January 2019 / South Africa
AFRICAN BANKS TO MAINTAIN STABLE PROFITABILITY IN 2019, MOODY’S SAYS
Cargo traffic through Ghana’s ports increase by 20%
Stanbic Bank Zambia intensifies its investment in the growth of Zambia’s agricultural Sector
Dubai healthcare company buys stake in Kenyan drugs maker
Nigeria completes construction of 8 multi-million dollar power plants
Collapse of electricity supply in NigeriaAdditionally the company also constructed a total of 2,600km of 11kv and 1,700km of 33kv distribution lines for improving access to electricity. The NDPHC assets are the backbone of Nigeria’s power infrastructure. In grid instability, NIPP plants provide about 265MW of spinning reserves to facilitate grid responsiveness during disturbances on the transmission network. The massive construction of these power projects has prevented the total collapse of electricity supply in Nigeria. The NDPHC noted that electricity supply has stabilized while incremental power supply is ongoing. “When most of the NIPP projects are completed and are operational, power supply to Nigerians is expected to be better and drive the economy,” said NDPHC. The NDPHC however hinted power distribution chain as the major hitch with the power supply in Nigeria and urged the government to give serious consideration to waving duties on equipment for power duties for power projects. The company further suggested that power distribution companies should have the capacity to take more than what the transmission gives out. This enables redundancies to decrease at the different levels and minimize losses while power is being transmitted from one location to another.
Uganda launches largest solar power plant in East and Central Africa
Tanzania: Spanish Firm to Design Top-Level Lake Victoria Ferry
South Korean firm GAS Entec has contracted Spanish engineering and technology group Sener to design a 1,200-passenger ferry to ply Lake Victoria under the Tanzanian state-run shipping line, Marine Services Company.
When completed, the 90-metre $38.5 million vessel is expected to link ports in Tanzania, Uganda and Kenya. With a capacity to carry 400 tonnes of cargo and 20 cars, it will be the largest vessel plying the Great Lakes.
The parts for the ship are to be built in Korea and transported to Mwanza, where the ferry will be assembled.
Sener says the ferry will be equipped with an aft cargo hold to allow the passage of vehicles and storage of cargo, with one aft ramp door for vehicles and another smaller ramp door on the starboard side for palletised cargo.
MSCL chief executive Eric Hamissi said they hope to complete building the ferry by the time the standard gauge railway services between Mwanza and Dar es Salaam begin.
He also disclosed MSCL plans to introduce oil tanker and container carrier services on Lake Tanganyika "to address an ever-increasing demand for such vessels in that lake plying the Burundi, DRC and Zambia routes."
"Before 2025, we have plans for an extended spectrum of operations that will include introducing cargo ship services for ocean routes, particularly to the Comoros Islands. We are closer to those islands than Mombasa and Durban," Mr Hamissi added.
Last September, the Marine Services Company, signed separate contracts with three South Korean firms to revamp shipping services on Lake Victoria under a Tsh152 billion ($66 million) project co-funded by the Tanzanian government.
Under the deal, GAS Entec will team up with the Tanzania People's Defence Forces National Service economic wing, Suma JKT, to build the ferry and commission it within two years.
The other contracts involve the rehabilitation of two old boats -- MV Victoria and MV Butiama -- at a combined cost of Tsh27.5 billion ($12 million), and construction of a 100-metre slipway at Tsh35.9 billion ($15.6 million).
The former will be undertaken by KTMI and Yuko's Enterprises (EA) Co Ltd, while the slipway will be done by Korean firms STX Engine Co and Saekyung Construction Company.
Work on the two old ships involves replacing the engines.