Latest African business news, economy, corporate, markets updates

US$350million oil pipeline in Kenya from Mombasa to Nairobi

Kenya Pipeline Company has secured a $350million loan to invest in the construction of a new 450-kilometre oil pipeline in Kenya from Mombasa to Nairobi.

The state owned oil dispenser will move ahead to a 20 inch contemporary multi-product oil pipeline in Kenya to reinstate the more than 30 year old – 14 inch pipeline currently in use.

For the duration of the signing of the loan with a group of six banks, KPC acting managing director Flora Okoth all.... Read more »

Posted on : Monday , 27th July 2015

Tanzania Stamigold Reaches USD 15 Million In Gold Exports In Its First Year

The announcement was done at an event headed by Stamigold General Manager, Eng. Dennis Sebugwao in Dar es Salaam, Tanzania’s c.... Read more »

Posted on : Saturday , 25th July 2015

Uganda car dealers peg prices to US dollar as shilling woes continue

Big car dealerships like CMC Motors, Toyota Uganda, Nissan, Spear Motors and Tata all peg their rates to the dollar.

Mark Kass, the CMC Motors chief executive officer, said this week the decision to quote car prices in dollars was influenced by the high depreciation rate of regional currencies.

“East Africa’s currencies are depreciating at around two and half per cent every 10 years. For this reason, all o.... Read more »

Posted on : Saturday , 25th July 2015

Honda Motor Company begins car manufacturing in Africa

Japan’s Honda Motor Company has begun manufacturing cars in Nigeria, said the new chief executive Takachiro Hachigo

According to Hachigo, a part of Honda’s motorcycle factory in Nigeria has been retooled to manufacture Accord Sedans. The company plans to make 1,000 cars annually and hopes to increase production if the local market is responsive to the new car.

The Japanese car maker is one among many other.... Read more »

Posted on : Saturday , 25th July 2015

Africa: Technology, innovation and infrastructure development

Continuous growth on the African continent has brought with it a growing need for infrastructure development to meet the requirements of the growing population.

With that said innovation in the construction industry is at the core of development on the continent.

Toby Shapshak, who will be a Keynote speaker at the African Construction and Totally Concrete Expo 2015, in his TED Global address in 2013 said, “Innovat.... Read more »

Posted on : Saturday , 25th July 2015

Tanzania Stamigold Reaches USD 15 Million In Gold Exports In Its First Year

Stamigold Company Limited, subsidiary of Tanzania’s State Mining Corporation (STAMICO), announced that it has sold in international markets 12,923 ounces of gold worth USD 15 million, as a result of its first year’s operations at Biharamulo Gold Mine Project located in Kagera Region, Northwest of Tanzania.
Tanzania-stamigoldThe announcement was done at an event headed by Stamigold General Manager, Eng. Dennis Sebugwao in Dar es Salaam, Tanzania’s commercial .... Read more »

Posted on : Saturday , 25th July 2015

Tanzania to ink local content gas policy

The government of Tanzania through its Ministry of Energy and Minerals has assured oil and gas stakeholders especially those engaged in Small and Medium Enterprises (SMEs) that the Local Content Policy (LCP) is in its final stages before being implemented.

Neema Lugangira Apson, a Senior Supplies Officer in the ministry responsible for Local Content (LC) said in Dar es Salaam last week that once the merging of the National Energy Policy 2015 (NEP) is completed, the m.... Read more »