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

The 225-MW wind farm in Ghana to be constructed in 2016

The 225-MW wind farm in Ghana is set to commence construction any time in 2016. The project is owned by Ireland based company Mainstream Renewable Power after it acquired the project from Swiss-based developer NEK Umwelttechnik last year.   Mainstream’s Business Development Manager, Chris Matthews says that all environmental permits have been secured and the grid connection and power purchase agreements are being finalized. The project which will cost the country US$525.... Read more »

Posted on : Thursday , 13th August 2015

Constructed Ngong wind power plant is to be commissioned in Kenya

 The constructed Ngong wind power plant is to be commissioned in Kenya by Kengen in a bid to boost the renewable sources contributions to the national grid. It is hoped that the move will help in meeting the vision of generating 5,000MW of power by 2018. The construction of the wind power farm was expanded as a way of scaling up energy sources as the country looks to green energy.   Kengen CEO, Albert Mugo confirmed the reports and said that Ngong wind farm which was.... Read more »

Posted on : Wednesday , 12th August 2015

Global Witness Cautions On Four Shortlisted Firms In Uganda’s First Licensing Round

 Transparency body Global Witness while lauding the first licensing round as an step forward for transparency in the country has cautioned on four shortlisted companies which it says have a questionable environmental and social track record.   The four namely Nigeria’s Oranto Petroleum, Russian Africa Global Resources consortium where it questions two companies Telconet Capital Partnership Ltd and RT Global Resources as well as US based Glint Energy.   Global.... Read more »

Posted on : Wednesday , 12th August 2015

Tanzania Signs New Petroleum Bill To Boost Energy Sector

 Tanzanian President Jakaya Kikwete has signed on 4th August, 2015, the Petroleum Act 2015 meant to boost the energy sector in the country by ruling it under one single and consolidated legislation   The Tanzanian energy sector which was until now regulated by nine different documents between policies and acts, will now be ruled by one piece of legislation.   The Petroleum Exploration and Production Act, and the Petroleum Act, from 1980 and 2008 respectively, have.... Read more »

Posted on : Wednesday , 12th August 2015

Ethiopia wants to raise Mining Profile

The government wants to showcase the opportunities available in mining by hosting an international conference next month in Addis Ababa.This also comes when KEFI Minerals (KEFI), the gold exploration and development company with projects in Saudi Arabia and Ethiopia, announced final bidding has opened for the contracts for construction of the process plant and operation of its Tulu Kapi gold mine. Tulu Kapi Gold Mine is situated 28 kilometres east of Ayra-Gulliso town in the state of.... Read more »

Posted on : Tuesday , 11th August 2015

Tanzania International Petroleum Reserves Increases Oil Storage Capacity By 50% With USD 11 Million Investment

 The Tanzania International Petroleum Reserves Limited (TIPER), a 50/50 joint venture between Swiss Oryx Energies and the Tanzanian Government, has recently announced in a media statement the completion of two refurbished oil storage tanks which expand its current fuel storage capacity from 141,000 cubic metres to 213,000 cubic metres.   The two tanks refurbished with a capacity of 36,000 cubic metres each, needed a total investment of USD 11 million (approximately TZS 22.... Read more »

Posted on : Tuesday , 11th August 2015

Highest Grade Graphite Discovery In Mahenge Region Of Tanzania

 Black Rock Mining Limited (BKT), an Australian based company focused on the exploration and development of the Mahenge graphite project in Tanzania, recently announced on its website that it has discovered a new mineralized zone with highest grades graphite in the Mahenge region.   The new zone named “Ulanzi prospect” is eight times larger than the Epanko North, the most recognized graphite deposit located in South Easter Tanzania, and is located 1 km to the.... Read more »

Posted on : Tuesday , 11th August 2015

Tanzania to invest $380 mln over eight years in cash-starved farm sector

 Tanzania will invest 800 billion shillings ($380 million) over the next eight years in a new state-run agriculture bank to boost growth in the sector, which has long been stifled by low productivity and a lack of financing.   President Jakaya Kikwete launched the Tanzania Agricultural Development Bank (TADB) on Friday after the government provided 60 billion shillings in seed capital for its establishment.   "Around 75 percent of Tanzanians depend on.... Read more »

Posted on : Tuesday , 11th August 2015

UPDATE 1-Kenya, Uganda settle on crude pipeline route

 Kenya and Uganda have reached a final decision on the route for a crude pipeline linking their newly found oilfields to the Kenyan coast, an important step for oil firms to make a final investment decision, the countries' presidents said on Monday.   Oil executives have previously said they cannot make progress with their final investment decision on developing discoveries in Uganda and Kenya until the pipeline route and related costs were clear.   Uganda has an.... Read more »

Posted on : Tuesday , 11th August 2015

Zimbabwe: Govt Splurges U.S.$50 Million On Military Vehicles

The cash-strapped Zimbabwe government has splurged about US$50 million on 633 vehicles which include all-terrain troop-carrying trucks, water cannons, buses and equipment, mostly used by military and police, as it secretly bolsters its instruments of repression to combat any possible Arab spring-style uprising due to the explosive socio-economic situation in the country, it has emerged.   Senior government officials said this week in order to cover up the security vehicles.... Read more »

Posted on : Monday , 10th August 2015

Nigeria: Jaguar XE Sets Record as Tech Leaders Decide Future for Start - U.S.

Coscharis Motors, licensed owner of the Jaguar Land Rover in Nigeria, has once again proven that the future of the automobile industry largely depends on the innovations that come with the Information and Communications Technology (ICT), as the firm unveils its brand new Jaguar XE at the just-concluded Techie+ 2015 Conference and Exhibition, held in Lagos.   The event, which attracted global giants in the technology industry may in the near future become hub of fresh ideas that.... Read more »

Posted on : Monday , 10th August 2015