Agaciro Fund targets Rwf1.2b from investments by June 2015

Agaciro Development Fund Corporate Trust Limited projects to earn over Rwf1.2 billion interest from the investments it has made by June next year, Vianney Kagabo, the Fund’s chief executive officer, has said.   Kagabo (left) receives the contribution from CSK’s Rwabuyonza yesterday. (Emmauel Ntirenganya) Kagabo (left) receives the contribution from CSK’s Rwabuyonza yesterday. (Emmauel Ntirenganya) Kagabo said the Fund has so far received Rwf24.1 billion in.... Read more »

Posted on : Thursday , 20th November 2014

Firm injects Sh2.2b into Mombasa garments factory

 Mombasa Apparels 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.... Read more »

Posted on : Thursday , 20th November 2014

Tanzania: Experimental Oil Drilling to Start Soon in Rukwa

HERITAGE Rukwa Tanzania is set to start drilling its first experimental oil well in Tanzania's Rukwa Rift Basin after successful completion of exploration in the area, the National Assembly was told on Tuesday.   Deputy Minister for Energy and Minerals, Mr Charles Kitwanga said this in Parliament on Tuesday when responding to a question by Mbozi West Member of Parliament, Mr David Silinde. "Oil drilling in Lake Rukwa is scheduled to start any time soon. How are the people.... Read more »

Posted on : Thursday , 20th November 2014

GE Expanding its presence in Nigeria s power sector further

 IGPES Gas & Power is a subsidiary of IGPES Limited, a wholly owned Nigerian engineering services company. IGPES has an extensive footprint in the Nigerian oil and gas industry by providing integrated engineering, procurement and construction services across the energy value chain.   "Our new distribution and services agreement with GE gives IGPES access to a gas engine technology that is highly regarded within the global oil and gas industry for its operational.... Read more »

Posted on : Thursday , 20th November 2014

Ghana's state oil company can take over the much-smaller national gas firm under a deal approved by the government

 Ghana's state oil company can take over the much-smaller national gas firm under a deal approved by the government, Finance Minister Seth Terkper said on Wednesday during the annual budget. The deal will bring Ghana National Petroleum Corporation (GNPC) finance to a Ghana Gas pipeline and processing facility that transports gas from the offshore Jubilee oilfield onshore for domestic use, according to a senior GNPC official. The $750-million Atuabo gas facility in western Ghana.... Read more »

Posted on : Thursday , 20th November 2014

BASF and Regional Dermatology Training Centre (RDTC) in Tanzania Develop Sunscreen for People with Albinism

Local RDTC production assures the supply of sunscreen for 2,000 affected people in North Tanzania; BASF provides ingredients and expertise for improved sunscreen and further expansion of the station. Those affected have light-colored skin, hair and eyes, making them more susceptible to sunburn and putting them at increased risk of skin cancer. In the East African country at the equator one in every 2,500 inhabitants is a person with albinism. The average life expectancy of the.... Read more »

Posted on : Wednesday , 19th November 2014

Pharmaceutical firm launches new anti malaria drug formulation in Kenyan market

A Global Pharmaceutical firm on Friday launched a new anti malaria drug formulation into the Kenyan market that is aimed at increasing adherence to the medication. "Malaria patients now only have to take one tablet per dose compared to the four tablets previously," Novartis Pharma Services Manager for Africa Operations Nathan Mulure said in Nairobi. Novartis said that the new formulation has already been launched in Nigeria and Angola and will soon be launched in Uganda.... Read more »

Posted on : Wednesday , 19th November 2014

Tanzania Railways in $130m revival plan

Tanzania Railways Ltd has embarked on an ambitious Tsh230 billion ($130 million) plan to modernise its infrastructure, to be financed through a commercial loan. TRL board chairman Severine Kaombwe said the firm also plans to digitise its operations and buy new equipment that will attract more hauliers to transport bulk cargo to upcountry destinations and landlocked countries through the railway network. “We are finalising a few things with the Tanzania Investment Bank so that.... Read more »

Posted on : Wednesday , 19th November 2014

Africa bets on road, rail and port projects for growth

When Dr Donald Kaberuka took over as president of the African Development Bank (AfDB) in 2005, one of his first acts was forming a little-known task force that would define the Bank’s agenda in the next decade. Four men — two civil engineers and two economists — carefully chosen from Anglophone and Francophone regions to bridge this historical chasm, were given the task of solving one piece of the big puzzle that is the crisis of development in Africa. In the early.... Read more »

Posted on : Wednesday , 19th November 2014

Nampak to invest US$179 million in African manufacturing unit

 The company said that the step was expected to strengthen its position in the beverage can and glass packaging sectors in Africa. A report in South African newspaper Business Day said that almost US$112mn will be invested in a third furnace at Nampak's Germiston-based glass bottle business. The report added that the investment was aimed at improving overall manufacturing efficiencies, enabling the company to supply a broader range of bottles. The second.... Read more »

Posted on : Wednesday , 19th November 2014

PPC to set up plant in Africa

 The company revealed the information last week without giving out the details of how much the project would be worth. A senior executive of PPC was quoted in African business daily Business Day last year as saying that the company would spend US$200mn on a cement factory in Zimbabwe. The new factory in Zimbabwe, where PPC already runs two plants, will serve markets in the capital Harare and central Mozambique. PPC has also been looking at building another plant in.... Read more »

Posted on : Wednesday , 19th November 2014

General Electric to build manufacturing unit in Africa

 The decision to build the manufacturing unit follows the conclusion of GE’s agreement with the Nigerian government in January 2013. Calabar Free Trade Zone general manager Sadiq Kasim said, “Work on the site of GE’s engineering manufacturing plant will commence as soon as other formalities are adressed. We have given them land and very soon their engineers will mobilise to site and start work. They will be committing about US$1.6mn for the first.... Read more »

Posted on : Wednesday , 19th November 2014