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Tuesday, September 19, 2017
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South Africa oil firm PetroSA signs $400m deal with Russia

South Africa oil firm PetroSA signs $400m deal with Russia

South African oil  firm PetroSA has signed a U.S.$400 million offshore drilling deal with Russian state-owned geological research firm, Rosgeo, CEO Roman Panov said Monday. The agreement was signed on the sideline of Brics Summit...
Acacia Mining scales down Tanzania operations

Acacia Mining scales down Tanzania operations

International mining firm Acacia will scale down its underground work at its Tanzanian gold mine in the wake of a ban on exports of unprocessed ore by the government, the company said Monday. Acacia...
Kenya Ports Authority gets diesel electric cranes

Kenya Ports Authority gets diesel electric cranes

Kenya Ports Authority says it has offloaded two ultra-modern diesel electric cranes at the port of Mombasa to boost efficiency. While the mobile Harbor Cranes currently used at the Port handle one vessel at a...
Tanzania's Heidelbergcement posts 45.6% drop in profit

Tanzania’s Heidelbergcement posts 45.6% drop in profit

Tanzania Portland Cement Company(TPCC) says its first-half profit has dropped attributing it to an output glut forcing down cement prices.The firm is majority owned by Germany’s Heidelbergcement. It announced Thursday that it posted a 45.6...
Nigeria commissions Bua Cement factory

Nigeria commissions Bua Cement factory

Nigeria has commissioned a multi-million dollar cement factory that it says will help the country not only to be self reliant in terms of cement production but boost exports as well. The Bua Cement...
Tanzania invites bids for power project on Selous game reserve

Tanzania invites bids for power project on Selous game reserve

Tanzania has finally invited bids to construct a huge hydroelectric dam in one of Africa’s largest wild areas-the Selous game reserve regarded as a world heritage site. The move to go ahead with construction of...
Garden City is best green building in sub Saharan Africa

Garden City is best green building in sub Saharan Africa

Kenya's Garden City mall has scooped a major accolade for being the best green building in sub Saharan Africa, a statement from the Africa Property Investment Summit and Expo 2017 has said. The development was...
Ethiopia collects public funds for mega dam construction

Ethiopia collects public funds for mega dam construction

Ethiopia has collected $460 million from the public for the construction of a 6,450 megawatts hydro mega dam on Blue Nile River. Named Grand Ethiopian Renaissance Dam (GERD), located in western Ethiopia, 40 kilometres from...
Mortgage uptake in Kenya records major drop

Mortgage uptake in Kenya records major drop

  Mortgage uptake in Kenya has dropped significantly for the first time in a decade, new data from the country's central bank shows. The report released Wednesday by Central Bank of Kenya(CBK) reveals that the number...
Kigali Heights feted in Africa Property of the Year award

Kigali Heights feted in Africa Property of the Year award

Rwanda's Kigali Heights Development has won the award for the ‘Africa Property of the Year’ in the ‘Best Mixed-Use Development’ category, a statement from the ongoing Africa Property Investment (API) Summit & Expo 2017...

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