Market News Page No. 350| Africa Business News | Afrotrade

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Public-Private Sector Ventures Hold Key to Development of Africa's Mining Sector - AU Expert

Frank Mugyenyi is a senior advisor for the department of trade and industry at the African Union Commission (AUC), and the brain behind the new African mining treaty. Adopted in 2009, the main objective of the treaty is to strengthen co-operation and partnership between the public and private sectors to boost the mining industry on the continent. Mugyenyi was in Rwanda recently, and met local sector players to discuss how to boost the country's.... Read more »

Posted on : Wednesday , 22nd June 2016

Tanzania: Stock Exchange Proves It Has Potential to Boost Industrialisation

Tanzania has enough liquidity to facilitate industrialisation as manifested by recently Dar es Salaam Stock Exchange initial public offer which was oversubscribed by astonishing proportions. The oversubscription was expected since day one, but not at the said magnitude of almost five times or 377 per cent to rake in 35.77bn/- while the exchange earmarked to raise 8.25bn/-. The oversubscription has shown that the DSE can be used.... Read more »

Posted on : Wednesday , 22nd June 2016

Tanzania: Govt Plans to Revive Co-operative Sector

Karatu — The government intends to revive the ailing co-operative sector to enable it play a bigger role in economic empowerment of the farmers. This was announced at the weekend by the deputy minister for Agriculture, Livestock and Fisheries, Mr William Ole Nasha during the Farmers Day event for barley growers at Bashay village in Karatu district, Arusha region. He said the fifth phase government was keen to assist the.... Read more »

Posted on : Tuesday , 21st June 2016

Tanzania: Govt Looking for Additional Tobacco Market in China

Dodoma — Members of Parliament from tobacco growing areas have been assured that the government is working round the clock to look for markets of the cash crop worldwide, particularly in China, which is the largest buyer of tobacco. The assurance was made in the National Assembly by the newly-appointed Minister for Agriculture, Livestock and Fisheries, Dr Charles Tizeba, when responding to a basic question by Urambo MP, Ms.... Read more »

Posted on : Tuesday , 21st June 2016

Tanzania Inks Five-Year Plan with Canada for Capacity Building

Tanzania Private Sector Foundation (TPSF) signed a five year Partnership Action Plan (PAP) with Canadian Executive Services Organisation (CESO) for capacity building and creation of awareness to the Foundation and its members for better service delivery. Speaking to reporters in Dar es Salaam, TPSF Executive Director, Mr Godfrey Simbeye, said that the technical support provided by CESO would be one of the resources envisaged to enhance.... Read more »

Posted on : Tuesday , 21st June 2016

Tanzania: Firm to Start Refining Furnace Oil Locally

Bagamoyo — Tanzania industries will soon start procuring heavy oil locally as Kamal Group launched its Sh10-billion factory for refining the furnace oil. Kamal Group said during the weekend that its newly-launched heavy oil refinery in Zinga (Kerege) will help Tanzania to save $15 million in its foreign currency reserve which is currently spent on importing the product. The oil is one of the cheap fuels available for.... Read more »

Posted on : Tuesday , 21st June 2016

East Africa: Regional Centre Launched to Promote Renewable Energy

Arusha — The East African Centre for Renewable Energy and Energy Efficiency (EACREEE) will be hosted at the Makerere University's College of Engineering, Art, Design and Technology. Speaking at the launch last week, the EAC deputy secretary general (Productive and Social Sectors) Ms Jesca Eriyo said the main aim is to ensure availability of sufficient, reliable, cost effective and environmentally friendly energy.... Read more »

Posted on : Tuesday , 21st June 2016

Tanzania to Build it's Own Helicopters

Arusha — Tanzania has started to build its own helicopters in a project that will see the first batch of such choppers taking into the sky sometimes in 2018. Already, the prototype model, a two-seater aircraft is in its final stages of completion at the Mechanical and Engineering Department of the Arusha Technical College, which runs a fully-fledged factory producing various forms of machinery, including a prototype motor vehicle.... Read more »

Posted on : Tuesday , 21st June 2016

Tanzania, Netherlands Sign Pact to Boost Potato Production

Arusha — Potato growers in the country stand to benefit from a new agreement between Netherlands and Tanzania, targeting to help farmers in the country boost the tubers production as well as being provided with potential market outlets abroad. The Netherlands Minister for Agriculture; Mr Martijn Van Dam and the Tanzania Deputy Minister for Agriculture, Livestock and Fisheries William Ole Nasha, have just inked a special.... Read more »

Posted on : Saturday , 18th June 2016

Tanzania: Manufacturing Sector Among Most Successful in Africa

Tanzania is among five African economies whose manufacturing sector are key success stories in Africa after outpacing other countries, which started from similar baselines in 2000, according to the Institute of Chartered Accountants in England and Wales (ICAEW). ICAEW attributes the growth to various reasons, which vary from country to country, including improved infrastructure, a transparent regime to foreign investment, a more.... Read more »

Posted on : Saturday , 18th June 2016

Tanzania Has Huge Gas Deposits - Minister

Dodoma — With over 57 trillion cubic feet of gas, the government has boasted of a huge capacity that can accommodate serious investors in petrochemical manufacturing. Industry, Trade and Investment Minister Charles Mwijage told the National Assembly here that the government has already invited HELM AG for final negotiations over the project execution. The German firm intends to invest over two billion US dollars for the.... Read more »

Posted on : Friday , 17th June 2016

Tanzania: Multi-Billion Housing Project Launched by Saccos

Musoma — A Savings and Credit Cooperative Society (Saccos) has launched a four-year housing loan scheme for its members. Speaking during the launch on Tuesday, Imara Saccos manager Hildagadis Kinanda said the cooperative society had set aside Sh3.5 billion for the first phase of the project. According to Ms Kinanda, the houses would be built in three phases. At least 500 houses will be constructed in 2017 in the first.... Read more »

Posted on : Friday , 17th June 2016

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