Market News Page No. 173| Africa Business News

Magufuli Takes a Stand against Illegal Mining with Latest Reforms

The latest squabble between the Tanzanian government and its mining sector has led President Magufuli to request the central bank to purchase precious stones, in an attempt to boost the nation’s reserves. This is the latest in the escalating row between the two, over alleged tax evasion from the mining sector. The president released a statement saying, “All the minerals will be controlled and will pass through one gate.... Read more »

Posted on : Friday , 29th September 2017

17 Storey Construction Set To Resume After Legal Hassles

The National Building Inspectorate (NBI) has given the green light to developers to resume the construction a Nairobi building. The 17 storey building was set for demolition until recently, and this latest news will come as music to the ears of investors. The project was stopped back in December 2016 due to a series of issues regarding non-compliance with the NCA and the Nairobi City County Government (NCCG). The.... Read more »

Posted on : Thursday , 28th September 2017

BaraBara Project to Simplify Construction in Kenya

The Kenyan construction industry has experienced rapid growth over the last ten years. The sector recorded an impressive growth rate of 9.2 per cent in 2016, according to the Economic Survey Report 2017. These statistics have been credited to an increase in investments in road construction and housing development. It is no co-incidence that this rise in investment has come at a time that he employment rate to risen markedly..... Read more »

Posted on : Thursday , 28th September 2017

Mbaka and Lufilo Bridges Almost Complete

The Government have spent an estimated US$ 25.4 million on the construction of the ne Mbaka and Lufilo bridges. The bridges will act as a link between the village of Kikusya and the Matema Road in the Kyela district. Project Engineer, Samuel Joel recently provident an update on the construction, saying that, the project was 98 per cent completes. The tender was awarded to China International Engineering Company Ltd by the Tanzania Road.... Read more »

Posted on : Wednesday , 27th September 2017

Mining Ban In Tanzania Is Finally Paying Off

There has been positive news from the Buzwagi Processing Trial. It was revealed that the mine wil be able to recover approximately 85 per cent of gold recoveries through the use of reagents at minimal secondary costs. An extra 8000-10000 ounces of gold will now be available for sale for the remainder of the year, from the additional gold bars now accessible for extraction. Buzwagi’s original plan was to put an end.... Read more »

Posted on : Tuesday , 26th September 2017

$100 million Mining Deal Agreed in Rwanda

USA based Symbion Energy and Germany based Higland Group Holdings Ltd. (HGHL) have signed a $100 million deal to collaborate on a project to extract Methane from Lake Kivu in Rwanda. Symbion CEO, Paul Hinks said that the two designs in place for a $370 million project to generate as much as 106 megawats of Methane gas from the lake. Lake Kivu has an estimated reserve of 55 billion cubic meters of methane gas occurring.... Read more »

Posted on : Tuesday , 26th September 2017

Ambitious Kigamboni project now underway in Dar-es-Salaam

An Automotive Dealer based in Dar-es-Salaam has agreed to move all their showrooms from different parts of the city to a new common ground, Kigamboni. Kigamboni is expected to be the new hub of Automobile showrooms in the city. This was all done on the request of regional commissioner Mr. Paul Makonda. However, the local car dealers remain anxious about the completion pf this new undertaking by the city and have asked for a more speedy.... Read more »

Posted on : Thursday , 28th September 2017

Tanzania among Top Ten Investment Destinations in Africa

Tanzania remains one of top 10 countries to invest in from Africa, according to ‘Where to invest in Africa’ despite recent troubles in the country’s mining sector. The latest report was based on the theme “Money Talks’ and this newest edition “follows the money”. The report provides positive news about the country in light of the recent reports by President Maufuli, who has taken a hard stance to.... Read more »

Posted on : Monday , 25th September 2017

New Labs in Kenya To Check On Quality Of Pharmacy Products

A specialized laboratory has been set up to keep a check on the quality and safety of pharmaceutical products already approved for sale with the country. The lab is expected cost up to the tune of Sh300 million. This newest established has been set up to make sure that all pharmaceutical products sold in the country conform to the requirements mandated by the Pharmacy and Poisons Board (PPB). Speaking about this new.... Read more »

Posted on : Saturday , 23rd September 2017

Norwegian energy sector eye investments in Rwanda

10 companies from the Norwegian energy sector were hosted by the Rwanda-Norway Energy Forum last week. Rwanda’s energy continues to have tremendous potential for future growth as only 35 per cent of the country has access to electricity. The goal is to convert that number to 70 percent by 2018 and 100 per cent by 2024 according to the Rwanda Energy Group (REG) The Rwandan Government also have a vested interest in.... Read more »

Posted on : Friday , 22nd September 2017

Kigali Heights Scoop Awards At Africa Property Investment Awards 2017

Kigali Heights and Garden City were among winners at the Africa Property Investment Awards 2017 in Johannesburg. Property developers, owners and suppliers got the opportunity to showcase their best projects and services from across sub-Saharan Africa at the Africa Property Investment (API) Awards. The API Summit and Expo 2017 aimed to recognize excellence and innovation in the property industry. The winning projects came.... Read more »

Posted on : Friday , 22nd September 2017

Rwandan Packaging Industry Look To Expand Into Kenya

Rwanda could soon see a spike in import and export packaging as a local packaging manufacturer is looking to expand into the Kenyan market. The Polythene Materials Control Bill was introduced in 2011 by the East African Community, which was signed by countries like Uganda, Kenya and Tanzania. However, these countries have not implemented the bill to full satisfaction citing that their polythene industries are still in the stage of.... Read more »

Posted on : Friday , 22nd September 2017