Tanzania, China Bolster Diplomatic Trade Ties

AS trade relations between Tanzania and China continue to grow, the former is planning to open up another consulate in China's financial hub-Shanghai. Already, Tanzania has a consulate in Guangzhou, which is operating under the coordination of the Embassy situated in Beijing which is the administrative capital of China. This was revealed on 20th June 2022 by the Director General of African Affairs in the China Ministry of Foreign Affairs, Wu Peng during an exclusive.... Read more »

Posted on : Friday , 1st July 2022

Tanzania Exports Up by 20% in YE March 2022, Tourist Arrivals Almost Doubled

The Bank of Tanzania (BOT) Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to USD 10,214.6 million during the year ending March 2022. This is +20.14 percent higher than US$ 8,502.1 million in a similar period in 2021. Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts. Exports of goods rose by 7.8 percent to USD 6,882.2 million, with traditional and.... Read more »

Posted on : Friday , 1st July 2022

AfricaConnect a Digital Initiative by Yara Tanzania.

One of the top importers, makers and distributors of fertiliser in the nation, Yara Tanzania, has introduced the AfricaConnect Initiative, a particular digital innovation aimed at rice farmers all over the nation. Hon. Anthony Mavunde, the Deputy Minister for Agriculture, praised Yara Tanzania during the introduction of the project for its ongoing efforts to provide various digital solutions for farmers and traders. "Your basic business is the importation, manufacture, and.... Read more »

Posted on : Tuesday , 28th June 2022

UK's investment initiative to rejuvenate Kenya's agricultural sector

Farmers in Kisumu can now sigh with relief as the County Government unveiled a major agriculture investment programme designed to revive the industry in collaboration with a UK-based company, United Green Group (UG). The sustainable agri-food initiative would give the local farmers access to agro-industrial infrastructure, farming services, and sustainable agricultural practises. Consequently, new markets for the farming communities in the Lake Basin region are developed, greatly.... Read more »

Posted on : Tuesday , 28th June 2022

In Africa, the recycling of plastic trash is picking up steam.

Food and beverage packaging is an important element of modern living, since it helps to assure food safety and prevent waste. However, the globe faces a packaging problem that demands a global solution. Coca-Cola Beverages Africa (CCBA), in collaboration with The Coca-Cola Company, has set ambitious goals to collect one bottle or can for every one it produces by 2030, use 50 percent recycled content in all packaging by the same year, and make 25 percent of its packaging reusable by.... Read more »

Posted on : Tuesday , 28th June 2022

Ethiopian Ambassador Meets Toyota Tsusho Corp Officials to Discuss Investment

Tefera Derbew, Ethiopia's Ambassador to Japan, met with Toyota Tsusho Corporation executives to examine business potential in the East African country. The ambassador met with Kazumasa Kimura, Executive Officer for New Business Development Africa Division COO of Toyota Tsusho Corporation, and Hiroumi Ohara, Manager of the Africa Division's power and infrastructure section. According to a statement from the embassy, Ambassador Tefera lectured Toyota Tsusho Corporation.... Read more »

Posted on : Tuesday , 28th June 2022

MetroTrans East Africa invests Sh389m in a fleet of FUSO buses

MetroTrans East Africa has spent Sh389 million on a fleet of 80 new FUSO buses in an effort to reduce public transportation demand in Kenya. The venture is a leasing partnership between National Bank of Kenya (NBK) and Simba Corporation as they attempt to address the increasing demand for public transportation as the population grows. Nairobi now has around three million residents and a daily population of 4.5 million people who must travel through the city. MetroTrans.... Read more »

Posted on : Tuesday , 28th June 2022

Proparco of France buys Sh3.7bn Naivas Supermarket stake

French sovereign wealth fund Proparco has acquired a $31.5 million (Sh3.7 billion) stake in supermarket chain Naivas as part of a consortium that will take a combined 40 percent ownership in the retailer. Naivas had earlier announced that Proparco, Mauritian conglomerate IBL Group, and German sovereign wealth fund DEG were taking a minority interest in the company without disclosing the details of the proposed transaction including the stake to be purchased. They are.... Read more »

Posted on : Tuesday , 28th June 2022

Tanzania Government Signs Natural Gas Deal with Shell and Equinor

The Government of Tanzania has signed a liquefied natural gas (LNG) framework agreement with energy giants Equinor and Shell, Reuters reported. The signing of the deal will expedite the start of the construction of a $30bn LNG export terminal. The deal is expected to pave the way for a final investment decision on the $30bn LNG export terminal by year 2025, the news agency quoted Tanzania’s Energy Minister January Makamba as saying. The facility, which is planned to.... Read more »

Posted on : Monday , 27th June 2022

Kenya’s Plan to Call The Shots in LPG Logistics

Kenya seeks to dominate in the supply of LPG by constructing the biggest import and storage gas facility in Mombasa and licensing more private companies to compete with Tanzania which has dominated the business for years in the region. The announcement to construct a 25,000 tonnes storage facility by the Kenya Pipeline Company (KPC) which will connect to the Sh42 billion new Kipevu Oil Terminal 2 (KOT) at the port of Mombasa comes few days after Kenya banned imports of gas from.... Read more »

Posted on : Monday , 27th June 2022

Kiambu Businesses to Benefit from Street Lighting Project

Business in Kiambu County is set to receive a major boost following plans to erect over 20,000 street lights through an ambitious programme by a gubernatorial aspirant.Through his 24-hour economy blueprint, Thika MP Patrick Wainaina plans to put into action a programme that will make it easier for business people to transact and minimise security risks.Wainaina said he will work closely with Kenya Power and Lighting Company to achieve the scheme while installing electricity poles at.... Read more »

Posted on : Monday , 27th June 2022

East African countries are involved in a USD 8 billion investment agreement.

From agreements signed during the 2021 African Investment Forum, East African governments would collectively benefit from investments totaling at least USD 8.77 billion in transportation, healthcare, energy, and agriculture, among other areas. The African Development Bank (AfDB) organised the three-day conference in collaboration with other financial institutions including the Africa Export-Import (Afrexim) Bank and the African Finance Corporation, and 43 investment projects.... Read more »

Posted on : Thursday , 23rd June 2022