mr Adam Zuberi made the revelation in Dar es Salaam on Friday.... Read more »

Posted on : Tuesday , 2nd September 2014

Tanzania: Tarime to Construct 20 School Laboratories

Tarime — TARIME District Council says it would successfully implement the directive by President Jakaya Kikwete to build laboratories in all public secondary schools within shortest possible time. The council plans to start building a total of 20 laboratories any time from now. Aim is to have all the laboratories ready by November, this year, according to the Tarime District Council Chairman, Mr Amos.... Read more »

Posted on : Tuesday , 2nd September 2014

Uganda Oil Levels Rise By 3 Billion Barrels

Kampala — Uganda's oil and gas resource deposits have risen from 3.5 billion barrels to 6.5 billion barrels writes BAZ WAISWA. The Commissioner for Petroleum Exploration and Production Department in the Ministry of Energy and Mineral Development, Ernest Rubondo, disclosed this last week. However he clarified there has been a very small increase in the amount of recoverable oil from 1.2 billion barrels (of the 3.5.... Read more »

Posted on : Tuesday , 2nd September 2014

Kenya:Tax capital gains only after discovery, says oil, gas industry

A Swedish investor wants to test Kisumu’s real estate appetite with Sh48-million villas. Fred Andersson, owner of Coromandele Investment Ltd is putting up 30 villas priced at Sh38.5million and Sh48.5million at Riat Hills, 3km from Kisumu International Airport.He said each unit would comprise four bedrooms all ensuite, walk-in in closet, expansive roof terrace with external Jacuzzi, two-room servant quarter and free flowing open plan.... Read more »

Posted on : Monday , 1st September 2014

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