Market News Page No. 347| Africa Business News

East Africa: Rift Valley Railway to Change Face of Transport in East Africa

The misleading reporting that has recently appeared in the press regarding Qalaa Holdings and its investment in Rift Valley Railways (RVR) has compelled us to respond to the blatant inaccuracies and to clarify any misunderstanding that may have occurred as a result of these false accusations. We clearly and unequivocally state that Qalaa Holdings is committed to adhering to the highest international business standards and to ensuring.... Read more »

Posted on : Thursday , 14th July 2016

Tanzania: Sh1.7 Trillion Foreign Boost for Green Energy Initiative

Dar es Salaam — Tanzania's newly launched renewable energy initiative has received a Sh1.7 trillion boost in pledges from foreign donors. Energy minister, Prof Sospeter Muhongo, said at the launch of the initiative yesterday that such pledges from foreign sources complement the government budget of Sh1.2 trillion for rural electrification projects countrywide. The donors are the European Union which pledged 108 million.... Read more »

Posted on : Wednesday , 13th July 2016

Tanzania: SE4ALL Initiative to Give New Boost to Energy Sector

The energy sector got yet another boost yesterday as the country launched its action agenda and investment prospectus for Sustainable Energy for All (SE4ALL) initiative by 2030. The inauguration of the document means that Tanzania has now shown more commitment to the global initiative, SE4ALL, which is the brainchild of the United Nations (UN). The SE4ALL is led by the UN Secretary-General Ban Kimoon, the aim being to achieve.... Read more »

Posted on : Wednesday , 13th July 2016

Tanzania: India Pledges Additional Funding to Support Priority Sectors

Indian Prime Minister Narendra Modi has said his country is willing to provide additional funding to the tune of over 1 trillion/- to support priority sectors in Tanzania. Police have warned that people who intend to disrupt the Special CCM National Congress planned for Dodoma late this month would face punitive action. Indian Prime Minister Narendra Modi ended his two-day visit in the country yesterday afternoon amid hopes of.... Read more »

Posted on : Tuesday , 12th July 2016

Kenya to Start Making ARVs With Help From India

Kenya will start manufacturing pharmaceuticals like ARVs following a pact with India in a move that will address rising concerns of affordability and supplies. Visiting Indian Prime minister Narendra Modi also said the Asian nation will donate equipment to Kenyan public hospitals. "This will make Kenya the regional medical hub" he said. India is renowned for a relatively well developed healthcare system with thousands.... Read more »

Posted on : Tuesday , 12th July 2016

Tanzania: Energy, Water Sectors Attract Australian Investors

Dar es Salaam — Tanzanians should expect tremendous improvement in the water and energy sectors as a number of Australian investors have expressed their intension to venture into the two areas, a senior Australian official has pledged. The country's vice minister of Federal Ministry of Science, Research and Economy, Ms Bernadette Mariane Gierlinger, revealed Thursday her country had stepped up efforts to increase business with.... Read more »

Posted on : Tuesday , 12th July 2016

Tanzania: Upper Ruvu Water Plant Expansion Complete

Kibaha — A multi-billion project for expansion of the Upper Ruvu Water Treatment Plant to cater for the need of the precious liquid in the city of Dar es Salaam is complete. The completion of the project would now see the plant produce 196 million litres of water per day up from only 82 million litres produced previously. Minister for Water and Irrigation, Eng Gerson Lwenge, said with the completion of the project, a.... Read more »

Posted on : Tuesday , 12th July 2016

Tanzania: Ewura to Take Steps to Tighten Petroleum Gas Purchases

Dar es Salaam — The Petroleum Bulk Procurement Agency (PBPA) will start to procure Liquefied Petroleum Gas (LPG) from September, the Energy and Water Utilities Regulatory Authority (Ewura) confirmed yesterday. The procedure is intended to maintain the quality of imported LPG by various companies. Ewura communication manager Mr Titus Kaguo said the move was also intended to control the commodity's price. He explained,.... Read more »

Posted on : Monday , 11th July 2016

Kenya: Sh17 Million Banana Factory Set to Open

A Sh17 million banana processing plant is ready for take-off in Khwisero. The project has received Sh10 million from the National Government Affirmative Action kitty and Sh7.4 million from the Special Programmes Department. To boost supply of bananas for the factory, the county government distributed 18,000 tissue culture seedlings in the 12 sub-counties. County Woman Rep Rachael Ameso said the plant is expected to.... Read more »

Posted on : Monday , 11th July 2016

Tanzania: Govt to Revive Stamico to Boost Mining Sector

As part of strategies to enhance the contribution of the mining sector in the economy, the government plans to perk-up the State Mining Corporation (Stamico) to enable it venture into strategic mining projects. The mining sector contribution to the Gross Domestic Product (GDP) is just 3.5 per cent much as it provides other benefits to the economy, such as employment and business to local suppliers in areas surrounding the.... Read more »

Posted on : Monday , 11th July 2016

Construction of Uganda - Tanzania Oil Pipeline to Start in January

Construction of the Uganda-Tanzania crude oil export pipeline is planned to start in January next year, Uganda's Energy minister Irene Muloni has said. Ms Muloni, who led the Ugandan team that held closed door discussions with the Tanzanian delegation in Hoima Town on Tuesday, told the media that the two countries had agreed to fast-track the project which will cover 1,443 kilometres. The construction of the pipeline, meant to.... Read more »

Posted on : Monday , 11th July 2016

Tanzania: Govt Set to Introduce New System On Bulk Purchase of Gas

The government plans to introduce a bulk supply system in the gas come September. Energy and Water Utilities Regulatory Authority (Ewura) officials said on Wednesday that the move aims at reducing business costs and power tariffs for consumers, increase government revenue and control the gas sector more efficiently. Ewura petroleum department director Samuel Godwin speaking at a one-day workshop for stakeholders in the petroleum.... Read more »

Posted on : Friday , 8th July 2016