N e w s

Stanchart to invest more in Africa to drive its growth

Standard Chartered Bank plans to improve investment and leverage on international banking expertise to drive growth in Africa through a new brand campaign, Here for Africa.   The bank currently supports more than one million retail customers in Africa and more than 25,000 commercial, corporate and institutional clients. Last November Stanchart committed to $3 billion (Sh300 billion) in investments globally, partly used to fund upgrade of.... Read more »

Posted on : Tuesday , 9th August 2016

Tanzania: Brazil Keen to Invest in Energy Sector

Brazil has expressed interest to invest in the country's energy sector, especially generating bioelectricity and hydropower.   This was said in Dar es Salaam yesterday by the Brazil's Ambassador to Tanzania, Mr Carlos Alfonso Puente, during his meeting with the Minister for Energy and Minerals, Professor Sospeter Muhongo.   Ambassador Puente told Prof Muhongo that his country has sufficient knowledge and experience in the.... Read more »

Posted on : Monday , 8th August 2016

Kenya: Uhuru Defends Massive Investment in Infrastructure

President Uhuru Kenyatta on Monday tore into critics questioning the rationale of building the standard gauge railway and other infrastructure projects, telling them the construction will go on "regardless of what everybody says."   At an infrastructure summit held in Nairobi, the President defended the massive investments in the projects which have also caused the country to incur huge debts, saying they are necessary to boost.... Read more »

Posted on : Monday , 8th August 2016

Turkish investors set eyes on Tanzania leather industry

Over 40 businesses in Tanzania have signed deals with Turkish investors who have been keen on tapping into Tanzania leather industry.   The investors say they were overwhelmed by the positive response and interest they received from local companies. The Turkish investors are looking to unseat the dominance of the China footwear in Tanzania.    “We found the market better than we expected. It is more developed and.... Read more »

Posted on : Monday , 8th August 2016

Tanzania going ahead with LNG project

In East Africa, the government of Tanzania is set to undertake an environmental impact assessment (EIA) in late August for a liquefied natural gas (LNG) project valued at $30 billion. According to local media the BusinessWeek, global energy solutions firm BG Group has partnered with the Tanzania Petroleum Development Corporation (TPDC) to erect the power plant. The site identified by government for the LNG project is situated at Likong'o.... Read more »

Posted on : Monday , 8th August 2016

UK gives small hold farmers 3 million Euros

 A total of 70,000 small holder farmers in Uganda and Tanzania are to sell their grains  to the regional market thanks to a grant by the UK government worth 3 million Euros. It will help them maintain the quality to meet market demands. The money is being channeled through Farm Africa's Food Trade East and Southern Africa trade enhancement and promotion program, according to Marc Van Uytvanck, Team Leader of FoodTrade East and.... Read more »

Posted on : Monday , 8th August 2016

France invests $37m in Kenyan power developments

 On Monday, Kenya entered into an agreement with France for a sum of $37 million to facilitate the development of the east African country’s power sector through renewable power mini-grids.   The French embassy in Kenya said in a statement: “This 33 million euro [$37 million] financing will support the installation of renewable energy generation units (primarily solar photovoltaic [PV], but also in some cases wind.... Read more »

Posted on : Monday , 8th August 2016

Tanzania: Sh176 Billion to Expand Aga Khan Hospital

Dar es Salaam — The Aga Khan Hospital is implementing a Sh176 billion expansion project that will see the facility match the international status it attained last week from the Joint Commission International. The hospital will increase the number of from 74 to 170 and has set aside Sh3 billion for training young health professionals abroad. According to the Aga Khan Health Services regional CEO for East Africa, Mr Sulaiman Shabiabuddin,.... Read more »

Posted on : Monday , 8th August 2016

TOP United Nations Body APPLAUDS ODM’s Garissa Governor Jama’s administration SUCCESS on health and child care services.

 Garissa Deputy Governor Abdullahi Hussein hosted a large delegation from Kenya Unicef office led by unicef Kenya representative Mr. Werner schultink in order to familiarize and oversee devolution functions at county level.   Mr werner and his delegation presented the Deputy Governor an overview of the zonal office programs and coverage that the unicef have carried out within Garissa county during the last three years of devolution,.... Read more »

Posted on : Monday , 8th August 2016

Tanzania: gas processing plant to ‘transform economy’

In East Africa, energy and minerals minister, Professor Sospeter Muhongo, has assured Tanzanians to get ready for the country’s economic transformation.   Muhongo said the transformation is set to come about through the planned construction of a gas processing plant in the Lindi Region.   According to Tanzania Daily News, the minister revealed that for this project, government intends to invest about $30 billion.   Gas.... Read more »

Posted on : Monday , 8th August 2016

Africa Is the World's New Growth Narrative

 A strong message came from the recent investment summit in Beijing where African companies signed deals worth billions of dollars with Chinese financing agencies, suppliers, and other development partners.   These deals may be brushed off by European and American investors as a desperate catch-up effort by the Chinese since the First World economies still remain the biggest investors in Africa, but I believe there is much more to.... Read more »

Posted on : Monday , 8th August 2016

Rwanda: Mauritian Investors to Construct Sugar Factory in Eastern Provice

 The Government has given investors from Mauritius the green light to set up a sugar processing factory in the country.   The agreement will see the investors construct a factory with capacity to produce 100,000 tonnes of sugar per year.   According to the Government, this will help realise efforts for the economy to be self-reliant in terms of sugar production by 2020.   The current sugar production in the country is.... Read more »

Posted on : Monday , 8th August 2016



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