Korean firm to build graphite plant

SOUTH Korean engineering firm, POSCO, may build and help arrange financing for a graphite project in Tanzania being developed by Magnis Resources, as the Australian explorer races to start production from the east African site by 2017. Demand for graphite is expected to soar as it is a major ingredient in lithium-ion batteries for hybrid vehicles and wind and solar energy storage, with appetite for greener transport and energy booming. Magnis, said yesterday it had signed a.... Read more »

Posted on : Thursday , 29th October 2015

Gold exports reach $3 billion per year

Sudan is one of Africa’s largest gold producers; and a vast resevoir of untapped resources provide further golden opportunities for investors in mining The secession of South Sudan has proven to be the catalyst Sudan needed to revitalize its economy, the country’s State Minister for Investment Osama Faisal Elsayed Ali states. Since 2011, the country has embarked on a bold strategy of diversification away from oil, and towards industries such as mining and.... Read more »

Posted on : Thursday , 29th October 2015

Improving Competitiveness of Manufacturing in Kenya

 World Bank reports released today underline the way to improving the competitiveness of key manufacturing sectors in Kenya. Analysis shows that the performance of the timber-furniture, textile-apparel, and leather and leather products value chains in Kenya are important for employment and growth in the country.   The reports provide an updated and comprehensive analysis of competitiveness for these manufacturing sectors in Kenya. They also suggest ways to accelerate.... Read more »

Posted on : Thursday , 29th October 2015

Norwegian firm Scatec begins plans to construct solar plants in Africa

 Norwegian firm Scatec has begun plans to construct 250MW capacity solar plants in Egypt aimed at boosting electricity production in the country.   The mega construction project is being carried out at two sites in Benban and Zafarana in Egypt as the first steps to the development of solar plants in the country.   Norway’s Scatec Solar has commenced activities on two sites in Egypt as it prepares the ground for the development of 250 MW of solar PV capacity.... Read more »

Posted on : Thursday , 29th October 2015

Kenya now banks on solar power to boost electricity supply

 Kenya now banks on solar power in a bid to meet its electricity demand. The country will now be focusing more on solar energy to boost its  5,000MW increase on the grid by 2016,the  Energy and Petroleum ministry has announced.   Speaking at a press briefing in Nairobi,Energy Principal Secretary, Mr. Joseph Njoroge said that his Ministry was working on several proposals from solar investors before inking any deal with Kenya Power.   “We have always.... Read more »

Posted on : Thursday , 29th October 2015

FISCAL REVISIONS MAY UNLOCK SUB-SAHARA AFRICA’S 48 BILLION BARRELS OF DISCOVERED OIL

Wood Mackenzie asserts that the oil price crash has accelerated the need for fiscal adjustments, as Sub Sahara African governments prepare to weather significant reductions in vital tax revenue. With no increase expected in production volumes, future revisions will need to strike the right risk and reward balance – incentivising investors to commercialise the continent’s vast untapped resource base. According to the analysis company the oil price decline has heightened.... Read more »

Posted on : Wednesday , 28th October 2015

Coffee prices rise on export demand

Tanzania’s average arabica coffee prices rose at the Moshi auction last week, buoyed by strong demand from exporters and higher New York markets, the Tanzania Coffee Board (TCB) said. Tanzania, which ranks behind Ethiopia, Uganda and Ivory Coast in terms of output on the continent, mainly produces arabica and a bit of robusta coffee. Prices of Tanzania’s arabica normally track the New York market while those of robusta take their cue from London. The average price for.... Read more »

Posted on : Wednesday , 28th October 2015

African Business in the World-Class Space

 Africa is a continent on the move. This Fall Frontier 100 Forum celebrates the dynamism and growing importance of African business — not only on the continent — but also in the global sphere. The rising influence of homegrown African businesses in the global economy reflects the changing realities on the ground. In 2014, Africa accounted for 9 of the world’s 15 fastest-growing economies. Some 26 of Africa’s 54 countries have achieved middle-income status.... Read more »

Posted on : Wednesday , 28th October 2015

Africa: Harnessing Foreign Direct Investment

 Dubbed the new investment frontier, Africa’s attractiveness is becoming more visible to large corporations, institutions and investors.   Reflecting this, foreign investment (FDI) flows have grown exponentially since the turn of the millennium. Countries such as South Africa, Nigeria, Kenya, Egypt and Morocco are leading the way.   High growth economies such as Zambia, Ghana, Tanzania and Mozambique are also becoming important investment destinations. In.... Read more »

Posted on : Wednesday , 28th October 2015

AFDB boosts electricity access in rural East Africa

 The African Development Bank Group (AfDB) has boosted electricity access in rural Uganda following the approval of  US$ 121m loan to finance the project.   According to AfDB, the funds are expected to help in the improvement of livelihoods, growth of the economy and allow access to social services in rural areas as public institutions get connected to the national grid.   AfDB allocated US$ 100m and mobilized US$ 21m grant from Sustainable Energy for All.... Read more »

Posted on : Wednesday , 28th October 2015

Despite Threats, Africa is Looking to Nuclear With Russia and Chinas Help

Many African countries are in the grip of a nuclear fad. They believe nuclear energy will bring with it an international currency of prestige. Countries with nuclear energy programs are seen as rich and technologically advanced and as a result possess advanced status compared to other developing countries. Nuclear is not new to Africa. It has been active since the 1950s when the Democratic Republic of Congo built Africa’s first nuclear reactor. But now, more African countries.... Read more »

Posted on : Tuesday , 27th October 2015

Tanzania: Black Rock Mining to Finalise Funding for Graphite Exploration

Black Rock Mining (ASX:BKT) has been granted a trading halt this morning, with its shares placed in pre-open. The company requested the halt pending the finalisation of funding for its exploration program, and to strengthen its balance sheet. Earlier in the month Black Rock hit its highest graphite grades yet at its Mahenge graphite project in Tanzania. The halt will remain in place until the opening of trade on Wednesday 28th October 2015, or earlier if an announcement is.... Read more »

Posted on : Tuesday , 27th October 2015