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Tanzania: Mortgage Facility Provided Loans Worth 4.5 Billion in 2016/17

National Mortgage facility for civil servants has provided loans to 391 workers from various ministries and local government authorities worth 4.5bn/- during the 2016/17 fiscal year.

This was said in Dar es Salaam yesterday by the Director for Housing Section in the Ministry of Lands, Housing and Human settlement Development, Michael Mwalukasa, while speaking to journalists on the progress made by the facility. He said since the facility was established .... Read more »

Posted on : Monday , 9th January 2017

East Africa: Egyptian Firm Looking to Sell Stake in Rift Valley Railways

Egyptian investment firm Qalaa Holdings has confirmed that it is talking to several local and international investors as it seeks to sell its stake in Rift Valley Railways.

The Business Daily on Wednesday reported that a consortium of local firms has made a $133 million bid to buy an 80 per cent interest in the Kenya-Uganda railway from the Cairo-based firm.

"Qalaa Holdings... confirms that preliminary discussions are .... Read more »

Posted on : Monday , 9th January 2017

Nairobi - The Only African City in Global Investors Top Five List

Nairobi is on the global watchlist of top five fast modernising cities that are attracting new global business on growing realisation that big companies cannot operate from one sub-Saharan location in South Africa.

The city is also taking off as a hub for global corporations looking to establish an office to cover the East African region, according to Global Cities - The 2016 Report by Knight Frank.

Big companies with globa.... Read more »

Posted on : Friday , 6th January 2017

Commercialisation of agriculture in Tanzania to be private sector-led

According to Geoffrey Kirenga, CEO of the SAGCOT Centre Ltd, (Southern Agricultural Corridor of Tanzania), Tanzania's Development Vision 2025 and ASDS (Agricultural Sector Development Strategy) established clear priorities for the transformation process towards a modern commercial Tanzania to be private sector-led.

Read more »

Posted on : Friday , 6th January 2017

Ethiopia: GERD Project Continues to Receive Public Funding

The Amhara State collected over 15.4 million Birr for the Grand Ethiopian Renaissance Dam (GERD) construction over the last five months.

Expert with GERD Public Support Mobilization and Coordination Secretariat Gizachew Gidey said the money was raised by civil servants, farmers, and the private sector through bond sales and grants.

Planning to collect over 3 billion Birr, the state secured over one billion so far.

Read more »

Posted on : Friday , 6th January 2017

Tanzania: New Building Code System Essential for Real Estate Safety

Dar Es Salam — The government has been urged to introduce the Building Code system as a solution for the haphazard and unlawful real estate development in Tanzania.

The coding system was designed by the Architects Association of Tanzania (AAT) and handed over to the government in 2003.

This follows complaints from residents of major urban centres against violation of laws guiding real estate development, risking healt.... Read more »

Posted on : Friday , 6th January 2017

Ethiopia: Tendaho Irrigation Dam Completed

The dam has a capacity to hold 1.8 billion cubic meters of water and irrigate 60,000 hectares.

Read more »

Posted on : Friday , 6th January 2017

Ethiopia Seeks China's Help to be Africa's Top Car Manufacturer

ADDIS ABABA -- Ethiopia has grand ambitions for its tiny auto industry, seeking to transform a handful of assemblers that bolt together imported kits into a network of factories that can make the country Africa's biggest car manufacturer over the next two decades.

Ethiopia produces about 8,000 commercial and other vehicles a year for the home market, about a quarter of which are cars. But executives say they have capacity to make more if they could obtai.... Read more »

Posted on : Thursday , 5th January 2017

Tanzania: Despite Decrease in Price Clove Exports Increase By $34 Million

Dar es Salaam — Tanzania exported cloves worth $54 million in the year ending October 2016, up from $19.7 million in a similar period the previous year.

A Bank of Tanzania (BoT) economic review for November attributed the rise to an increase in exports to 6,817 tonnes from 1,907.2 tonnes during the period.

However, the commodity prices at the world market fell from $10,324.8 to $7,921.8 per tonne in the year ending Oc.... Read more »

Posted on : Thursday , 5th January 2017

Kenya: Cereal Farmers Ask Ministry for Timely, Subsidised Fertiliser

Cereal farmers in the North Rift region have called for prompt delivery of government subsidised fertiliser as preparations for the next planting season commence.

This is a shift from their demands for better producer prices.

The growers yesterday petitioned the Agriculture ministry to import the farming inputs early.

They said it should avoid the last-minute rush that results in some of them .... Read more »

Posted on : Thursday , 5th January 2017

East Africa: Retail Giant Nakumatt Raises Shs17 Billion Ahead of Share Sale

Nairobi — Retail chain Nakumatt Holdings has raised KSh500 million (Shs17b) through a short- term loan in a deal expected to pave the way for entry of a deep-pocketed strategic investor into the business.

The transaction was disclosed by investment advisory firm Dry Associates, which arranged the private placement last quarter.

The firm said Nakumatt went to the market seeking KSh500 million through an insured loa.... Read more »

Posted on : Thursday , 5th January 2017

Kenya: Doctors Continue Strike Despite Improved Offer from President

Nairobi — Striking doctors are yet to go back to work even after being offered an enhanced pay package that would cost the Treasury an additional Sh4 billion every year.

In the meeting chaired by President Uhuru Kenyatta at State House Mombasa, it was agreed that the entry point of doctors would be enhanced from Job Group L to M, and gross salaries raised to Sh196,000 from the current Sh140,244.

A statement from State.... Read more »

Posted on : Thursday , 5th January 2017

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