Market News Page No. 331| Africa Business News | Afrotrade

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Tanzania: Investment Centre Targets U.S.$5 Billion FDI Inflows By 2020

Dar es Salaam — The Tanzania Investment Centre (TIC) is targeting to more than double foreign direct investments (FDI) inflows to $5 billion in 2020. The World Investment Report 2015 indicates that Tanzania had attracted $2.1 billion FDI inflows but the state-owned agency says it targets $5 billion by 2020. However, according to the TIC acting director of research, planning and information systems, Mr Ayubu Sizya, the.... Read more »

Posted on : Monday , 22nd August 2016

Kenya says visit by Japanese PM to boost ties

Kenya said Sunday the forthcoming visit by Japanese Prime Minister Shinzo Abe to Nairobi is expected to boost bilateral ties between the two countries. State House spokesman Manoah Esipisu said after attending the Tokyo International Conference on Africa's Development (TICAD) VI which begins on Aug. 27, Abe will hold meetings on Kenya-Japan relations. He said Abe is being accompanied by a large delegation of Japanese business.... Read more »

Posted on : Monday , 22nd August 2016

Africa: Government Eyes Major Oil Trading Hub in Tanga

The government is studying possibilities of constructing an oil trading hub in Tanga to supply fuel to East and Central Africa, adding to the region's blessings after it was chosen for the proposed Uganda crude oil export pipeline this year. The Minister for Industry, Trade and Investments, Mr Charles Mwijage, said this week that the government had started working on an idea of an oil trading hub in Tanga as the region had great.... Read more »

Posted on : Monday , 22nd August 2016

DUPONT PIONEER TO EXPAND CORN PRODUCTION IN AFRICA

DuPont Co.'s Pioneer unit hopes to expand its hybrid corn seed partnership with African governments and aid groups to Tanzania after setting up programs for farmers to use its seed in Ethiopia and Zambia. In Ethiopia the Wilmington, Delaware-based company, the biggest supplier of hybrid corn seeds in Africa, in 2013 partnered with the government and the U.S. Agency for International Development and there are now 300,000.... Read more »

Posted on : Monday , 22nd August 2016

Tanzania in efforts to reduce greenhouse gases: official

Tanzanian authorities said on Friday they have come up with a number of climate change mitigation strategies, including reducing greenhouse gases by between 10 and 20 percent by 2030. "These strategies are intended to make our contribution to the global mitigation agenda," said Freddy Manyika, an environment officer from the country's Vice-President's Office. He told a press conference in the country's coastal.... Read more »

Posted on : Monday , 22nd August 2016

Tanzania: Plans Underway to Increase Oil Importers

THE government is in plans to widen the scope of companies importing oil in the country in order to create business competitiveness environment that will necessitate reducing the price of oil. The statement was made here yesterday by the Minister for Energy and Minerals, Prof Sospeter Muhongo when he visited GBP Oil Company in Tanga city. He said currently the price of oil in Tanzania is still higher in comparison with the.... Read more »

Posted on : Monday , 22nd August 2016

Kenya: Chinese-Built Highway Delights Kenyans, Stimulates Business

Nairobi — Before the Kenyan government mooted plans to expand Thika Road in 2009, commuters would waste hours on traffic gridlock. Many commuters wished for the day the road would be traffic jam-free so that they would cut down on time and fuel. Since completion of the 50km highway that links Nairobi and the satellite town of Thika, residents living along the road, which has since acquired the name of Thika Super.... Read more »

Posted on : Monday , 22nd August 2016

Kenya to speed up creation of special economic zones

Kenya said it will speed up the creation of special economic zones (SEZ) as part of efforts to attract more investment and increase exports. “It’s in the interest of government and the private sector to move with speed to establish the Special Economic Zones which will be a critical driver in the attraction of investments in manufacturing, trade, logistics and services,” Cabinet Secretary in the Ministry of Industry,.... Read more »

Posted on : Monday , 22nd August 2016

Kenya: New Sh10 Billion International Airport to Be Constructed in Embu

A Sh10 billion international airport is set to be built in Embu, Governor Martin Wambora has announced. Mr Wambora said his administration was working with the national government to extend the airstrip at Don Bosco and transform it into international standards. A group of foreign investors, he said, had agreed to elevate the airstrip for commercial purposes. He said a concept paper was already being worked on by the.... Read more »

Posted on : Monday , 22nd August 2016

Kenyan experts say China-funded modern railway to hasten growth

The Chinese-funded Standard Gauge Railway (SGR) project will speed up economic transformation in Kenya and the larger eastern African region through increased cross-border trade, investments and easy mobility of skilled personnel, experts told Xinhua in recent interviews. China's Exim Bank has provided 90 percent of financing to support implementation of the 472 kilometer high-speed railway that will link the port city of Mombasa to.... Read more »

Posted on : Saturday , 20th August 2016

Kenya: Construction of Sh5.5 Billion Situ Village Project Begins

The construction of a Sh5.5 billion exclusive gated community offering a live, work and play environment has started in Karen, Nairobi. Two weeks ago, Cytonn, a leading real estate developer, broke ground at the construction site of Situ Village in Ololua Forest. This is one of the firm's over Sh73 billion real estate projects in the pipeline. Sitting on a 29-acre piece of land bordering the Ololua Forest, Situ Village.... Read more »

Posted on : Friday , 19th August 2016

Tanzania: Firm Installs Solar Power at Children's Centre

Shinyanga — A firm has donated and installed solar panels worth Sh75.88 million at Buhangija Centre for children living with albinism Speaking to The Citizen on Wednesday, CSI Electrical Limited official Joan Kahwa, said the donation was part of the firm's community support programme. Ms Kahwa said "In a move to reduce the electricity bills significantly, we felt that there was an urgent need to improve security.... Read more »

Posted on : Friday , 19th August 2016

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