N e w s

Banks back 1 000 MW coal fired power project in Kenya

Industrial & Commercial Bank of China (ICBC) and Standard Bank of South Africa have concluded a deal to finance a $2-billion, 1 000 MW Amu coal-fired power plant, in Kenya.   ICBC, which has committed $1.2-billion to the project, has a 20% stake in Standard Bank, which will make available $300-million for the project.   The coal plant is being constructed by a consortium of local and international firms under investment vehicle.... Read more »

Posted on : Tuesday , 9th August 2016

Tanzania to connect 1 mln households to power for $3 bln over 5 yrs

Tanzania plans to spend 7 trillion shillings ($3.21 billion) over the next five years to connect about 1 million rural households to electricity, a senior government official said on Monday.   East Africa's second-biggest economy wants to use some of its natural gas reserves to end power shortages and boost industrial growth.   "The five-year rural electrification project whose implementation starts in this 2016/17 government.... Read more »

Posted on : Tuesday , 9th August 2016

Sri Lanka, Tanzania to forge strong bilateral relations

Aug 08, Colombo: Sri Lankan Minister for Tourism Development, Christian Religious Affairs and Lands, John Amaratunga, has tasked the Sri Lankan business community in Tanzania to build strong trade relations between the two countries.   Amaratunga, who left yesterday after his official four-day visit in the country, said there were many areas that the business community in his country could enter into joint venture with.... Read more »

Posted on : Tuesday , 9th August 2016

Tanzania: Body Wants Agriculture to Go Hi-Tech

 Mbeya — The Alliance for Green Revolution in Africa (Agra) has called for greater adoption of technology in agriculture as the best solution for improving output among smallholder farmers.   The know-how which ranges from improved seeds to storage facilities will increase production and halt wastage after harvest, a move that would assure continued national food security and surplus production for the market, according to Agra.... Read more »

Posted on : Tuesday , 9th August 2016

Tanzania: Govt Plans Irrigation Scheme for Every District

Lindi — Plans are underway to set up irrigation schemes in every district countrywide to boost irrigation farming and avoid hunger, the Deputy Minister for Water and Irrigation Isack Kamwelwe said here yesterday.   The deputy minister was speaking after visiting several pavilions at Nanenane grounds at Ngongo grounds in Lindi municipality. He said the country has 29 million hectares, which are suitable for irrigation farming but.... Read more »

Posted on : Tuesday , 9th August 2016

$30bn gas plant to boost Tanzania's economy

Tanzania is planning to invest at least $30bn in the construction of a gas processing plant in Lindi Region, the country's minister for energy and minerals, Professor Sospeter Muhongo, revealed.   The new plant will require approximately 200kms of gas pipes from the sea to the plant. According to the minister, upon completion of the project, the government will be able to process gas and thus boost the country's economy.   Since.... Read more »

Posted on : Tuesday , 9th August 2016

East Africa: Brazil Keen On Links With East Africa

Arusha — Brazil, an economic giant of South America, is keen to promote stronger economic ties with East Africa, its ambassador to Tanzania Carlos Alfonso iglesias Puente revealed here on Tuesday.   "The Brazilian business community already has a significant presence in Tanzania and Kenya, especially in construction, energy and solid waste management sectors," he said during his visit to the East African Community (EAC).... Read more »

Posted on : Tuesday , 9th August 2016

East Africa: Brazil Keen On Links With East Africa

Arusha — Brazil, an economic giant of South America, is keen to promote stronger economic ties with East Africa, its ambassador to Tanzania Carlos Alfonso iglesias Puente revealed here on Tuesday.   "The Brazilian business community already has a significant presence in Tanzania and Kenya, especially in construction, energy and solid waste management sectors," he said during his visit to the East African Community (EAC).... Read more »

Posted on : Tuesday , 9th August 2016

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



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