Market News Page No. 190| Africa Business News | Afrotrade

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Tanzania: Special Report - Teak Tree Farming Lucrative, but One Should Be Patient

In this interview The Citizen Correspondent Patrick Kisembo speaks with one of the investors, Hans Lemm, the general manager of Kilombero Valley Teak Company, or KVTC in short,on challenges and opportunities of tree farming. Thousands of farmers in Kilombero, Ulanga and Malinyi districts in Morogoro Region earn their living growing trees, the business that has also attracted foreign investors who work close with farmers in fulfilling the.... Read more »

Posted on : Tuesday , 18th July 2017

Dome-shaped tents in Tanzania keep visitors warm at 10,000 feet above sea level

This low-impact camp in Tanzania is made up of eight domes that offer stunning views of Serengeti National Park. Asilia, an eco-tourism company offering exclusive, carbon-neutral camps and lodges across Africa, commissioned Caline Williams Wynn of design studio Artichoke to style the interiors of these geodesic igloos filled with furniture and objects inspired by vernacular design. The Highlands camp is located on the edge of the.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania to improve working conditions for small-scale miners

Tanzanian authorities, through a 3.7-million-U.S.-dollar loan from the World Bank, have embarked on a program to improve working conditions for small-scale miners, a senior official said Thursday. Alex Rutagwelela, acting director of exploration and drilling with State Mining Corporation (STAMICO), said the program will address challenges facing small-scale miners, including poor mining methods. "The government.... Read more »

Posted on : Tuesday , 18th July 2017

Kibo unaffected by Tanzania mining legislation changes

JOHANNESBURG (miningweekly.com) – Tanzania-focused mineral exploration and development company Kibo Mining’s Mbeya coal-to-power-project (MCPP) will not experience any adverse developmental impacts owing to recent changes in Tanzania’s legislative mining environment. Reuters reported that Tanzania’s Parliament had passed two laws allowing government to force mining and energy companies to renegotiate their.... Read more »

Posted on : Tuesday , 18th July 2017

Acacia accepts 50% lift in royalty as Tanzania turns the screw

ACACIA Mining will comply with part of newly enacted legislation in Tanzania which increases revenue-based royalties to 6% from the previous levy of 4%. The UK-listed gold producer said in an announcement today that the decision to pay the higher royalty, which is applicable on gold, copper and silver exports, was to “minimise further disruptions to our operations”. “Acacia notes the publication of.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania: Magufuli's Mining Reforms Are a Masterclass in Political Manoeuvring

Whether his moves in the mining sector work or not, President Magufuli knows what he is doing. Ever since his election in 2015, Tanzania's President John Magufuli has been a subject of public fascination. At first, his war on graft promised to cleanse the state of corruption, while his patriotic thrift inspired the hashtag #WhatWouldMagufuliDo? But as this campaign of tumbua majipu ("lance the boils") was.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania: Sh16bn Given for Building 3 Plants

Dar es Salaam. LAPF Pensions Fund in the 2017/18 financial year has set aside Sh16 billion for the construction of three factories in Musoma, Kilimanjaro and Morogoro regions. According to LAPF, its board of trustees has already approved the budget. In addition to that over 30,000 people will get direct or indirect employment opportunities. Speaking at the 41st Dar es Salaam International Trade Fair (DITF) at LAPF.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania: How Tanzania Will Benefit From Sh926bn Port Project

The Dar es Salaam Maritime Gateway Project (DSMGP) launched by President John Magufuli yesterday is expected to boost the economy by significantly increasing Dar es Salaam Port's capacity. The project is expected to enhance trade, both locally and within the East African Community (EAC) and South African Development Community (SADC) regions. The $421 million (Sh926.2 billion) project will entail, among other activities,.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania receives $51m for Tabora road construction

Tanzania has received $51m (over 110bn/-) financial boost from Kuwait for construction of the 85-kilometre Chaya-Nyahua road in Tabora region. President John Magufuli met the ambassador of Kuwait in Dar es Salaam, Jasem Ibrahim Al Najem, and through him thanked the Kuwait government for the support, saying the new road will connect communication infrastructure between Singida and Tabora regions. The envoy further handed.... Read more »

Posted on : Tuesday , 18th July 2017

East Africa: Tanzania Starts Construction of Railway Line Link to Uganda

Tanzania has started building the 300km Standard Gauge Railway (SGR) from the Indian Ocean port of Dar es Salaam to Morogoro, which line is expected to be extended to Port Mwanza on Lake Victoria to link Uganda. This development will put the spotlight on plans which should have seen Uganda either renovating the run-down Port Bell in Luzira or starting work on the proposed Greenfield Bukasa Port in Kirinya, Wakiso.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania plans hydropower dam on UNESCO Heritage Site

Tanzania is planning to build a hydropower dam on a UNESCO World Heritage Site, raising concerns over the potential impact on local wildlife. President John Magufuli confirmed the plan, which is designed to improve the reach of Tanzania’s power supply, during the first leg of his tour of the Coast Region. The new dam will be built in Selous Game Reserve, a UNESCO World Heritage Site since 1982. Questions raised over.... Read more »

Posted on : Tuesday , 18th July 2017

Africa shows rising interest in green building design

The UNEP Sustainable Buildings and Climate Initiative attributed 30% of annual carbon emissions to the global building sector. In response to this and the commitments made by numerous states to reduce their carbon emissions in line with the Paris accord, green building design has become integral in the design and construction of buildings in many parts of the world, as well as in Africa. Over the last six years – in.... Read more »

Posted on : Tuesday , 18th July 2017

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