Market News

The World Bank Group has set aside $100 million to help Tanzania increase transparency and accountability in governance and boost public financial management as the country ramps up a series of major infrastructure projects. The bank said the “first-of-a-kind” ‘open government a . . .

Dar es Salaam. The World Bank, which is one of the financiers for a $596 million (about Sh1.1 trillion) Dar es Salaam Port upgrade, said at the weekend that it is impressed by the ongoing improvements. The World Bank is cooperating with the UK’s Department for International Development and . . .

 Over the past two decades the average investment in infrastructure as a percentage of GDP has hovered around 5 per cent, a much lower ration when compared to growing economies such as China that invest about 9 per cent of their GDP in infrastructure development. This lower ratio is an indicati . . .

 APR Energy is set to provide a gas turbine power plant for an industrial customer in Egypt after landing a €27 Million contract. The leading world Mobile power supplier signed the deal early this week after a competitive tender that attracted many companies to provide a gas turbine power . . .

The Government of Tanzania announced that is currently evaluating a considerable reduction on the Value Added Tax (VAT) on houses in order to boost the investment in real estate in Tanzania and raise living standards. tanzania-vat-real-estateThe reduction on the VAT is aimed at helping low income f . . .