Kuwait Fund Signs Nyagatare-Rukomo Road Agreement with East Africa

 A Loan Agreement was signed today in Kigali between the Republic of Rwanda and Kuwait Fund for Arab Economic Development whereby the Fund will extend a loan of Kuwaiti Dinars Four Million and Five Hundred Thousand Kuwaiti Dinars (K.D. 4,500,000/-), approximately 15.3 million US Dollars, to help finance the Nyagatare-Rukomo Road Project.   The Loan Agreement was signed on behalf of the Republic of Rwanda by H.E. Mr. Claver Gatete - Minister of Finance and Economic Planning.... Read more »

Posted on : Tuesday , 15th December 2015

Chinese Lanpec Eyes Investment in Sudan

The Sudanese Ministry of Petroleum has unveiled a design by Chinese based Lanpec Co. Ltd. for investment in Sudanese oil and gas refineries. According to a statement by the Ministry the company has visited refineries in Khartoum and Port Sudan over the past period and has promised to conclude a memo of understanding in this regard within 45 days. Mahmoud Mohamed Abdel-Rahman, State Minister for Oil, noted interest was driven by successful projects by sister Chinese CNPC in.... Read more »

Posted on : Monday , 14th December 2015

BG Tanzania Donates $ 280,000 to Health Care

BG Tanzania, a firm that deals with the exploration performance, a unique LNG business, and ability to fast-track the development of economic projects oil around the world last week announced that has donated a total Tsh.602,000,000 ($ 280,000 to lift up health services in Mtwara region (600 km) from Dar es Salaam.    An official communiqué of which a copy was availed to East African Business Week indicates that Mtwara has a very high prevalence of Malaria.... Read more »

Posted on : Monday , 14th December 2015

Kibo Mining Makes Good Progress Across Project Portfolio in Tanzania

In a letter to shareholders, Kibo Mining CEO Louis Coetzee outlined the current status of the company and its projects: The Board of Kibo Mining is pleased to report on a highly productive 2015, which saw the company significantly advance work across our project portfolio. This progress has been achieved against the backdrop of persistent challenges for mining companies. As one of the best performing mining stocks on London’s Alternative Investment Market in 2015, Kibo.... Read more »

Posted on : Monday , 14th December 2015

Zimbabwe: Govt to Set Up Tantalite Buying Centre

GOVERNMENT intends to establish a tantalite buying centre modelled along the same lines as Fidelity Printers and Refiners, Mines and Mining Development Minister Walter Chidhakwa. Tantalite is a black mineral found in granite rocks and mostly used in the electronics industry. It is used for the manufacturing of electronic capacitors for cell-phones and laptop computer chips, among others.   "We need it (marketing of the tantalite) to be democratic as gold," said.... Read more »

Posted on : Monday , 14th December 2015

Finland's 2 Million Euros to Boost Tanzania Growth

Dar es Salaam — Finish government has granted Euro 2 million (about Sh4.7billion) to an organization working to unlock economic potentials in East Africa--TradeMark East Africa (TMEA)--to complete building houses for staff working at border posts.   The move is part of a bigger plan to facilitate a one-stop-centre in four border posts in Tanzania.   The system which was proposed by the East African Community (EAC) will reduce the time transporters spend trying to.... Read more »

Posted on : Monday , 14th December 2015

4G Comes to Dar es Salaam

Dar es Salaam — Five regions in Tanzania have been connected by the newly technology (4G LTE) that will see internet communication faster and more efficient.   LTE is a 4G wireless communications standard developed by the 3rd Generation Partnership Project (3GPP) that's designed to provide up to 10x the speeds of 3G networks for mobile devices such as smartphones, tablets, netbooks, notebooks and wireless hotspots.   The availability of 4G LTE will facilitate video.... Read more »

Posted on : Monday , 14th December 2015

Malawi Cotton Farmers to Smile All the Way to the Bank

Cotton farmers in Malawi are all smiles following the raise in cotton prices by over 90 per cent for those on contract farming with Cotton Ginners Africa Limited.   The company's general manager Spencer Dzimbiri told a news conference in Blantyre that the cotton firm will splash out K1.3 billion in loans for farm input for over 100000 cotton farmers.   Dzimbiri said this planting season, his company will be buying cotton at K375 per kilogram up from K195 kilogram per.... Read more »

Posted on : Monday , 14th December 2015

Tanzania Has High Potential For Renewable Energy Projects, US Consulting Firm Indicates

Tanzania has been recently considered by Frost & Sullivan, a US based consulting firm involved with market research for growth strategies in different industries, within a list of seven countries in Sub Saharan Africa (SSA) with a big potential to scale up power demand in the country by the usage of renewable energy (RE) projects. The list is the outcome of a research named Large-Scale RE Power Development Opportunities in SSA, which points out that Tanzania, Kenya, Uganda,.... Read more »

Posted on : Monday , 14th December 2015

Chinese-Built Hospital Brings Relief to Africa

 The area of Mahusekwa had been a nondescript rural outpost in Zimbabwe that few people could find it on the map. Fewer could justify a visit.   But things have changed. Over the past two years, people living in the Marondera district -- with a population of 190 000 -- come quite often to this tiny township. And the main attraction is no other than a modern hospital.   The Mahusekwa Hospital, also known as China-Zimbabwe Friendship Hospital, was built under a.... Read more »

Posted on : Monday , 14th December 2015

Trade Talks in Nairobi Can Deliver a Transformed World

 After a long and winding journey that started when the World Trade Organization first chose Nairobi as the venue for its 10th Ministerial Conference, known by the acronym MC10, the time has come for us to actualize the dream of hosting the world in Africa. The meeting kicks off on Tuesday in Nairobi, where we expect to receive thousands of visitors.   It has been a year of hard work and tough negotiations. It has been a year of give-and-take as more than 160 member.... Read more »

Posted on : Monday , 14th December 2015

East Africa to Start Assembling Vehicles in 2018

 Kiira Motors Corporation (KMC) yesterday launched its business strategy meant to establish capabilities for manufacturing vehicles in Uganda with production expected to start in 2018 through assembling.   According to Prof Tickodri-Togboa, the minister for Higher Education, Science and Technology, the idea to start making vehicles in the country started in 2007 when a group of Makerere University students and staff participated in Vehicle Design Summit in the United.... Read more »

Posted on : Monday , 14th December 2015