Market News Page No. 357| Africa Business News

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

Tanzania: Manufacturing Sector Seen Growing Steadily

The President's Manufacturer of the Year Awards (PMAYA) has clocked eleven years and so are the industries efficiency, high-tech and competition. Also PMAYA has widen areas of competition as now there are 17 categories where industries are pitting in three groups -large, medium and small depending on capital, workforce and technology and environmental protection. The first is manufacturing, assembling and processing industries.... Read more »

Posted on : Thursday , 9th June 2016

Tanzania: France Commits 65 Million Euros for Airport Revamp

France, through its International Development Agency (AFD), has granted 65 million Euros (about 161.5bn/) as a concessional loan for the modernisation and extension of the Julius Nyerere International Airport (JNIA) Terminal II built in the 1980s. AFD Country Representative Mr Emmanuel Baudran told the 'Daily News' in Dar es Salaam yesterday that they have already sent the draft to the government, detailing how disbursement of the loan.... Read more »

Posted on : Thursday , 9th June 2016

Tanzania: Farmers to Benefit from New Chemical-Free Crop Storage Technology

Tanga — Farmers in the region are soon to benefit from local firm's PPTL new technology which will allow them to store crops after harvesting. Dubbed Purdue Improved Crop Storage (PICS), the technology allows farmers to store crops in polyethylene without having to bother with the use of chemicals. According to PPTL country representative Mr Lusekelo Panja, the PICS bags have three layers which don't allow oxygen to enter.... Read more »

Posted on : Wednesday , 8th June 2016

Tanzania: Rice Farmers Reap Benefits of Jica Project

Rice farmers in Kilombero have begun storing their crops in warehouses after harvest instead of selling them directly to buyers as it was in the past. The farmers told a workshop for Horticulture Value Chain Development in Morogoro at the weekend that previously they had to sell the food crops under pressure from the farm, denying them the power to negotiate. "The farmers' income in Msalise village has increased to 56 per.... Read more »

Posted on : Wednesday , 8th June 2016

East Africa: Total Mulls Acquisition of GAPCO

Dar es Salaam — A leading retailer of petroleum products in Africa, Total is expanding on the continent with the acquisition of Gulf Africa Petroleum Corporation's (GAPCO) assets in Kenya Uganda and Tanzania. The transaction is subject to the authorities' approval in the three countries. A communiqué issued by the company of which this paper has a copy reveals that the principal assets being acquired are two logistical.... Read more »

Posted on : Wednesday , 8th June 2016

Report Says Kenya Amongst Top Nations in Green Power

Kenya has developed the fourth-largest geothermal energy in the world, putting the country among top green energy economies. The latest Renewables Global Status report shows that the amount of geothermal energy in Kenya's national grid expanded to a total of 600 megawatts (MW) by the end of 2015. Geothermal now accounts for over a quarter of the country's total power capacity of 2,333MW. Turkey set up the largest.... Read more »

Posted on : Wednesday , 8th June 2016