Tanzania Signs USD 1.2 Billion Power Connection Deal With Zambia And Kenya

The Governments of Tanzania, Zambia and Kenya have signed a Memorandum of Understanding (MoU) to fund a USD 1.2 billion power inter-connector project that will connect the Eastern African Power Pool (EAPP) to the Southern African Power Pool (SAPP). tanzania-kenya-zambia-power-gridThe Zambia-Kenya-Tanzania (ZTK) power interconnector project is scheduled to be launched at the end of 2015 or in early 2016 and is expected to be completed by December 2018. According to the Tanzania.... Read more »

Posted on : Wednesday , 31st December 2014

Firm invests Sh2.2b into African factory

 African EPZ factory commenced operations last week. Located in Mtwapa, Kilifi County, the new factory will manufacture garments for the international market. Speaking during the official opening of the $25 million (Sh2.2b) factory, Industrialisation and Enterprise Development Cabinet Secretary Adan Mohamed, said the opening of the facility has already created 3,000 direct jobs with a potential to create another 4,000 jobs in its second phase of development. “Such.... Read more »

Posted on : Wednesday , 31st December 2014

Over 100 investors eye African Upcoming Project

 The ranch covering 1.78 million acres is located between Rivers Galana and Tana, which have adequate flow to supply water for irrigation. Agriculture Principal Secretary Sicily Kariuki said the project to ensure a million acres have been irrigated by 2017, has seen various investors express interest.  “Over 100 investors have expressed interest in writing since last year. Some of the investors are from Malaysia, Germany, India, and Israel. They will be shortlisted.... Read more »

Posted on : Wednesday , 31st December 2014

EAC explore trade opportunities with the Eurasian Economic Union

 According to the statement, this was one of the resolutions agreed on during a recent meeting between EAC ambassadors in the Russian Federation and representatives of the EEC that took place at the Kenyan Embassy in Moscow, Russia. Rwanda was represented by Amb Jeanne d’Arc Mujawamariya and first secretary, Francis Karagire. “The meeting was aimed at learning about the EEC integration process and development of the economic bloc with view of exploring business.... Read more »

Posted on : Wednesday , 31st December 2014

Western Corporation Limited exploring the East African Oil & Gas Industry

 Western Corporation limited signs up as a Platinum Sponsor at the 4th Oil & Gas Africa 2015 which will take place from the 27th – 29th April 2015,  at the Kenyatta International Conference Centre, Nairobi, Kenya. The expo is a hub for key players in the oil and gas community, attracting  leading oil, gas and petroleum companies from around the world. This regional trade event serves the resource-rich east African region and city of  Nairobi; Kenya's.... Read more »

Posted on : Wednesday , 31st December 2014

Gas Project Law Adopted by Mozambique Sets Benchmark, IMF Says

 A law adopted by Mozambique this week to provide long-term fiscal and legal stability for gas projects off its northern coast will be a benchmark for such agreements in other countries, said the International Monetary Fund.   The law applies to two projects in the Rovuma Basin, near the border with Tanzania, operated by Anadarko Petroleum Corp. (APC) and Eni SpA. (ENI) It sets terms covering 30 years, while allowing for the tax the companies pay on gas production to be.... Read more »

Posted on : Tuesday , 30th December 2014

Eland Oil & Gas - Crude Oil Sale Update

 Eland (AIM: ELA), an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company, has completed the loading and sale of a further 31,500 bbls gross of crude for an average price of $94.93 per barrel. This will be the Group's final loading and sale for 2014, with settlement due prior to year.... Read more »

Posted on : Tuesday , 30th December 2014

East Africa Sees Growth Accelerating on Investments

 Growth in Kenya, East Africa’s biggest economy, is expected to accelerate over the next three years as the government increases spending on roads, railways and power plants, the National Treasury said.   The economy may expand 6.1 percent in the fiscal year that ends on June 30, 2015, Geoffrey Mwau, economic affairs director at the Treasury, said today in a presentation in the capital, Nairobi. The rate is forecast to increase to 7 percent in 2015-16 and 7.3 percent.... Read more »

Posted on : Tuesday , 30th December 2014

Growth in the African Manufacturing Industry

 This sector is mainly agro based at the moment and plays an important role in adding value to agricultural output by providing forward and backward linkages with agricultural sector. However, there is a shift to export oriented manufacturing as the main thrust of Kenya's industrial policy since the country aims to raise the share of products in the regional market from 7% to 15 %..... Read more »

Posted on : Tuesday , 30th December 2014

Keroche pumps Sh4 billion into factory expansion and brand diversity

 Keroche Breweries has invested Sh4 billion to expand its Naivasha plant. Company chief executive Tabitha Karanja said the brewer will also be increasing its range of products. “Keroche is embracing advanced brewing technology to ensure Kenyans and the region get sufficient supply of high quality bear,” she said. Mrs Karanja spoke in Nakuru yesterday during a marketing tour. She said Keroche is putting up a modern plant which will double.... Read more »

Posted on : Tuesday , 30th December 2014

Swala Energy Receives Funding for Exploration in its East African Acreage

Swala Energy Limited has announced that Swala has received US $750,000 under the terms of the Convertible Note Facility pursuant to the Company’s ASX Announcement in mid December.   Under the terms of the Facility 750,000 Convertible Notes will be issued subsequent funding of up to US $750,000 per tranche is available at Swala’s request and may be drawn down every 40 calendar days under the Facility up to US$2,250,000.   The Company also confirms that it has.... Read more »

Posted on : Tuesday , 30th December 2014

East African Oil & Gas Market 2014-2024: Upstream & Midstream

 According to officials at Eco (Atlantic) Oil and Gas, the agreement would be deemed an “all-share” deal, which would save costs and strengthen itReport Details East Africa is fast becoming one of the world's most interesting oil and gas hotspots. For many years the area was neglected by the world's oil and gas industry, and even in Africa it was overshadowed by the rapid development in West Africa and the established markets in North Africa. However, with the.... Read more »

Posted on : Monday , 29th December 2014