Chase Bank and the French Development Agency have signed a US$ 10.8m loan to finance renewable energy projects in Kenya.
Chase Bank Chief Executive Paul Njaga confirmed the reports and said that the money will be lent to businesses that want to invest in renewable energy technologies projects such as small hydro, biomass, biogas, solar, geothermal and other energy efficient measures.
“This is a 12-year facility and will therefore address long term.... Read more »
Posted on : Friday , 6th November 2015
Safaricom's money transfer service M-pesa transacted Sh2.5 trillion in the last six months.
Posted on : Friday , 6th November 2015
Panasonic Corporation is betting on 12 of its new smart gadgets to drive its sales in the Middle East and Africa Region.
Posted on : Friday , 6th November 2015
Old Mutual [JSE:OML] on Wednesday posted strong third quarter results with gross sales up 31% to R172.53bn.
Posted on : Friday , 6th November 2015
Olam is one of the multinational companies involved in the production of rice in Nigeria.
Posted on : Friday , 6th November 2015
Kano — Lake Chad Research Institute (LCRI), Maiduguri has revealed that the Federal Government's Agricultural Transformation Agenda (ATA) initiative has launched a nationwide scaling-up programme for expanding the wheat area from 70,000 hectares to 350,000 which is set to produce over 1.5 million metric tons of wheat in 2017.
Posted on : Friday , 6th November 2015
Canada-based oil and gas issuer Octant Energy Corporation has completed acquisition deals with subsidiary companies of troubled British explorer Afren for three assets in Tanzania and Kenya, the Toronto listed junior said on Monday.
The gas property in the country is an offshore and onshore block in Tanga, which Afren acquired in March 2011 after buying a 74 per cent stake from Petrodel that still has a 26 per cent interest in the project.
.... Read more »
Posted on : Friday , 6th November 2015
Hyundai Motors abandoned the EA market a decade ago, but is now looking to return. The company’s Regional Marketing Director Sam Lee says that while “Hyundai has been absent from East African roads for over a decade”, they now “consider the region as a significant market and will be making strategic investments to make Hyundai cars the leading models in the region.”
Posted on : Friday , 6th November 2015
Production volumes to the new transnational pipeline in October to production facilities at Madimba, the Mtwara to Dar es Salaam pipeline and the Kinyerezi Gas Receiving Facility stood at 33 mmscf/day.
This is from three of the five existing gas wells at Mnazi Bay that have been successfully brought on-stream with the fourth well expected to be tied in during the month of November 2015 and the fifth well is expected to be tied in and ready to produce into the new pipe.... Read more »
Posted on : Friday , 6th November 2015
Block L6 operator Dubai based Milio International is in the process of planning for the seismic acquisition and is currently coordinating with local authorities according to JV partner Pancontinental Oil and Gas.
This is part of a farm-out agreement where Milio negotiated entry into the onshore area of block L6 in Kenya to earn a 60% interest in exchange for a 2D seismic programme of not less than 1,000km2, drilling and testing of an onshore well and additional costs su.... Read more »
Posted on : Friday , 6th November 2015
Nairobi-based Mobius Motors recently announced and started pre-selling its Mobius II model, which will offer drivers a highly robust vehicle capable of tackling Africa’s rough rural terrain and will, importantly, be the most affordable SUV on the market, selling for around US$11,000 (other new models usually sell for about US$23,000). It achieves this price by offering a simplified design, with non-essentials such as air-con, power-steering and even windows removed from .... Read more »
Posted on : Friday , 6th November 2015
Chinese firm Sinopec International Petroleum Service Corporation has offered to finance the construction of phase II of gas project in Ghana.
Posted on : Friday , 6th November 2015
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