Market News Page No. 199| Africa Business News | Afrotrade

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Norway to give Tanzania $10.5m grant as budget support

The government of Norway will give Tanzania a grant of $10.5 million as budget support to boost the countries revenue over the next three years.Norway Foreign Minister Borge Brende announced this on Saturday in Dar es Salaam, when he met with Tanzanian Finance and Planning Minister Philip Mpango. Norway was impressed by President John Magufuli’s drive to end corruption and increase domestic revenues, Brende.... Read more »

Posted on : Tuesday , 18th July 2017

Vice President of Tanzania to meet gas, oil investors

Vice President of the Tanzania Samia Suluhu Hassan will meet investors in the upcoming Tanzania Oil & Gas Congress in September. In a formal announcement, Hassan extended his support and participation in the upcoming event which will be organised by the CWC Group. The Congress will gather senior representatives from the Tanzanian oil and gas industry including Governments, international oil companies, indigenous.... Read more »

Posted on : Tuesday , 18th July 2017

Ashok Leyland wins Rs 1140 cr order from Tanzania government

Indian commercial vehicle manufacturer Ashok Leyland has won USD 170 million (Rs 1,140 crore) order from the Government of the United Republic of Tanzania for the purchase of vehicles, gensets, spares and equipment for development of workshops, training modules and allied equipment to be fitted on ambulances, informed the company in a Bombay Stock Exchange (BSE) filing. Vinod K Dasari, Managing Director, Ashok Leyland said,.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania: Japan to Help Establish Car Factories

JAPAN, the country commanding the largest share of motor vehicles populating the entire globe, is committing itself to assist Tanzania and the other East African Countries to start manufacturing cars locally. The Deputy Head of Japan International Cooperation Agency (JICA) in Tanzania, Mr Kuniaki Amatsu, reaffirmed his country's commitment to support the East African Community's integration process but especially in the area of.... Read more »

Posted on : Tuesday , 18th July 2017

Peak Resources: Magnet metal rare earths in Tanzania

Since listing onto the Australian stock exchange back in 2006, Peak Resources Ltd has come a long way. Whilst exploring for phosphate minerals in East Africa, the company discovered rare earth minerals, creating a significant buzz across the mining industry that led to the establishment of its flagship Ngualla Project. Managing Director Darren Townsend explains how the company has taken the project, located in southern Tanzania, from.... Read more »

Posted on : Tuesday , 18th July 2017

South Africa: SA to Explore Business Prospects in Kenya, Tanzania

The Department of Trade and Industry (dti) will lead an Outward Selling and Investment Mission to Kenya and Tanzania with the aim of increasing trade and investment between South Africa and the two countries. A total of 27 local companies in the agro-processing, automotive, infrastructure, built environment, mining and capital equipment, chemicals, plastics and cosmetics sectors will be part of the mission that will get underway.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania orders a new Boeing 787-8 Dreamliner to expand international flights

The government of Tanzania is buying a new Boeing Dreamliner 787 for its national airline, bolstering the Chicago jet manufacturer's year-end order book. The sale follows private meetings that Jim Deboo, Africa region sales and marketing director for Boeing (NYSE: BA), held with Tanzania President John Magufuli during a visit last week. A $10 million down payment has already been made on the 787-8 Dreamliner, whose list.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania: Dar's Electricity Access Doubles

NATIONWIDE access to electricity has more than doubled, from less than 30 per cent to 67.3 per cent during the past decade, Energy and Minerals Minister Sospeter Muhongo has said. Prof Muhongo revealed further that access to power in rural areas increased from just two per cent in 2007 to 47.5 per cent today, noting that 97.3 per cent of urban folks have been connected to electricity. "At 97.3 per cent access in.... Read more »

Posted on : Tuesday , 18th July 2017

Koyo to open PV panel factory in Tanzania

The Japanese company has revealed that it is setting up a subsidiary in the East African country, with plans for a solar panel assembly plant. It will officially open the subsidiary, Koyo Bussan Tanzania, in Dar es Salaam this week, according to an online statement. It did not reveal additional details about the PV module plant, but said that it is interested in the commercial and residential solar sectors. The.... Read more »

Posted on : Tuesday , 18th July 2017

Tanzania: Lighting Rural Villages - Solar Power Is a Game Changer in Rorya

Residents of Manila village in Rorya District, Mara Region have opened a new chapter in their neighbourhood. They no longer have to bear the brunt of 'living in the dark' after a new solar power named Firefly came to their rescue. About 500 residents in a village located about 10 km from Lake Victoria can now conduct their activities comfortably, thanks to an American Engineering Group Limited (AEG) and Mashaka Foundation for.... Read more »

Posted on : Tuesday , 18th July 2017

80MW Power Station to Light Rwanda, Burundi and Tanzania

Two Chinese firms and an Austrian engineering company are expected one week from now to sign a contract with Rusumo Power Company paving way for construction of the $340 million power generation facility starting early 2017. The three firms have been selected to build the 80MW Rusumo hydro-power station that is being jointly developed by Rwanda, Tanzania and Burundi where each of the three countries will receive 26.6MW of.... Read more »

Posted on : Tuesday , 18th July 2017

Solar Energy Is Lighting Up Women�s Businesses in Africa

Elizabeth Julius worked sunrise to sunset to make ends meet as a seamstress. Supporting her husband and two kids in a village in Tanzania, Julius was forced to put down her needle and thread each day once darkness fell. That all changed three years ago when she was introduced to Energy 4 Impact, a London-based organization that works in Africa to ensure energy access and foster entrepreneurship for impoverished.... Read more »

Posted on : Tuesday , 18th July 2017

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