N e w s

China Firm Shows Interest in Tanzania Industry

 THE Aviation Industry Corporation of China (AVIC) has expressed its intention to cooperation with Air Tanzania Company Limited (ATCL) and restore the firm's lost glory. In May, this year, China's Prime Minister Li Keqiang, when delivering a speech at the African Union headquarter, said his government was keen to implement China-Africa regional aviation cooperation programme. He said the Beijing government would support Chinese.... Read more »

Posted on : Wednesday , 3rd December 2014

Feasibility study for Kenya-Uganda oil pipeline to take 5 months

 The Principal Secretary to the Energy and Petroleum Ministry Joseph Njoroge has said that feasibility study for the Kenya – Uganda oil pipeline will be expected by mid-April next year. The contract will be undertaken by Toyota Tsusho, a Japanese carmaker, which won the tender last month.   The pipeline will run from Lamu-Kenya to Hoima-Uganda, passing through the Lokichar basin. The company is also expected to come up with the.... Read more »

Posted on : Wednesday , 3rd December 2014

East Africa: EAC Endorses Investment Blueprint

 A proposed 10-year investment strategy for priority infrastructure projects in the East Africa Community to tackle the existing gaps received backing during the just-concluded EAC Heads of State Retreat on infrastructure development and financing. The summit, convened over the weekend in Nairobi, Kenya, endorsed the blueprint and directed the Council (of Ministers) to mobilise resources for implementation. Held under the theme,.... Read more »

Posted on : Wednesday , 3rd December 2014

Africa Set On Boosting Investments With China

 President Jacob Zuma has arrived in China where he is leading a delegation of ministers and businesspeople on a State visit aimed at strengthening bilateral relations, the Presidency said on Tuesday. The two-day visit, scheduled for Thursday and Friday, signals a further consolidation of South African-Sino relations. This is President Zuma's second State visit to China. In 2010, he took 17 Ministers and about 300 businesspeople and.... Read more »

Posted on : Wednesday , 3rd December 2014

Schlumberger reduces seismic fleet as deepwater exploration spending falls

 The world’s largest oilfield services company Schlumberger has announced it will be reducing its WesternGeco fleet as lower commodity prices lead to short-term cost cutting measures by exploration companies.   According to the company’s President of operations and integration Patrick Schorn Schlumberger will be restructuring WesternGeco marine seismic fleet by retiring older vessels with low towing capacity and high.... Read more »

Posted on : Wednesday , 3rd December 2014

Atlas Development secures first contract in Mozambique

African focused support services and Logistics Company Atlas Development & Support Services Limited has announced that, in line with its expansion strategy for East Africa, it has been awarded its first support services contract in Mozambique.   The agreement, with an international oil company, underlines Atlas Development’s increasing penetration into the oil & gas support services market and its growing reputation with.... Read more »

Posted on : Wednesday , 3rd December 2014

Swala Energy hints possible Farm-in in Eastern Africa

 Swala Energy has announced that it is in farm-in conversations in Eastern Africa as the company seeks ways of raising alternative funding transactions.   This follows the withdrawal of a share purchase plan by the company’s board as the company aims at raising $5 million to finance its drilling obligations ahead of the planned in 2015.   Swala which has already suspended its shares from trading since 24th November says.... Read more »

Posted on : Tuesday , 2nd December 2014

Boost to African Manufacturing Industries to Build Stronger Economy

 The Government wants the manufacturing industry to have a greater weight in the national economy, at a time the country needs to diversify its economy still heavily dependent on the oil sector. This was said Wednesday in Luanda by the minister of Industry, Bernarda Gonçalves. The minister was speaking at a press conference, saying that the National Development Programme and the Angola Industrialisation Programme make provision for.... Read more »

Posted on : Tuesday , 2nd December 2014

African Trade & development receive $320 million

 A variety of lenders are designated mandated lead arrangers including several African banks: Rand Merchant Bank, Bank du Caire and Nedbank. Admassu Tadesse, the PTA Bank President said, “We are grateful to our correspondent banking partners for their increased African appetite and their confidence in PTA Bank as it continues to grow, modernise and vigorously pursue our vision of being a world class specialised African financial.... Read more »

Posted on : Tuesday , 2nd December 2014

Inter African Investment to Boost Trade Ties

 ZIMBABWE and South Africa will soon sign a Memorandum of Understanding to strengthen trade and industrial relations, Industry and Commerce Minister Mike Bimha has said. "This framework is expected to further strengthen trade and industrial relations between our two countries. South African business people should take advantage of this framework to explore investment opportunities in Zimbabwe," Minister Bimha said. The Industry.... Read more »

Posted on : Tuesday , 2nd December 2014

The 2014 World Economic Forum on Africa

 The World Economic Forum on Africa (WEFA),  has come to a close after three days of deliberations; over 1,200 regional and global leaders from 80 countries worldwide attended the event. The forum, centered on the theme of “Forging Inclusive Growth, Creating Jobs,” saw the participation of Nigerian President Jonathan Goodluck, Prime Minister of the Ivory Coast Daniel Kablan Duncan, Chinese Premier Li Keqiang, as well as.... Read more »

Posted on : Monday , 1st December 2014

GE to Invest U.S. $2 Billion in Africa by 2018

 GE will invest $2 billion in facility development, skills training, and sustainability initiatives across Africa by 2018. GE made the announcement in advance of President Obama's U.S.-Africa Leaders Summit. Through partnerships and technology, GE is poised to help increase access, reliability, and affordability of core infrastructure throughout the continent.... Read more »

Posted on : Monday , 1st December 2014



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