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Latest Business News

Tanzania-Ntorya Project Tipped to Prosper

 The recently appraised Ntorya Project is all set to take the next step in its development and is being set up for construction.

 
Solo possesses a 25% stake in the project, which is being operated by Aminex. Minority partner AIM is said to be looking for a new form of financing, with a new partner or divestment remaining viable options. 
 
An upgrade in the resource estimate has seen the assets value receive a boost,.... Read more »

Posted on : Friday , 29th September 2017

Guru Aly-Khan Satchu to speak at Kenya Mining Forum

 The keynote speaker at the Kenya Mining Forum in Nairobi will be Mr. Aly-Khan Satchu, CEO of Rich management Ltd. The event will be taking place at 4-5th December. Mr Satchu will feature in the opening session of the event and will speak on ‘What do the financial markets tell us about the mining industry at present?’

 
According to Mr. Satchu, kenya’s  current status as a free market, puts the nation in a unique position to flo.... Read more »

Posted on : Friday , 29th September 2017

Kenya Look To Put a Stop to Illegal Mining

 Cabinet Secretary for mining, Mr. Dan Kazungu has stressed the importance of everyone involved in the mining trade to adhere to the rules and regulations stated in the Mining Act. He emphasized the need of valid export permits, while conducting business relating to mining.

 
 “A lot of revenue that is meant to be generated through taxation and royalties are bringing lost to the increased shipment of illegal minerals,” Kazungu said at.... Read more »

Posted on : Friday , 29th September 2017

$100k Raised in Integrity's Latest Run for Kenya

 Integrity Worldwide’s Run for Kenya has managed to raised $100,000 in its most recent run from the humble beginnings of a few thousands during its initial years. 

 
Integrity was founded by Averee Hicks and her spouse Alan Hicks with a goal to bring clean drinking water to the village of Meto.
 
 “We planned to do it for one year and make a couple thousand of dollars. We are now on target to raise ma.... Read more »

Posted on : Friday , 29th September 2017

Magufuli Takes a Stand against Illegal Mining with Latest Reforms

 The latest squabble between the Tanzanian government and its mining sector has led President Magufuli to request the central bank to purchase precious stones, in an attempt to boost the nation’s reserves. This is the latest in the escalating row between the two, over alleged tax evasion from the mining sector.

 
The president released a statement saying, “All the minerals will be controlled and will pass through one gate and he (Magufuli).... Read more »

Posted on : Friday , 29th September 2017

17 Storey Construction Set To Resume After Legal Hassles

 The National Building Inspectorate (NBI) has given the green light to developers to resume the construction a Nairobi building. The 17 storey building was set for demolition until recently, and this latest news will come as music to the ears of investors. 

 
The project was stopped back in December 2016 due to a series of issues regarding non-compliance with the NCA and the Nairobi City County Government (NCCG).
 Read more »

Posted on : Thursday , 28th September 2017

BaraBara Project to Simplify Construction in Kenya

 The Kenyan construction industry has experienced rapid growth over the last ten years. The sector recorded an impressive growth rate of 9.2 per cent in 2016, according to the Economic Survey Report 2017. These statistics have been credited to an increase in investments in road construction and housing development. 

 
It is no co-incidence that this rise in investment has come at a time that he employment rate to risen markedly. The sector now em.... Read more »

Posted on : Thursday , 28th September 2017

Mbaka and Lufilo Bridges Almost Complete

The Government have spent an estimated US$ 25.4 million on the construction of the ne Mbaka and Lufilo bridges. The bridges will act as a link between the village of Kikusya and the Matema Road in the Kyela district.

Read more »

Posted on : Wednesday , 27th September 2017

Mining Ban In Tanzania Is Finally Paying Off

 There has been positive news from the Buzwagi Processing Trial. It was revealed that the mine wil be able to recover approximately 85 per cent of gold recoveries through the use of reagents at minimal secondary costs.

 
An extra 8000-10000 ounces of gold will now be available for sale for the remainder of the year, from the additional gold bars now accessible for extraction.
 
Buzwagi’s original plan was to put an e.... Read more »

Posted on : Tuesday , 26th September 2017

$100 million Mining Deal Agreed in Rwanda

 USA based Symbion Energy and Germany based Higland Group Holdings Ltd. (HGHL) have signed a $100 million deal to collaborate on a project to extract Methane from Lake Kivu in Rwanda.

 
Symbion CEO, Paul Hinks said that the two designs in place for a $370 million project to generate as much as 106 megawats of Methane gas from the lake.
 
Lake Kivu has an estimated reserve of 55 billion cubic meters of methane gas occurring.... Read more »

Posted on : Tuesday , 26th September 2017

Ambitious Kigamboni project now underway in Dar-es-Salaam

An Automotive Dealer based in Dar-es-Salaam has agreed to move all their showrooms from different parts of the city to a new common ground, Kigamboni. Kigamboni is expected to be the new hub of Automobile showrooms in the city. This was all done on the request of regional commissioner Mr. Paul Makonda. However, the local car dealers remain anxious about the completion pf this new undertaking by the city and have asked for a more speedy operation, in hopes to complete the move.... Read more »

Posted on : Thursday , 28th September 2017

Tanzania among Top Ten Investment Destinations in Africa

 Tanzania remains one of top 10 countries to invest in from Africa, according to ‘Where to invest in Africa’ despite recent troubles in the country’s mining sector. The latest report was based on the theme “Money Talks’ and this newest edition “follows the money”. The report provides positive news about the country in light of the recent reports by President Maufuli, who has taken a hard stance to discarding corruption in Tanzania.

.... Read more »

Posted on : Monday , 25th September 2017



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