Market News Page No. 328| Africa Business News | Afrotrade

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Tanzania to Invest U.S.$30 Billion in Lindi Gas Plant

The Minister for Energy and Minerals, Professor Sospeter Muhongo, revealed yesterday that the government will invest at least 30 billion USD (over 60 trillion/-) for the construction of a gas processing plant in Lindi Region. He said the government is already embarking on the grand plan and that Lindi residents and Tanzanians in general should expect economic revolution in few years to come. Prof Muhongo was speaking during the official.... Read more »

Posted on : Wednesday , 17th August 2016

Powering Africa - AfDB Boosts East Africa's Hydropower Projects

The African Water Facility (AWF), a multilateral fund hosted by the African Development Bank (AfDB), will finance a $2-million grant to help the government of Tanzania launch a pre-feasibility study for the multipurpose Kikonge dam, irrigation and hydropower project, expected to boost hydropower generation and irrigation development in Tanzania's Southwest region. In March, AfDB approved a $24 million loan to support Rwanda's contribution to.... Read more »

Posted on : Wednesday , 17th August 2016

Ethiopia: Small-Scale Irrigation Schemes Reduce Drought Burdens

The Ministry of Farming and Natural Resource said that small-scale irrigation schemes have played a big role in reducing El-Nino induced drought effects. Speaking at consultative meeting on resource mobilization for sustainable irrigation system yesterday, State Minister Frenesh Mekuria said that the nation's overall small scale irrigation activities in last dry season (bega) were encouraging. She said that despite.... Read more »

Posted on : Wednesday , 17th August 2016

Lindi set to be Tanzania Economic Hub Thanks to Gas Plant, Minister Indicates

The Lindi region is set to be Tanzania’s economic hub thanks to the planned construction of a liquefied natural gas (LNG) plant. This was recently announced by Prof. Sospeter Muhongo, Tanzania’s Minister of Energy and Minerals. He further explained that the Government of Tanzania will invest USD30b in the construction of the plant, which will take up to 40 months. The plant will be located in the southern.... Read more »

Posted on : Wednesday , 17th August 2016

Bank Commit TZS500b in Loans for Tanzania Agriculture Development

The Tanzania National Microfinance Bank (NMB) has set aside at least TZS500b to provide credit for agriculture development in the country over the next 5 years. This is part of the NMB five-year strategy aimed at revamping agricultural financing in Tanzania. This strategy, named “AgriBiashara” (“AgriBusiness”), was launched on August 3rd 2016. The facilitated access to credit is expected to aid farmers.... Read more »

Posted on : Wednesday , 17th August 2016

Kenya takes bold steps to protect the public from dangers of tobacco through new regulation

The government will next month enforce the tobacco regulations to enable the country to implement the long awaited graphic health warnings. During the launch of the first Global Adult Tobacco Survey (GATS) in Kenya today the Cabinet Secretary for Health, Dr. Cleopa Mailu directed the Tobacco Control Unit to start the implementation of standardized packaging, to be implemented in the subsequent batch of graphic warnings. The new.... Read more »

Posted on : Wednesday , 17th August 2016

Strong shilling hits Kenya�s regional export earnings

The shilling has performed better against the dollar this year compared to key regional trading partners, potentially hurting export earnings from these markets. Data compiled by financial services firm African Alliance shows that the currencies of Uganda, Tanzania, Rwanda and Egypt have depreciated at a faster rate to the dollar than the Kenya shilling, which is 0.8 per cent up on the dollar year-to-date at 101.45 units, having.... Read more »

Posted on : Wednesday , 17th August 2016

Tanzania Awaits Sh1 Billion Dutch Aid For Runway Feasibility Project

Dar es Salaam — Talks between Tanzania and the Netherlands are going on for the later to grant Sh1.2 billion (euros 500,000) to the later to finance a feasibility study for construction of a two-kilometre runway at the Julius Nyerere International Airport (JNIA). The Tanzania Airports Authority (TAA) says it has submitted a proposal to the government of the Netherlands which "is willing to provide the grant for the.... Read more »

Posted on : Wednesday , 17th August 2016

Water service providers urged to adopt latest technology

Water services providers have been trained on improving quality of water through the use of technology to monitor chemical levels. The training conducted by energy and water solutions services company Davis&Shirtliff brought together members of the Water Services Providers Association, who were shown available technologies for monitoring usage, metering and optimising chemicals in water purification. “The training.... Read more »

Posted on : Wednesday , 17th August 2016

China-funded modern railway wins acclaims from African diplomats

The China-funded Mombasa-Nairobi railway in Kenya, which will eventually extend to the entire East African region, has won acclaims from African diplomats. Thirteen African countries' diplomats in Kenya on Tuesday visited construction sites of the China-funded Mombasa-Nairobi railway in the country, hailing it as an embodiment of thriving China-Africa ties. Ambassadors or high commissioners of Zimbabwe, Uganda,.... Read more »

Posted on : Wednesday , 17th August 2016

Japan to offer high quality infrastructural development support to Africa at TICAD summit

Japanese Prime Minister Shinzo Abe will attend the 6th Tokyo International Conference on African Development (TICAD) in the capital city of Nairobi for the two-day conference, which will mark the first time summit to be held in Africa, sources close to the prime minister confirmed Tuesday. The external link of TICAD was launched by the government here in 1993, with the previous five related events also held in Japan aimed at planning.... Read more »

Posted on : Tuesday , 16th August 2016

Kenya: New Rules to Allow More Foreign Direct Investment in Kenya

The government has ratified new rules allowing foreign direct investment (FDI) in establishment of special economic zones (SEZ) where products will be manufactured for the export market. In a Kenya gazette notice, Industry Trade and Co-operatives Cabinet Secretary Adan Mohamed said county governments were also at liberty to allocate land to any local or foreign investor planning to put up a SEZ whereby the identified facilities will.... Read more »

Posted on : Tuesday , 16th August 2016

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