Market News

The private sector in Tanzania has a received a US$185m grant from the World Bank. The funds were released by the Multilateral Investment Guarantee Agency (MIGA).   The aim of the funds is to help in projects in infrastructure, mining and energy sectors. MIGA Vice President and Chief Operatin . . .

 A total of USD 48.24 will be used in the first phase construction of houses in Tanzania to provide shelter for public servants. The real estate project will be funded by the government of Tanzania. The construction of the houses will be done in collaboration with a real estate developer, Watu . . .

 Growing volumes of cargo at all African ports has forced port authorities and operators to increase capacity, analyse operations to increase efficiency, and employ measures to allow bigger ships into their ports. The East Africa Region has various projects underway. The new Lamu Port in Kenya . . .

 Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.   Dubbed the Grand Ethiopi . . .

Hyatt Hotels Corporation has entered into a partnership with ASB (Tanzania) Limited that will see the later construct a new 300-room five star hotel. The new hotel will be called Hyatt Regency Hotel Arusha. The building permit was awarded to ASB on May 7th this year. Located at the hear . . .