The East African Business Council all set to boost regional trade

 This will be promoted within the business community in the EAC Partner States and is expected to guide the private sector in provision and acquisition of services across the region, Andrew Luzze, the Executive Director East African Business Council, has said.   The new code of conduct is expected to be ready by April 2015.   “The Code seeks to incorporate key themes that are internationally recognised as basic principles for responsible global citizenship for.... Read more »

Posted on : Friday , 2nd January 2015

East Africa Investments grow by sh9 trillion

 The growth, which was mostly driven by a boom in finance, insurance and real estate, accounted for 44% of actual investments, the Uganda Investment Authority (UIA) has said. Addressing journalists in Kampala recently, the executive director of UIA, Dr. Frank Ssebowa, said the authority registered an 8% growth in actual investments to $46.8m, compared to $43m recorded in the previous quarter. He added that the business service sector recorded the highest investment to the tune.... Read more »

Posted on : Friday , 2nd January 2015

China expands investment in Tanzania

  The Tanzanian government has begun the compensation process for about 1,000 local residents who will need to be relocated, and construction will begin soon, Abdallah Kigoda, the Tanzanian minister for industry and trade, said at a news conference in Dar es Salaam last month, according to Xinhua, the Chinese state news agency. Mr Kigoda said that the Chinese side would provide $412.5 million for the project, located in the Kurasini area of Dar es Salaam, whose port is one of.... Read more »

Posted on : Friday , 2nd January 2015

Kenyan government to establish modern centre to support investors

 The centre – one of the latest moves by the Government to make Kenya investor-friendly – will bring Government ministries and agencies involved in investment facilitation under one roof. “Our intention is to second senior officers to the Centre with sufficient authority to make decisions.   I have directed the Ministry of East African Affairs and other Ministries involved to hasten this process,” he said. The President spoke today when he.... Read more »

Posted on : Friday , 2nd January 2015

Tanzania Signs USD 1.2 Billion Power Connection Deal With Zambia And Kenya

The Governments of Tanzania, Zambia and Kenya have signed a Memorandum of Understanding (MoU) to fund a USD 1.2 billion power inter-connector project that will connect the Eastern African Power Pool (EAPP) to the Southern African Power Pool (SAPP). tanzania-kenya-zambia-power-gridThe Zambia-Kenya-Tanzania (ZTK) power interconnector project is scheduled to be launched at the end of 2015 or in early 2016 and is expected to be completed by December 2018. According to the Tanzania.... Read more »

Posted on : Wednesday , 31st December 2014

Firm invests Sh2.2b into African factory

 African 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 development. “Such.... Read more »

Posted on : Wednesday , 31st December 2014

Over 100 investors eye African Upcoming Project

 The ranch covering 1.78 million acres is located between Rivers Galana and Tana, which have adequate flow to supply water for irrigation. Agriculture Principal Secretary Sicily Kariuki said the project to ensure a million acres have been irrigated by 2017, has seen various investors express interest.  “Over 100 investors have expressed interest in writing since last year. Some of the investors are from Malaysia, Germany, India, and Israel. They will be shortlisted.... Read more »

Posted on : Wednesday , 31st December 2014

EAC explore trade opportunities with the Eurasian Economic Union

 According to the statement, this was one of the resolutions agreed on during a recent meeting between EAC ambassadors in the Russian Federation and representatives of the EEC that took place at the Kenyan Embassy in Moscow, Russia. Rwanda was represented by Amb Jeanne d’Arc Mujawamariya and first secretary, Francis Karagire. “The meeting was aimed at learning about the EEC integration process and development of the economic bloc with view of exploring business.... Read more »

Posted on : Wednesday , 31st December 2014

Western Corporation Limited exploring the East African Oil & Gas Industry

 Western Corporation limited signs up as a Platinum Sponsor at the 4th Oil & Gas Africa 2015 which will take place from the 27th – 29th April 2015,  at the Kenyatta International Conference Centre, Nairobi, Kenya. The expo is a hub for key players in the oil and gas community, attracting  leading oil, gas and petroleum companies from around the world. This regional trade event serves the resource-rich east African region and city of  Nairobi; Kenya's.... Read more »

Posted on : Wednesday , 31st December 2014

Gas Project Law Adopted by Mozambique Sets Benchmark, IMF Says

 A law adopted by Mozambique this week to provide long-term fiscal and legal stability for gas projects off its northern coast will be a benchmark for such agreements in other countries, said the International Monetary Fund.   The law applies to two projects in the Rovuma Basin, near the border with Tanzania, operated by Anadarko Petroleum Corp. (APC) and Eni SpA. (ENI) It sets terms covering 30 years, while allowing for the tax the companies pay on gas production to be.... Read more »

Posted on : Tuesday , 30th December 2014

Eland Oil & Gas - Crude Oil Sale Update

 Eland (AIM: ELA), an oil & gas production, development and exploration company operating in West Africa with a principal focus on Nigeria, is pleased to announce that Elcrest Exploration and Production Nigeria Ltd ("Elcrest"), Eland's joint venture company, has completed the loading and sale of a further 31,500 bbls gross of crude for an average price of $94.93 per barrel. This will be the Group's final loading and sale for 2014, with settlement due prior to year.... Read more »

Posted on : Tuesday , 30th December 2014

East Africa Sees Growth Accelerating on Investments

 Growth in Kenya, East Africa’s biggest economy, is expected to accelerate over the next three years as the government increases spending on roads, railways and power plants, the National Treasury said.   The economy may expand 6.1 percent in the fiscal year that ends on June 30, 2015, Geoffrey Mwau, economic affairs director at the Treasury, said today in a presentation in the capital, Nairobi. The rate is forecast to increase to 7 percent in 2015-16 and 7.3 percent.... Read more »

Posted on : Tuesday , 30th December 2014