Africa won't fall back into 1990s-style debt trap: AfDB

Africa is unlikely to fall into the type of unsustainable debt trap seen in the 1990s despite a spike in borrowing and widening budget deficits, the African Development Bank (AfDB) said on Monday. Falling commodity prices and slowing global growth have hammered African economies in the past year, prompting many governments to sharply increase borrowing, drawing comparisons with the crippling debt trap many countries faced in the 1990s. The AfDB said last week that African.... Read more »

Posted on : Tuesday , 31st May 2016

Ethiopia's Grand Dam Well on its Way to Completion

The people and government of Ethiopia have recently celebrated the fifth year anniversary of the Grand Ethiopian Renaissance Dam (GERD), a multi-billion dollar hydro electric project, being constructed on the Blue Nile river, in the Guba Woreda, Benshangul-Gumuz State. They are cognizant to the fact that constructing the Dam has many fringe benefits to the country's economic growth through providing sustainable cheap power for local consumption as well as for neighbouring.... Read more »

Posted on : Saturday , 21st May 2016

Kenya needs to rethink its regional business strategy

The necessity for the private and public sector to work together to safeguard and grow the country’s economy has never been greater than it is today following recent regional developments. Uganda fired the first shot in what appears a coordinated assault on Kenya’s interests when it decided to tear up its agreement to build a joint crude oil pipeline. The decision has the potential to throw a spanner into regional plans for the construction of the Lamu Port-South.... Read more »

Posted on : Saturday , 21st May 2016

Tanzania-Zambia Railway to be extended to four countries

The Tanzania-Zambia Railway (Tazara) is yet to be extended to four other countries including Rwanda, Burundi, Malawi and Eastern DR Congo as well as to Tanzania’s multibillion-dollar Bagamoyo port.   This is according to Government officials from Tanzania, China and Zambia who met in Dar es Salaam to discuss about the ailing infrastructure link that runs from Dar es Salaam to Kapiri- Mposhi in Zambia.   Rowland Msiska, secretary to the Zambia Cabinet said that the.... Read more »

Posted on : Tuesday , 17th May 2016

Construction of Ethio-Kenya Road almost complete

The construction of  Ethio-Kenya Road  linking Kenya to Ethiopia is set to be completed soon; this is according to The Kenya National Highways Authority (KeNHA).   Regional Director for Eastern Africa Resource Centre of the African Development Bank Group, Mr. Gabriel Negatu confirmed the reports and said that the road which covers 121km of Merille-Marsabit and 122km of Turbi-Moyale will have a very significant impact in regional integration and hence boost trade for.... Read more »

Posted on : Thursday , 12th May 2016

Tanzania: REA Scheme to Give Power to 6000 Villages

THE government has said nearly 6,000 villages will be connected with electricity through the Rural Energy Agency (REA) phase three. Deputy Minister for Energy and Minerals, Dr Medard Kalemani, told a parliamentary committee on Energy and Minerals when giving details of the implementation of REA budget in 2016/2017 fiscal year.   The deputy minister said the implementation of the third phase would kick off after the end of phase II at the end of June this year and that about.... Read more »

Posted on : Saturday , 16th April 2016

Kenya: Portland Cement Seeks Partnership from Govt in Housing Deal

East African Portland Cement Company (EAPCC) may be wooing the government into a real estate deal after the company failed to get approval to sell part of their land last year.   The listed cement maker's chief operating officer Albert Sigei told Lands Cabinet Secretary Prof Jacob Kaimenyi this week that the company was interested in partnering with government to put up low cost housing on its vast properties in Athi River.   "I know you are passionate about low.... Read more »

Posted on : Saturday , 16th April 2016

Tanzania: Dar Committed to Transform to Semi-Industrial Nation

PRIME Minister Kassim Majaliwa has said the government is committed to develop industrial sector as a strategy to boost growth and propel Tanzania to join the league of middle income countries.   The Premier told the Oman Minister for Commerce, Dr Ali Masoud Al Sunaidy in Dar es Salaam yesterday that the government was keen to attract private investments to promote industrialization, export and growth in line with the development agenda of transforming the agriculture economy.... Read more »

Posted on : Saturday , 16th April 2016

Tanzania: B'moyo Port Construction to Create Numerous Jobs

LOCAL companies will benefit from a wide range of job and trade opportunities to be created as construction of the Bagamoyo Port begins next year, a top officer of Oman's State General Reserve Fund which finances the project has said.   Mr Mohamed Al - Tooqi, the SGRF Country Manager said in Dar es Salaam yesterday that many local companies would be sub-contracted for construction works of a 10 billion US dollar (over 20trn/-) port and special economic zone in Bagamoyo, Coast.... Read more »

Posted on : Saturday , 16th April 2016

Tanzania: Tobacco Farmers Set For Bumper Sh45 Billion Harvest

Chunya — Tobacco farmers in Chunya District are hoping for a bumper harvest with projections to rake in Sh45.24 billion in the 2015/16 farming season.   Chairman of the Chunya District Tobacco Cooperative Union (Chutcu) Omary Iswijilo said yesterday a significant number of buyers had already placed orders for the golden leaf.   At a general meeting held by the cooperative, he expressed optimism that despite the myriad problems affecting the farmers, the current and.... Read more »

Posted on : Saturday , 16th April 2016

Ethiopia: Cornerstone Laid For Phase II of Hospital Construction

The cornerstone for the phase II construction of Tirunesh Beijing General Hospital was laid yesterday. The expansion is meant to provide special treatment to patients and would be undertaken on 5,750 square meter.   Health Ministry Health Infrastructure Development Director Mekonnen Engida on the occasion said that the project is intended to give specialized maternal and child medical treatment. It is also aimed at providing residential quarter to hospital staff to facilitate.... Read more »

Posted on : Saturday , 16th April 2016

Kenya: Wheat Imports Increase to Sh35 Billion

Kenya's wheat imports hit Sh35.6 billion last year amid rising concerns by local farmers that millers are overlooking their produce.   The farmers said millers are shunning their crop in favour of imports because oversupply in the international market has driven down wheat prices by more than 30 per cent since last year.   "Millers are no longer buying wheat from farmers since their silos are full of imports," said Mr Anthony Kioko, chief executive of Cereal.... Read more »

Posted on : Thursday , 14th April 2016