Market News Page No. 577| Africa Business News | Afrotrade

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Wind energy development booming in Kenya

Kenya's wind energy capacity is considerable; the United Nations Environment Programme (UNEP) has estimated it could reach 3,000 Megawatts (MW), more than double the current national demand. Northern districts like Turkana and Marsabit have the greatest potential, and wind farm construction here is proceeding apace. A Dutch consortium, the Lake Turkana Wind Power Company (LTWC) has leased 70,000 hectares for construction of a 380 turbine.... Read more »

Posted on : Tuesday , 2nd September 2014

Kenya Power Customers to Get Loans to Fund New Connections

KENYA Power is working with various financial institutions to give loans that will assist people to pay for new connections. The firm's managing director Ben Chumo said it already has deals with locals banks such as National Bank, Jamii Bora bank, Equity bank and its own Stima loan for the connections. Chumo said the move will help the potential customers especially in rural areas to access affordable loans for new.... Read more »

Posted on : Tuesday , 2nd September 2014

Tanzania: Local Communities in Gas Producing Areas to Get Three Percent

ANNE ROBI AS the nation prepares to introduce a policy to guide the petroleum sub sector in the country, the government has said that three per cent of the revenues to be collected from the resource would be provided to the municipalities in which it would be explored to benefit local communities. Principal Geologist in the Ministry of Energy and Natural Resources, Mr Adam Zuberi made the revelation in Dar es Salaam on Friday.... Read more »

Posted on : Tuesday , 2nd September 2014

Tanzania: Tarime to Construct 20 School Laboratories

Tarime — TARIME District Council says it would successfully implement the directive by President Jakaya Kikwete to build laboratories in all public secondary schools within shortest possible time. The council plans to start building a total of 20 laboratories any time from now. Aim is to have all the laboratories ready by November, this year, according to the Tarime District Council Chairman, Mr Amos.... Read more »

Posted on : Tuesday , 2nd September 2014

Uganda Oil Levels Rise By 3 Billion Barrels

Kampala — Uganda's oil and gas resource deposits have risen from 3.5 billion barrels to 6.5 billion barrels writes BAZ WAISWA. The Commissioner for Petroleum Exploration and Production Department in the Ministry of Energy and Mineral Development, Ernest Rubondo, disclosed this last week. However he clarified there has been a very small increase in the amount of recoverable oil from 1.2 billion barrels (of the 3.5.... Read more »

Posted on : Tuesday , 2nd September 2014

Kenya:Tax capital gains only after discovery, says oil, gas industry

A Swedish investor wants to test Kisumu’s real estate appetite with Sh48-million villas. Fred Andersson, owner of Coromandele Investment Ltd is putting up 30 villas priced at Sh38.5million and Sh48.5million at Riat Hills, 3km from Kisumu International Airport.He said each unit would comprise four bedrooms all ensuite, walk-in in closet, expansive roof terrace with external Jacuzzi, two-room servant quarter and free flowing open plan.... Read more »

Posted on : Monday , 1st September 2014

Investor eyes Kisumu with Sh48m villas

A Swedish investor wants to test Kisumu’s real estate appetite with Sh48-million villas. Fred Andersson, owner of Coromandele Investment Ltd is putting up 30 villas priced at Sh38.5million and Sh48.5million at Riat Hills, 3km from Kisumu International Airport.He said each unit would comprise four bedrooms all ensuite, walk-in in closet, expansive roof terrace with external Jacuzzi, two-room servant quarter and free flowing open plan.... Read more »

Posted on : Monday , 1st September 2014

Oil explorer Afren seeks clearance ahead of Wajir drilling

London Stock Exchange-listed oil explorer Afren Plc has filed environmental disclosures ahead of drilling exploratory wells in Mandera and Wajir in the coming months. Afren’s drilling will be in Bur Wein area in El Wak, Mandera County and at Konton in Wajir County, both falling in Block-1 of the Mandera Basin.The company whose top officials were last week suspended over making illegal payments is looking to drill in the area at a.... Read more »

Posted on : Monday , 1st September 2014

Nairobi, Dar to float tender for power line

Kenya and Tanzania are to float a tender in September for the construction of a transmission line capable of transferring 2,400MW of electricity. The 400 kilovolt high voltage overhead transmission line is expected to cover about 510 kilometres from Isinya in southern Kenya to Singida in central Tanzania. The Kenya Electricity Transmission Company (Ketraco) acting chief manager of planning and construction, Anthony.... Read more »

Posted on : Monday , 1st September 2014

$600m highway to link Kenya, Tanzania

The East African Community is finalising plans for a transnational highway to link the Kenyan and Tanzanian coasts. The 460km highway, expected to cost $600 million, will start in Malindi, pass through Mombasa and Lunga Lunga on the Kenyan side, across to Tanga, then on through Pangani and Saadani to Bagamoyo in northeastern Tanzania. The road is hoped to increase regional trade by linking.... Read more »

Posted on : Monday , 1st September 2014

Uganda s crude oil reserves estimates nearly double in new adjustment

Uganda’s petroleum exploration and production department has put its estimated crude oil reserves at 6.5 billion barrels from the previous 3.5 billion barrels. The department is quoted by Wall Street Journal saying that the new figures follow the appraisal of oil blocks held by Tullow oil, Cnooc limted and Total S.A. “The increase in resources is an achievement given that with improved technology, the.... Read more »

Posted on : Saturday , 30th August 2014

Kenya: Migori Plan Sh40 Million Renovation Work At Stadium

MIGORI County Government have announced plans to renovate the county stadium at a cost of Sh40 million. According to Governor Zachary Okoth Obado, the stadium will be used to boost young talent and enable the county have the best team in the region. The renovated stadium will accommodate volleyball, rugby, athletics, football, basketball and indoor games. "We are committed to talent nurturing and this can only happen when we have a.... Read more »

Posted on : Friday , 29th August 2014

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