Davies imposes steel tariffs with conditions

Trade and Industry Minister Rob Davies has come to the rescue of the beleaguered steel industry, approving a 10% ad valorem duty on certain imported steel products, which currently enter the country free of duty.   Stringent conditions:   His approval, however, is subject to certain stringent conditions - including that steel producers refrain from increasing prices for the products subject to the duty and that they honour their commitments to reduce prices on some.... Read more »

Posted on : Monday , 7th September 2015

African firms invest in new tech to intensify global competition

THE rapid growth of the mining industry, especially in Central Africa, is being mirrored in the market for mining explosives and chemicals across Sub-Saharan Africa. Almost 65 percent of major and minor mining firms in the region indicated that they would increase expenditure on explosives and chemicals in 2015, thereby stimulating a tepid market environment.   The mining industry has been propelled by relative political stability in previously volatile regions, such as the.... Read more »

Posted on : Monday , 7th September 2015

Steel coatings firm appoints sales agent in Europe, Middle East & Africa

Tesla NanoCoatings and Norwegian Drilling Group have launched a new class of corrosion protection coatings targeting the oil and shipping industries. Corrosion in these industries is a major maintenance issue that can severely hamper operations. Tesla NanoCoatings' products utilize carbon nanotechnology to prevent corrosion and extend the life of oil platforms and equipment as well as ships.   "We are very excited to partner with Norwegian Drilling Group to change the.... Read more »

Posted on : Monday , 7th September 2015

Uganda to restrict multinationals use of expats in oil sector

 Dozith Abeinomugisha, assistant commissioner in the petroleum directorate at the Ministry of Energy and Mineral Development, told the newspaper that, basically, international oil companies (IOCs) would be banned from bringing expatriates into the country to occupy positions that qualified Ugandans can do.   "We have coordinated with the Ministry of Internal Affairs to ensure that no expatriate will get a work permit unless he or she has a recommendation from the.... Read more »

Posted on : Saturday , 5th September 2015

Kibo says Tanzania power project will be competitive

 Dual-listed Kibo Mining expects its Mbeya coal-to-power (MCPP) project, in Tanzania, to produce electricity at “well below” national electricity tariffs. “Tanzania has varied electricity tariffs; it can be anything form $0.18/kWh to $0.35/kWh, but our project will come in well below the existing going rate,” CEO Louis Coetzee told Mining Weekly Online. He pointed out that Kibo was in negotiations with power utility Tanzania Electric Supply Company, as.... Read more »

Posted on : Saturday , 5th September 2015

EAST AFRICA STILL NICHE MARKET FOR GARMENT MAKERS

Though East Africa’s garment manufacturing potential is hindered by poor infrastructure and cumbersome Customs processes, exports are expected to grow as Kenya, Ethiopia, Tanzania and Uganda attract more investment.   According to consulting firm McKinsey, East Africa will remain a niche market for garment makers over the next decade but its success will depend on the existence of free trade agreements with the US and the European Union.   With $700 million in.... Read more »

Posted on : Saturday , 5th September 2015

KENYA TARGETS JAPANESE MARKETS

East Africa’s economic powerhouse Kenya is aiming to increase its influence in the Japanese markets, this is according to KenInvest’s Moses Ikiara.   Estimates suggest that trade between Kenya and Japan was above 1.5 billion US dollars in 2014. Experts lament trade imbalance between the two economies.   KenInvest’s managing director Moses Ikiara told CNBC Africa that the mooted direct flights between Japan and Kenya would see the volume of trade.... Read more »

Posted on : Saturday , 5th September 2015

DUBAI EXPORTS SHARPEN FOCUS ON FAST GROWING EAST AFRICA MARKETS

Dubai Exports, the export promotion agency of the Department of Economic Development in Dubai, is leading a trade mission to Kenya in a bid to further strengthen bilateral exchanges and connect more and more UAE businesses to the promising East African markets. The five-day mission will include conferences, business-to-business (B2B) meetings and site visits in the Kenyan cities of Nairobi and Mombasa.   Political stability and competitive human capital along with a strong.... Read more »

Posted on : Saturday , 5th September 2015

Germany commits 210 million USD to development in Tanzania

A German-Tanzanian development cooperation over the next three years will focus on strengthening the health system, improving water supply and sanitation, and protecting biodiversity and natural resources.   This is the outcome of bilateral negotiations on development cooperation between the Governments of Germany and Tanzania which were concluded on August 13, 2015 in Dar es Salaam. Germany committed 177 million USD for cooperation programmes to be implemented between 2015 and.... Read more »

Posted on : Saturday , 5th September 2015

Construction of Mombasa to Nairobi pipeline complete by 2016

The construction of the 20 inch Nairobi to Mombasa in Kenya oil pipeline will be completed by end of December 2016, officials have said. Permanent Secretary in the Ministry of Energy and Petroleum Joseph Njoroge told Xinhua in Nairobi that the 485 million U.S. dollar pipeline will reduce the cost transporting fuel from the port of Mombasa to Nairobi by almost half.   "Construction has already begun for the pipeline that will use modern technology to transport petroleum in.... Read more »

Posted on : Saturday , 5th September 2015

Plans for the construction of Kipevu oil terminal in Kenya on course

 The first designs for the  construction of the Kipevu oil terminal in Mombasa are on the final stages so as to pave way for the tendering process; this is according to the Kenya Ports Authority Managing Director, Gichiri Ndua.   The Kipevu oil terminal which is supposed to be relocated is being overseen by Danish consultancy firm Niras.   “We have engaged a consultant who is finalizing the construction designs in regard to the planned relocation of the.... Read more »

Posted on : Saturday , 5th September 2015

Gas-fired power generation could add US$12bn to Africa's GDP

 South Africa could tap into its natural gas reserves to expand its energy mix and support growth across the economy, recommended McKinsey Global Institute DualfreqGas-fired power plants could help make up for deficits in South Africa's power supply. (Image source: Dualfreq/WikimediaCommons) Gas-fired power generation alone could add US$12bn to South Africa’s GDP, estimated the McKinsey report titled South Africa’s Big Five: Bold Priorities for Inclusive Growth. The.... Read more »

Posted on : Saturday , 5th September 2015