Market News Page No. 348| Africa Business News

Tanzania: Multi-Billion Housing Project Launched by Saccos

Musoma — A Savings and Credit Cooperative Society (Saccos) has launched a four-year housing loan scheme for its members. Speaking during the launch on Tuesday, Imara Saccos manager Hildagadis Kinanda said the cooperative society had set aside Sh3.5 billion for the first phase of the project. According to Ms Kinanda, the houses would be built in three phases. At least 500 houses will be constructed in 2017 in the first.... Read more »

Posted on : Friday , 17th June 2016

Tanzania: TPDC, Oil & Gas Investors to Meet Ahead of New Planned LNG Plant

The Tanzania Petroleum Development Corporation (TPDC) is on Wednesday set to meet oil and gas investors ahead of the government's decision on Hosting Government Agreement (HGA) that could create a new outlook for the planned liquefied natural gas (LNG) plant. Construction of the 10-milliontonne a year LNG plant in East Africa's biggest holder of natural gas reserves after Mozambique is yet to be decided and government officials say a.... Read more »

Posted on : Wednesday , 15th June 2016

Uganda to Become East Africa's Fertiliser Hub

Kampala — African Potash, a company listed on the London Stock Market, has signed an agreement with Uganda that will see the UK firm establish its presence here to supply affordable fertilisers to farmers in the country, East Africa and beyond. The Memorandum of Understanding (MoU) signed last week was witnessed by Common Market for Eastern and Southern Africa (Comesa) representatives and the Alliance for Commodity Trade in East.... Read more »

Posted on : Tuesday , 14th June 2016

Tanzania: Foundation Stone Laid for New 'Safari City' Outside Arusha

In a few years from now many of the Arusha urban residents will be living some ten kilometres from the current city, following the laying of foundation for the proposed new 'Safari City,' to mushroom in Matevesi area. The new city planned, drawn and being executed by the state-run, National Housing Corporation, has floated nearly initial 600 plots for residential use and these, according to the Regional NHC Manager, Mr James Kisarika,.... Read more »

Posted on : Tuesday , 14th June 2016

Kenya: World Bank to Fund Major Projects in Northern Kenya - President

President Uhuru Kenyatta on Sunday said the World Bank is set to embark on a Sh111 billion funding of transformative projects in the country particularly the Arid and Semi-Arid areas. Though his spokesman Manoah Esipisu, the head of state indicated that the monies will be used to provide solar energy to households, public institutions such as health centers and educational institutions. "Key features of the program.... Read more »

Posted on : Monday , 13th June 2016

Kenya, Tanzania, Zambia Electricity Grids to be Interconnected

Iringa — The implementations of the first phase of projects to interconnect the nation electricity grid to that of Zambia and Kenya is expected to be completed in September. The project dubbed Backbone Transmission Investment Project (BTIP) will interconnect national grid to that of Southern Africa Power Pool (SAPP) through Zambia. BTIP project manager Mr Oscar said upon the completion of the project the national.... Read more »

Posted on : Monday , 13th June 2016

Tanzania: Presidents to Lay Oil Pipeline Foundation Stone

Tanga — President John Magufuli and his Ugandan counterpart Yoweri Museveni are scheduled to lay a foundation stone for the construction of the Uganda oil pipeline, officials have said. At a briefing with Tanga regional leaders Thursday, Tanzania Petroleum Development Corporation (TPDC) director general James Mataragio said they are yet to determine the exact place in Tanga where the stone would be laid. He did not give a.... Read more »

Posted on : Monday , 13th June 2016

East Africa: EAC Budget Focuses On Energy, Infrastructure Sectors

East African Community (EAC) member states have prioritised development expenditure as countries look to further strengthen the growth agenda of the regional economies. In the national budget estimates presented yesterday, the regional bloc's biggest economy Kenya will be spending $22.8 billion, Tanzania $13.5 billion, and Uganda $12 billion during the next financial year that starts on July 1. Rwanda plans to spend some $2.49 billion in the.... Read more »

Posted on : Friday , 10th June 2016

Tanzania: 413-Kilometer Link Road in Pipeline

Dodoma — Feasibility study and detailed designing for construction of the 413-kilometre road linking Mbeya to Tabora Regions to tarmac level have been completed with the government currently looking for funds to implement the project. "Now that the feasibility and designing have been completed, construction of the road will take place when funds are available," Deputy Minister for Works, Transport and Communications,.... Read more »

Posted on : Friday , 10th June 2016

Kenya: President Says High-Speed Railway to Be Completed Ahead of Schedule

Kenyan President Uhuru Kenyatta said over the weekend that China-funded high speed railway which runs from the coastal city of Mombasa to Nairobi will be completed ahead of the schedule. Kenyatta, who visited a section of the 472 kilometer standard gauge railway (SGR) project which is more than three-quarters done, said once completed, the project will enhance Kenya's position as a regional business hub. Speaking during the.... Read more »

Posted on : Friday , 10th June 2016

Tanzania: Govt Promises Capital for Industries

Dodoma — As part of implementation of the Second Five-Year Development Plan (FYDP II), the government has pledged to provide capital to local investors to establish factories - to realise the industrialisation agenda as stipulated in the plan, the Prime Minister, Mr Kassim Majaliwa, announced here yesterday. In his address during the official launch of the plan for 2016/2017-2020-2021, which was endorsed by the National Assembly.... Read more »

Posted on : Thursday , 9th June 2016

Tanzania: China Exim Bank Pledges Support to New 'Big Projects'

Dar es Salaam — China Exim Bank has pledged to support 'big projects' that the new government will undertake in the envisaged industrialisation drive. Ms Zhang Shuo, the banks's deputy director, said Tuesday the Chinese financial institution would provide necessary support to the fifth phase government's economic transformation plans. It will also back efforts to ensure Tanzania increases employment opportunities by 40.... Read more »

Posted on : Thursday , 9th June 2016