Market News Page No. 527| Africa Business News | Afrotrade

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Ghana government backtracks on power utility privatization

Ghana has admitted that it is privatizing the country's power utility as part of conditions to access foreign funding, barely six months after it dismissed reports about the move. The government is holding a series of stakeholder meetings to consider concession or partial privatization of the Electricity Company of Ghana (ECG). "Government is considering concession or partial privatization of power utility, Electricity Company of.... Read more »

Posted on : Sunday , 21st December 2014

Rwanda: Small solar units to help expand electricity access

Rwanda is expanding the use of small solar units for remote households and schools to help meet a government target of increasing access to electricity to 70 percent of the nation by 2018 from just 22 percent now, officials said. The company, which produces small solar power systems aimed at low-income countries, is working to install 50,000 units in households and schools in the next four years in east Rwanda and with plans to extend its.... Read more »

Posted on : Sunday , 21st December 2014

Ethiopia plans to expand energy and industry with Eurobond funds

Ethiopia plans to expand industry, sugar factories and power production using proceeds from its oversubscribed debut Eurobond that raised $1 billion, the finance minister said on Tuesday. Ethiopia is the latest African state to receive a strong response on its first foray into the international debt markets. Investors have been eyeing Africa's sturdy growth rates and Ethiopia's economy is now expanding by about 9 percent a year. "This.... Read more »

Posted on : Sunday , 21st December 2014

Continental Subsidiary Receives Renewable Energy Grant

Continental Energy Corporation (OTCQB:CPPXF), the "Company", an emerging international energy investment company, today announced that its Tanzanian subsidiary, Ruaha River Power Company Ltd. ("Ruaha Power"), has been appointed manager of a US$ 95,000 grant from the Rural Energy Agency ("REA") of Tanzania. The grant is made under the Tanzania Energy Development Access ("TEDAP") program with.... Read more »

Posted on : Saturday , 20th December 2014

Well Results at Etame Field - Offshore Gabon

VAALCO Energy, Inc. (NYSE: EGY) today announced the completion of the Etame 8-H, the first development well drilled from the newly installed Etame platform, offshore Gabon. The Etame 8-H was drilled to a Measured Depth (MD) of 3196 meters and penetrated the Gamba Sand reservoir interval at 1820 meters True Vertical Depth (TVD), contacting 135 meters MD of high quality reservoir within the oil-bearing portion of the Gamba sand..... Read more »

Posted on : Saturday , 20th December 2014

PSC Commences N5 Billion Manufacturing Plant

As the price of crude oil plummets globally, Nigeria is in for a hard time because most of her revenues come from crude oil sale. Unfortunately, not only is the price decreasing but also sales as many of Nigeria's customers have now either discovered crude oil in their country or are more dependent on renewable energy. Nigeria, blessed with abundant sunlight and wind, has no excuse not to make the most of these resources to generate.... Read more »

Posted on : Saturday , 20th December 2014

Calls to Strengthen Investments and Trading Between African & Arab Countries

Minister of Fishing and Fishery Resources Sid Ahmed Ferroukhi called Monday in Algiers to strengthen the inter-Arab cooperation in the field of fishing and aquaculture as well as to develop trading and investments. Speaking on the occasion of the 5th Arab Congress on Investment and Exploitation of Fishery Resources and Food Security, the minister urged the Arab countries to concentrate their development policies on the rational.... Read more »

Posted on : Saturday , 20th December 2014

Africa: Over 400 Investment Projects to be Initiated

Angolan minister of Economy, Abahão Gourgel, Thursday in Luanda mentioned 403 investment projects of various sizes and various complexity in the Great Lakes region as having been identified in seven business sectors. Speaking at the Regional Consultation Conference on Private Investment Opportunities in Great Lakes Region, the minister said that the process follows the criteria that include the participation of at least two.... Read more »

Posted on : Saturday , 20th December 2014

Uganda s quest for more oil reaches Karamoja

Uganda’s discovered oil reserves are estimated at 6.5 billion shillings and it is believed that if the oil is well utilized, the money from the resource could lift the country from a developing nation to middle-income status. However the country’s quest for more oil continues and now the country is considering exploration in Karamoja. The Minister of State for Minerals Peter Lokeris told journalists in Kampala on Friday 5th.... Read more »

Posted on : Saturday , 20th December 2014

Tullow Oil Hands Over Kshs.18 million Water Project in Turkana, Kenya

Tullow Kenya has today handed over an Kshs.18 million water project to the residents of Kataboi in Turkana North consisting of a borehole, solar powered submersible pump and a 20,000 litre storage tank. The project is expected to benefit over 5,000 residents as well as provide water to nearby public institutions including the Kataboi health centre as well as Kataboi primary school and Kataboi girls’ secondary.... Read more »

Posted on : Friday , 19th December 2014

Tanzania: Solar Power Project a Success As 840 Villages Connected

THE PV Generator solar power project aimed at addressing electricity supply in rural areas has been a success as 840 households in Kongwa, Uyui and Mlele have benefitted. Project Coordinator from the Ministry of Energy and Minerals, Mr Styden Rwebangila, said in Dar es Salaam that the pilot power connection projects include fixing the generators, which use solar power and supply it to the households. He said the project, which is at the pilot.... Read more »

Posted on : Friday , 19th December 2014

9 marginal fields account for 12. 43 million barrels in 8 months

The Nigerian National Petroleum Corporation’s (NNPC) monthly petroleum information reveals that the nine marginal fields produced 12. 43 million barrels of crude oil in the first eight months of 2014 which is about 2 percent of Nigeria’s total industry output. The Petroleum Act defines a Marginal Field as “such fields as the President may from time to time identify as Marginal Fields”. This definition.... Read more »

Posted on : Friday , 19th December 2014

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