Market News Page No. 346| Africa Business News | Afrotrade

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Zimbabwe: Mining Co. Set to Increase Gold Production

Redwing mine, a subsidiary of South Africa-based Metallon Gold is set to increase gold production after resuming operations following a de-flooding exercise, management has revealed. Redwing mine stopped operations in 2008 after Zimbabwe Electricity Supply Authority (ZESA) cut power supplies over payment issues. The move contributed to massive flooding of shafts as the mine could not pump the water underground. General manager,.... Read more »

Posted on : Wednesday , 30th March 2016

Kenya: Corporation Signs Sh50 Billion Deals With Local Suppliers for Railway Construction

China Road and Bridge Corporation has since inception signed contracts worth Sh50 billion with local suppliers for the construction of the standard gauge railway. The deals have led to the creation of over 38,000 jobs, easing the government's unemployment burden. The firm, in its social responsibility report 2015 on the Sh400 billion Mombasa-Nairobi SGR project, revealed that agreements signed with local suppliers (project.... Read more »

Posted on : Wednesday , 30th March 2016

Rwanda: RCA to Construct New Cricket Ground

Rwanda Cricket Association (RCA) and the Ministry of Sports and Culture have partnered to construct a new cricket ground at the University of Rwanda- College of education (UR-CE), Rukara Campus in Kayonza district, Eastern Province. Speaking during the official groundbreaking ceremony at the college campus over the weekend, RCA president, Charles Haba said: "We shall sponsor the construction and already we have the funds for the.... Read more »

Posted on : Wednesday , 30th March 2016

Solar could power half of Kenya by 2016, according to experts

Kenyan government identifies nine viable sites for its proposed $1.2 billion investment in solar energy. The Kenya Renewable Energy Association – in collaboration with the Kenyan government and a number of private companies – has identified nine potential sites for the ambitious construction of solar power plants in the country. A pot of $1.2 billion has been made available to Kenya’s burgeoning solar power industry,.... Read more »

Posted on : Tuesday , 29th March 2016

Nigeria Govt. Earmarks N3 Trillion for Projects in 2016

Garba Shehu, the Senior Special Assistant to President Muhammadu Buhari on Media and Publicity, on Sunday said the Federal Government had set aside N3 trillion for projects in 2016. Mr. Shehu disclosed this while speaking with newsmen on the sidelines of a dinner held to celebrate the child dedication of Paul Ibe, the Head of the Atiku Media Office in Abuja. According to him, the government of President Buhari will make sure.... Read more »

Posted on : Tuesday , 29th March 2016

Govt. to Set Up Hotel Fund in Bid to Boost Tourism Revenue in Kenya

Kenya's Tourism Ministry plans to set up a hotel refurbishment fund as part of plans to boost tourism revenues. Efforts are also being intensified to attract more charter flights. Tourism Cabinet Secretary Najib Balala said the fund would enable investors to obtain credit more easily to give their facilities a face-lift. "There are many old hotels that can be upgraded to attract more tourists, but their owners cannot.... Read more »

Posted on : Tuesday , 29th March 2016

Nigeria: Construction of 550 Megawatts Power Plant to Begin in June

Handlers of the 550megawatts (mw) Independent Power Plant (IPP) in Ondo State said the construction activities will begin by June this year as the Nigerian Electricity Regulatory Commission (NERC) has issued a licence for it. The plant will be built and operated by the Ondo State Government and its partners, Kingline Development Company, a South Korean Company. Kingline Head of Nigeria Operations, Engr. Akinnola Fola who.... Read more »

Posted on : Tuesday , 29th March 2016

Nigeria: U.S.$44 Million Owerri Mall to Give Huge Boost to Retail Sector

The Nigerian retail sector is taking a big leap forward, with the unveiling of Owerri Mall in the Imo State capital - courtesy of a South African-based property developer - Resilient Africa. The property, located at Egbu Road, housing 45 trading outfits including Shoprite was commissioned last week by the Imo state Governor, Rochas Okorocha. The project was in partnership with Messrs Somachi Investment Limited, a company owned.... Read more »

Posted on : Tuesday , 29th March 2016

Nigeria: Cement Co. Begins N700 Million Concrete Road Construction

A subsidiary of Lafarge Africa Plc, and member of LafargeHolcim, Ashaka Cement Plc has flagged-off an eight kilometres concrete road construction in Maiganga, Gombe State. The Maiganga Concrete Road Construction project is one of such several projects Lafarge Africa Plc has embarked on in the past few months. Chairman, Board of Directors, Ashaka Cement Plc, Mallam Suleiman Yahyah, who welcomed the Executive Governor of Gombe.... Read more »

Posted on : Tuesday , 29th March 2016

Zimbabwe: Govt to Utilize Solar Geysers to Save 300MW

GOVERNMENT is pursuing initiatives to save up to 300 Mega Watts of electricity by 2018 through using solar water heaters in homes and public institutions, an official has said. At least 20 percent of electricity is consumed wastefully, especially in domestic households. Speaking at a stakeholder consultative workshop on the national solar water heating program, Energy and Power Development permanent secretary Patson Mbiriri said about 40 percent.... Read more »

Posted on : Saturday , 26th March 2016

Zimbabwe: Increased Gold Production Expected From Small-Scale Miners in 2016

Gold production for 2016 is forecast at 24 tonnes buoyed mainly expected increase from small scale miners. Small scale miners last year produced seven tonnes while big players produced 14 tonnes. The expected increase in production for small scale miners will be driven by $5 million worth of mining equipment expected from China by the end of May this year."Last year we went out on a mobilisation programme to small scale miners telling them.... Read more »

Posted on : Saturday , 26th March 2016

Nigeria: N6.06 Trillion Budget to Focus on Power, Housing, Transport

Abuja — This year's N6.06trillion budget as passed by the National Assembly (NASS) will pay strict attention to addressing perennial issues in power, housing and transport infrastructure, which got the lion's share of the capital votes. The total budget figure is, however, N17 billion less than the 6,077,680,000000 proposed on December 22, 2015 by President Muhammadu Buhari . A review of the sectoral allocations of the.... Read more »

Posted on : Saturday , 26th March 2016

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