Market News Page No. 578| Africa Business News | Afrotrade

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Tanzania: WB Grant Pushes to Boost Agriculture

THE country's agriculture sector will get 60 million US dollars (about 100bn/-) in investment guarantees from World Bank's Multilateral Investment Guarantee Agency (MIGA) to boost growth and tame poverty. MIGA Vice-President and Chief Operating Officer, Michel Wormser said in Dar es Salaam on Thursday that the agency will partner with the United States government agency, Overseas Private Investment Corp to boost foreign direct.... Read more »

Posted on : Friday , 29th August 2014

Kenya: Let's Promote Coconut Production - President Kenyatta

Momabsa — President Uhuru Kenyatta has called for the formulation of policies that will unlock the country's potential in coconut farming. He said commercialization of the coconut sub sector - which is capable of contributing up to Kshs 25 billion annually - would boost the economy of the Coast region. "Time and again, research has shown that oil and nut crops have huge potential to contribute.... Read more »

Posted on : Friday , 29th August 2014

Tanzania: WB Grant Pushes to Boost Agriculture, Tame Poverty

THE country's agriculture sector will get 60 million US dollars (about 100bn/-) in investment guarantees from World Bank's Multilateral Investment Guarantee Agency (MIGA) to boost growth and tame poverty. MIGA Vice-President and Chief Operating Officer, Michel Wormser said in Dar es Salaam on Thursday that the agency will partner with the United States government agency, Overseas Private Investment Corp to boost foreign.... Read more »

Posted on : Friday , 29th August 2014

Oil & Gas Basin Opens in Kenya

Murmurs that Kenya is about to become a major petroleum province have now reached a dull roar. Africa Oil (AOI-TSX) announced it has made a major gas discovery (six million cubic feet per day) at the Sala-1 well on Block 9 onshore Kenya, significantly de-risking the "string of pearls" play along the margins of the Anza basin. "We are very excited about the opening of a new basin," stated Africa Oil chief executive.... Read more »

Posted on : Friday , 29th August 2014

TDPC to lay gas pipelines in Tanzanian city

Tanzania Petroleum Development Corporation (TDPC) has plans of laying gas pipelines along main roads in Dar es Salaam for the distribution of natural gas in the city Malik Munisi, public relations officer of TDPC, said that a joint venture between TDPC and private entities would enable the development of pipelines along the city’s main roads to nearby houses. This project is based on a pilot assignment undertaken at Mikochemi.... Read more »

Posted on : Thursday , 28th August 2014

UK oil firms keen to expand in East Africa

Based on a survey conducted by the Bank of Scotland, UK oil and gas companies are keen on expanding international operations with East Africa emerging as a prime area The survey was conducted across 100 UK-based oil and gas firms and the report stated that international income will amount to 44 per cent of the annual turnover of these firms. Of the 100 companies surveyed, 64 cited overseas expansion as their top priority. East.... Read more »

Posted on : Thursday , 28th August 2014

AFRICA COULD LEAD ENERGY STORAGE REVOLUTION

Africa has the potential to be a leader in the energy storage space, says Basil Read Energy director, Ian Curry. “We have to go for this distributed power generation solution, [while] accommodating storage. Storage is a technology and an industry that is coming into maturity and Africa has the opportunity to lead in that space because we’re starting from a relatively blank page.” There are many different views on the.... Read more »

Posted on : Thursday , 28th August 2014

Investment in Africa's Oil, Gas to Increase Through 2016

The Managing Director of baker Hughes Nigeria, Mr. Ayo Shote has predicted that investment in Africa's oil and gas business would increase beyond 2016. ‎Speaking at the company's Techno Day conference and Exhibition held recently in Lagos, Shote explained that these investments will continue to come into Africa because of huge potentials in Africa's oil and gas business. He identified key focus of this growth to include West.... Read more »

Posted on : Thursday , 28th August 2014

Kenya:Business News Kenya on track to boost geothermal energy generation

Kenya has invited bids for construction of two new geothermal plants as part of the country's plan to boost electricity production by 5000MW in three years. The new plants, with a capacity of 60MW, will be completed by the end of 2014 and is part of several projects designed to tap into Kenya 10,000 MW geothermal power potential, according to Oxford Business Group's most recent economic update on energy. According to a.... Read more »

Posted on : Thursday , 28th August 2014

Nairobi: Dar es Salaam set to join Africa's Super 10 cities

Rapid economic growth, coupled with discovery of large deposits of oil and gas, are likely to see both Nairobi and Dar es Salaam join the top 10 "super cities" of Africa by 2030, according to a new report. The report by United Kingdom-based international firm PricewaterhouseCoopers (PWC) also predicts that Dar es Salaam will become a bigger city than London by 2030. The London-based professional services network.... Read more »

Posted on : Thursday , 28th August 2014

Nigeria: Investment in Africa's Oil, Gas to Increase Through 2016, Says Baker Hughes

Ejiofor Alike The Managing Director of baker Hughes Nigeria, Mr. Ayo Shote has predicted that investment in Africa's oil and gas business would increase beyond 2016. ‎Speaking at the company's Techno Day conference and Exhibition held recently in Lagos, Shote explained that these investments will continue to come into Africa because of huge potentials in Africa's oil and gas business. He identified key focus of this.... Read more »

Posted on : Thursday , 28th August 2014

East African Explorers Seek Third �Partner For Kenya Oil Fields Development

East African explorers, Africa Oil and its partner Tullow Oil, have told Reuters they could take on a third partner to help develop oil discoveries in northern Kenya where they discovered an estimated 600 million barrel in Block 13 T and Block 10 BB in South Lokichar Basin. “We will likely bring on a partner to help develop Lokichar Basin reserves but no timetable has been set,” Africa Oil’s chief executive officer Keith.... Read more »

Posted on : Wednesday , 27th August 2014

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