345,000 Tanzanian Famers to Receive TZS114b in Agriculture Loans in 2016

 The Tanzania Private Agricultural Sector Support (PASS) plans to reach 345,000 agricultural entrepreneurs with TZS114b guaranteed loans in 2016. PASS is a Non-Governmental Organization (NGO) which assists farmers to access loan facilities for viable investments through appraisal of loan write ups in line with specific bank’s terms and conditions. Nicomed Bohay, PASS Managing Director, explained that the organization will help maize farmers Songea, Mbeya, Iringa,.... Read more »

Posted on : Friday , 2nd September 2016

Tanzania: Arusha Tenants to Enjoy Mlimani City Apartments As Firm Expands

 Dar es Salaam — Mlimani City is expanding its footprint amid reports that the mall is currently operating at 100 per cent occupancy.   While the firm is expanding its current facility in Dar es Salaam, it will also soon build a property in Arusha, according to a top official.   The property was developed in 2004 by a Botswana-based investor Gulaam Husain Abdoola of GH Group that injected an $80-million investment after signing a 50-year contract with the.... Read more »

Posted on : Friday , 2nd September 2016

Africa: Mkapa Urges Stronger Ties With the Private Sector

 Dar es Salaam — Former President Benjamin Mkapa has said African governments must work harder to build stronger ties with the private sector.   He said it was high time the widespread notion that successful entrepreneurs were involved in clandestine businesses is dismissed.   Mr Mkapa was addressing a press conference to launch of the Investment Climate Facility for Africa (ICF) Completion Report in Dar es Salaam on Wednesday.   "Don't treat all.... Read more »

Posted on : Friday , 2nd September 2016

Tanzania secures huge loan to build a new tractors assembly plant

 Tanzania has secured a loan worth 110 million U.S. dollars to establish a tractors assembly plant in its efforts to become east Africa’s food basket and a middle income nation by 2025. Tanzania will become the first nation in sub-Saharan Africa to venture into assembling farm machinery, which will transform the agricultural sector in the region, when the plan is fully implemented.   "We have secured loan from the Poland of about 110 million dollars, which will.... Read more »

Posted on : Friday , 2nd September 2016

BAIC to Build US$ 800 Million Car Plant in South Africa

 Beijing Automotive International Corp. (BAIC), one of China's top automakers, said it will build a US$ 800 million auto plant in South Africa, the largest foreign investment in the country in four decades, as Chinese car brands look to expand overseas. The announcement comes as China's own car industry has slowed sharply in the last two years, making it bloated with excess capacity after years of explosive growth. China is the world's largest auto market, fueled by a huge.... Read more »

Posted on : Friday , 2nd September 2016

Tanzania: Govt to Pick Contractor for Sh16 Trillion Railway Line Project

 Dar es Salaam — The Ministry of Works, Transport and Communication is currently in the process of procuring a contractor for the construction of the standard gauge railway line run from Dar es Salaam to Kigoma and Mwanza.   This comes just weeks after Tanzania signed a $7.6 billion (about Sh16 trillion) loan agreement with the Export-Import (Exim) Bank of China for upgrading the railway line.   Transport permanent secretary Leonard Chamuriho told BusinessWeek.... Read more »

Posted on : Friday , 2nd September 2016

Rwanda: BBOXX Secures U.S$20 Million Funding to Expand Solar Off-Grid Connectivity

 BBOXX, a leading global off-grid solar company, successfully closed a $20 million Series C investment on 30 August. The company has pioneered a distributed energy platform, comprising data-driven technology and a unique solar home system design to deliver off-grid energy on a utility scale.   Since 2010, BBOXX has provided off-grid electricity to more than 350,000 people in 35 countries around the world. This latest round of investment is supported by co-investors.... Read more »

Posted on : Friday , 2nd September 2016

Tanzanian Royalty Announces $5 Million Financing for Mining Development

 Tanzanian Royalty Exploration Corporation (TNX)(nyse mkt:TRX) (the "Company") is pleased to announce that it has closed the first tranche of a $5 Million private placement of securities with Crede CG III, Ltd, a wholly-owned subsidiary of Crede Capital Group, LLC, a long-only family office that invests in emerging growth companies. Funds will be used by the Company's to expand its production team necessary to bolster development of the Company's Buckreef gold mine in.... Read more »

Posted on : Friday , 2nd September 2016

Tullow set to resume oil exploration in Baringo

 Tullow Oil has announced that it would return to Baringo County where its suspended operations after locals turned hostile.   It stopped prospecting for oil in March over what villagers claimed was exclusion by the British-owned exploration firm. Edward Mungatana, a senior manager at Tullow, told a public forum yesterday that his company was willing to go back to resume the exploration, and that it cannot afford to be irresponsible in its activities. "We are willing.... Read more »

Posted on : Friday , 2nd September 2016

Engie Leads $20M Investment in Off-Grid Solar Startup Bboxx

 French energy giant Engie was the lead investor in a Series C funding round for off-grid solar startup Bboxx to expand its presence in Kenya, Rwanda and beyond.   The startup has 36 retail outlets in the two East African countries and expects to scale up to 400 retail shops in the next two years. The retail stores are franchised in the two countries, and there are also distribution networks in more than two dozen other countries.    “We want to provide.... Read more »

Posted on : Friday , 2nd September 2016

Kenya, Rwanda sign EPA deal in Brussels

 Kenya and Rwanda have signed the Economic Partnership Agreement with the European Union taking a step closer to the deal whose conclusion is threatened by reluctant member states.   Trade Ministers for Kenya and Rwanda signed the East African Community-European Union EPA agreement in Brussels, Belgium, yesterday.   Tanzania, Burundi and Uganda have shown reluctance to sign the EPA deal on time to pave the way for its ratification by the European Commission on.... Read more »

Posted on : Friday , 2nd September 2016

Rwanda signs deal for new airport construction

 RwandAir today launches its inaugural commercial flight to Benin’s capital of Cotonou (IATA: COO / ICAO: DBBB) operating to the Cardinal Bernadin Gantin International Airport, also known as Cadjehoun International Airport. This marks the start of a long planned expansion of destinations across Africa ahead of the delivery of additional aircraft due for delivery over the coming months which includes the addition of Abidjan at the beginning of October. RwandAir’s hub.... Read more »

Posted on : Friday , 2nd September 2016