Dar es Salaam — Investors with Tanzania's two listed cement manufacturing firms are rubbing their hands in glee as the companies' boards of directors propose increased dividend payments from 2015 proceeds despite facing bitter competition from new markets entrants.   The board of directors for Tanzania Portland Cement Company Limited (trading as Twiga) has proposed a Sh306 per share which is 14.6 per cent increase from the Sh267.... Read more »

Posted on : Thursday , 14th April 2016

Real estate and investment firm Cytonn has begun construction of its Sh2.5 billion lifestyle community in Ruaka on the outskirts of Nairobi.   The Alma, which is to be completed within three years, is targeting the middle to lower-middle income class with discerning tastes for modern day apartments.   Cytonn is offering the 1, 2 and 3 bedroom apartment options for potential buyers.   "Our deal pipeline serves the.... Read more »

Posted on : Wednesday , 13th April 2016

A team chaired by Deputy President William Ruto now wants governors to be given Sh8 billion for the construction and maintenance of county roads after they were denied funds in the Division of Revenue Bill, 2016.   The Intergovernmental Budget and Economic Council (IBEC), which brings together the two levels of government, has proposed that the allocation be included in the Bill, which is currently before the Senate, after being passed by.... Read more »

Posted on : Wednesday , 13th April 2016

Kabale — Prime Minister Ruhakana Rugunda has cautioned contractors not to delay completion of government projects, especially in the road sector.   Dr Rugunda, who was last Friday presiding over a ground-breaking ceremony for the construction and tarmacking of three feeder roads in Kabale Municipality, said delayed government projects not only increase the cost of such projects but also delay delivery of services to the people who.... Read more »

Posted on : Tuesday , 12th April 2016

Mombasa Cement Ltd plans to invest Ksh7.3 billion ($73 million) to expand the factory's production capacity.   The company is eyeing the market created by construction boom in East Africa and other countries in the larger region.   The investment in a new clinker and cement unit is expected to ease pressure on prices, which dropped to $7 per 50 kilogramme bag from $8 in 2014.   The firm now has a unit each for clinker and.... Read more »

Posted on : Monday , 11th April 2016

Lagos — Vice President Yemi Osinbajo says the Federal Government will soon commence work on 31 major roads across the country in its drive to develop infrastructure and grow the economy.   The vice president stressed the need for collaboration among states of the federation in order to stimulate the economy, just as he attributed the country's economic woes to over-dependence on oil.   Osinbajo who spoke at the Economic.... Read more »

Posted on : Saturday , 9th April 2016

Lagos — Dangote Cement Plc is deepening its pan African expansion drive with the commencement of construction of a new 3-million metric ton per annum capacity cement grinding plant in Cote d'Ivoire.   The new project is coming just as the company announced the ground breaking of a new 6-million metric ton per annum Greenfield cement plant in Okpella, Edo state and commencement of work on a 6-million mtpa capacity plant in Itori,.... Read more »

Posted on : Saturday , 9th April 2016

Securing and improving on Nigeria's infrastructure stock through prioritized investments, has again been listed as the pathway to the nation's long-term success and economic revival.   Besides, a new report by The Boston Consulting Group (BCG), said the nation's stock of wealth and assessed potentials has failed to translate into the well-being of the populace.   The report, which analysis was based on Sustainable Economic.... Read more »

Posted on : Thursday , 7th April 2016

Kenya has signed seven memorandums of understanding that will see the country receive upto 250 million euros (Sh28.8 billion).   The agreements were signed after President Uhuru Kenyatta met his French counterpart Francois Hollande for bilateral agreements.   The financing are a culmination of both grants and loans negotiated through the national Treasury to finance several infrastructure projects in the country.   This is.... Read more »

Posted on : Wednesday , 6th April 2016

Construction of the tallest building in Eastern and Central Africa, owned by Tanzania Ports Authority (TPA) will be complete in August.   According to the Director of KM&Archplans (T) Ltd, the lead company of construction consortium, Mr Albert Mwambafu, construction of the building was currently complete by 90 per cent.   He said that upon its completion, the 35-storey building will cost 120bn/-.   Among other things,.... Read more »

Posted on : Tuesday , 5th April 2016

Tanzania Ports Authority (TPA) has finally secured funds for construction of berths 13 and 14 which were on drawing board for almost five years.   The fund, 690 million US dollar, put together by World Bank, DFID and TPA, will enable the much awaited project to take off in 2016/17 fiscal year. TPA's acting Director of Planning and Investment, Gladson Urioh, said the fund will also involve the construction of berth 12 after relocating.... Read more »

Posted on : Tuesday , 5th April 2016

Kenya will start building a new offshore crude oil and refined fuel jetty in October.   The jetty is expected to increase efficiency in delivery of imported refined fuel for Kenya's domestic use and export to Uganda, Rwanda, Burundi and eastern Democratic Republic of Congo.   The Kenya Ports Authority (KPA) plans to build the jetty near Dongo Kundu from October to December 2019 to handle larger tankers and relocate existing Kipevu.... Read more »

Posted on : Tuesday , 5th April 2016