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Low cost airline Fastjet makes further changes to its market offering

By: Rebecca Campbell     6th August 2018 Pan-African low cost carrier Fastjet (which operates under the brand fastjet) is continuing its programme of optimising its services, routes, and fleet, it reported on Monday. The aim is to restore its financial health, ensure it becomes a sustainable going concern, and thereafter achieve... 

Tanzania wants to build pipeline to pump gas to Uganda

By: Reuters     6th August 2018 Tanzania wants to build a pipeline to pump natural gas to neighbouring Uganda, another step in the two countries' bid to expand energy cooperation. State-run Tanzania Petroleum Development Corporation (TPDC) said on Monday that the pipeline would start from its capital Dar es Salaam, then pass... 

Success of Africawide free trade area will partly rest on world-class infrastructure

By: Creamer Media Reporter      3rd August 2018 The construction industry - a key partner in the economic integration of the continent envisaged by the African Continental Free Trade Area By Mokate Ramafoko, PPC Managing Director: International Operations 

Tanzania targets setting up mineral exchange by end of 2018

By: Bloomberg     26th July 2018 Tanzania plans to establish a minerals exchange by the end of this year, in a bid to ensure the East African nation reaps the most from its resources, Minerals Minister Angellah Kairuki said. The nation’s resources including gold, diamonds, iron, silver, copper, graphite and other rare earth... 

Companies urged to accelerate carbon cuts

By: Kim Cloete     8th June 2018 South Africa needs to speed up its efforts to cut carbon emissions in tune with a more sustainable future, say analysts. Joanne Henstock, Africa Executive Director for Governance, Integrated Reporting and Sustainability at EY, says South Africa faces significant challenges in achieving its... 

Tanzania charges telecoms executives with fraud in tax evasion crackdown

By: Reuters     7th June 2018 Tanzanian prosecutors on Wednesday charged two chief executives of mobile phone companies and four other suspects with fraud as part of a crackdown against tax evasion in the East African nation. The executives charged were Le Van Dai, 35, managing director of Halotel Tanzania, owned by... 

Tanzania remains power hungry despite 240 MW plant commissioning

By: John Muchira     27th April 2018 Tanzania has achieved a major electricity generation milestone with the recent commissioning of a $345-million gas-fired power plant. The new plant, Kinyerezi II, with an installed capacity of 240 MW, was constructed by Japanese company Sumitomo and is one of the many power projects Tanzania is... 

Minigrid research, development fund launched for sub-Saharan Africa

By: Anine Kilian     24th April 2018 Investment firm CrossBoundary, in partnership with The Rockefeller Foundation, on Tuesday launched the Mini-Grid Innovation Lab, in Nairobi, Kenya. The lab is the first research and development fund for sub-Saharan Africa that focuses exclusively on testing business model innovations in the... 

Tanzania names chairperson for new mining commission

By: Reuters     19th April 2018 Tanzanian President John Magufuli on Wednesday appointed a chairperson and commissioners for the country's new mining commission, paving the way for the issuance of new mining licences. Africa's fourth-largest gold producer is seeking a bigger slice of the pie from its vast mineral resources by... 

Investment in Africa’s ports, shipping sector can accelerate economic growth

By: African News Agency      12th April 2018 More strategic investment in Africa’s ports can accelerate growth and development by strengthening trade as these are gateways for 80% of merchandise trade by volume and 70% by value, globally. This is according to an analysis report of port development in sub-Saharan Africa (SSA) issued by the... 

Vodacom Tanzania picks Safaricom executive as its new managing director

By: Reuters     10th April 2018 Vodacom Tanzania on Monday named Safaricom's head of consumer business as its new managing director to lead the company that listed in Dar es Salaam last year amid government efforts to expand local ownership of the industry. Sylvia Mulinge, who has been at Safaricom since 2006, will take over on... 

New study to assess electrification of Rwanda, Tanzania rail project

By: John Muchira     6th April 2018 Tanzania and Rwanda face the daunting tasking of mobilising funding for a standard-gauge railway (SGR) line connecting the two countries, following a decision to review the project's design so that electric, rather than diesel-powered, trains run on the line. The initial project cost was... 

Tanzania internet users hit 23m; 82% go online via phones – regulator

By: Reuters     23rd February 2018 The number of internet users in Tanzania rose by 16% at the end of 2017 to 23-million, with the majority of those using their handsets to go online, the telecom industry regulator said on Friday.    Mobile phone use has surged in Tanzania and other African countries over the past decade, helped... 

Tanzania's new mining rules impose restrictions on foreign banks, insurers

By: Reuters     21st February 2018 Foreign-owned banks, insurance companies and law firms could be locked out of Tanzania's mining sector as part of tough new regulations that aim to limit foreign ownership of mining-related activity. Africa's fourth-largest gold producer is seeking to take more of the profits from its vast... 

Tanzania lays down the law on local participation in mining sector

By: Anine Kilian     7th February 2018 The mining industry in Tanzania is adopting a wait-and-see approach following the government’s sweeping changes to mining regulations, aimed, in part, at ensuring sovereign ownership of the country’s natural resources. Over the past 12 to 18 months – and as recently as last month – there has been... 

Multinational initiative stimulating intraregional East African trade

By: Rebecca Campbell     2nd February 2018 The multinational TradeMark East Africa (TMEA) initiative has been bearing fruit and, with its first phase having proved a success, it is now moving into its second phase. TMEA involves Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda, and is focused on promoting trade between the... 

Volt proceeds with $40m Tanzania bond issue

By: Mariaan Webb     14th December 2017 Tanzania-focused flake graphite development company Volt Resources said on Thursday that it would proceed with the issue of $40-million structured debt funding to complete the Stage 1 development of its Bunyu graphite project. The company has engaged Exotix Capital to undertake a Tanzania bond... 

Volt seeks to raise $30m for Bunyu Stage 1 development

By: Creamer Media Reporter      25th October 2017 ASX-listed Volt Resources has appointed Exotix Capital to undertake a bond issue to raise up to $30-million in structured debt to fund the Stage 1 development of Volt’s Bunyu graphite project, in Tanzania. Exotix will act as structuring, financial and placement adviser and will leverage its... 

Strandline starts financing talks for $30m Tanzania mineral sands mine

By: Esmarie Swanepoel     5th October 2017 The Fungoni heavy mineral sands project, in Tanzania, has been priced at $30-million to develop into a two-million-tonne-a-year operation. ASX-listed Strandline Resources on Thursday reported that the definitive feasibility study (DFS) for the Fungoni project estimated that 302 300 t of saleable... 

Financial collaboration across African borders enables Dutch construction group’s projects

28th September 2017 Rand Merchant Bank (RMB) has successfully closed a new US$20million letter of credit and performance bond facility for BAM International, a wholly-owned subsidiary of the Royal BAM Group, the largest construction company in the Netherlands. The facility is required to facilitate BAM’s... 

Tanzanian leader's war for taxes puts economy in firing line 

By: Bloomberg     18th September 2017 Tanzanian President John Magufuli’s deepening dispute with companies he accuses of being tax cheats is rattling investors and dimming the allure of one of Africa’s fastest-growing economies. Since taking office in late 2015, Magufuli has been on a drive to increase revenue from natural resources... 

Tanzanian ministers implicated in diamond-mining probe quit

By: Bloomberg     8th September 2017 Two Tanzanian ministers resigned after President John Magufuli told government officials suspected of wrongdoing in an investigation into the nation’s diamond- and Tanzanite-mining industries to step down. Edwin Ngonyani, a deputy minister of works, transport and communication, said he resigned... 

Infrastructure key to unlocking trade and value chains across SADC region

By: Anine Kilian     25th August 2017 It is common cause that industrialisation across the Southern African Development Community (SADC) region is key to diversifying the regional economy away from its current reliance on the export of raw commodities and to supporting economic growth and employment creation. There is broad... 

Infrastructure initiative garners support from nine African presidents

By: Natasha Odendaal     21st August 2017 Spearheaded by South Africa’s President Jacob Zuma, the Presidential Infrastructure Champion Initiative (PICI), aimed at accelerating regional trade and unlocking the economic potential of the continent, now has nine African presidents on board, with ten projects in the spotlight as Africa... 

Clyde & Co further expands its insurance footprint in South Africa with key partner hires

8th August 2017 Global law firm Clyde & Co has today announced the appointment of Deon Francis and Reshana Pillay as Partners in its leading insurance practice in South Africa. They will be based in Johannesburg. Deon and Reshana both join from Hogan Lovells, where they have built successful self-standing... 

Tanzania President urges increased control of mineral wealth

By: Bloomberg     26th July 2017 Tanzanians are being cheated out of the country’s mineral wealth and should take more control of their natural resources, President John Magufuli said. Investors in Tanzania’s mining industry have “stolen” from the country by failing to provide a fair share of the revenue they generate from gold... 

Acacia gets almost $200bn adjusted Tanzanian tax assessments

By: Henry Lazenby     24th July 2017 The Tanzania Revenue Authority (TRA) has issued two Acacia Mining subsidiaries with adjusted tax assessments totalling nearly $200-billion in alleged unpaid taxes, penalties and interest owed. This is the latest blow to the operator, whose first-half performance this year was severely impacted by... 

Tanzania concentrate export ban weighs on Acacia’s H1 performance

By: Natasha Odendaal     21st July 2017 Tanzania’s ongoing concentrate export ban, implemented in March, has significantly impacted on LSE-listed Acacia Mining’s results for the first six months of the year. Despite delivering its highest-ever first-half production levels during the period to June, Acacia now expects production to stay... 

Tanzania's President Magufuli says signed new mining Bills into law

By: Reuters     10th July 2017 Tanzania's President John Magufuli said on Monday he had signed into law three Bills passed by Parliament last week, that pave the way for a rise in royalties for gold and other minerals and an overhauling of contracts in the sector. "I would like to thank Parliament for making the legislative... 

Acacia Mining confirms start of negotiations with Tanzania govt

By: Megan van Wyngaardt     15th June 2017 Tanzania-based gold miner Acacia Mining’s CEO Brad Gordon on Thursday said the company would leave any disputes around back taxes for resolution during negotiations with the country’s President John Magufuli. During a teleconference, he added that the company was not prepared to comment on... 

Tanzania says Barrick agrees to pay money owed to government

By: Bloomberg     14th June 2017 Tanzania’s presidency said Barrick Gold Corp is willing to reimburse money that’s owed to the government, after President John Magufuli accused subsidiary Acacia Mining of failing to pay billions of dollars of taxes. Acacia surged as much as 11%. Barrick executive chairperson John Thornton met... 

Tanzania's Acacia spat shows deepening battle with business

By: Bloomberg     14th June 2017 Tanzanian President John Magufuli’s escalating battles with business risk alienating the very investors he needs to drive his multi-billion dollar industrialization policy. On Monday, the 57-year-old leader ratcheted up his dispute with miners by accusing Acacia Mining Plc of operating illegally... 

Acacia Mining calls for independent investigation into its Tanzanian gold concentrate exports 

By: Megan van Wyngaardt     13th June 2017 LSE-listed Acacia Mining on Tuesday called for an independent investigation into its resources and finances, following a report by a second Tanzanian Presidential committee, which claimed that the company had underdeclared its revenues and tax payments, “stretching into the tens of billions of... 

Tanzanian govt accuses Acacia of mining gold illegally

By: Bloomberg     12th June 2017 Tanzania’s government accused Acacia Mining of operating illegally in the East African country and said mining companies have been evading taxes. Acacia’s shares slumped. “The committee has established that Acacia Mining has been conducting its mining business here in Tanzania contrary to the... 

Construction costs in Johannesburg set to rise 7.5%

By: Megan van Wyngaardt     8th June 2017 Johannesburg has been ranked fourth among the top five global cities where construction costs will increase over the next year, with the cost of construction set to rise about 7.5% over 2017/18, against a global average of 3.5%, professional services company Turner & Townsend’s ‘International... 

Sub-Saharan Africa middle class represents R1.3tr a month market

By: Megan van Wyngaardt     19th May 2017 A University of Cape Town (UCT) Unilever Institute of Strategic Marketing initiative, the African Lions research project, has established that the sub-Saharan African middle class, comprising around 100-million people, represents a R1.3-trillion a month market and is growing. Carried out... 

Technology improved on cranes for efficient operation  

By: Victor Moolman     7th April 2017 Technological advancements over the years have meant Midrand-based tower cranes and lifting solutions company SA French has been able to install trackers on its crane fleet, ensuring more efficient operations during construction projects. 

Mikono Expo Group will Host the Dar Construction Trade Expo and the East Africa Smart Building Summit 2017 in Dar es Salaam,Tanzania!!

15th March 2017 Tanzanian based company Mikono Speakers under her sister company Mikono Expo Group, which operates in Tanzania, South Africa and other African nations, is hosting the Dar Construction Trade Expo 2017. This esteemed event will take place along with the East Africa Smart Building Conference. More... 

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