Caterpillar expects tough 2015, restructuring anticipated

    World’s leading manufacturer of construction and mining equipment Caterpillar has said it expects a tough 2015 as a result of the modest improvement anticipated globally as well as the continued weakness in commodity prices—particularly oil, copper, coal and iron ore as to which the company depends on for its sales.   The company adds to undertake restructuring actions  that will cost the company about $150 million above the restructuring it has.... Read more »

Posted on : Wednesday , 28th January 2015

East African markets top in sub-Sahara Africa

 The sub-Saharan Africa market performance report, however, shows sub-Saharan Africa equity market performance was mixed, with Rwanda Securities Exchange declining by 4.5 per cent over the reporting period. The worst performers in local currency terms were Zimbabwe where the market lost 19.5 per cent and Nigeria which lost 16.1 per cent of its value in the year. In dollar terms, however, most markets had negative returns. Performers with positive returns were only Kenya,.... Read more »

Posted on : Tuesday , 27th January 2015

Developing & Structuring Industrial and Infrastructure Projects in Africa

 Developing industrial and infrastructure projects is not just a technical task, but involves a full range of elements to develop a sustainable business model. This business model takes into account ownership structure, communities, understanding requirements for funding, capacity, technology, financial models, environmental and market analysis, etc. Project developers, and their stakeholders, regularly find a heavier burden to bring all the necessary pieces together on small to.... Read more »

Posted on : Tuesday , 27th January 2015

Tanzania plans to revive tyre maker

The government has once again expressed its commitment to reviving the Arusha-based General Tyre East African Limited (GTEA) factory before the end of this year.   Janeth Mbene,  the  deputy Minister for Industry and Trade was last week here to brief on the government’s plans on reviving the tyre-making plant.   “As government, we are interested to see the factory resumes operation as soon as possible. But, I can confirm that the plant is to start.... Read more »

Posted on : Tuesday , 27th January 2015

Rise in royalties boosts state's mining revenue

Kenya's mining revenues stood at Sh600 million in the first half of the 2014/2015 financial year, boosted by royalties from increased mineral exploration, Cabinet secretary Najib Balala said yesterday.   "We are hopeful that the Sh1.2 billion target for the current year will be achieved by end of this financial year," Balala said.   According to the Economic Survey 2104, the total value of mineral output declined by 28.6 per cent from Sh27.6 billion in 2012 to.... Read more »

Posted on : Tuesday , 27th January 2015

Kenya among key emerging markets investment

The ranking takes note of the massive efforts being made in infrastructure development, the power sector and improving macro-economic stability.   Commenting on the standing, the Cabinet Secretary for Industrialisation and Enterprise Development Adan Mohamed said there is growing confidence by global investors in the country.   “The reducing cost of doing business and stable macro-economic environment continues to make a clear signal that Kenya is ready to do.... Read more »

Posted on : Tuesday , 27th January 2015

Barclays taps into growing Chinese investments in Kenya

The bank has singled out growing investments and opportunities for trade between Kenya and China as a key economic catalyst hence the need to tap into it.   Bank of China and Barclays Bank have already established a Chinese Business Unit, and also unveiled a number of propositions designed to provide financial services for the Chinese enterprise.   Speaking in Nairobi, during a dinner held to celebrate the Chinese New Year, Barclays Bank’s Managing Director, Jeremy.... Read more »

Posted on : Tuesday , 27th January 2015

TPDC: MTWARA GAS PIPELINE READY BY FEBRUARY

The Tanzania Petroleum Development Corporation (TPDC) has said the construction work of the natural gas pipeline will be completed by the end of this February. The completion of 542 km pipeline between Madimba –Mtwara and Dar es Salaam will save US $1 billion annually in heavy oil for electricity generation. Acting TPDC Managing Director James Andilile said the major construction works have been completed by 97 percent, and that the works include front end engineering design,.... Read more »

Posted on : Tuesday , 27th January 2015

EAC - 2015 global economic prospect report

The World Bank says in its 2015 global economic prospect report that several low-income countries, including those in East Africa, may graduate to middle-income status on the back of substantial oil and gas discoveries. “East Africa, in particular, has emerged as a “new frontier” for oil and gas in the past half-decade…newly discovered oil reserves in Uganda and Kenya have the potential of coming on-stream by the end of the decade,” notes the.... Read more »

Posted on : Tuesday , 27th January 2015

Italians win Uganda Solar Energy project

A Ugandan-Italian consortium Simba Telecom/Building Energy SPA and the consortium of Access/TSK Electronica of United Arab Emirates and Spain will invest $38million in two Solar Power Energy projects in Eastern Uganda.   The two consortium companies will generate 20MW of electricity, each generating 10MW in Soroti and Tororo districts in Eastern Uganda.   The United Arab Emirates and Spanish consortium of Access/TSK Electronica will invest $20million in their Soroti.... Read more »

Posted on : Tuesday , 27th January 2015

Top Gas Provider Is Back In Business

Nigeria has recommenced operations on its Trans Forcados oil pipeline, a senior oil official said on Monday. This will revive the generation part of the network which is paramount to almost half of the country’s gas production. David Ige, Executive Director of gas and power at Nigerian National Petroleum Corp, told Reuters that the pipeline, which had been shut for a week due to sabotage, resumed on Saturday afternoon. Bonny Light and Forcados are two of.... Read more »

Posted on : Tuesday , 27th January 2015

Tanzania reports bumper harvest

DAR ES SALAAM, Tanzania – The government has announced that last year the country had bumper harvest of food crops, in particular cereals, but is now struggling in procurement and storage of the surplus.    According to the Ministry of Agriculture, Food Security and Cooperatives, the country produced 16.02 million tonnes of cereals last year compared to 14.38 million tonnes in the preceding season reflecting an increase of 1.64 million tonnes.   In his New.... Read more »

Posted on : Tuesday , 27th January 2015