Kenya to export oil earlier than planned by two years

 The government has brought forward the country’s oil production deadline by two years, a move that could see Kenya become a net exporter earlier than 2022.   President Uhuru Kenyatta yesterday said the government has “set a path” that will make the country become a key producer and exporter by 2019.   This includes expediting the construction of the 891-kilometre (heated) Lokichar–Lamu crude oil pipeline.   “We have started and.... Read more »

Posted on : Thursday , 25th August 2016

How business can drive energy access for all

 In the past decade, renewable energy growth has broken records year after year, and 2015 was a remarkable one for developing countries.   For the first time in history, according to the United Nations Environment Program, total investment in renewables exceeded that in developed economies, driven in part by national policies and the improving cost-competitiveness of renewable technologies. Investors, multinational energy players and renewable developers actively are.... Read more »

Posted on : Wednesday , 24th August 2016

Street lighting and road expansion turn Kisumu estate into business hub

The expansion of roads and street lighting has breathed new life into Kisumu’s Kondele estate.   As a result, more entrepreneurs have set up retail stores, shopping malls, bars, hotels, and gyms in the area.   Previously feared for insecurity, Kondele is fast turning into an attractive investment hub.   Kenya National Chamber of Commerce and Industry executive member Israel Agina said Kondele’s big population was attracting investors and making the.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Firm Injects U.S. $2 Million in Packaging Industry

Mwanza — MWANZA - BASED Falcon Packaging Ltd has injected two million US dollars in the packaging industry in a strategic drive geared to complement government-backed initiatives aimed at improving the performance of business and industrial sectors.   The investment is for production of well-designed packaging materials for domestic and industrial uses. "We have decided to come up with high quality packaging materials which can survive stiff competition in both.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Invest in Industries, Pension Funds Told

 Arusha — As Tanzania treads its path to industrialisation, social security funds have been urged to invest in industries.   The minister of State in the Prime Minister's Office (Policy, Parliament, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama, says industrialisation forms a fundamental linchpin to the fifth phase government's plans for the country's economic transformation   Ms Mhagama said this on Monday during a meeting with board.... Read more »

Posted on : Wednesday , 24th August 2016

Exponential Growth Projected in the Medical Tourism Industry

 In simple words, the term Medical tourism means the act of traveling to another country in search of better, affordable and sustainable medical treatment. This can be either because the treatment in question is unavailable in the home country, is expensive or illegal. While conventionally this kind of travel was from the less developed to high developed nations for medical treatment, the trend has in recent past taken a new twist with people traveling from high to less developed.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya Energy Sector: Sollatek Electronics Incentives Solar Entrepreneurs

 Sollatek Electronics latest project "Sollatek Direct: Solar Entrepreneurs in Kenya" has been selected by Energy and Environment Partnership (EEP) to received EUR 250.000 from the Ministry of Foreign Affairs of Finland, the Austrian Development Agency and the UK Department for International Development. The total project cost is over EUR 650.000, of which EEP has funded 40%, while Sollatek funds the remaining 60%. This project's objective is the successful training and.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzanian solar energy provider secures US$18mn

 Tanzania-based solar energy provider Off Grid Electric (OGE) has received a total funding of US$18mn for its operations in East Africa.   The financing is provided by two funds in a combination of equity and debt, with US$10mn coming from Helios Investment Partners, a pan-African investment firm, and US$8mn in debt financing from responsAbility, Swiss-based asset managers specialising in development-related sectors of emerging economies.   The revolving working.... Read more »

Posted on : Wednesday , 24th August 2016

Tanzania: Acacia Mining Profit Up As Gold Prices Rise

 Acacia Mining profit in the first half of 2016 have soared as gold prices and sales surged while operating costs fell.   The gold mining company, which operates three mines in Tanzania, said in a statement its earnings before interest, tax, depreciation and amortisation for the six months to June 30 rose 91 per cent to 184.9 million US dollars, helped by lower costs and higher gold sales.   The gold miner, said it was now expecting to deliver at or above the upper.... Read more »

Posted on : Wednesday , 24th August 2016

Kenya: Japanese Firm to Build Organic Waste Processing Plant in Meru

A Japanese company has started talks with the Meru County government to establish an organic waste processing plant in the county.   Meiwa, a company that converts organic waste into charcoal through biomass carbonisation technology intends to set up in Meru before moving to other parts of the country.   Speaking when he met Meru Governor Peter Munya on Monday, Meiwa International manager Takeo Tokunari said the technology provides solutions to agriculture, environment.... Read more »

Posted on : Wednesday , 24th August 2016

South Africa: Trade and Industry On Biggest Automotive Investment in Africa

The Coega Development Corporation signs a historic R11 billion investment with the Beijing Automobile International Corporation (BAIC), the biggest automotive investment in Africa in the last 40 years   The Coega Development Corporation (CDC), operator of the 11 500 hectares of the Coega Industrial Development Zone (IDZ), has successfully concluded a deal with BAIC of R11 billion for a completely knocked down (CKD) automotive manufacturing plant in the Coega Industrial.... Read more »

Posted on : Wednesday , 24th August 2016

South Africa: Platinum Producer Records Solid Performance

 OPERATIONAL flexibility and stability, underpinned by sound strategy enabled Royal Bafokeng Platinum deliver strong operational and financial performance for the first half of 2016.   Net revenue increased by 15,8 percent from R1,422 billion in the first half of 2015 to R1, 646 billion for the reporting period due to a 9 percent increase in the average rand basket price to R19 680 per platinum ounce in the first half of 2016, compared to R18 062 in 2015 and a 6 percent.... Read more »

Posted on : Wednesday , 24th August 2016