Market News Page No. 549| Africa Business News | Afrotrade

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Egypt: Cabinet Decision Allows Renewable Energy Authority to Produce and Sell Electricity

Cairo — Egypt's cabinet amended on Wednesday the law governing the New and Renewable Energy Authority (NREA) to allow the authority to form companies to produce and sell electricity. The NREA works under the auspices of the ministry of electricity. It is concerned with carrying out projects for the production and use of renewable energy. As per the new amendment, the authority will now be capable of luring investors.... Read more »

Posted on : Thursday , 18th September 2014

Zimbabwe: Swiss Company Signs Solar Power Deal With Zinwa

SWISS energy and communications company Meeco Group, through its Zimbabwean subsidiary, Our Sun Energy, has signed a multi-million dollar deal with the Zimbabwe National Water Authority to provide solar power to the parastatal's existing water treatment facilities across the country. The deal is part of a Public-Private Partnership arrangement and will see the Swiss company eventually take over the designing, construction and.... Read more »

Posted on : Thursday , 18th September 2014

Total resumes $2.5bn Usan Deepwater oil block sale

France’s Total SA, Europe’s second largest oil company, has put one of its offshore Nigerian oil fields up for sale for the second time, the company said, after a 2012 deal with Sinopec Corp of China failed. Total has hired BNP Paribas to find buyers for its Usan deepwater oil field located in Oil Mining Lease (OML) 138, which could be worth about $2.5 billion, according to sources familiar with the matter. “We have.... Read more »

Posted on : Wednesday , 17th September 2014

FG targets 1m tonnes of cooking gas yearly

The Federal Government has said it plans to supply the local market up to one million metric tonnes, MT, of Liquefied Petroleum Gas, LPG/cooking gas yearly, to boost per capita consumption of the commodity in the country. Currently, the market is being supplied with about 250,000MT, up from the 150,000MT, when it began its intervention in the sector about a decade ago. The Head, Environment, the Department of Petroleum Resources, DPR,.... Read more »

Posted on : Wednesday , 17th September 2014

IPMAN seeks govt s intervention in kerosene, diesel supply

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Federal Government to intervene in the downstream sector of the petroleum industry to ensure adequate supply of Dual Purpose Kerosene (DPK) popularly called kerosene and Automotive Gas Oil (AGO) commonly called diesel, to avert scarcity. IPMAN’s Chairman, Mosimi depot, Comrade Dele Tajudeen, made the request during a meeting of the association at.... Read more »

Posted on : Wednesday , 17th September 2014

Competition seen in power sector as TEM begins November

The transitional electricity market (TEM), a stage that will ensure accountability and boost further investment in the Nigerian electricity market is expected to come on stream in November, BusinessDay has learnt. It was gathered that the Nigerian Electricity Regulatory Commission (NERC) had in a meeting on Wednesday considered the launch of the TEM in about two months’ time. TEM represents the intermediate step to move the.... Read more »

Posted on : Wednesday , 17th September 2014

Kaduna DISCO to commission 3 injection substations

Kaduna Electricity Distribution Company (KEDC) is to commission three new injection sub-stations at the Nigerian Air Force Base, Mothercat and Hanwa in Zaria, Kaduna State, to improve power supply in the state, KEDC Chief Executive Officer, Alhaji Idris Mohammed, has disclosed. Speaking in Kaduna yesterday when he hosted the leadership of the Correspondents Chapel of the Nigerian Union of Journalists, Kaduna State chapter, led by its.... Read more »

Posted on : Wednesday , 17th September 2014

Kenya Seed Introduces New Maize Variety Resistant to Striga Weed

The Kenya Seed Company has introduced new maize seed variety which is resistant to the maize lethal necrosis virus. Managing director Willy Bett said the company has also unveiled highland hybrid maize seeds and another maize seed variety, known as "Ua Kayongo" that is resistant to the striga weed common in western Kenya and North Rift. "We have developed a maize seed variety that is showing high resistance to the Maize Lethal.... Read more »

Posted on : Wednesday , 17th September 2014

Nigeria, Kenya Sign MoU On Agribusiness Development

THE Federal Government on Friday in Nairobi signed a Memorandum of Understanding (MoU) with the Kenyan government for the promotion of agribusiness between both countries. The Minister of Agriculture and Rural Development, Dr Akinwunmi Adesina, who spoke at the ceremony, said that seven out of the 10 fastest growing economies in the world were in Africa. Adesina said 65 per cent of the arable land that would provide "food for the.... Read more »

Posted on : Wednesday , 17th September 2014

Kenya: Report Recommends Revival of Cooperatives to Boost Dairy Farming in Kakamega

A task force has recommended the revival of cooperative societies and opening of new ones to spur dairy farming in Kakamega county. The task force on dairy farming wants Kakamega Dairy Cooperative Society converted into a limited liability company, owned by farmers and other stakeholders to streamline marketing of dairy products. The report says a vibrant cooperative movement will ensure strong collective bargaining and adoption of new.... Read more »

Posted on : Wednesday , 17th September 2014

Tanzania: Dar Port Infrastructure Set for Further Improvement

Goods containers piled up at Dar es Salaam port ready for forwarding to various destinations. The port is set to receive funds from a combined soft loan and grants from the World Bank and the UK's Department of International Development (DFID) for activities aimed at improving efficiency at the port. (File Photo) FINALLY funding for deepening, dredging and construction of berths 1 to 7 at Dar es Salaam port valued at over 800bn/- will be.... Read more »

Posted on : Wednesday , 17th September 2014

US$ 331m to be spent on road network expansion in Ethiopia

The Addis Ababa City Roads Authority (AACRA) has set aside US$331m for roads in the Addis Ababa city, Ethiopia. The city of Addis Ababa presently has a road network covering 4671km, which is expected to be increased to 5275km. The project seeks to add 600km of road to the city’s road network. The Akaki Kaliti-Tulu Dimtu road will also be expanded, and reconstruction of the Akaki Bridge as part of this project, will also take place..... Read more »

Posted on : Wednesday , 17th September 2014

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