The global mood has shifted since Donald Trump’s surprise victory in the US presidential election. Europeans are fretful and Mexicans are panicking but many of the US investors we met in mid-November have become intensely optimistic about the prospects for their own economy. No one is quite sure whether this will benefit emerging markets or not and many Trump supporters probably don’t care. Their vote was to make America great again,.... Read more »

Posted on : Wednesday , 28th December 2016

European Union Commission has transferred the final €10 million disbursement of the €40 million grant for construction of 200 kilometer feeder roads in rural areas to support agriculture activities.   The funding agreement for the total grant was signed back in 2013 for the refurbishment of 700 kilometers of road network.   According to officials, most of the roads were rehabilitated, leaving only 200 kilometers to be.... Read more »

Posted on : Friday , 23rd December 2016

Aim-listed Kibo Mining has awarded the Engineering, Procurement and Construction (EPC) contract for the construction of the power plant element of the Mbeya coal-to-power project (MCPP) to Chinese contractor, SEPCO III.   Located in Tanzania, the MCPP includes a 250 - 350 MW mine mouth power plant. "Signing the EPC Cover Agreement is the most decisive step forward to date in the development of the MCPP," said Kibo's CEO, Louis.... Read more »

Posted on : Thursday , 22nd December 2016

Sumbawanga — Chief Justice Mohamed Chande Othman said here that the 12.3bn/- given to the judiciary by President John Magufuli for building and rehabilitating courts has enabled ten districts to have modern buildings.   The Chief Justice revealed this when he met Rukwa Regional Commissioner (RC) Zelothe Steven and when he addressed court senior workers from Rukwa and Katavi regions during a meeting held here. He said the ten court.... Read more »

Posted on : Wednesday , 21st December 2016

The following five years will see the manufacturing sector grow by 30%, the Chairperson of the Private Sector Federation, Benjamin Gasamagera, has said.    Gasamagera, who was talking at the opening of the second edition of Made-in-Rwanda show at Expo Grounds in Gikondo, recommended that for Rwandan products to be more competent, a few more measures need to be taken.    "The Government should give Made-in-Rwanda.... Read more »

Posted on : Wednesday , 21st December 2016

One of the resolutions adopted during last year’s 13th edition of the National Dialogue Council (Umushyikirano) was to chart a new development plan, dubbed ‘Vision 2050,’ that would propel the country to socio-economic self-reliance.   And, according to Prime Minister Anastase Murekezi, the Government has already drafted the key elements for the vision.   The plan will be about building on the achievements of the.... Read more »

Posted on : Wednesday , 21st December 2016

The National Institute of Statistics of Rwanda (NISR) monthly consumer price index (CPI) indicated that Rwanda's inflation rate eased to 6.4 per cent year on year in November, from 7.4 per cent recorded the previous month.   Rwanda uses CPI to measure the average change over time of goods and services bought by households.   The report shows that foodstuff prices were the main drivers of inflation during November, especially.... Read more »

Posted on : Wednesday , 21st December 2016

Trade experts have challenged both the public and private sector to seek new avenues to increase exports to reduce import-export deficit.   The call was made Wednesday during a meeting between the Ministry of Trade, Industry and East African Community Affairs (Mineacom) and various stakeholders.   While many acknowledge that the Government has instituted clear policies to expand the export base, the argument among stakeholders,.... Read more »

Posted on : Wednesday , 21st December 2016

Banana beverage lovers will, beginning mid-2017, start enjoying high quality products from a factory being set up in Mwurire Sector in the Eastern Province's Rwamagana District.   According to the Director General for National Industrial Research and Development Agency (NIRDA), Dr. Joseph Mungarurire, construction works for the factory estimated to cost $1.5 million, started in March, 2016 and its first phase has been completed. It is.... Read more »

Posted on : Wednesday , 21st December 2016

Manufacturers and business experts have called on the government and the private sector to do more to boost Small and Medium Enterprises to significantly bridge the country's trade deficit.   They made the call yesterday during a Made-in-Rwanda Symposium organised by the Private Sector Federation (PSF) in partnership with the Ministry of Trade, Industry and EAC Affairs (MINEACOM).   They contended that effective economies of scale.... Read more »

Posted on : Tuesday , 20th December 2016

Zanzibar — China's MCC Overseas Company has signed a contract to build the Zanzibar Amber Resort in Matemwe Village. The resort will be one of the biggest in the East African region, say project owners.   The signing ceremony, witnessed by dignitaries including Speaker of the Zanzibar House of Representatives Zubeir Ali Maulid, his deputy, Mgeni Hassan Juma, legislators and ministers was held at Park Hyatt Hotel in Stone.... Read more »

Posted on : Tuesday , 20th December 2016

Construction of a multitrillion shilling fertiliser plant with envisaged daily production capacity of 3,850 tonnes is scheduled to start in Kilwa, Lindi Region, by next March. The petrochemical complex, a partnership project under a consortium of investors from Tanzania, Europe and Asia, is among the largest fertiliser investments in the continent.   Permanent Secretary (PS) in the Ministry of Industry, Trade and Investment, Dr Adelhelm.... Read more »

Posted on : Tuesday , 20th December 2016