Latest African business news, economy, corporate, markets updates

Kenya: France Overtakes Japan to Become Kenya's Second-Largest Bilateral Creditor

Nairobi — France has overtaken Japan as Kenya's second-largest bilateral creditor accounting for 2 percent of external debt.

France has extended credit in the form of concessional Treasury loans and credit-export guarantee to a tune of Sh78 billion.

French Minister for the Economy and Finance Michael Sapin said France will continue its increased focus on supporting the private sector through the financing of the banki.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Oil & Gas Firms Reject Local Content Obligations

Differences between Tanzania and oil companies over local content obligations contained in Petroleum Act 2015 have resurfaced with the government collecting stakeholders' views in efforts to enforce regulations.

The companies through their organisation, Oil and Gas Association of Tanzania (Ogat) last week told the Energy and Water Utilities Regulatory Authority (Ewura) that they are uncomfortable with the local content requirement in Tanzania and want a .... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Local Firms to Gain Huge Business from SGR Construction

Construction of the first 300-kilometre stretch of the standard gauge railway between Dar es Salaam and Morogoro begins from next month to mark the beginning of one of the major infrastructure projects under the second Five-Year Development Plan (2016/17- 2020/21).

State-owned Reli Assets Holding Company Ltd (RAHCO) signed an agreement with a joint venture of Turkish firm Yapi Merkezi and Portugal's Mota-Engil Engenharia e Construção &Aacut.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Joint Venture by Portuguese, Turkish Firms Wins SGR Construction Contract

A joint venture between a Turkish and a Portuguese firm has won a tender for construction of 205 kilometres of Tanzania's standard gauge railway, part of the 1,216km stretch that will eventually link Dar es Salaam with the rest of the country as well as with Rwanda and Burundi.

The project, to be constructed at a total cost of $1.215 billion, will be undertaken by Yapi Merkez Insaat Ve Sanayi (Turkey) and Mota-Engil, Engenharie and Construcao Africa, SA .... Read more »

Posted on : Wednesday , 8th February 2017

Kenya: France Joins Race to Build East Africa's First Nuclear Power Plant

France has joined the list of countries courting Kenya for a multi-billion-dollar deal to build East Africa's first nuclear power plant.

French Economy and Finance minister Michel Sapin said the nuclear-rich European country was looking to offer Kenya technical, engineering and financial support to develop reactors.

Kenya plans to start building its first nuclear plant from 2022 in a five-year period at a cost of about $5 b.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: School Students Manufacturing Robots under Korean Experts' Guidance

Robots, the programmable machines that can be dispatched to perform certain duties are currently being manufactured in Arusha on trial basis by students who work under supervision by technological experts from Korea.

A total of 30 students from Suye and Moshono secondary schools in Arusha City have already started the 'Robot Making' programme, in which each institution has fielded 15 students for the technology demanding task.

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