N e w s

Tanzania: Central Bank Slashes Rates, Gives New Hope for Credit Supply

Dar es Salaam — There is hope for possible improvement in credit to the private sector after the Bank of Tanzania (BoT) slashed the discount rate by four percentage points effective from today.   The central bank said it reviewed downward the discount rate - the interest rate at which it charges for lending to other banks - from 16 per cent to 12 per cent starting today and experts said the move could lead to reduced lending rates.... Read more »

Posted on : Tuesday , 7th March 2017

Kenya: Donkey Meat Legal But Only Exported to China

Did you know that donkey meat has been legalised and certified for human consumption in Kenya?   Well, the Meat Control (amendment) Act 2012 documented donkey alongside horse as a food animal in Kenya.   While butcheries have not been licensed to sell donkey meat, interested parties and owners of abattoirs can seek licences at the relevant veterinary offices to slaughter and sell the meat outside the country.   According to.... Read more »

Posted on : Tuesday , 7th March 2017

Rwandan Products Well Received at Singapore International Expo

Rwandan products; coffee and tea featured at the just concluded 2017 International Coffee and Tea Expo that was staged in Singapore between March 2 and 4   According to a statement from the Rwandan High Commission in Singapore, the expo was held alongside the Sweets and Bakes Expo 2017 in which honey produced in Rwanda was showcased.   "In a booth managed by the High Commission, a variety of Rwandan coffee and tea were.... Read more »

Posted on : Tuesday , 7th March 2017

East Africa: Construction of $600 Million Transnational Highway to Begin Soon

Study for the proposed multinational highway which will link the East African Coastline treading Kenya and Tanzania from Mombasa to Bagamoyo, has been completed.   East African Community (EAC) is finalising plans for the transnational highway, which measures 450 kilometre-long, and expected to cost 600 million US dollars (over 1.2tri/-).   The highway moves from Malindi, through Mombasa and Lunga Lunga on the Kenyan side, before.... Read more »

Posted on : Tuesday , 7th March 2017

Kenya: $146 Million Allotted for Malindi Airport Expansion Works

Malindi Airport will get an allotment of US $ 146 million in the 2017/2018 fiscal year to execute the current expansion works of the facility to global Standards, parliamentary committee on transport and housing said last week.   The parliamentary committee said the airport received US$ 4.2 million in this fiscal year which ends in June.   Kenya Airports Authority has estimated the grand expansion plans of the airport shall cost a.... Read more »

Posted on : Tuesday , 7th March 2017

Kenya: Fintech - the Future of Banking Services is Digital

East Africa's financial sector is on the brink of yet another sweeping revolution that will define the playing field in the next decades to come: financial technology.   Fintech, as it is increasingly being referred to is taking the industry by storm, causing a major disruption becoming a trailblazer and redefining the financial sector in the region and globally.   In this day of fast paced technological innovations, disruption is.... Read more »

Posted on : Monday , 6th March 2017

Kenya: Boeing Opens Nairobi Office, Looks to Gain Foothold in East Africa

US-based aerospace and defence company Boeing International is set to open a Nairobi office as it seeks to tap new Africa deals.   Boeing, which has been weighing options of opening an office either in Kenya or Ethiopia to gain a foothold in the eastern Africa market, will also open another office in Johannesburg, South Africa.   Chamsou Andjorin, the Boeing director of government affairs and market development, will head the.... Read more »

Posted on : Monday , 6th March 2017

Kenya: President Appeals to Doctors to End Strike

Nairobi — President Uhuru Kenyatta has once again appealed to doctors to consider the plight of Kenyans and return to work as a solution is sought for their grievances.   Speaking during a tour of Kiambu County on Saturday, the Head of State said that Kenyans were suffering and doctors should recognise this fact.   He emphasised the need for them to put patriotism first before striving for their interests.   "In.... Read more »

Posted on : Monday , 6th March 2017

Ethiopia: Oromia State to Initiate Industrialization Based Economic Revolution

Oromia set to initiate a state wide economic revolution to fundamentally overhaul its economy through research based public-private partnership investment strategy aiming at ensuring economic justice among Oromo people.   State Communication Bureau Head Addisu Arega said the initiative would encourage domestic investment which in turn benefits the youth and farmers together with Foreign Direct Investment.   According to Addisu, the.... Read more »

Posted on : Monday , 6th March 2017

Tanzania Aims to Triple Power Generation Output by 2020

Tanzania hopes to triple its power generation output by 2020, and boost access to the national grid.   Under the plan, the government hopes to increase output to 4,915MW from 1,501MW currently, and boost electricity connections to 60 per cent of the country's population of about 51 million people, from 36 per cent currently.   The plan will cost $11.6 billion in the short term and will be funded 70 per cent by debt, with government.... Read more »

Posted on : Saturday , 4th March 2017

East Africa Taking Considerable Steps to Boost Energy Access - World Bank Report

East African countries are emerging among leaders on the continent when it comes to putting in place policies on access to energy, energy efficiency and investment in renewable sources.   According to a new World Bank report, Kenya, Tanzania and Uganda -- unlike many countries in sub-Saharan Africa -- are taking progressive measures which include: A dedicated budget for electrification, capital subsidies for utilities to provide.... Read more »

Posted on : Saturday , 4th March 2017

Africa: China Committed to Stronger Ties With African Nations

Beijing — A Chinese Diplomat has recalled the vital role African countries played in ensuring that the People's Republic of China regained its status at the United Nations, while calling on African journalists to help strengthen the ties between Africa and China.   Alpha Daffae Senkpeni, This email address is being protected from spambots. You need JavaScript enabled to view it.   Li Zhaoxing, President of China Public.... Read more »

Posted on : Saturday , 4th March 2017



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