N e w s

Tanzania: Acacia Mining Swings to the Red in Third Quarter

Tanzania's largest gold miner announced it posted net loss in the third quarter compared with the same period a year ago due to lower output and higher costs.   The gold mining company reported in its financial statement that it made a reported net loss of 13 million US dollars in the three months to September 30 compared with net profit of 28 million US dollars in the same quarter a year before.   The loss reflected 20 per cent.... Read more »

Posted on : Saturday , 24th October 2015

Angola: Mining Centres Crucial for Industrialisation - Specialist

Luanda — The creation of the mining development centres as one of Government's options to diversify the economy, represents a basis for the industrialisation of the country.   This was said by specialist José Cerqueira during an interview on the State-run daily paper "Jornal de Angola" published in its Thursday's edition.   José Cerqueira stressed the importance of the mining centres saying that in the.... Read more »

Posted on : Saturday , 24th October 2015

Sudan keen for Indian investment in agriculture, gold mining

Agriculture, gold mining and petroleum are prime areas where Sudan wants India to invest in the coming years, Sudan's Ambassador to India Hassan E. El Talib said on Friday. "India-Africa relations have been historic. Over the years, Sudan has emerged as a major producer of gold. We want India to invest more in gold mining, apart from other areas such as agriculture and infrastructure, through which India-Sudan relations can reach new.... Read more »

Posted on : Saturday , 24th October 2015

Rwanda: Government Streamlines Mining Licence Process

Kenya's Java House has 36 coffee houses and restaurants and plans to open outlets across Africa in the next five years to capitalise on rising consumer spending, its chief executive said. Kevin Ashley, who founded Java's first outlet in Nairobi in 1999, said the company would open in Kigali, Dar es Salaam, Lagos, Accra and Lusaka. For now, the firm's only outlets beyond Kenya are in Uganda's capital Kampala. "We see in five years time.... Read more »

Posted on : Saturday , 24th October 2015

Kenyan coffee chain Java House targets Africa expansion

Kenya's Java House has 36 coffee houses and restaurants and plans to open outlets across Africa in the next five years to capitalise on rising consumer spending, its chief executive said. Kevin Ashley, who founded Java's first outlet in Nairobi in 1999, said the company would open in Kigali, Dar es Salaam, Lagos, Accra and Lusaka. For now, the firm's only outlets beyond Kenya are in Uganda's capital Kampala. "We see in five years time.... Read more »

Posted on : Saturday , 24th October 2015

Rapid Expansion of the Automotive Sector in Kenya

 Kenya, the economic, commercial, and logistical hub of the entire East African region and the most developed economy in Eastern Africa, is growing rapidly. The economy grew by 5.3% in the year 2012 and is projected to reach 10% growth by 2017 as the government takes steps to enhance Kenya’s economic competitiveness. The Automotive industry in Kenya is primarily involved in the retail and distribution of motor vehicles.   There.... Read more »

Posted on : Saturday , 24th October 2015

Railway investments in Egypt Set to hit US$11Billion by 2030

Railway investments in Egypt are set to hit US$11 Billion by 2030 chairman of Egypt’s National Railway Authority Ahmed Hamid  has announced. He noted enormous growth of the railway system in the country. He added that the general investment plan of the authority is represented in three axes: the most important one is the urgent plan, with an estimated value of EGP7.17bn, followed by the medium plan estimated at roughly EGP14.413bn.... Read more »

Posted on : Saturday , 24th October 2015

BASF Construction launches concrete admixtures production plant in Africa

 Germany based construction product manufacturer  BASF Construction Chemicals has launched its new concrete admixtures production plant in Nigeria.   The plant is expected to respond to the ever growing demand for concrete admixtures products.   Speaking during a press briefing, Nair Narayanan who is the country Manager for BASF Construction Chemicals, Chemicals said that the construction of concrete admixtures production.... Read more »

Posted on : Saturday , 24th October 2015

Getting set for construction of Nuclear Power Plants in Africa

 Preparation for construction of  Nuclear Power Plants in South Africa has begun in earnest after the department of energy received US $14.80m from the National Treasury for feasibility study putting into consideration the cost, benefits and risks involved.   This allocation comes a year after South Africa faith communities’ Environment Institute (SAFCEI) marked its first anniversary of protest against nuclear plans due to.... Read more »

Posted on : Saturday , 24th October 2015

TANZANIA FARM-OUT ENABLES SWALA ENERGY REPAY LOAN ACQUIRED IN DECEMBER

Swala Energy Limited has said it has agreed with Magna Equities II LLC the provider of an interim financing mechanism entered into by way of provision of Convertible Notes in December 2014. Under the agreement Swala Energy says it shall undertake to redeem all of the outstanding 452,381 Convertible Notes currently held by Magna at a cost of US $598,500. According to the Australian explorer’s CEO Dr. David Mestres Ridge the Company.... Read more »

Posted on : Friday , 23rd October 2015

Uganda: NSSF Reveals Plan to Invest in Infrastructure, Awards Firms

Kampala — National Social Security Fund (NSSF) will invest in public infrastructure and small and medium enterprises, managing director Richard Byarugaba has revealed.   Speaking at the annual members meeting in Kampala yesterday, Mr Byarugaba told members that the development is included in a 10-year strategic plan to diversify the savings in the fund.   Currently at Shs5.8 trillion worth of investments, the fund wants to.... Read more »

Posted on : Friday , 23rd October 2015

Gulu Hospital to get cancer institute

The fully fledged institute will be located on the land where the Central Police Station is currently situated.   Dr. Nathan Onyach the Gulu Regional Referral Hospital Director told Radio Rupiny that by early next year the police station will have been relocated near Gulu Main Prison to pave way for the cancer institute’s construction.   Francis Okongo the cancer registrar at St. Mary’s Lacor Hospital says in 2013-14,.... Read more »

Posted on : Friday , 23rd October 2015



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