Uganda car dealers peg prices to US dollar as shilling woes continue

 Big car dealerships like CMC Motors, Toyota Uganda, Nissan, Spear Motors and Tata all peg their rates to the dollar.   Mark Kass, the CMC Motors chief executive officer, said this week the decision to quote car prices in dollars was influenced by the high depreciation rate of regional currencies.   “East Africa’s currencies are depreciating at around two and half per cent every 10 years. For this reason, all our (CMC Motors) products will be priced in.... Read more »

Posted on : Saturday , 25th July 2015

Honda Motor Company begins car manufacturing in Africa

 Japan’s Honda Motor Company has begun manufacturing cars in Nigeria, said the new chief executive Takachiro Hachigo   According to Hachigo, a part of Honda’s motorcycle factory in Nigeria has been retooled to manufacture Accord Sedans. The company plans to make 1,000 cars annually and hopes to increase production if the local market is responsive to the new car.   The Japanese car maker is one among many others to start production in Africa. Companies.... Read more »

Posted on : Saturday , 25th July 2015

Africa: Technology, innovation and infrastructure development

Continuous growth on the African continent has brought with it a growing need for infrastructure development to meet the requirements of the growing population.   With that said innovation in the construction industry is at the core of development on the continent.   Toby Shapshak, who will be a Keynote speaker at the African Construction and Totally Concrete Expo 2015, in his TED Global address in 2013 said, “Innovation in Africa is the purest form of innovation.... Read more »

Posted on : Saturday , 25th July 2015

Tanzania Stamigold Reaches USD 15 Million In Gold Exports In Its First Year

Stamigold Company Limited, subsidiary of Tanzania’s State Mining Corporation (STAMICO), announced that it has sold in international markets 12,923 ounces of gold worth USD 15 million, as a result of its first year’s operations at Biharamulo Gold Mine Project located in Kagera Region, Northwest of Tanzania. Tanzania-stamigoldThe announcement was done at an event headed by Stamigold General Manager, Eng. Dennis Sebugwao in Dar es Salaam, Tanzania’s commercial capital,.... Read more »

Posted on : Saturday , 25th July 2015

Tanzania to ink local content gas policy

 The government of Tanzania through its Ministry of Energy and Minerals has assured oil and gas stakeholders especially those engaged in Small and Medium Enterprises (SMEs) that the Local Content Policy (LCP) is in its final stages before being implemented. Neema Lugangira Apson, a Senior Supplies Officer in the ministry responsible for Local Content (LC) said in Dar es Salaam last week that once the merging of the National Energy Policy 2015 (NEP) is completed, the ministry.... Read more »

Posted on : Friday , 24th July 2015

Africa: Tawana Resources discovers minning opportunities & expansion

 Mining company Tawana Resources has discovered a new high-grade Direct Shipping Ore (DSO) hematite mineralisation in Monrovia, Liberia   The newly-discovered DSO mineralisation contains around 62.8 per cent to 66 per cent iron, stated company officials.   Aside from the high-grade DSO, Tawana Resources has also discovered a strike of friable itabirite mineralisation in the Goehn prospect, part of its ongoing low-cost exploration strategy over the recently acquired.... Read more »

Posted on : Friday , 24th July 2015

Tanzania set to become 'logistics hub' for LNG industry

 PricewaterhouseCoopers (PwC) has said that ongoing infrastructure work in Tanzania will see the country become a hub within the global LNG industry   A report by the professional services firm said Tanzania could become a leading exporter of liquefied natural gas by 2025, supplying markets such as Pakistan, Spain, Chile and China.   With transport and utilities infrastructure projects worth US$19bn already in the pipeline, the country also has plans in place to.... Read more »

Posted on : Friday , 24th July 2015

Multimillion dollar Century Park Complex Rwanda set for construction

 The Kenya Commercial Bank Rwanda and Century Park Ltd have inked a financial partnership agreement to fast-track the multimillion dollar Century Park Complex Rwanda in Kigali . The bank will put in more than $200 million into the construction of the Century Park Complex Rwanda that is expected to add more than 200 apartments, 16 dinner lavish villas, supermarkets and two 5 star hotels. The contract, according to Charles Haba, the director of Century Real Estate, is a great.... Read more »

Posted on : Friday , 24th July 2015

US$350million oil pipeline in Kenya from Mombasa to Nairobi.

 Kenya Pipeline Company has secured a $350million loan to invest in the construction of a new 450-kilometre oil pipeline in Kenya from Mombasa to Nairobi. The state owned oil dispenser will move ahead to a 20 inch contemporary multi-product oil pipeline in Kenya to reinstate the more than 30 year old – 14 inch pipeline currently in use. For the duration of the signing of the loan with a group of six banks, KPC acting managing director Flora Okoth alleged work is likely to.... Read more »

Posted on : Friday , 24th July 2015

Gasol and African Iron Ore Group in LNG deal

 West African energy development company Gasol plc has entered a strategic partnership with Switzerland-based African Iron Ore Group Limited (AIOG) to provide liquefied natural gas (LNG) for mining projects in western Africa   AIOG will supply provide liquefied natural gas (LNG) for mining projects in Western Africa.   AIOG is currently developing iron ore projects in central and west Africa, focusing on the region's requirements for rail and port infrastructure and.... Read more »

Posted on : Thursday , 23rd July 2015

Italy’s gas explorer Eni announces gas discovery in Africa

 Italy’s gas largest gas explorer Eni has reported a gas discovery in Egypt Nile Delta Abu Madi West which is located 120 Kilometres in the Northwest of Alexandria in Egypt. According to the company the preliminary reports estimate that the gas discovery in Egypt has the potential of producing up to 15B cubic metres of gas at a time with upside and also at an associated condensates. The announced discovery was made by the Nidoco NW2 Dir NFW well, which reached a total.... Read more »

Posted on : Thursday , 23rd July 2015

Kenya signs US$ 333m deal for Kuresoi dam construction

 BNP Paribas Italy and Intesa San Paolo banks have signed a US$ 333m agreement with Kenya for the construction of Kuresoi dam in Kuresoi, Nakuru county.   The signing of the agreement at State House, Nairobi, was witnessed by President Uhuru Kenyatta and Italian Prime Minister Matteo Renzi after they held bilateral talks. The agreement brings Italy’s total financial assistance to Kenya to US$ 528m   The total amount will be used for the construction of Kuresoi.... Read more »

Posted on : Wednesday , 22nd July 2015