Latest African business news, economy, corporate, markets updates

Tanzania: AfDB Satisfied with Implementation of Water Projects, Pledges More Help

African Development Bank (AfDB) has expressed satisfaction on Tanzania's implementation of water and sanitation projects, promising to continue working closely with the government towards the target of availing water and sanitation services to more citizens.

AfDB Director of Water and Sanitation Department Mohamed El Azizi said in Dar es Salaam yesterday that the bank has financed a number of water and sanitation projects in Tanzania and in Africa in gen.... Read more »

Posted on : Friday , 22nd July 2016

Tanzania: World Bank Releases Sh100 Million for New Dry Port

Dodoma — The World Bank (WB) through the Local Investment Climate (LIC) has disbursed Sh100 million for the construction of a dry port here, Prime Minister Kassim Majaliwa revealed yesterday.

The Premier directed the Capital Development Authority (CDA) and the office of the regional commissioner to set aside land for the construction of the port.

Speaking when launching the project for the expansion and upgrading the .... Read more »

Posted on : Friday , 22nd July 2016

Tanzania: Chinese Bank to Loan U.S.$7.6 Billion for Railway Project

Plans for the construction of a 2,190-kilometre central railway line to standard gauge form are now up for implementation as Chinese Exim Bank has agreed to give a soft loan of 7.6 US dollars (about 16 trillion/-) to finance the project.

According to a statement issued yesterday by the State House, the amount is enough to cover construction of 2,190 kilometres. The project is expected to start this financial year as the government has also set aside abou.... Read more »

Posted on : Friday , 22nd July 2016

Kenya: New Mining Law Hopes to Generate Sh300 Billion Annual Revenue By 2030

Lobbying for influential positions has started in earnest in the new legal order that will govern mining.

The new mining law replaced some laws which were enacted in 1940s just after World War II.

The law creates the crucial Mining Rights Board that will vet applications for licenses as well as a new parastatal, the National Mining Corporation.

It also creates Minerals and Metals Commodities E.... Read more »

Posted on : Thursday , 21st July 2016

Tanzania: AfDB Gives US$ 200 Million Support to Boost Infrastructure

African Development Bank (AfDB) has announced a 200 million US dollars (over 400bn/-) support to the country's transport sector reforms during the 2016/17 fiscal year.

AfDB Vice-President responsible for Human Resources and Governance Alberic Kacou unveiled the financial support in Dar es Salaam when he visited Finance and Planning Minister Dr Philip Mpango yesterday.

Dr Kacou, accompanied by the bank's Resident Director Ta.... Read more »

Posted on : Thursday , 21st July 2016

Tanzania: Govt to Adopt Bulk Procurement System in LPG Importation

Importation of Liquid Petroleum Gas (LPG) in the country has changed, with the government adopting the bulk procurement system effective September, this year.

Deputy Permanent Secretary in the Ministry of Energy and Minerals Juliana Pallangyo announced the changes in Dar es Salaam yesterday, inviting all interested parties to participate in the supply of LPG.

Opening the two-day annual Africa LPG summit for 2016, Dr Pallang.... Read more »

Posted on : Wednesday , 20th July 2016

Tanzania: City Water Supply System Set For Sh476 Billion Expansion

Arusha — The government has allocated Sh476 billion to expand the water supply system in the fast growing city.

This was announced over the weekend by the Director General of Arusha Urban Water Supply and Sewerage Authority (Auwsa) Ms Ruth Koya, while she took the newly-appointed Arusha District Commissioner Mrisho Gambo on a tour of the authority's water supply facilities.

She said the expansion will start in Septemb.... Read more »

Posted on : Tuesday , 19th July 2016

Tanzania: Chinese Investors to Set up $100 Million Tile Factory

Mkuranga — Chinese investors are will invest $100 million (about Sh218 billion) to set up a factory that will manufacture roofing tiles in the country, Prime Minister Kassim Majaliwa heard on Wednesday.

Goodwill Ceramic Limited will start constructing the factory in December this year at Mkiu village, Mkuranga District in Coast region, according to the Chinese Ambassador to Tanzania, Dr Lu Youqing.

"With the inve.... Read more »