Market News Page No. 553| Africa Business News | Afrotrade

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N e w s

US$5bn given to Mozambique for infrastructure among other projects

Investment worth US$5bn was approved for three provinces in Mozambique. It was noted that the approved investments will help the North of Mozambique undertake several projects in agriculture, forestry, infrastructure, tourism, and hydrocarbon sector. The projects are aimed at creating opportunities for small, micro and medium-sized national companies. The projects are also expected to create 20,000 job opportunities in the three.... Read more »

Posted on : Thursday , 11th September 2014

Tanzania receives US$185m from MIGA for development projects

The private sector in Tanzania has a received a US$185m grant from the World Bank. The funds were released by the Multilateral Investment Guarantee Agency (MIGA). The aim of the funds is to help in projects in infrastructure, mining and energy sectors. MIGA Vice President and Chief Operating Officer, Michael Wormser said that MIGA is looking for ways to partner with government to ensure creation of jobs and improve infrastructure. The.... Read more »

Posted on : Thursday , 11th September 2014

US$ 110.54b secured for the Mombasa-Bujumbura highway

The African Development Bank (AfDB) has given Kenya a loan worth US$ 110.54b to construct Mombasa–Bujumbura highway that will link Kenya and Rwanda. Branching off the Northern Corridor at Voi, the Mombasa–Bujumbura highway will stretch 1550 kilometers. The road will also connect the Central Corridor to Tanzania at Moshi. It will also cross Arusha and Singida, on its way to Bujumbura. The highway will be shorter than.... Read more »

Posted on : Thursday , 11th September 2014

Rukwa coal mine confirmed as suitable power station fuel source

Preliminary economic and technical evaluations of mineral exploration and development company Kibo Mining’s Rukwa Coal to Power project, in Tanzania, have confirmed the Rukwa mine as a suitable fuel source for a 300 MW mine-mouth coal-fired power station. Kibo said on Tuesday that the indicative life-of-plant for the Rukwa power station required 28.8-million tons of coal over 20 years, which amounted to only 48% of the current.... Read more »

Posted on : Wednesday , 10th September 2014

Nigeria, 7 other African countries set for oil, gas boom

Nigeria and seven other African oil producing countries could experience boom in the coming years, with Mozambique and Tanzania set to emerge as new frontiers, if they can attract enough investment, a report by PriceWaterhouseCoopers has stated. The report also stated that six of the top 10 global discoveries in 2013 were made in Africa, with more than 500 companies now exploring across to the continent. Large gas finds in Mozambique and.... Read more »

Posted on : Wednesday , 10th September 2014

Orrick advises Maurel & Prom on renewal of Gabon licenses and renegotiation of PSA

Orrick Rambaud Martel has advised Établissements Maurel & Prom, one of France’s largest oil companies, on the renewal of its seven exclusive exploitation and development licenses in Gabon covering 6,100 km and on the renegotiation of the related production sharing contract with the Government. The Gabonese State and Maurel & Prom S.A., the Gabonese subsidiary of the French oil & gas exploration company listed on.... Read more »

Posted on : Wednesday , 10th September 2014

Ghana Gas ready as final test proves successful

The Ghana National Gas Company (Ghana Gas) has expressed satisfaction with work on the Atuabo Gas Plant as a test run on the plant proved successful. A series of tests was carried out over the weekend on the 111-kilometre Onshore pipelines from Atuabo in the Ellembelle district to Aboadze in the Shama district. The test formed part of the process to check the integrity of the pipeline and to identify and correct potential leakages along.... Read more »

Posted on : Wednesday , 10th September 2014

Zimbabwe: Power Generation Improves - Murerwa

Daily power generation in Zimbabwe has improved from an average of 1 200 MW to 1 400 MW following refurbishment of power stations, an official has said. Zimbabwe is currently facing power shortages as national demand at peak periods is estimated at 2 200 MW. Demand far outweighs present generation capacity resulting in the shortfall being imported from regional power utilities. Zesa Holdings board chairperson Dr.... Read more »

Posted on : Wednesday , 10th September 2014

Africa Can Become Important Power Production Source - Official

Luanda — Africa is one of the regions of the world with major unexplored energetic reserves, which expands its chances to become one of the main energy producers. This was said Tuesday in Luanda by the CEO of the National Electricity Company (ENE), José Carlos, while addressing the opening of the 18th Congress of the African Electricity Companies. Jose Carlos said the challenges facing the continent in the.... Read more »

Posted on : Wednesday , 10th September 2014

Afrox Secures $13.7m Exxaro Contract For Nitrogen Supply

JSE-listed gas and welding firm, African Oxygen (Afrox), on Thursday said it had signed a five-year R147 million ($13.7 million) contract with Exxaro FerroAlloys, a unit of the JSE-listed mining resources firm, Exxaro. In terms of the deal, Afrox will supply nitrogen to Exxaro FerroAlloys’ factory in West Pretoria, South Africa. Afrox will also be injecting money in promoting its distribution pipeline to meet the demand from the.... Read more »

Posted on : Tuesday , 9th September 2014

StarTimes Battle For Kenya s PayTv Market With Satellite TV Launch

Chinese-owned company StarTimes Media has stepped up its operation in Kenya, with the launch of a satellite TV service that would see it compete with DSTv and Zuku. “We believe that we have a very strong product that will appeal to most viewers, said Mark Lisboa Vice President of StarTimes at the launch. This is he said was because the bouquets on its StarTv are priced competitively compared to its competitors. The pay.... Read more »

Posted on : Tuesday , 9th September 2014

Brazilian Firm To Build 700 Megawatt Plant In Nigeria

Nigeria has reached an agreement with Brazilian firm, Benco Energy limited, for the construction of a 700MW combined cycle power generating plant in Bayelsa state, Southern Nigeria. The Nigerian Minister of Power, Prof Chinedu Nebo explained, at the signing of the Memorandum of Understanding (MoU), that the plant was part of an earlier agreement with Brazil which afforded interested Brazilian power firms an opportunity to invest in.... Read more »

Posted on : Tuesday , 9th September 2014

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