Midas changes name to Aftermarket Solutions

The Midas Group has changed its name to Africa Automotive Aftermarket Solutions (AAAS). It will commonly be referred to as Aftermarket Solutions. The Imperial Holdings Limited-owned entity unveiled its new name and brand identity at the inauguration today of its combined head office and distribution centre in Linbro Park, Johannesburg.   The name change comes as a result of the company's growth over the last sixty years, with greater clarity sought around the relationship that.... Read more »

Posted on : Monday , 17th August 2015

FORD WILL ASSEMBLE BEST-SELLING RANGER TRUCKS IN NIGERIA

 • New Ford assembly facility in Ikeja will begin operation in the fourth quarter of 2015 • Ford Motor Company partners with Coscharis Motors Limited in Nigeria • Nigeria to be first African country outside South Africa where Ford vehicles are produced Ford Motor Company has announced it will assemble its popular Ford Ranger pickup truck in Nigeria starting in the fourth quarter of 2015 as part of its expansion in Middle East and Africa. Nigeria will be the.... Read more »

Posted on : Monday , 17th August 2015

Africa Oil 2015 Second Quarter Financial and Operating Results

Africa Oil Corp. is pleased to announce its financial and operating results for the three and six months ended June 30, 2015.During the second quarter of 2015, the Company focused its efforts on appraisal in the South Lokichar Basin, Extended Well Tests (EWTs) in the Amosing and Ngamia fields, and reservoir and engineering studies. This focus for 2015 has the following objectives; confirming reservoir quality and deliverability, resource size and definition, and advancement of the.... Read more »

Posted on : Saturday , 15th August 2015

The oil giants are coming to Tanzania

International oil giants are bearing down on East Africa. Off the coast of Tanzania, the discovery of 46.5 trillion cubic feet of natural gas reserves has put the country on the world energy map. The number is expected to rise to 200 trillion cubic feet in the next two years, and eventually transform Tanzania into a middle-income country. Companies like Exxon Mobil, BG Group and Norway´s Statoil are working with the Tanzanian Petroleum Development Corp (TPDC) in exploration,.... Read more »

Posted on : Friday , 14th August 2015

Construction of Adada River dam in Nigeria to be completed in 2016

The construction of Adada river dam in Nigeria in Enugu State is expected to be completed and commence operational in July 2016. This was revealed by the Enugu State Governor Ifeanyi Ugwuanyi during his inspection at the dam’s construction site. He added that, his administration is ready and willing to provide the necessary support to ensure the project is delivered as scheduled. The project is being supported by the government through the Ministry of Water.... Read more »

Posted on : Friday , 14th August 2015

China to Build First Steel Plant in Liberia

At the peak of bilateral talks with President Ellen Johnson-Sirleaf, China's Foreign Minister Mr. Wang Yi says his country is prepared to add value to Liberia's raw material, as he announces plans to establish a steel plant here.   His announcement comes after President Ellen Johnson Sirleaf made such proposal to a visiting 15 man Chinese business delegation last week. "The highlight of this is that China has committed to helping us to adding value to our products,.... Read more »

Posted on : Friday , 14th August 2015

Kenya to Get Investment Worth $55.6bn for Infrastructure Development

An estimated $55.6 billion in investment into infrastructure development for Kenya is planned (as of 2015), the majority of which will focus on telecommunications and power generation infrastructure, a new study reveals.   Dubbed as African Infrastructure Tracker: Kenya, the research and analysis was done by Frost & Sullivan. The study also reveals that Kenya is set to become a hub for intra-regional trade in Africa.   The study also reveals that Mega infrastructure.... Read more »

Posted on : Friday , 14th August 2015

Zimbabwe: Mining Attracts Investors

The mining industry in Zimbabwe is currently the biggest target for international investors.   Mines and Mining Development Deputy Minister Fred Moyo said the mining sector is the biggest drawcard to the country for foreign investors.   "Mining is currently Zimbabwe's biggest target for international investors. Mineral exports account for over 50 percent of the country's foreign exports earnings," said Deputy Minister Moyo.   The mining sector has been.... Read more »

Posted on : Friday , 14th August 2015

Indian Company to Start Marble Mining in Benshangul-Gumuz

An Indian company yesterday concluded agreement that enables it to mine marble in Benshangual-Gumuz State.   Samaka Stones Private Limited Company has reportedly allocated close to 2.9 million USD to commence the production of 131,600 cubic meters of marble annually.   During the signing ceremony, State Minister of Mines Dr. Alemu Sime said marble production would contribute to the booming construction industry, the earning of foreign currency, knowledge and technology.... Read more »

Posted on : Friday , 14th August 2015

Rwanda: Burera District Constructs New Hotel to Boost Tourism

Burera District is constructing a new hotel in a bid to enhance tourism in the area. The Burera Beach Resort Hotel is situated in Kagogo Sector on the shores of Burera and Ruhondo lakes.   The hotel is being constructed a Japanese firm, Noguchi Holdings LTD. The construction is projected to be completed by December at the tune of Rwf350 million, according to officials.   Samuel Sembagare, the district mayor, said despite having a couple of tourist sites, lack of hotels.... Read more »

Posted on : Friday , 14th August 2015

Exclusive railway bridge to be constructed over Nairobi National Park

 Exclusive Railway bridges are to be constructed over Nairobi National Park. Kenya Wildlife Service (KWS) spokesman Paul Muya said that they intend to build the bridge that will have an entire length of up to nine kilometers. The construction of the exclusive railway bridge over Nairobi national park is a move that conservationists have welcomed as a positive step for Kenya. The railway line was intended to cut through the 117km2, from the port of Mombasa city to Nairobi which.... Read more »

Posted on : Thursday , 13th August 2015

US$300mn risk cover secured for construction of a geothermal power plant in Kenya

 The consoritum that is working on construction of a geothermal power plant in Kenya has secured a has secured a risk cover from a German reinsurer, Munich Re worth US$ 300mn that will eventually pave way for the funding of the well drilling.   The risk cover is meant to compensate investors in the Akiira One project in case the eight geothermal wells being drilled in the Olkaria do not produce enough power.   Centum Investments is in a consortium that is developing.... Read more »

Posted on : Thursday , 13th August 2015