U.S.$40 Million Fund to Turn Around Fortunes of Rwanda Mining Sector

 The Rwanda mining sector is set to benefit from a $40 million credit guarantee fund.   The fund is to stimulate lending to the mining sector by reassuring lenders that in the event of default, part of the fund will meet the loss incurred.   Mining is the second export revenue earner in Rwanda, employing about 30,000 people. However, investors in the sector complain about lack of credit which has stall investments in the sector resulting into low volumes of minerals.... Read more »

Posted on : Friday , 18th December 2015

Angola Strengthen Cooperation With China in Mining Sector

Luanda — The Angolan Minister of Geology and Mining, Francisco Queiroz, met Tuesday in Beijing with his Chinese Counterpart, Jiang Daming with whom he discussed issues linked to strengthening of cooperation between the two countries in Geology and Mining domain.   According to a press release from Angolan Embassy to China that reached Angop Tuesday, besides the meeting with his counterpart, the Angolan official met also with Director of Geologic Services, Hu.... Read more »

Posted on : Friday , 18th December 2015

Zambia: Govt Collects K10 Billion From Mines

Government's collection from the mining industry in 2014 increased to K9.92 billion from K8.2 billion the previous year, with Kansanshi Mining Plc contributing the largest percentage.   The increase of K1.72 billion represents about 21 per cent to Government's revenue.   This is according to the 7th Extractive Industries Transparency Initiative (EITI) report of 2014, which was launched in Lusaka on Tuesday, by Mines Minister Christopher Yaluma.   According to the.... Read more »

Posted on : Friday , 18th December 2015

BoI lends financial support to African manufacturing sector

 Bank of Industry (BoI) is allocating funds to deploy smart technology in manufacturing processes that can improve productivity and enhance growth factory pixabay pashminuBoI is keen to support manufacturing processes in becoming “smarter” and efficient.  BoI managing director Rasheed Olaoluwa has reaffirmed the organisation’s commitment to boost the manufacturing sector through its line of credit and sector-defined intervention fund. A sum of US$25mn.... Read more »

Posted on : Friday , 18th December 2015

Construction of first undersea museum in sub-Sahara Africa to begin in Kenya

 Plans to construct first underwater museum in sub-Sahara Africa is set to begin in Kenya, National Museums of Kenya (NMK) coast region assistant director for sites and monuments, Mr Athman Hussein Athman, has announced.   Athman was speaking during a workshop, sponsored by Unesco, the National Museums of Kenya and the Ministry of Sports, Culture and Arts in Mombasa.   The museum will be constructed at the site of a shipwreck at Ngomeni, a historical fishing village.... Read more »

Posted on : Friday , 18th December 2015

Probase Kenya to tarmac roads in Embu at a cost of US$ 38.5 Million

 The County government of Embu has signed contract with Probase Kenya a  Malaysian based construction firm to construct and tarmac roads across the county at a cost of US$ 38.8 Million.   Embu County governor Martin Wambora said that the county signed the contract after the court ruled that county governments should manage their roads.   “This deal is the best the county has entered into so far in terms of roads construction since it uses modern.... Read more »

Posted on : Friday , 18th December 2015

Ethiopia to Boost Business Ties With Jordan

Ethiopia and Jordan have agreed to raise the existing business relationships to the highest level.   Opening the first Ethio-Jordan Business Forum yesterday, Industry State Minister Tadesse Haile said: "Investors from Middle East are said to be a part and parcel of Ethiopia's economic growth for they have been contributing to the economy by trading, investing and technically collaborating with Ethiopia".   He went on saying that Ethiopia has a very diverse and.... Read more »

Posted on : Thursday , 17th December 2015

East Africa: ITC, EAC Launch New Project to Boost African Trade

The International Trade Centre (ITC) and the East African Community (EAC) today announced that the two organizations are launching a new, joint project to boost intra-African trade.   The Trade and Regional Integration Project (TRIP) for EAC was announced by EAC Secretary-General Dr Richard Sezibera and ITC Executive Director Arancha González on the margins of the World Trade Organization's Ministerial Conference taking place in Nairobi, Kenya from 15-18.... Read more »

Posted on : Thursday , 17th December 2015

Samzim Targets 50 Percent TV Market Share

Zimbabwe is targeting a 50 percent market share on television sets in the coming year. This comes after the company opened a television sets and refrigerators assembly plant in Zimbabwe at the Zimpost Complex along Airport Road in Harare. The initial investment on the project amounted to $10 million but there are plans to create an assembly plant for Samsung's other products.   "We have a five year investment plan, which we submitted to the ministry of finance which also.... Read more »

Posted on : Thursday , 17th December 2015

Mariental to Get 35MW Solar Power Station

THE Ministry of Mines and Energy has awarded a tender to construct a 35MW solar photovoltaic power station near Mariental to Alten Renewable Hardap, minister Obeth Kandjoze said this week.   Last year, the ministry issued a tender for the construction, operation and owning of solar PV power plants in the country.   "Following a competitive bidding process, an independent power producer consortium, Alten Renewable Hardap (comprising Alten Renewable Energy BV and.... Read more »

Posted on : Thursday , 17th December 2015

Kenya: Embu Signs Sh3.8 Billion Road Project Contract

The Embu government has signed a Sh3.8 billion contract with a Malaysian company to tarmack county roads.   Governor Martin Wambora yesterday said this is in line with a court ruling last Friday that county governments should manage their roads.   The Council of Governors sued the national government, demanding full control of county roads.   "Owing to the favourable ruling, I will not let the national government tender for construction of rural roads in my.... Read more »

Posted on : Thursday , 17th December 2015

Toshiba signs first MoU with TGDC for geothermal power generation

 Japanese multinational Toshiba Corporation has concluded an MoU with the Tanzania Geothermal Development Company Limited (TGDC) to develop geothermal power in the East African nation geothermal simon pixabayTanzania has vast reserves of untapped geothermal energy, which Toshiba hopes to capitalise on.  TDGC is the only organisation in Tanzania with geothermal exploitation rights, said Toshiba in a statement. The company’s business ranges from geothermal resource.... Read more »

Posted on : Thursday , 17th December 2015