Market News

Regional auto assembly plants can now fully enter the Tanzanian market after the lapse of an East African Community October deadline for Dar to lift a 30 per cent excise duty on locally assembled vehicles.   Previously, Tanzania had complained of some partner states breaching the rules of ori . . .

 The construction of the Lagos Rail Mass Transit construction Project in Nigeria is in good progress. Also known as Blue Line project, the project is expected to ease transport need of the fast growing population in Lagos.The project construction is being supported by the government of the Unit . . .

 Mahindra company from India is planning to open a tractor assembling plant here, Zanzibar President, Dr Ali Mohamed Shein, revealed here yesterday. Dr Shein said negotiations with the Indian company were currently going on. He also disclosed that his government would also purchase 100 tractors . . .

 The  construction of a multi-million dollar new Airport in Nigeria is set to kick off at Ekiti State after a spate of delay. The airport project will be executed on 4000 hectares of land.   The construction project was initially approved in 2009 during the administration of the lat . . .

 German carmaker Volkswagen plans to spend 4.5 billion rand ($343 million) to upgrade its factory in South Africa and improve its supplier base, it said on Thursday. Most of the money would be used to revamp its factory in Uitenhage in Eastern Cape province to produce new models, Thomas Schaefe . . .