SOME 10 million US dollars (17.22bn/-) has been closed in escrow and up to 3,642,857 common share purchase warrants for an institutional lender that will provide money to develop Buckreef gold mine project jointly owned by Tanzanian Royalty Exploration Corporation (TRX) and State Mining Corporation (Stamico). In a statement issued, TRX Chief Executive Officer, James Sinclair said the facility may be increased to 15 million US dollars.... Read more »

Posted on : Tuesday , 16th December 2014

 CIL officials said that India would start receiving coal from the Mozambican mine within the next three to four years. “The final phase of exploration for CIL’s A1 and A2 mining blocks at Tete Province is complete. Coal sampling is in progress. A geological report and detailed project report will be prepared. We hope to start mining within next six months to a year,” added a senior official of CIL. If the plans of the.... Read more »

Posted on : Monday , 15th December 2014

 According to the company, the newly opened factory is part of the country's move to position itself and East Africa as a key investment hub in sub-Saharan Africa. Adan Mohamed, industrialisation and enterprise development cabinet secretary of Kenya, said, "From a global perspective, many industrialised nations have had the textile and apparel sectors as their pioneer sectors to achieve industrialization. Investments in the textiles.... Read more »

Posted on : Monday , 15th December 2014

 Adelia Pimentel, marketing and communications executive at SEIFSA, said, “It is of paramount importance that companies play a crucial role in socio-economic upliftment and are recognised for their contributions and encouraged to continuously do more.” Ten categories have been shortlisted for awards such as “Most Innovative Company of the Year” for the company that has shown the high creativity in research and.... Read more »

Posted on : Monday , 15th December 2014

 Keen on expanding its small electricity generation capacity to support an industrialisation drive, the east African country is currently pursuing several multi-billion-dollar projects, most of them in hydropower generation. Officials previously said the government was also looking for investors to develop solar energy and other renewable sources of power such as biomass, waste energy, geothermal and wind power. The state-run Electricity.... Read more »

Posted on : Monday , 15th December 2014

 A three-day meeting of experts opened on Monday this week at the African Union Headquarters in Addis Ababa in advance of the 9th Ordinary Session of the African Union Conference of Ministers of Trade to be held on 4-5 December. The experts are deliberating the implications of mega regional trade agreements and current investment trends in the context of Africa's commitment to forge its economic integration. The discussions are particularly.... Read more »

Posted on : Thursday , 11th December 2014

 General Electric (GE) has awarded Nexus Alliance Limited, contract for the technical training and capacity development of all personnel that will be engaged at its (GE's) Multimillion dollar Manufacturing and Assembly facility situated in Calabar, Cross River State. Vice Chairman of GE Mr. John Rice, this in Abuja during a recent visit to Nigeria. He said the contract award was in fulfillment of the pledge made by Chairman of GE, Mr. Jeff.... Read more »

Posted on : Thursday , 11th December 2014

 Fifteen firms from four countries have indicated interests to invest in key sectors of the economy such as agriculture and manufacturing. This was made known by the Nigerian Ambassador in Argentina, Amb. Chive Kaave, when he led the investors from Argentina, Peru, Cuba and Paraguay to meet with the Executive Secretary of the Nigerian Investment Promotion Commission, NIPC, Mrs. Saratu Umar. He said the visit was in response to the federal.... Read more »

Posted on : Thursday , 11th December 2014

 THE Managing Director, Siemens Nigeria, Onyech Tifase, has described the company's feat in addressing challenges in Nigeria's real sector as a testimonial to the fact that the company fully understands the Nigerian terrain and is deeply committed to the country's development. According to her, Siemens is ready to assist its customers to surmount the challenges in the manufacturing environment, with inadequate levels of infrastructure,.... Read more »

Posted on : Thursday , 11th December 2014

 he government paper was oversubscribed to US$8.8bn although the government was interested in just US$2bn. The money will pay for key infrastructure projects such as the Lamu Port, the US$3bn worth Galana-Kulalu irrigation project at the Coast and geothermal power project development in the Rift Valley. “Access to international capital markets will help reduce our domestic borrowing. This will leave greater room for private sector.... Read more »

Posted on : Wednesday , 10th December 2014

 The deals would cover areas such as infrastructure, power distribution, real estate and business cooperation, added Kikwete. A report in Reuters Africa has stated that the countries will develop a satellite city worth US$1bn and a financial centre worth US$500mn in Dar es Salaam. The two projects are jointly developed by the China Railway Jianchang Engineering Company and Tanzania’s National Housing.... Read more »

Posted on : Wednesday , 10th December 2014

 The report titled Capital Projects & Infrastructure in East Africa, Southern Africa and West Africa,was drafted after a survey was conducted among 95 players in the infrastructure sector such as government bodies, private financiers, development finance institutions and construction companies across East, West and southern Africa. The sectors that were part of the survey included water, transport and logistics, energy, mining,.... Read more »

Posted on : Wednesday , 10th December 2014