independent Archives - AfricaBusiness.com

20Dec

By Africa BusinessNo Comments

AE-AMD Renewable Energy And Tenesol/SunPower Begin Work On Two Solar Projects In South Africa

Projects are Part of Government's IPP Procurement Program JOHANNESBURG and SAN JOSE, Calif., Dec. 20, 2012 /PRNewswire/ -- AE-AMD Renewable Energy, a joint venture between the Spanish AMDA energia and the South African Alt-E Technologies, and Tenesol, a SunPower company (NASDAQ: SPWR), today announced two South African ground-mounted solar power projects totaling 33 megawatts (MW). Both projects, which Tenesol will construct, are located near Douglas, South Africa in the Northern Cape Province. Herbert, a 22-MW project, has begun construction, and groundbreaking for the 11-MW Greefspan project will begin in the coming weeks. They are both part of the South African government's Independent Power Producers Procurement Program and completion for both projects i...

21Nov

By Africa BusinessNo Comments

Energy, Green Energy, South Africa News

Africa’s Energy Stakeholders Embrace “Global Technology for Local Solutions”

The timing of the first POWER-GEN Africa and Renewable Energy World Africa, which took place from 6-8 November 2012 in Johannesburg could not have been more favourable as the first contracts between the South African government and independent power producers (IPPs) to add 1400 megawatts of renewable energy to the national grid was signed during the week of the event. Explains Nigel Blackaby, Event Director and Director of International Conferences at event organisers, PennWell Corporation, “this underscores the importance and significance of hosting a globally representative power generation exhibition and conference such as POWER-GEN Africa and Renewable Energy World Africa, which is aimed at linking professionals in the energy generation industry of Africa with lead...

14Nov

By Africa BusinessNo Comments

African News, South Africa News

Digital Marketing Institute Secures €3 million Certification Deal in South Africa

Minister Costello leads Enterprise Ireland trade mission to South Africa Over 3000 students will undertake digital marketing training in South Africa next year as Irish organisation, the Digital Marketing Institute, today announces a new partnership with South African Education Institute, Vega School of Brand Leadership. The Digital Marketing Institute forecasts that the South Africa market will generate revenues in excess of €3 million for the company by 2015. The programme will be launched in Vega School of Brand Leadership Johannesburg today by Minister for Trade and Development, Joe Costello, TD, as part of the Enterprise Ireland Trade Mission to South Africa. Vega School of Brand Leadership will deliver the Digital Marketing Institute’s Professional Diploma in Digital Market...

13Nov

By Hussaini UmarNo Comments

African News, Nigeria News

Nigeria’s Constitution Review: Nigerians reject rotating the presidency between North and South

By Hussaini Umar Nigerians yesterday rejected single term presidency, which is being canvassed by President Goodluck Jonathan, during the House of Representatives Public Hearing on the review of the 1999 Constitution at the 360 Federal Constituencies in the country. Also, in most states, the call for the creation of additional states and the recognition of the six geopolitical zones in the constitution were rejected. So, also, the people rejected the idea of rotating the presidency between North and South, as most of them voted for leadership by merit. At the various venues of the public hearing, delegates were asked to tick ‘yes’ or ‘no’ against each of the 43 aspects of the 1999 Constitution which is being amended by the National Assembly. However, delegates overwhelmingly voted aga...

12Nov

By Africa BusinessNo Comments

African News, Nigeria News, South Africa News

Standard Bank Group leads US$550m Shoreline Natural Resources facility

Standard Bank Group, as mandated lead arranger and bookrunner, has closed a US$550,000,000 syndicated bank guarantee and bridge facilities for Shoreline Natural Resources. This is one of the largest finance deals completed in Nigeria so far in 2012. Shoreline has used the facility to acquire 45% in OML 30, an oilfield in the Niger Delta of Nigeria, from 1 November 2012. China Development Bank joined Standard Bank Group as mandated lead arranger. They were joined by lead arrangers Ecobank Nigeria and First City Monument Bank. The facility was fully underwritten by Standard Bank Group. It was signed with Shoreline on 29 June 2012, has a 12+6 month tenor and is structured as a bank ...

10Nov

By Africa BusinessNo Comments

Energy, Green Energy

Standard Bank Group commits R9.4bn to first batch of renewable energy projects

Standard Bank Group has emerged as the leading investor in the first round of South Africa's renewable energy independent power producer (REIPP) procurement process, backing a total of 11 wind and solar projects. Standard Bank Group will provide comprehensive corporate and investment banking services to all its clients, including underwriting R9.4-billion worth of debt, providing interest and currency hedges, carbon trading credits, and corporate bonding and guarantee facilities. Standard Bank Group has also taken an equity stake in four projects. The South African government's allocation of 1,416MW for this first round of the procuremnt process has translated...

8Nov

By Africa BusinessNo Comments

African News

VAALCO Energy Provides Update on Mutamba Iroru Block Onshore Gabon

HOUSTON, Nov. 8, 2012 /PRNewswire/ -- VAALCO Energy, Inc. (NYSE: EGY) today announced that the N'Gongui 2 exploration well being drilled onshore Gabon in the Mutamba Iroru concession has encountered hydrocarbons in the objective Gamba sandstone section. (Logo: http://photos.prnewswire.com/prnh/20100316/NY71495LOGO ) Robert Gerry, Chairman and CEO, commented: "With our partner, Total Gabon, we have elected to drill this well as a "tight hole" and therefore specifics of the operation will not be released until a later date. Suffice to say that VAALCO is excited about the results as the reservoir encountered is the same oil bearing sandstone that produces so prolifically from our offshore fields in Gabon. We are presently conducting additional operations to ascertain the size o...

11Oct

By Africa BusinessNo Comments

African News

Cloud summit set to transform Africa’s IT industry

The anticipated 3rd annual Cloud and Virtualisation Summit Africa is taking place at the Hilton Hotel in Sandton, Johannesburg, from 10 to 11 October 2012. The event is hosted by international business-to-business conferencing company, Kinetic Events. The must-attend event is aimed at business and technology leaders who need to understand how cloud computing and virtualisation is fundamentally transforming the way in which we think about, acquire and use computing resources. South Africa, Republic of, Oct, 2012 – The 3rd annual Cloud and Virtualisation Summit Africa launched well into day one with positive feedback from all attendees. The summit is gearing the industry forward with a focus on enterprise virtualisation for the enterprise. The summit was officially opened ye...

24Aug

By The African Press OrganizationNo Comments

African News, Kenya News

Catherine Ashton travels to Kenya to reiterate EU support to democracy, security and economic growth in the region

BRUSSELS, Kingdom of Belgium, August 24, 2012/African Press Organization (APO)/ – Catherine Ashton, EU High Representative for Foreign Affairs and Security Policy/Commission Vice President, is travelling to Nairobi where she is to meet Prime Minister Odinga, Minister of Foreign Affairs Ongeri, and other Kenyan leaders on 28 August. As Kenya is preparing for national elections in March 2013, the EU reiterates its support to the efforts of the Kenyan people to build democracy, security and prosperity in their country. Catherine Ashton regrets the loss of life in the conflict in south-eastern Kenya and appeals to the communities involved to cease violence and resort to peaceful means of conflict resolution. On 26 August, Catherine Ashton will also visit a vessel participating in the ...

23Jul

By Africa BusinessNo Comments

African News, Nigeria News

Kola Aluko Hails $4.5 Billion Deal for New Refineries

LONDON, July 23, 2012 /PRNewswire/ -- The Nigerian government has signed a Memorandum of Understanding with US firm Vulcan Petroleum Resources and Nigeria's Petroleum Refining and Strategic Reserve to build six new oil refineries in a deal worth $4.5 billion. Two of the plants, each of which will have a capacity of 30,000 barrels per day, are set to be operational within a year. Nigeria - Africa's top oil producer - has been held back by its lack of refining capacity, which has made it a net importer of processed crude and subject to global price fluctuations. Until recently, a generous fuel subsidy protected consumers from high import prices. Though not yet lifted entirely, six months ago President Goodluck Jonathan announced that this support was no longer affordable. Fund...