Market News Page No. 317| Africa Business News | Afrotrade

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Uganda: UETCL to Build $100 Million Power Sub-Stations with Chinese Aid

Kampala — A Chinese construction firm has embarked on the construction of the four mega sub-stations at Luzira, Namanve, Mukono, and Iganga industrial parks. Mr Mark Namungo, the senior power analyst at the Uganda Electricity Transmission Company Limited (UETCL), said the project is expected to cost$100m (Shs337b) which was borrowed from the Chinese Exim Bank. "... us being the government implementers of this.... Read more »

Posted on : Tuesday , 7th June 2016

Tanzania: Industrial Sector Set to Get Investment from Pension Funds

As the temperature to industrialise in the country heats up, social security funds are seeing themselves in a position to invest in development of industries as their risks have been mitigated by existing guidelines. The Social Security Regulatory Authority (SSRA) Director General, Ms Irene Isaka, said in a statement that with the existing investment guidelines, investments in the industries can be in the form of loans, equities,.... Read more »

Posted on : Tuesday , 7th June 2016

Tanzania: President Invites Chinese Investors to Boost Infrastructure, Industrial Development

President John Magufuli has invited investors from Jiangsu Province in China to partner with Tanzanians in setting up industries and building the infrastructure, particularly the standard gauge railway line. In line with the invitation, Dr Magufuli has assured Chinese investors of maximum cooperation from his government. According to a statement issued in Dar es Salaam yesterday by the Directorate of Presidential Communications Unit,.... Read more »

Posted on : Tuesday , 7th June 2016

Kenya Power, Kipeto Sign 100MW Power Purchase Deal

UTHOR: By MARGARET NJUGUNAH, NAIROBI, Kenya, Jun 2 - In a move that will see Kenya's wind power increased from the current 787 Megawatts, Kenya Power and Kipeto Energy Limited have signed a 20 year power purchase deal which will see Kipeto deliver 100 Megawatts of power to the country's power grid. The wind project will be put up at a cost of Sh32.26 billion and will be funded by the US government's Overseas Private Investment.... Read more »

Posted on : Saturday , 4th June 2016

EU Pledges Additional Support for Power Projects in East Africa

The current vigour the 5thgovernment is exhibiting is key to achieving Sustainable Development Goal number 7, access to affordable, reliable, sustainable and modern energy for all, the Head of delegation of the European Union to Tanzania and East Africa region has said. Speaking yesterday when launching a new booklet titled 'Empowering Tanzania: Energy for Growth and Sustainable Development', Head of EU delegation Ambassador Roeland Van.... Read more »

Posted on : Saturday , 4th June 2016

Tanzania Appointed Chair of African Minerals Council

Tanzania has been elected chair of the Governing Council of African Minerals and Geosciences Centre (AMGC). The appointment was made over the council's 36th annual meeting in Addis Ababa. Tanzania was represented by the Permanent Representative to the United Nations Economic Commission for Africa (Uneca) and its ambassador to Ethiopia, Ms Naimi Hamza Aziz, who attended the meeting on behalf of the Minister for Energy and Minerals, Prof.... Read more »

Posted on : Saturday , 4th June 2016

Tanzania: Kiwira Coal Mine Expansion To Start Next Year

Dodoma — Construction of a coal to electricity project at Kiwira coal mine will start next year, according to the deputy minister for Energy and Minerals, Mr Medard Kalemani informed Parliament today. He noted that the State Mining Corporation, Stamico, will spend a total of $500 million to develop the project. Preparatory work for the development of the project was in advanced stage. "In 2015/16 Stamico was.... Read more »

Posted on : Saturday , 4th June 2016

Tanzania: China To Finance USD 40 Million State-of-the-Art Library at UDSM

The University of Dar es Salaam (UDSM) is undergoing mega-infrastructural transformations that include construction of state-of-the-art modern library to accommodate over 800,000 books to be more globally competitive. Doubling as a public library and resource centre, the library will have the capacity to host 6,000 people, a conference room and Confucius Centre that can accommodate 2,100 and 500 people respectively. The project is.... Read more »

Posted on : Saturday , 4th June 2016

Uganda: France Pledges Shs667 Billion for Expressway Project

Kampala — The French government, through its public bank and overseas development agency, Agence Française de Développement (AFD), has said it will commit €180m (Shs667b) to the development of the proposed Kampala-Jinja Expressway next year. The loan was revealed by Ms Virgnie Leroy, the AFD's country representative, on Wednesday during a meeting with journalists in Kampala to highlight their projects in.... Read more »

Posted on : Saturday , 4th June 2016

Kenya : Sh17 Billion Nairobi Western Bypass Construction Begins

The government has announced the start of construction works for the Nairobi Western Bypass aimed at reducing traffic congestion in the Capital. The Kenya National Highways Authority (Kenha) said Thursday it has signed an agreement with the China Road and Bridge Corporation (CRBC) to carry out feasibility studies and designs for the development of the bypass as a high capacity expressway, paving way for its.... Read more »

Posted on : Friday , 3rd June 2016

Tanzania: President Wants Industries To Boost Economy

President John Magufuli wants the manufacturing sector to control a lion's share of workable population and contribution to the economy in the next four years. He said in Dar es Salaam yesterday that his government is rallying behind the manufacturing sector and want its share of employment to the society to reach 40 per cent from current 7.3 per cent - while its contribution to GDP reaching 15 per cent by 2020. "We (at.... Read more »

Posted on : Thursday , 2nd June 2016

Africa To Get U.S.$12 Billion Energy Package From AFDB

Lusaka — Africa was presented with its largest energy deal ever - a $12 billion package from the Africa Development Bank - as some leaders fought off pressure from environmentalists concerned about the threat of an impending construction boom of power dams, reiterating their position that the continent was simply tired of being in the dark. Under the new deal, which was announced during the ADB's annual meeting in Lusaka last.... Read more »

Posted on : Thursday , 2nd June 2016

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