Market News Page No. 208| Africa Business News | Afrotrade

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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

Tanzania: Oil & Gas Firms Reject Local Content Obligations

Differences between Tanzania and oil companies over local content obligations contained in Petroleum Act 2015 have resurfaced with the government collecting stakeholders' views in efforts to enforce regulations. The companies through their organisation, Oil and Gas Association of Tanzania (Ogat) last week told the Energy and Water Utilities Regulatory Authority (Ewura) that they are uncomfortable with the local content requirement in.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Local Firms to Gain Huge Business from SGR Construction

Construction of the first 300-kilometre stretch of the standard gauge railway between Dar es Salaam and Morogoro begins from next month to mark the beginning of one of the major infrastructure projects under the second Five-Year Development Plan (2016/17- 2020/21). State-owned Reli Assets Holding Company Ltd (RAHCO) signed an agreement with a joint venture of Turkish firm Yapi Merkezi and Portugal's Mota-Engil Engenharia e.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: Joint Venture by Portuguese, Turkish Firms Wins SGR Construction Contract

A joint venture between a Turkish and a Portuguese firm has won a tender for construction of 205 kilometres of Tanzania's standard gauge railway, part of the 1,216km stretch that will eventually link Dar es Salaam with the rest of the country as well as with Rwanda and Burundi. The project, to be constructed at a total cost of $1.215 billion, will be undertaken by Yapi Merkez Insaat Ve Sanayi (Turkey) and Mota-Engil, Engenharie and.... Read more »

Posted on : Wednesday , 8th February 2017

Kenya: France Joins Race to Build East Africa's First Nuclear Power Plant

France has joined the list of countries courting Kenya for a multi-billion-dollar deal to build East Africa's first nuclear power plant. French Economy and Finance minister Michel Sapin said the nuclear-rich European country was looking to offer Kenya technical, engineering and financial support to develop reactors. Kenya plans to start building its first nuclear plant from 2022 in a five-year period at a cost of about $5.... Read more »

Posted on : Wednesday , 8th February 2017

Tanzania: School Students Manufacturing Robots under Korean Experts' Guidance

Robots, the programmable machines that can be dispatched to perform certain duties are currently being manufactured in Arusha on trial basis by students who work under supervision by technological experts from Korea. A total of 30 students from Suye and Moshono secondary schools in Arusha City have already started the 'Robot Making' programme, in which each institution has fielded 15 students for the technology demanding.... Read more »

Posted on : Tuesday , 7th February 2017

Kenya: Uganda Poultry Import Ban Could be Lifted by Next Week

Kenya may lift the import ban imposed on Uganda chicken and eggs in the next one week, after experts from the two countries met to assess the measures taken against an epidemic of bird flu. This will, however, depend on the final tests carried out by a group of experts drawn from the two countries. They will conclude the exercise in the next one week. Agriculture Cabinet Secretary Willy Bett said the two teams are doing a risk.... Read more »

Posted on : Tuesday , 7th February 2017

Kenya: SGR on Schedule as Inspection of Locomotives Begin

The government has began the inspection and commissioning of locomotives for the standard gauge railway (SGR), moving to indicate that the completion of the first phase will be on schedule. Speaking to journalists at State House, Spokesperson Manoah Esipisu said the first journey from Mombasa to Nairobi will start in June. "Testing, commissioning and inspection of these locomotives has already begun. Kenya remains on track.... Read more »

Posted on : Tuesday , 7th February 2017

Kenya: Iron Sheets to Replace Safety Hazard Asbestos Roofing in 23 Schools

Hundreds of learners in 23 schools in Nakuru East constituency are learning under roofs made of asbestos, which poses a cancer risk to them, researchers have warned. Cancer researchers say learning under old buildings with ageing and decomposing asbestos materials can increase the risk of getting lung cancer. However, Nakuru East MP David Gikaria says the entire asbestos roofing material in the affected schools will be replaced.... Read more »

Posted on : Tuesday , 7th February 2017

Tanzania: Govt Asks LAPF to Invest in Industries to Boost Growth

The government has called on the Local Authorities Pension Funds (LAPF) to embark on investment activities with huge impact on creating more jobs and contributing to economic growth. The Minister of State in the President's Office, (Regional Administration and Local Governments), Mr George Simbachawene, made the call after inaugurating the new LAPF board of directors in Arusha at the weekend. "It is high time that LAPF.... Read more »

Posted on : Tuesday , 7th February 2017

Rwanda: Environment Authority Mulling Creation of Artificial Lake at Gikondo Industrial Zone

An artificial lake could be created in former Gikondo Industrial Zone in Kigali once the relocation of all the factories there to the Special Economic Zone is completed, Rwanda Environment Management Authority (REMA) has said. Although she could not give more details, Annette Karenzi, the director-general of industry and entrepreneurship at the Ministry of Trade, Industry and EAC Affairs, told The New Times that the first phase of.... Read more »

Posted on : Tuesday , 7th February 2017

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