Swala Energy hints possible Farm-in in Eastern Africa

 Swala Energy has announced that it is in farm-in conversations in Eastern Africa as the company seeks ways of raising alternative funding transactions.   This follows the withdrawal of a share purchase plan by the company’s board as the company aims at raising $5 million to finance its drilling obligations ahead of the planned in 2015.   Swala which has already suspended its shares from trading since 24th November says the voluntary suspension may continue.... Read more »

Posted on : Tuesday , 2nd December 2014

Boost to African Manufacturing Industries to Build Stronger Economy

 The Government wants the manufacturing industry to have a greater weight in the national economy, at a time the country needs to diversify its economy still heavily dependent on the oil sector. This was said Wednesday in Luanda by the minister of Industry, Bernarda Gonçalves. The minister was speaking at a press conference, saying that the National Development Programme and the Angola Industrialisation Programme make provision for the diversification of the economy,.... Read more »

Posted on : Tuesday , 2nd December 2014

African Trade & development receive $320 million

 A variety of lenders are designated mandated lead arrangers including several African banks: Rand Merchant Bank, Bank du Caire and Nedbank. Admassu Tadesse, the PTA Bank President said, “We are grateful to our correspondent banking partners for their increased African appetite and their confidence in PTA Bank as it continues to grow, modernise and vigorously pursue our vision of being a world class specialised African financial institution.”  Other arrangers.... Read more »

Posted on : Tuesday , 2nd December 2014

Inter African Investment to Boost Trade Ties

 ZIMBABWE and South Africa will soon sign a Memorandum of Understanding to strengthen trade and industrial relations, Industry and Commerce Minister Mike Bimha has said. "This framework is expected to further strengthen trade and industrial relations between our two countries. South African business people should take advantage of this framework to explore investment opportunities in Zimbabwe," Minister Bimha said. The Industry and Commerce Minister said this while.... Read more »

Posted on : Tuesday , 2nd December 2014

The 2014 World Economic Forum on Africa

 The World Economic Forum on Africa (WEFA),  has come to a close after three days of deliberations; over 1,200 regional and global leaders from 80 countries worldwide attended the event. The forum, centered on the theme of “Forging Inclusive Growth, Creating Jobs,” saw the participation of Nigerian President Jonathan Goodluck, Prime Minister of the Ivory Coast Daniel Kablan Duncan, Chinese Premier Li Keqiang, as well as Africa’s wealthiest businessman,.... Read more »

Posted on : Monday , 1st December 2014

GE to Invest U.S. $2 Billion in Africa by 2018

 GE will invest $2 billion in facility development, skills training, and sustainability initiatives across Africa by 2018. GE made the announcement in advance of President Obama's U.S.-Africa Leaders Summit. Through partnerships and technology, GE is poised to help increase access, reliability, and affordability of core infrastructure throughout the continent.... Read more »

Posted on : Monday , 1st December 2014

Innovative Investing in African Emerging Markets

 New York — Forum hosted by the Initiative for Global Development brings together leading African and international CEOs, senior executives, and investors to discuss investing in Africa The Initiative for Global Development (IGD) convened its eleventh Frontier 100 Forum today, bringing together CEOs and senior executives from top corporations around the world. The Forum's theme, "Africa: Innovative Investing in Emerging Markets,"highlights the global importance.... Read more »

Posted on : Monday , 1st December 2014

Kentsel Machinery Co.set to expand to the African Market

 Kentsel Mchinery Co. is one of the leading manufacturers of light construction machines. Each item in its production scope is manufactured under restricted brand name of VIBROTECH and also in compliance with ISO 9001-2000 Quality system certification. Kentsel pursues the latest high-Tec facilities and engineering innovations in order to serve best its customers and partners. Kentsel embraces professionalism and client-oriented principles with zero tolerance to shortcuts; it has.... Read more »

Posted on : Monday , 1st December 2014

India, Mozambique sign oil and gas cooperation MoU

 India’s Minister of State for Petroleum and Natural Gas Dharmendra Pradhan met with Oldemiro Julio Marques Baloi, Mozambique’s Minister of Foreign Affairs in New Delhi.   The two sides discussed various areas of mutual cooperation in the energy sector. Pradhan said that both the countries have traditional links which have grown from strength to strength over the years. He added that Indian public sector companies have participating interest in.... Read more »

Posted on : Monday , 1st December 2014

Call for expression of interest for construction of Nampula Hospital, Mozambique

 The Ministry of Health in Mozambique has called for submission of interests for construction of Nampula General Hospital. According to the tender document, contractors to be considered are those from Arab countries and Africa or any partnerships between or among contractors from those regions.   Companies interested in the of Nampula General Hospital project should submit their interest by December 11 2014 to the ministry, addressed to the Managing and Executing Unit of.... Read more »

Posted on : Monday , 1st December 2014

African entrepreneurs bringing power to the people

 I see huge promise for growth in sub-Saharan Africa. The region is home to six of the 10 fastest growing economies in the world. A majority of Africans will belong to the middle class within a generation. There is enormous potential for development to accelerate rapidly. Despite this potential, I remain struck by the contradictions and counterforces that are working against growth. Without electricity, clean water and basic healthcare, the talented people who will facilitate.... Read more »

Posted on : Saturday , 29th November 2014

Analyst predict flat growth outlook for oil and gas industry in 2015

 A new global oil and gas outlook by Moody’s has projected that the industry will witness a flat growth in 2015 a downgrade from the earlier expectation of more than 5 percent growth largely attributed to the drop in crude oil prices.   According to the report 2015 and 2016 price assumptions are down by $10/bbl and $5/bbl drop respectively  for the Brent price with assumptions for WTI crude down by $10/bbl for 2015, to $75/bbl in 2015, and by $5/bbl to $80/bbl.... Read more »

Posted on : Friday , 28th November 2014