Private sector players in the country have appealed to the government to amend the Special Economic Zone Act and the Tanzania Investment Act to enable the country set up modern industrial parks to attract more investments, particularly from China.   The Executive Director of the Tanzania Private Sector Foundation (TPSF), Mr Godfrey Simbeye, made the call in Dar es Salaam yesterday ahead of one-day working visit by China's Foreign Affairs.... Read more »

Posted on : Tuesday , 10th January 2017

Envisaged construction of Kidunda dam in Morogoro to supply water in Dar es Salaam will be implemented as planned despite opposition from conservationists who claim that the project will impact negatively the flow of water in Rufiji River and eventually affect flora and fauna in Selous Game Reserve.   The Minister for Water and Irrigation, Engineer Gerson Lwenge, maintained yesterday that various studies had proved that the project will.... Read more »

Posted on : Tuesday , 10th January 2017

Construction of 359 kilometer Pangale to Mpanda road to tarmac level funded by African Development Bank (AfDB) will speed up economic growth in Tabora and Katavi regions.   Tanzania Regional Roads Agency (TanRoad) Tabora Regional Manager Mr Damian Ndabalinze said the road will open up new investment opportunities to benefit the surrounding societies and the economy. He said the implementation of the road project will also involve bees.... Read more »

Posted on : Tuesday , 10th January 2017

Virtual crime has become an unpleasant reality of our times, leaving not even the field of construction equipment untouched.   Cybercrime comes with significant cost. It was been estimated that the global economic cost of combating cybercrime could reach $400 billion, according to a report entitled “Net Losses: Estimating the Global Cost of Cybercrime”, published by the McAfee Centre for Strategic and International Studies a.... Read more »

Posted on : Monday , 9th January 2017

Antananarivo — Chinese Foreign Minister Wang Yi said here Saturday that China welcomes African countries to join the Belt and Road Initiative.   The initiative was proposed by Chinese President Xi Jinping in hope for common development and common prosperity with countries that identify themselves with this proposal, said Wang at a joint press conference with his Madagascar counterpart.   This proposal is the most important.... Read more »

Posted on : Monday , 9th January 2017

You don't need to have studied the Kigali City Master Plan to figure out the City of Kigali and the government's vision of what the capital and its outskirts are supposed to look like in five years going forward. But to get there, many changes are inevitable.   Like the latest directive from the City of Kigali that affects businesses and non-business entities operating from residential buildings. The City has given them three months to.... Read more »

Posted on : Monday , 9th January 2017

National Mortgage facility for civil servants has provided loans to 391 workers from various ministries and local government authorities worth 4.5bn/- during the 2016/17 fiscal year.   This was said in Dar es Salaam yesterday by the Director for Housing Section in the Ministry of Lands, Housing and Human settlement Development, Michael Mwalukasa, while speaking to journalists on the progress made by the facility. He said since the.... Read more »

Posted on : Monday , 9th January 2017

Egyptian investment firm Qalaa Holdings has confirmed that it is talking to several local and international investors as it seeks to sell its stake in Rift Valley Railways.   The Business Daily on Wednesday reported that a consortium of local firms has made a $133 million bid to buy an 80 per cent interest in the Kenya-Uganda railway from the Cairo-based firm.   "Qalaa Holdings... confirms that preliminary discussions are.... Read more »

Posted on : Monday , 9th January 2017

Nairobi is on the global watchlist of top five fast modernising cities that are attracting new global business on growing realisation that big companies cannot operate from one sub-Saharan location in South Africa.   The city is also taking off as a hub for global corporations looking to establish an office to cover the East African region, according to Global Cities - The 2016 Report by Knight Frank.   Big companies with global.... Read more »

Posted on : Friday , 6th January 2017

The Amhara State collected over 15.4 million Birr for the Grand Ethiopian Renaissance Dam (GERD) construction over the last five months.   Expert with GERD Public Support Mobilization and Coordination Secretariat Gizachew Gidey said the money was raised by civil servants, farmers, and the private sector through bond sales and grants.   Planning to collect over 3 billion Birr, the state secured over one billion so.... Read more »

Posted on : Friday , 6th January 2017

Dar Es Salam — The government has been urged to introduce the Building Code system as a solution for the haphazard and unlawful real estate development in Tanzania.   The coding system was designed by the Architects Association of Tanzania (AAT) and handed over to the government in 2003.   This follows complaints from residents of major urban centres against violation of laws guiding real estate development, risking health,.... Read more »

Posted on : Friday , 6th January 2017

Kampala — The African Development Bank (ADB) board of directors has approved the institution's borrowing programme for 2017, for an amount of $8.4 billion (Shsh30.4 trillion).   The money will be raised from capital markets in African countries by issuing bonds in local currency to finance development projects.   Due to existing large infrastructure deficits, African governments are in need of funds to finance various.... Read more »

Posted on : Thursday , 5th January 2017