Market News Page No. 351| Africa Business News

Tanzania: World Bank Approves Sh440 Billion for Rural Electrification

Morogoro — The World Bank yesterday approved a $200 million (about Sh440 billion) loan to boost connection of more Tanzanian rural households to electricity. The World Bank board of executive directors approved the financing for the Rural Electrification Expansion Programme from the International Development Association (IDA). The new financing is a big boost to the project that is expected to bring about 2.5 million households in.... Read more »

Posted on : Friday , 24th June 2016

Tanzania: NMB to Provide Sh60 Billion Loans for Agriculture Sector

Dar es Salaam — Tanzania's vision of becoming a middle income country by 2025 through agriculture-led industrialisation will receive a boost as the National Microfinance Bank (NMB) announced to set Sh60 billion for developing agribusiness in the next five years. Agriculture employs about 70 per cent of the Tanzanian workforce contributes about 27 per cent to the gross domestic product. It also accounts for 85 per cent of.... Read more »

Posted on : Friday , 24th June 2016

Future of Oil & Gas in Tanzania is Bright - EWURA Chairman

"The future of the oil and gas industry in Tanzania is bright." This was said recently by Prof Jamidu Katima, Chairman of the Energy and Water Utilities Regulatory Authority (EWURA). Our Correspondent SAIDI MKABAKULI adeptly analyses the role of a regulator in natural gas activities that include processing, transportation, storage and distribution of natural gas in Mainland Tanzania. WHEN delivering a keynote address at the.... Read more »

Posted on : Thursday , 23rd June 2016

Tanzania: Govt Plans to Replace Diesel Pump With Solar Power

Dodoma — Deputy Minister for Water and Irrigation, Mr Isack Kamwelwe, said the government plans to change the diesel-run water pump to use solar power in a bid to reduce costs. He said this when answering a basic question by Mr Mashimba Ndaki (Maswa West - CCM), who wanted to know the initiatives taken by the government to renovate infrastructure of Mwamihanza water dam. He said the move is aimed at making the dam.... Read more »

Posted on : Thursday , 23rd June 2016

Tanzania Committed to Promote Agriculture - Minister

The government is committed to sort out problem in the agricultural sector so as it unleashes its great potential in building the economy, a government minister has said. The Deputy Minister for Agriculture, Livestock and Fisheries Development, Mr William Ole Nasha, said in Karatu District, Arusha Region that the government was focused to promote growth of agricultural sector and solve problems that hinder growth of the.... Read more »

Posted on : Thursday , 23rd June 2016

Tanzania: Construction of TZS 19 Billion Road Underway

Dodoma — Deputy Minister for Works, Transport and Communications, Eng Edwin Ngonyani, has said the construction of 109.4 kilometres at a tarmac level of Njombe-Ndulamo-Makete road will start this financial year. He was responding to a main question by Lucy Mlowe (Special Seats - CCM), who wanted to know when the construction of Njombe-Makete road at tarmac level will undertaken. He said that his ministry through the Tanzania Roads.... Read more »

Posted on : Thursday , 23rd June 2016

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