Latest African business news, economy, corporate, markets updates

Tanzania: 250 KM Power Line To Be Ready Soon

Dodoma — EXECUTION of the 250-kilometre of power line from Makambako in Njombe Region to Songea in Ruvuma region at a cost of 34.68 million US dollars and 15.41bn/- is expected to be completed by June 2018, the National Assembly heard yesterday.

Among others, the first phase of the project will involve expansion of a power sub-station at Makambako and construction of new 220/33Kv stations at Madaba and Songea, Deputy Minister for Energy and Mineral.... Read more »

Posted on : Wednesday , 1st June 2016

Africa won't fall back into 1990s-style debt trap: AfDB

Africa is unlikely to fall into the type of unsustainable debt trap seen in the 1990s despite a spike in borrowing and widening budget deficits, the African Development Bank (AfDB) said on Monday.

Falling commodity prices and slowing global growth have hammered African economies in the past year, prompting many governments to sharply increase borrowing, drawing comparisons with the crippling debt trap many countries faced in the 1990s. The AfDB said last week that Afr.... Read more »

Posted on : Tuesday , 31st May 2016

Ethiopia's Grand Dam Well on its Way to Completion

The people and government of Ethiopia have recently celebrated the fifth year anniversary of the Grand Ethiopian Renaissance Dam (GERD), a multi-billion dollar hydro electric project, being constructed on the Blue Nile river, in the Guba Woreda, Benshangul-Gumuz State.

They are cognizant to the fact that constructing the Dam has many fringe benefits to the country's economic growth through providing sustainable cheap power for local consumption as well as for neighbou.... Read more »

Posted on : Saturday , 21st May 2016

Kenya needs to rethink its regional business strategy

The necessity for the private and public sector to work together to safeguard and grow the country’s economy has never been greater than it is today following recent regional developments.

Uganda fired the first shot in what appears a coordinated assault on Kenya’s interests when it decided to tear up its agreement to build a joint crude oil pipeline. The decision has the potential to throw a spanner into regional plans for the construction of the Lamu Por.... Read more »

Posted on : Saturday , 21st May 2016

Tanzania-Zambia Railway to be extended to four countries

The Tanzania-Zambia Railway (Tazara) is yet to be extended to four other countries including Rwanda, Burundi, Malawi and Eastern DR Congo as well as to Tanzania’s multibillion-dollar Bagamoyo port.

This is according to Government officials from Tanzania, China and Zambia who met in Dar es Salaam to discuss about the ailing infrastructure link that runs from Dar es Salaam to Kapiri- Mposhi in Zambia.

Rowland Msiska.... Read more »

Posted on : Tuesday , 17th May 2016

Construction of Ethio-Kenya Road almost complete

The construction of Ethio-Kenya Road linking Kenya to Ethiopia is set to be completed soon; this is according to The Kenya National Highways Authority (KeNHA).

Regional Director for Eastern Africa Resource Centre of the African Development Bank Group, Mr. Gabriel Negatu confirmed the reports and said that the road which covers 121km of Merille-Marsabit and 122km of Turbi-Moyale will have a very significant impact in regional integration and h.... Read more »

Posted on : Thursday , 12th May 2016

Tanzania: REA Scheme to Give Power to 6000 Villages

THE government has said nearly 6,000 villages will be connected with electricity through the Rural Energy Agency (REA) phase three. Deputy Minister for Energy and Minerals, Dr Medard Kalemani, told a parliamentary committee on Energy and Minerals when giving details of the implementation of REA budget in 2016/2017 fiscal year.

The deputy minister said the implementation of the third phase would kick off after the end of phase II at the end of June this y.... Read more »