N e w s

East Africa: USAID to Monitor EAC Grant More Closely

Arusha — The United States Agency for Development (USAID) has met with officials of the East African Community (EAC) Secretariat to operationalize the five-year Regional Development Objectives Grant Agreement (RDOAG) they received last year.   "RDOAG provides for changes in the way USAID will do its business; strengthen USAID-EAC Partnership; stronger collaboration, coordination and communication, and institutional.... Read more »

Posted on : Wednesday , 8th February 2017

Ethiopia: New Three Wheeler Assembly Plant to Start Production Within 2 Months

A three-wheeler assembly plant owned by Redawa Motors Industry PLC and located in Dire Dawa City, Ethiopia, is scheduled to start production in two month's time. The assembly line is located in Dire Dawa’s Industrial Village.   The construction of the assembly plant had started two years ago and was built at a cost of over 1.7 billion Birr.   According to the company’s General Manager, Engineer Tadesse Admasie, the.... Read more »

Posted on : Wednesday , 8th February 2017

Rwanda: New Taxpayers Responsible for Increased Revenue Collection

Rwanda's total revenue collections, excluding local government tax and fees, increased to Rwf514 billion in the first semester of 2016/2017 fiscal year compared to Rwf470.6 billion collected during the same period last year.   However, the figure falls short of the set target of Rwf516.5 billion and represents 99.7 per cent of performance level.   According to the Rwanda Revenue Authority (RRA), collections from local government.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: TANESCO to Spend $500,000 to Electrify Moro Suburbs

Dodoma — Tanzania Electric Supply Company (TANESCO) will spend over 1bn/- to implement a power project planned to nearly 900 new customers in Morogoro.   The Mindu power project involves construction of a 8.9-km long transmission line with 33kV, a 35.4-km long 400kV power line and fixing seven transformers.   This was disclosed yesterday by Energy and Minerals Deputy Minister Dr Medard Kalemani. The project, he said, is set.... Read more »

Posted on : Wednesday , 8th February 2017

Africa: What is limiting Africa's Resurgent Mining Sector?

Kampala — For the first time in years, there is a mood of cautious optimism in the mining industry, with commodity prices on the rise, shallow growth returning to different end markets, and most mining companies in better cost positions than in the recent past.   However, the industry is still at a pivotal point as it faces challenges from cybersecurity threats, to technological disruption and environmental issues.   Mining.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: President Urges Defense Forces to Procure Local, Boost Industries & Economy

Defence and security organs were yesterday told to embrace the government championed industrial economy, through setting up of factories to add value to locally produced raw materials.   "Why should we import uniforms for members of the armed forces and yet we produce cotton in large quantities? Even if it means producing garments from locally available sisal, let it be so," President John Magufuli ordered in Dar es Salaam.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: TAZARA Secures New Haulage Orders of Over 165,000 Tonnes

Dar es Salaam — The Tanzania-Zambia Railway Authority (TAZARA) has secured new orders to transport at least 165,000 tonnes of freight for various companies on the Copperbelt Province of Zambia this year following a renewed confidence to the hauler.   A statement issued by the company's Dar es Salaam office indicates that the freight orders follow TAZARA Managing Director's visitations to various shippers and logistics companies in.... Read more »

Posted on : Wednesday , 8th February 2017

East Africa: Dar es Salaam Port has Potential to Turn Tanzania Into A Trade Hub

Dar es Salaam — Tanzania should open up its Dar es Salaam port to trudge cargo volume, expand and build new transport links to make Tanzania a regional hub while turning the country as Dubai of East Africa, the East African Business Week can report.   "The Dar es Salaam port is an engine for economic growth, if we invest in logistic centers, improve on infrastructure and create a facilitative environment, we can easily turn Dar.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Chinese Mega Investors to Invest in Special Economic Zone

Dar es Salaam — Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries.   "Massive investments will come from large scale Chinese investors eyeing to invest in those sectors to boost the country's financial income through Direct.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Chinese Mega Investors to Invest in Special Economic Zone

Dar es Salaam — Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries.   "Massive investments will come from large scale Chinese investors eyeing to invest in those sectors to boost the country's financial income through Direct.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Chinese Mega Investors to Invest in Special Economic Zone

Dar es Salaam — Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries.   "Massive investments will come from large scale Chinese investors eyeing to invest in those sectors to boost the country's financial income through Direct.... Read more »

Posted on : Wednesday , 8th February 2017

Kenya: France Overtakes Japan to Become Kenya's Second-Largest Bilateral Creditor

Nairobi — France has overtaken Japan as Kenya's second-largest bilateral creditor accounting for 2 percent of external debt.   France has extended credit in the form of concessional Treasury loans and credit-export guarantee to a tune of Sh78 billion.   French Minister for the Economy and Finance Michael Sapin said France will continue its increased focus on supporting the private sector through the financing of the banking.... Read more »

Posted on : Wednesday , 8th February 2017



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