Market News Page No. 244| Africa Business News | Afrotrade

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Tanzania: Mining Firm to Get Finnish 'Smart Power Generation' Plant

Dar es Salaam — Wärtsilä, a Finnish corporation which manufactures and services power, has promised to supply a 40 MW 'Smart Power Generation' plant to Geita Gold Mining Limited in Tanzania in the beginning of 2018. The company which is one of the Independent Power Producers operating in Tanzania said that the power plant will provide a reliable electricity supply to the gold mine, located in the Lake Victoria goldfields.... Read more »

Posted on : Tuesday , 20th December 2016

Tanzania: USD 1.6 Billion Mega Resort to Come Up in Zanzibar

Zanzibar — China's MCC Overseas Company has signed a contract to build the Zanzibar Amber Resort in Matemwe Village. The resort will be one of the biggest in the East African region, say project owners. The signing ceremony, witnessed by dignitaries including Speaker of the Zanzibar House of Representatives Zubeir Ali Maulid, his deputy, Mgeni Hassan Juma, legislators and ministers was held at Park Hyatt Hotel in Stone.... Read more »

Posted on : Tuesday , 20th December 2016

Tanzania, Zanzibar Sign Historic Oil and Gas Bill

ZANZIBAR President Ali Mohamed Shein yesterday signed into law, the Oil and Gas Development/Management Bill, an important step that will empower the semi-autonomous part of the United Repub lic of Tanzania to manage its own natural resources. The signing of the bill into law brings to an end weeks of anxiety, with the people, legislators and lawyers embroiled in heated argument on the legal powers Dr Shein had to sign the new.... Read more »

Posted on : Tuesday , 20th December 2016

Tanzania: Agriculture Sector to Get USD 94 Million Boost

Dar es Salaam — The Board of Directors of the African Development Fund (ADF) has approved a loan of $93.51 million (over Sh200 billion) for on-lending to the Tanzania Agricultural Development Bank (TADB). The funding will contribute to supporting Tanzania's agriculture sector and achieving the country's development goals, the African Development Bank (AfDB) said in a statement. The ADF is the concessional window of the.... Read more »

Posted on : Tuesday , 20th December 2016

Multi Billion Dollar Fertilizer Plant Coming To Tanzania

Construction of a multitrillion shilling fertiliser plant with envisaged daily production capacity of 3,850 tonnes is scheduled to start in Kilwa, Lindi Region, by next March. The petrochemical complex, a partnership project under a consortium of investors from Tanzania, Europe and Asia, is among the largest fertiliser investments in the continent. Permanent Secretary (PS) in the Ministry of Industry, Trade and Investment, Dr Adelhelm.... Read more »

Posted on : Tuesday , 20th December 2016

Tanzania: New Dodoma LPG Plant to Help With Cleaner, Cheaper Cooking

ORYX Energies has completed the construction of a new Liquefied Petroleum Gas (LPG) cylinder filling and storage depot in Dodoma, to give families access to a cost effective and cleaner way of cooking. Company's Country Director, Mr Nick McAleer said the filling and storage facility marks the end of a key phase of investment in new and upgraded LPG facilities across the country over the past 18 months. He said the choice of Dodoma.... Read more »

Posted on : Tuesday , 20th December 2016

Tanzania: Over 1000 Industries Setup Since Magufuli Came to Power

Morogoro — A total of 1,423 industries have been set up in Tanzania within one year of President John Magufuli in office, it has been revealed. Principal Trade Officer in the Ministry of Industry, Trade and Investment, Mr Wilfred Kahwa, made the revelation here yesterday, noting that the industries were developed between October 2015 and October 2016. Some 19 industrial development projects initiated within the year (October 2015.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia: Reaping Benefits of the Great Health Reform

Edna lives in a village on the outskirts of Berhale, roughly 900 kilometres from Addis Ababa. Every day, she travels through the desert to deliver essential health services to families' doorsteps. As a front -line health worker, Edna is part of a historic movement that has extended primary health care to the poorest and most marginalised communities and saved millions of lives. At the turn of the Millennium, for every 1,000 children.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia Set to Become Africa's Top Tourism Spot

During the past two decades, Ethiopia's ambitious economic initiatives to become middle income country managed to progressively grow and develop its economy. The country has given ample focus to sectors like tourism increasing their GDP contribution to the entire economic key factors. Addressing the country development shortfalls and poverty reduction initiatives has grabbed the nation attention working on better policies improving.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia: Multi Million Dollar Gibe III Hydropower Plant Begins Operations

Addis Ababa — Ethiopia inaugurated the $1.57 billion Gibe III hydro plant on River Omo on Saturday. The plant which is located 450km southwest of the capital Addis Ababa will increase Ethiopia's total electricity output to 4,238MW with 10 turbines installed, each with a capacity of 187MW. The plant is expected to supply both domestic and export markets. Gibe III is the third plant on the Gibe-Omo hydroelectric.... Read more »

Posted on : Tuesday , 20th December 2016

China Completes Ethiopia Hydropower Rehabilitation Project

Addis Ababa — China on Thursday handed over a hydropower plant rehabilitation project to Ethiopia. With an installed generating capacity of 6.6MW, the Aba-Samuel Hydropower Plant Rehabilitation Project was carried out in two years by PowerChina Huadong Engineering Corporation, for which the Chinese government provided a grant amounting to 95 million yuan (around 14 million U.S. dollars). Signing the document during the.... Read more »

Posted on : Tuesday , 20th December 2016

Ethiopia: Turkey Completes Ottoman-Era Building Restoration

The consulate building was built during the Ottoman era in 1912 in Harar city. The Turkish Cooperation and Coordination Agency (TIKA) announced Tuesday that it has successfully completed the restoration of a 100-year-old Ottoman-era building in Harar. Built during the Ottoman era in 1912 in Harar, it had been on the verge of collapse after years of neglect before TIKA began a restoration project two years ago. Project.... Read more »

Posted on : Tuesday , 20th December 2016

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