Market News Page No. 347| Africa Business News

East Africa: Focus On Regional Geothermal Development at Power Forum in Nairobi

The upcoming East African Power Industry Convention (EAPIC) in Nairobi, Kenya will focus on how the region can harness the opportunities presented by geothermal power to enhance access to energy, especially among rural communities. "There is no one-size-fits-all approach to developing geothermal. It's an amazing source of base load, renewable energy, but we have to take a realistic approach to how it's developed," said Amanda.... Read more »

Posted on : Tuesday , 5th July 2016

Tanzania: BRT Buses to Run on Natural Gas In Next Phase

Buses to ply in the next phases of the Dar es Salaam Rapid Transit (BRT) project will have their engines run using natural gas to save operational costs, the Tanzania Petroleum Development Corporation (TPDC) has revealed. "Plans were to use natural gas for buses currently operating in the first phase of the BRT but this was not possible due to some technicalities," a TPDC official, Mr Ismail Naleja, explained at the ongoing.... Read more »

Posted on : Tuesday , 5th July 2016

Future Looks Bright for Motorcycle Assembly in East Africa

East African countries are closer to an agreement that could boost motorcycle assembly in the region. The EAC Secretariat has appointed a team of experts from each member state to develop a proposal that will promote value addition and motorcycle assembly in the region. The experts will identify imported motorbike parts that can be excluded from taxation in order to lower the cost of production and encourage industrialisation.... Read more »

Posted on : Tuesday , 5th July 2016

Kenya Seeks $5.5 billion IFC Funding for Road Construction

Kenya is looking for close to Ksh550 billion ($5.5 billion) to complete the construction of 10,000 kilometres of roads, after local banks refused to lend the money to the contractors after the botched annuity financing model. The country is now negotiating for a line of credit of $1.5 billion from the International Finance Corporation (IFC), to finance part of the construction of 4,000 kilometres of urban roads; some 6,000 kilometres of.... Read more »

Posted on : Tuesday , 5th July 2016

Tanzania: Farming Sector to get Robust Insurance Strategy Boost

Dar es Salaam — Plans are underway to draw up an insurance strategy on agriculture in Tanzania. According to the Commissioner of Insurance, Mr Israel Kamuzora, a meeting of insurance stakeholders was recently conducted to discuss the strategy.It is hoped that by having the strategy, agriculture will be stimulated. Agriculture is Tanzania's economy mainstay, accounting for nearly 30 per cent of the gross domestic product..... Read more »

Posted on : Saturday , 2nd July 2016

Kenya: County Approves Sh170 Million for New Assembly & Governor's House

The County Assembly on Thursday approved Sh70 million for construction of a governor's residence in Likuyani Sub-County and another Sh100 million to build a modern County Assembly. These were among the highlights of Sh13.2 billion budget that gave Health, Infrastructure and Agriculture departments the three-highest allocations. Infrastructure development will consume Sh1.9 billion, health Sh1.2 billion and agriculture Sh575.9.... Read more »

Posted on : Saturday , 2nd July 2016

Kenya: AfDB Approves Sh13 Billion Loan to Link more Households to National Grid

About 300,000 households and businesses will be linked to the national grid after the African Development Bank (AfDB) approved a Sh13.5 billion loan for a low-cost connection project. The project targets homes not connected to electricity and which are within a 600-metre radius to a transformer. The loan, which was approved on Monday, is the second disbursement from AfDB under the Last Mile Connectivity project. The.... Read more »

Posted on : Thursday , 30th June 2016

Tanzania: All Villages in Zanzibar to Have Power By 2020 - Minister

Zanzibar — All villages in Zanzibar will have access to reliable electricity supply by 2020, Members of the House of Representatives were informed. Deputy Minister of Lands, Water, Energy and Environment, Juma Makungu Juma, said that the government has been working hard to ensure that houses in rural villages and inhabited small islands easily access power from the National Grid. "We are on track to have our goal.... Read more »

Posted on : Thursday , 30th June 2016

Tanzania: Billions of Dollars Worth Helium Deposit Discovered in Rift Valley

A vast field of helium has been discovered in a section of the Great Rift Valley in Tanzania, scientists are reporting. The scarce gas, which is used in high-tech devices such as MRI medical scanners and radiation monitors, is currently priced at about $70 per 1000 cubic feet. A team of British and Norwegian researchers estimate that the deposit they located in Tanzania could contain about 54 billion cubic feet of helium, which.... Read more »

Posted on : Thursday , 30th June 2016

East Africa: Kenya, Ethiopia Ink Crude Oil Pipeline Deal

Ethiopia signed an oil pipeline deal with Kenya on June 23, 2016, during an official visit by Prime Minister Hailemariam Desalegn to the neighbouring country. Kenya's President, Uhuru Kenyatta and the visiting PM signed the agreement to construct a crude pipeline from a coastal town Lamu, to Addis Abeba, Ethiopia. This project aims to integrate the efforts of the two countries as part of joint infrastructure regional projects under the.... Read more »

Posted on : Thursday , 30th June 2016

Tanzania: EU Conducts Energy Study in Zanzibar

Zanzibar — Zanzibar may possibly have its own energy source if an ongoing European Union study will succeed, the House was informed. Finance and Planning minister Dr Khalid Salum Mohamed and Energy minister Salama Aboud Talib said that research on possible alternative energy source has been going on in the isles. Zanzibar relies on power from the National Grid from Tanzania Mainland. The ongoing studies involve.... Read more »

Posted on : Wednesday , 29th June 2016

Tanzania: District Council Allocates Sh80 Million for Agriculture

Kilosa — Kilosa district council has allocated Sh80 million for the purchase of farm inputs for the coming agricultural season. Speaking to more than 200 farmers gathered at Mhenda village in the district, the Kilosa district commissioner, John Henjewele called on farmers to make good use of the research done by experts from Ilonga Agricultural Research Institute for the agriculture to be productive. "If you follow.... Read more »

Posted on : Wednesday , 29th June 2016