Market News

The government and the World Bank yesterday signed a Memorandum of Understanding (MoU) in which the latter will provide 209 million USD (about 456bn/-) for the implementation of six-year Rural Electrification Expansion Programme. The six-year project will also be financed by other Development Par . . .

The African Water Facility (AWF), a multilateral fund hosted by the African Development Bank (AfDB), will finance a $2-million grant to help the government of Tanzania launch a pre-feasibility study for the multipurpose Kikonge dam, irrigation and hydropower project, expected to boost hydropower gen . . .

The African Development Bank (AfDB) said the grant being made available to Tanzania’s government is in principle to study the potential for building a 300-megawatt hydro generating facility on the river Ruhuhu in Kikonge, in the southwest of the country.     If developed, the faci . . .

Tanzania plans to spend $3.21 billion over the next five years to connect about one million rural households to electricity, a senior government official has said.   East Africa's second-biggest economy wants to use some of its natural gas reserves to end power shortages and boost industrial . . .

The Tanzania Rural Energy Agency (REA) recently announced the beginning of implementation of the Rural Electrification Program Phase III. In its 3rd phase, the project aims to electrify more than 7,873 villages in rural Tanzania over the next 5 years. 7,697 villages will be connected to the nation . . .