Manufactures Line Up New Investments in East Africa

 Savannah Cement, one of the country's newest market entrants, is set to build two new plants as it nears exhaustion of its current capacity, managing director Ronald Ndegwa said. He said the cement maker will invest between $250 million (Sh22.31 billion) and $350 billion (Sh31.23 billion) for a clinker plant and a second mill to support its existing operations.   "We see ourselves running out of headroom in two to three years at our current mill, hence the new.... Read more »

Posted on : Monday , 22nd December 2014

Indian trade mission aimed to generate millions in new business with Africa

 The Federation of Gujarat Industries (FGI) hopes that its recent nine-day trade mission to South Africa will, on its own, generate at least $10-million in bilateral trade. So stated FGI senior VP and mission head Janak Seth at a trade briefing in Sandton (north Johannesburg) during the visit. Gujarat is a coastal state in north-west India.   While 5% of India’s population live in the state, it is responsible for 17% of the country’s gross domestic product.... Read more »

Posted on : Monday , 22nd December 2014

Africa: World Wood Production Up for Fourth Year - Paper Stagnant As Electronic Publishing Grows - UN Report

Continuing steady growth in 2013 for the fourth consecutive year, global wood production has fully recovered from the economic downturn of 2008-2009, though production of pulp and paper stagnated largely due to a decline in consumption in China, data released by the United Nations' Food and Agricultural Agency (FAO) revealed today. FAO also reported that after 38 years of uninterrupted growth, production of paper and consumption of pulp and wastepaper - the two main products used.... Read more »

Posted on : Monday , 22nd December 2014

Kenya: Finally, Konza City Gets a Road Through It

Nairobi — Deputy President William Ruto was on Monday to commission Konza Road that will open up the proposed Konza technopolis to infrastructural investment.   The accessible road is part of a raft of ongoing infrastructural efforts geared at laying a foundation for the commencement of construction of Phase 1 of the Techno City.   Following contract signing with American firm Terra Tech for development of a smart city, provision of power by Kenya Power, approval.... Read more »

Posted on : Monday , 22nd December 2014

DFID and Turkana County government agree on landmark development project

DFID-Kenya committed to Turkana County Government to support engagement of communities, with oil companies and NGOs, for local development of areas The UK's Department for International Development (DFID-Kenya) committed to Turkana County Government to support engagement of communities, with oil companies and NGOs, for local development of areas affected by oil explorations. Speaking during the signing of the framework, Head of DFID Kenya, Ms Lisa Phillips said: The UK is excited.... Read more »

Posted on : Sunday , 21st December 2014

Ghana government backtracks on power utility privatization

 Ghana has admitted that it is privatizing the country's power utility as part of conditions to access foreign funding, barely six months after it dismissed reports about the move. The government is holding a series of stakeholder meetings to consider concession or partial privatization of the Electricity Company of Ghana (ECG). "Government is considering concession or partial privatization of power utility, Electricity Company of Ghana," Frank Ocran, Stakeholders.... Read more »

Posted on : Sunday , 21st December 2014

Rwanda: Small solar units to help expand electricity access

Rwanda is expanding the use of small solar units for remote households and schools to help meet a government target of increasing access to electricity to 70 percent of the nation by 2018 from just 22 percent now, officials said. The company, which produces small solar power systems aimed at low-income countries, is working to install 50,000 units in households and schools in the next four years in east Rwanda and with plans to extend its network of outlets across the.... Read more »

Posted on : Sunday , 21st December 2014

Ethiopia plans to expand energy and industry with Eurobond funds

Ethiopia plans to expand industry, sugar factories and power production using proceeds from its oversubscribed debut Eurobond that raised $1 billion, the finance minister said on Tuesday. Ethiopia is the latest African state to receive a strong response on its first foray into the international debt markets. Investors have been eyeing Africa's sturdy growth rates and Ethiopia's economy is now expanding by about 9 percent a year. "This amount will be spent on industry zones.... Read more »

Posted on : Sunday , 21st December 2014

Continental Subsidiary Receives Renewable Energy Grant

 Continental Energy Corporation (OTCQB:CPPXF), the "Company", an emerging international energy investment company, today announced that its Tanzanian subsidiary, Ruaha River Power Company Ltd. ("Ruaha Power"), has been appointed manager of a US$ 95,000 grant from the Rural Energy Agency ("REA") of Tanzania.   The grant is made under the Tanzania Energy Development Access ("TEDAP") program with funds provided by the World Bank and the.... Read more »

Posted on : Saturday , 20th December 2014

Well Results at Etame Field - Offshore Gabon

 VAALCO Energy, Inc. (NYSE: EGY) today announced the completion of the Etame 8-H, the first development well drilled from the newly installed Etame platform, offshore Gabon.  The Etame 8-H was drilled to a Measured Depth (MD) of 3196 meters and penetrated the Gamba Sand reservoir interval at 1820 meters True Vertical Depth (TVD), contacting 135 meters MD of high quality reservoir within the oil-bearing portion of the Gamba sand.     Additionally, the wellbore.... Read more »

Posted on : Saturday , 20th December 2014

PSC Commences N5 Billion Manufacturing Plant

 As the price of crude oil plummets globally, Nigeria is in for a hard time because most of her revenues come from crude oil sale. Unfortunately, not only is the price decreasing but also sales as many of Nigeria's customers have now either discovered crude oil in their country or are more dependent on renewable energy. Nigeria, blessed with abundant sunlight and wind, has no excuse not to make the most of these resources to generate enough power for domestic use and export the.... Read more »

Posted on : Saturday , 20th December 2014

Calls to Strengthen Investments and Trading Between African & Arab Countries

 Minister of Fishing and Fishery Resources Sid Ahmed Ferroukhi called Monday in Algiers to strengthen the inter-Arab cooperation in the field of fishing and aquaculture as well as to develop trading and investments. Speaking on the occasion of the 5th Arab Congress on Investment and Exploitation of Fishery Resources and Food Security, the minister urged the Arab countries to concentrate their development policies on the rational exploitation of fishery resources and improvement.... Read more »

Posted on : Saturday , 20th December 2014