Market News Page No. 347| Africa Business News

Tanzania: Govt Seeks Social Security Funds Investment in Fishing Sector

The Ministry of Agriculture, Livestock and Fisheries yesterday held talks with social security funds in Dar es Salaam to consider diverting their investments into deep sea fishing. "It is high time for social security funds to divert their investments in this important sector in the country," Minister of Agriculture, Livestock and Fisheries, Dr Charles Tizeba, said. He said that the government has been struggling to.... Read more »

Posted on : Thursday , 28th July 2016

Tanzania: Smallholder Farmers Set to Benefit From $25 Million Scheme

Dar es Salaam — Smallholder farmers in Tanzania are set to benefit from a $25 million (about Sh55 billion) new Agriculture Finance (AgriFin) programme launched here yesterday. The programme is a brainchild of Mercy Corps and the MasterCard Foundation. It seeks to improve smallholder farmers' access to financial and information services. The initiative will run for six years. It is expected to benefit at least one.... Read more »

Posted on : Thursday , 28th July 2016

Tanzania: Major Flyover Construction to Begin This October

Actual construction of the longawaited flyover at the junction of the Nelson Mandela Expressway and Nyerere Road in Dar es Salaam is set to begin in October, this year, it was revealed yesterday. The Resident Engineer from Oriental Consultants Global, Kiyokazu Tsuji, told this paper in Dar es Salaam that currently the contractor is preparing diversion roads before the actual construction begins. He was speaking on the sideline.... Read more »

Posted on : Thursday , 28th July 2016

East Africa: EAC Governments Urged to Support Intra-Regional Trade in Staple Foods

The East African Community governments have been urged to support intra-regional trade in staple foods of which grain trade makes part. This is to help rise the citizens 'standards of living in the region. This has been said in a meeting by Directors of Eastern Africa Grain Council (EAGC) on Friday last week to deliberate on the challenges hampering cross border trade in staple foods within the Eastern Africa Region. "By.... Read more »

Posted on : Wednesday , 27th July 2016

Tanzania: Construction of Central Railway Begins As Dar, Beijing Sign MoU

Construction of a 2,190-kilometre central railway line to standard gauge has begun after the government signed a Memorandum of Understanding (MoU) with Exim Bank of China in Dar es Salaam yesterday. The agreement involves forming technical teams from both sides to oversee various issues regarding the whole construction process and other administration matters. The Permanent Secretary (PS) in the Ministry of Finance, Dr Servacius.... Read more »

Posted on : Tuesday , 26th July 2016

Tanzania: U.S.$110 Million Tractor Factory to be Financed by Poland

Dar es Salaam — Tanzania has secured a $110-million soft loan from Poland to establish a tractor assembling factory that will enhance the agriculture sector, the government has confirmed. The Permanent Secretary in the Ministry of Industry, Trade and Investment, Dr Adelhem Meru, said the factory, which is expected to be constructed in Kibaha, would take-off before the next financial year. "The construction will start.... Read more »

Posted on : Saturday , 23rd July 2016

Tanzania: Dodoma to Get Commercial Hub, Dry Port

Dodoma — The government plans to establish a commercial hub and dry port in Dodoma for anticipated rise in commercial activities after completion of upgrading of the airport in the designated capital. The Prime Minister, Kassim Majaliwa, has instructed the office of Dodoma Regional Commissioner and the Capital Development Authority (CDA) to allocate areas to establish the centre and the dry port which is to handle huge commercial.... Read more »

Posted on : Saturday , 23rd July 2016

East Africa: 250,000 Households Get Access to Off-Grid Power

Mobisol, one of the leading providers of smart rent-to-own solar solutions in East Africa, has installed 50,000 solar systems for rural homes and businesses, enabling it connect over 250,000 beneficiaries to off-grid energy. Thomas Gottschalk, the Mobisol founder and chief executive officer, said access to clean, affordable and reliable energy empowers entire communities to live up to their potential - improving economic well-being and.... Read more »

Posted on : Saturday , 23rd July 2016

Tanzania: AfDB Satisfied with Implementation of Water Projects, Pledges More Help

African Development Bank (AfDB) has expressed satisfaction on Tanzania's implementation of water and sanitation projects, promising to continue working closely with the government towards the target of availing water and sanitation services to more citizens. AfDB Director of Water and Sanitation Department Mohamed El Azizi said in Dar es Salaam yesterday that the bank has financed a number of water and sanitation projects in Tanzania.... Read more »

Posted on : Friday , 22nd July 2016

Tanzania: World Bank Releases Sh100 Million for New Dry Port

Dodoma — The World Bank (WB) through the Local Investment Climate (LIC) has disbursed Sh100 million for the construction of a dry port here, Prime Minister Kassim Majaliwa revealed yesterday. The Premier directed the Capital Development Authority (CDA) and the office of the regional commissioner to set aside land for the construction of the port. Speaking when launching the project for the expansion and upgrading the.... Read more »

Posted on : Friday , 22nd July 2016

Tanzania: Chinese Bank to Loan U.S.$7.6 Billion for Railway Project

Plans for the construction of a 2,190-kilometre central railway line to standard gauge form are now up for implementation as Chinese Exim Bank has agreed to give a soft loan of 7.6 US dollars (about 16 trillion/-) to finance the project. According to a statement issued yesterday by the State House, the amount is enough to cover construction of 2,190 kilometres. The project is expected to start this financial year as the government has.... Read more »

Posted on : Friday , 22nd July 2016

Kenya: New Mining Law Hopes to Generate Sh300 Billion Annual Revenue By 2030

Lobbying for influential positions has started in earnest in the new legal order that will govern mining. The new mining law replaced some laws which were enacted in 1940s just after World War II. The law creates the crucial Mining Rights Board that will vet applications for licenses as well as a new parastatal, the National Mining Corporation. It also creates Minerals and Metals Commodities Exchange; a parastatal that.... Read more »

Posted on : Thursday , 21st July 2016