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Thu,23Nov2017

Tanzania

Gas fuels Tanzania, Mozambique growth

Photo©Graham KietzmannMozambique and Tanzania's economic potential has been hard hit by low prices for natural gas, but investors are now looking closer to home for customers.

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Energy: Tanzania's President Magufuli orders officials to speed up LNG project

Tanzania's President John Magafuli. Photo©ReutersTanzanian president John Magufuli ordered officials on Monday to speed up long-delayed work on a planned liquefied natural gas (LNG) plant, saying implementation of the project had taken too long.

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IMF tells Tanzania to curb public spending, urges reforms

Photo©ReutersThe International Monetary Fund told Tanzania on Wednesday to curtail public spending as it seeks to invest in several major infrastructure projects and urged it to implement structural reforms.

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Uganda defends decision to abandon Kenya for Tanzania in oil pipeline construction

File Photo©Sue Ogrocki/AP/SIPAThe government of Uganda defended its decision to construct an oil pipe line through Tanzania, breaking its silence on why it had abandoned an earlier plan to build it through Kenya.

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Swahili language now compulsory in Ugandan schools

File photo©SAYYID AZIM/AP/SIPAThe learning and teaching of Swahili has been made compulsory in Uganda's secondary schools, a move that the East African country believes will promote regional integration within the East Africa Community (EAC).

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Kenya's NIC Bank eyes cheaper deposits to boost margins

Kenya's NIC Bank is doubling its branch network to 50 by the end of next year to recruit new customers, particularly in the small business sector, allowing it to cut its deposit costs and boost margins, its chief executive said.

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Tanzanian stock exchange's IPO oversubscribed nearly five times

Photo©ReutersThe sale of shares in Dar es Salaam Stock Exchange (DSE) to the public was oversubscribed by nearly five times, the bourse said on Thursday.

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Tanzania raises retail fuel prices

Photo©ReutersTanzania's energy regulator raised maximum retail prices on fuel on Friday, citing higher international crude oil and refined product prices, a move expected to exert upward pressure on inflation.

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Tanzania to invest $1.9 bn every year in energy projects by 2025

Photo©Charlie Riedel/AP/SIPATanzania plans to invest $1.9 billion each year by 2025 in energy projects in a bid to end power shortages and boost industrial growth in East Africa's second-biggest economy, its prime minister said.

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Agriculture: Tanzania to start building $3 bn fertiliser plant this year

Tanzania currently imports most of its fertiliser for crops including coffee, sugar and maize. File photo©ReutersTanzania plans to start work this year on a $3 billion fertiliser plant, which it said on Friday will be Africa's largest, as part of an effort to increase its agricultural production.

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Tanzania and Uganda to speed up oil pipeline project

File photo©Peter Komka/AP/SIPATanzania has agreed with Uganda to accelerate implementation of a crude oil pipeline project between the two east African nations and award the construction contract to multiple contractors.

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Tanzania's President Magafuli suspends telecoms chief over revenue loss

Tanzania's President John Magufuli has launched a general tax crackdown. Photo©ReutersTanzanian President John Magufuli suspended the head of the telecoms regulator on Tuesday, saying the watchdog failed to monitor the industry, resulting in the loss of potential tax revenues of 400 billion shillings ($182.15 million) a year since 2013.

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Uganda says Tanzania transit fees for its oil capped at $12.20/barrel

File photo©ReutersUganda said on Tuesday the cost of pumping its crude oil via a pipeline through Tanzania will be capped at $12.20 per barrel although the two had yet to agree a final levy in a project likely to be a public private partnership.

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Uganda's oil pipeline to go through Tanzania

File Photo©Sean Proctor/AP/SIPAUganda says its oil pipeline will run through Tanzania to the Indian Ocean coast for exports. The decision was endorsed by East African leaders, who met in Uganda over the weekend.

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Electricity: The lights come on slowly

Off-grid electricity projects such as pay- as-you-go solar power, are a central area of Power Africa support. Photo©Sven Torfinn/PANOS-REAUS President Obama's hallmark Africa policy seeks to bring electric power to 60m households. But as he prepares to step down, his legacy project is barely revving up.

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Tanzania in public sector payroll "ghost workers" audit

Tanzanian President John Magufuli promised to focus on fighting corruption after taking office in November, 2015. Photo©ReutersTanzanian authorities have launched a national audit to find "ghost workers" and remove them from civil service payrolls under a corruption crackdown ordered by the president, a minister said.

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Climate change: Scientists say time is running out to protect Africa's food supply

Photo©ReutersWithout action to help farmers adjust to changing climate conditions, it will become impossible to grow some staple food crops in parts of sub-Saharan Africa, with maize, beans and bananas most at risk, researchers said on Monday.

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Oil & Gas: Uganda receives seven bids in oil exploration licence round

Uganda has received seven bids for six oil exploration blocks offered in a licensing round and it plans to chose the winners and sign deals by the end of June, the Ministry of Energy and Mineral Development said on Wednesday.

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Banking: Barclays Africa tumbles as British parent signals exit

File Photo©ReutersSpeculation that Barclays could be withdrawing from Africa after almost a century there sent shares in its business Barclays Africa Group tumbling on Monday.

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Tanzania: African Development Bank approves $1.1bn in loans

Photo©ReutersThe African Development Bank (AfDB) has approved a loan package worth $1.1 billion to Tanzania to be paid out over five years to fund infrastructure projects and improve public sector governance, it said.

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