Africa Oil Corp. is pleased to announce that it has entered into an investment agreement with Stampede Natural Resources S.a.r.l. ("Stampede"), an entity owned by a fund advised by Helios Investment Partners LLP ("Helios"), to sell, on a non-brokered private placement basis, 52,623,377 of its common shares at a price of CAD $2.31 for gross proceeds of CAD $121,560,000 (US $100 million(1)). Upon completing, Stampede would own approximately 12.37% of the issued and.... Read more »
Posted on : Monday , 25th May 2015
The Bagamoyo EcoEnergy project (BEE Project) north of Dar Es Salaam, the commercial capital of Tanzania is looking for new investors for the project.
Posted on : Saturday , 23rd May 2015
Arusha — TANZANIA has started manufacturing special cars and going to the extent of exporting them to as far as South Africa and Europe.
The Arusha-based factory, Hanspaul Automechs Limited, which fabricates specially designed 'Safari' vehicles, has started exporting its products, popularly known as 'War Buses' to the neighbouring country of Kenya, South-Africa and European countries.
Vice-President, Dr Mohamed Gharib Bilal, recently presented the.... Read more »
Posted on : Saturday , 23rd May 2015
SELF driving cars which may come to Tanzania by 2027 will help reduce deaths on local roads, experts from an online car marketing portal, Carmudi Tanzania Limited said.
In a statement, Carmudi said although the idea of a self driving car seems to be distant for the local market which is one of the most deadly when it comes to driving in Africa.
"In addition to cutting costs, self driving cars can save lives. The majority of crashes in Tanzania are .... Read more »
Posted on : Saturday , 23rd May 2015
Flintstone Engineering, a little known Ethiopian firm, is targeting the Tanzanian market, thanks to a programme run by the German Technical Cooperation (GIZ).
Currently, the company is undertaking a USD 3.5m National Housing Corporation project in Tanzania, said Flintstone founder and Chief Executive Officer, Moges Tadese.
“In Tanzania we have only one project which we are doing alone and a second one with almost equivalent size which is a joint v.... Read more »
Posted on : Saturday , 23rd May 2015
Aliko Dangote, the owner of Dangote Cement announced that the new Tanzania factory is ready to start production by August 2015.The company who is the largest manufacturer of cement in the African continent is building a USD 500 million factory in southern Tanzania with an annual capacity of 3 million tonnes.
Posted on : Friday , 22nd May 2015
The World Bank (WB) recently approved to grant USD 45 million to improve the socioeconomic impacts of Tanzania large and small-scale mining.
Posted on : Friday , 22nd May 2015
Tanzania International Petroleum Reserves Limited (TIPER) will invest USD11 million to increase its fuel storage capacity from 141,000 cubic metres to 213,200 cubic metres.
Posted on : Friday , 22nd May 2015
Serenus Biotherapeutics, Inc., a specialty biopharmaceutical company bridging the divide between the world’s leading pharmaceutical markets and the growing demand for access to innovative therapies in the emerging nations of Africa announced it had secured investment of up to $43 million from Malin Corporation plc, an Ireland-based global life sciences company focused on healthcare.
Under the terms of the agreement, Malin will purchase a 41 percent stake in Sere.... Read more »
Posted on : Friday , 15th May 2015
The plastic subsector is expected to grow by seven percent over the next ten years, just as a positive outlook is projected for the packaging industry due to increased market demand and sophistication of the Nigerian consumers.
Also, imports of food processing and packaging machinery witnessed an increase of €331 million in 2013, compared to €198 million in 2010, Managing Director, Fairtrade, Mr. Martin Marz, said this at the just concluded Agrofood & Pl.... Read more »
Posted on : Wednesday , 13th May 2015
Enhancing partnerships with a view to boosting private sector as the driving force for sustainable and inclusive growth in Africa is one of the main priorities for the African Development Bank's Private Sector Department (OPSD) and the International Finance Corporation (IFC).
For this reason, the African Development Bank hosted a high-level delegation from the IFC for two days of meetings on May 6 and 7, 2015 in Abidjan, to deepen relationships between the two institu.... Read more »
Posted on : Wednesday , 13th May 2015
A private cargo handling and logistics company, DSM Corridor Group Ltd, has started construction of a dry port in Kisarawe district, 40km from Dar es Salaam port. The project will cost a total Tsh32.8 billion ($17 million).
According to DSM chief executive officer Erik Kok, the move is aimed at reducing congestion at the Dar es Salaam port.
“The multipurpose dry port is approximately 100,000 square metres; at the moment; we have started developing.... Read more »
Posted on : Monday , 11th May 2015
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