Monday, 26th September 2022


Articles related to business

Zeb Nickel has found the presence of anomalously high gold mineralisation on the Zebediela Project in Limpopo South Africa.

It said gold mineralisation on the project is related to the Pietersburg Greenstone Belt, which hosts the historical Eersteling Gold Mine.

The presence of gold mineralisation on both the northern and southern portions of the project area means that the gold mineralisation is a lot more prevalent than initially thought and improves the chances of the project hosting an economic gold deposit that may be independent of the known nickel and platinum group element mineralisation.

“The location of these gold-bearing zones in close proximity to the nickel-copper-PGE bearing Critical Zone rocks means that drilling will coincidently test for both gold mineralization and nickel-copper-PGE mineralisation once critical zone rocks are intersected,” said company chief executive Wayne Isaacs.

He said the company’s technical team are currently finalising the proposed locations for the next phase of drilling.

“We look forward to commencing the next phase of exploration to advance the project and simultaneously provide more confidence in targets two, the historical nickel resource, target two, the nickel-copper-PGE bearing critical zone mineralisation and now target four, the gold mineralisation,” said Isaacs.

Fuel prices have risen once again in Kenya after the government partially removed subsidies that cushioned consumers from the global hike in oil prices.

The energy regulator said late on Wednesday night that it had removed the subsidy for super petrol while retaining a smaller subsidy for diesel and kerosene.

At the new prices, super petrol – mostly used by private motorists – will now cost about 179 shillings ($1.5) a litre, up from 1.3 dollars while diesel, which is used by transporters and industries will cost about 1.4 dollars in the capital, Nairobi. 

Kerosene, which is mainly used by low-income households for cooking and lighting, will cost about 1.2 dollars a litre.

It comes after President William Ruto called fuel and food subsidies "costly and ineffective", in his inaugural speech, Tuesday.

Ruto said Sunday that Kenya was "in a deep economic hole" and repeated his pledge to lower the cost of living as a priority upon taking office.

The East African political and economic powerhouse is reeling from a once-in-a-generation drought and inflation is at five-year highs. In June, the World Bank projected Kenya’s (GDP) would grow by 5.5 percent in 2022, a moderation following last's year recovery when the country’s economy grew by 7.5 percent.


Basket fishing was once the lifeblood of the Wagenya community in northeastern DRC. But fish numbers in the mighty Congo river have dwindled in recent years, and the fishermen see little help from the government.

Many hope that tourism can help to fill the gap in earnings.

"Our works of art give value to the city of Kisangani, you should visit the Wagenya Falls, a symbol of the city, you have to experience this work (ed: art depicting ancestral fishing) which is recognized throughout the world", said Jonas Tshelikangoma, a young seller of Ilimo art.  

The problem is the lack of infrastructure in a region where power supplies remain patchy and access is poor.

"To receive visitors? There are no conditions really, people may want to spend some time at the falls to rest or a holiday but there are no hotels, there are no restaurants, there are not many things", Augustin Tangausi, fisherman and member of the Binakulu clan.

At the beginning of the year, government officials visited the region and promised investments to attract tourists.

The governor of Tshopo province also promised that all the problems would be fixed.

It is a project which consists of modernizing the sites of the Wagenya falls, there will be a hotel which will be built and we will try to modernize the fishery."

"But as for basic infrastructure, that will be our battle, so that we have roads that will allow tourists to travel freely", said Madeleine Nikomba, Governor of Tshopo province.

Much of the DRC, one of the world's poorest countries, has crumbling or non-existent infrastructure due to mismanagement, successive wars, and chronic corruption.

-Africa News

How can Europe manage to secure abundant and cheaper electricity? 

One of the most ambitious projects in the planning is the interconnection of Europe with Egypt via Greece.

An undersea cable that will carry 3,000 MW RES electricity and connect northern Egypt directly to Attica in Greece.  

The project has been undertaken by the Copelouzos Group, whose management met last week with the Egyptian leadership to speed up the procedures

"By bringing 3,000 MW of clean energy to Europe, via Greece, we are helping Europe wean itself off Russia's fossil fuels and natural gas. Also, the green energy we will transport will be much cheaper than today's energy prices. You understand that this will help both Greek and European consumers", said Ioannis Karydas,  CEO of Renewables, Copelouzos Group.

The so-called "GREGY interconnection” is a 3.5 billion euro project that has been categorized as a Project of Common Interest (PCI) by the European Union. 

It will carry clean electricity produced in Egypt (or other African countries) through solar or wind parks.

"Approximately one third (of the electricity that will come from Egypt) will be consumed in Greece, and mainly in Greek industries, another third will be exported to neighboring European countries and one third will be used in Greece, for the production of green hydrogen. The majority of this hydrogen will also be exported to neighboring European countries", added Ioannis Karydas.

Egypt has completed interconnections with Libya, Sudan and Saudi Arabia and aspires to become a major energy hub for SE Europe too.

The "GREGY interconnection” is expected to be operational in 7 to 8 years.

-Africa News

The Senegalese Agency for the Development and Support of Small and Medium-sized Enterprises (ADEPME) has just announced the launch of its "Employment, Economic Transformation and Recovery" program, known as "ETER", which aims to promote the digital transformation of SMEs.

Financed to the tune of 24 million USD by the World Bank over a period of 4 years, the e-SME component of the ETER program aims to enable 5,000 small and medium-sized enterprises to adopt more sophisticated technologies to improve their competitiveness.

With the Covid-19 crisis that has demonstrated the importance of digital tools, Senegal now wants to optimize the national market, particularly by accelerating its digital transformation.

-Africa News

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