Wednesday , June 12 2024

Kenya

Ugandan President Lifts Mineral Export Ban Following Agreement with Kenyan Counterpart

Ugandan President Yoweri Museveni announced the lifting of a mineral export ban that had been in place since 2012. The announcement was made during his speech at the World Bank Summit in Nairobi, attended by 20 Heads of State. President Museveni revealed that the decision came after an agreement with …

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Companies sell ETFs as gold underperforms

The international gold exchange-traded fund (ETF) market is suffering, owing to the poor performance of the gold price in 2013, the South Africa-based investment banking division of Barclays Africa exchange traded products head Vladimir Nedeljkovic said. He says, while gold ETFs in South Africa have remained static, as investors are keeping …

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Hollard acquires Kenya’s Apollo to gain EA foothold

South Africa’s largest privately owned insurance group Hollard International has extended its footprint in Africa through the finalisation an agreement to acquire a significant interest in Apollo Investments Limited, the holding company of Kenya-headquartered insurer APA Insurance. This strategic investment, subject to regulatory approvals, gives Hollard International a presence in …

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Africa needs to safeguard against cyber-attacks in mining and energy

Throughout 2022, 40% of industrial control system (ICS) computers globally were attacked with malware. In Africa, the figure sits at 47%, according to Kaspersky. The three countries which experienced the most attacks on ICS infrastructure were Ethiopia (62%), Algeria (59%), and Burundi (57%). They are followed by Rwanda (46%), Kenya …

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Kenya’s communities to see an increase in entrepreneurial investment following new partnership

Kenya’s startup ecosystem has shown impressive growth over the years, obtaining both 2.1 points in the StartupBlink ecosystem index and ranking as the third-leading African country for startups after South Africa and Nigeria. These achievements have coincided with significant investment flows into areas such as Nairobi, with efforts now underway to uplift …

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New Namibian company for Vesconite

Buying Vesconite products in Namibia has become easier with the establishment of a wholly-owned Namibian subsidiary. Known as Vesconite Bearings Namibia, the new company will stock frequently-ordered hollow bar, solid rods and plate for ease of ordering and distribution into the Southern African country. “Coastal Couriers, a leader in the …

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OP-ed: Available data points to enormous untapped potential of Kenya’s ocean sectors

The ocean is an under-utilized natural resource yet it covers 70 per cent of the Earth’s surface and is home to 80 per cent of all life on the planet. But according to UNEP, very little is known about the resources present in the world’s oceans and their true value. …

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Kwale operations extended by 13 months to December 2024

Base Resources Ltd. announced on Monday that it is moving on with the development of its Bumamani minerals sands project in Kenya, which will extend the life of its Kwale operations by 13 months to December 2024. After a formal feasibility study established Bumamani’s economic viability, the mining company decided …

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Shanta Gold to accelerate growth with windfall from Stanbic Bank

Shanta Gold, an East African gold producer, developer, and explorer, has signed binding definitive documents with Stanbic Bank Tanzania for a $20 million loan facility to help it expand its portfolio. Shanta CEO Eric Zurrin says the four-year $20 million facilities is a significant step forward for the company because …

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Kenya aspires to be Africa’s block reward mining hub

Kenya aspires to be Africa’s block reward mining hub, and the country’s largest power producer is leading the charge. The company, known as KenGen PLC, is luring miners with cheap geothermal energy and claims to have been approached by several miners from Europe and the United States. Speaking at a …

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