ATIDI guaranteed a EUR300 million credit facility provided by Deutsche Bank AG to the Tanzanian government. The facility will finance numerous infrastructure projects that are part of Tanzania's budget for 2022/2023 and are in line with the country's National Development Vision 2025. Insuring Deutsche Bank against non-payment by the Tanzanian government on the loan facility advanced to the ministry of finance, ATIDI provided a seven-year.... Read more »

Posted on : Monday , 31st July 2023

Korea Trade Centre, Nairobi (KOTRA), the Commercial Section of the Embassy of the Republic of Korea, and the Kenyan Government through the Ministry of ICT and the Digital Economy have signed a memorandum of understanding (MoU) to foster and promote partnerships and investments in the development of smart cities in the country. To get things started, the MoU calls for the two countries to construct 5,000 affordable houses. The houses will be.... Read more »

Posted on : Thursday , 29th June 2023

According to recent research by experts, Tanzania's real GDP growth would increase to 5.7% in 2023, up from a projected 5.4% in 2022. According to the Tanzania National Bureau of Statistics' most recent GDP figures, growth in Q322 was 5.2% year on year, up from 4.8% in Q222. The transport and storage industry (which contributed 14.2% to economic growth), agriculture, and mining were key growth drivers. Private-sector investment and a robust.... Read more »

Posted on : Wednesday , 7th June 2023

Turkana County is now planning the construction of 1,200 Housing units. The county government will fund the project, which will benefit all six constituencies. According to the Kenya Urban Support Programme's National Project Coordination Team, led by Eng. Benjamin Njega. Njega was delighted that Turkana Central has access to 20 acres of land from the Lands Department to initiate the project. Additionally, he stated that in order to speed.... Read more »

Posted on : Thursday , 27th April 2023

A Chinese company, Keda Industrial Group, will soon open an architectural glass plant in Tanzania for a total investment of US$86.8 million. When it is finished in about a year, the plant will have a 600-ton-per-year output capacity for architectural glass. The project is a component of Keda Industrial's plan to increase its market share and diversify its offering of materials, including architectural glass, in the African market. The.... Read more »

Posted on : Tuesday , 4th April 2023

The projects will involve constructing a public square and a new stop for the Nairobi Central Railway. Phase 1 of the Nairobi Railway City project, which is anticipated to cost KES12 billion (USD 95 million), has begun construction by Kenya Railways. The project's groundbreaking event took place at the Nairobi Central Railway station in December. The Nairobi Railway City, a multimodal, transit-oriented, and urban development.... Read more »

Posted on : Thursday , 23rd February 2023

 The Tabora-Isaka leg of the Standard Gauge Railway's foundation stone was placed on January 18, 2023 by Tanzania's Vice President, Dr. Philip Isdor Mpango (SGR). The portion is 165 km long (130 km + 35 km of intersections), and it is situated in the Shinyanga area. The parts are being built by the Turkish firm Yapi Merkezi, and they should be finished in March 2026 after a 42-month construction period. Vice President Mpango.... Read more »

Posted on : Tuesday , 31st January 2023

Now is the best time to make an investment in Africa. However, because overseas investment choices are frequently painstakingly overstructured, investors have not rushed to the region as quickly as expected. An important contributory component is too much risk. However, risks and profits go hand in hand; high-risk undertakings are typically correlated with larger earnings. The world's most profitable continent is Africa. According to a.... Read more »

Posted on : Tuesday , 27th December 2022

The move is probably going to help the Sh190 billion project get extra money. The Sh190 billion Nairobi-Mau Summit Highway has received a financing commitment from the International Finance Corporation (IFC), a division of the World Bank, in the amount of Sh40 billion (USD 320 million). The international financier is anticipated to approve the release of the money in the fiscal year 2023–2024 after publishing the project's.... Read more »

Posted on : Tuesday , 27th December 2022

Roads of 103.5 kilometres will be built on the islands of Unguja and Pemba. The Zanzibar government has signed a road development contract with Propav, a UK business, in collaboration with Mwananchi Engineering and Construction Ltd, a Tanzanian company (MECCO). The contract calls for the construction of three highways totaling 103.5 kilometres on Unguja and Pemba Islands. On September 20, 2022, the signing ceremony took place at the.... Read more »

Posted on : Monday , 28th November 2022

The UK government has agreed to invest US$4 billion (KES 500 billion) in Kenya to support the country's efforts to combat climate change.The UK Prime Minister Rishi Sunak met with Kenyan President William Ruto at COP27, agreeing a five-year investment deal that will see climate finance flow into the African country.These new, clean and green investments will become flagship projects of the UK-Kenya Strategic Partnership.The projects include: new.... Read more »

Posted on : Monday , 21st November 2022

The East African regional economies' growth will be sped up by the Japanese International Cooperation Agency's (JICA) commitment to continue helping the Kenya Ports Authority (KPA) upgrade port facilities.   JICA has been a staunch ally of KPA and provided funding for the development of the second container terminal at the Port of Mombasa, which cost Sh32 billion. The second container terminal at the busy port of Mombasa, which is.... Read more »

Posted on : Wednesday , 26th October 2022