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Tanzania to cancel licenses for undeveloped mineral sites

By: Bloomberg     23rd January 2019 Tanzania intends to cancel permits for mineral sites belonging to large-scale miners that remain undeveloped and will allocate the licences to smallholders, President John Magufuli said. The announcement comes amid a tax dispute between the state and Acacia Mining, in which the government is... 

Cape Town’s WhereIsMyTransport expands to Latin America, India

By: Irma Venter     22nd January 2019 Public transport data and technology company WhereIsMyTransport has raised $1.85-million in funding from Liil Ventures and Goodwell Investments, as part of its Series A funding round. The funding will support the company’s expansion into Latin America and India. 

Tanzania's Magufuli wants central bank to buy gold as part of its reserves

By: Reuters     10th January 2019 Tanzanian President John Magufuli said on Wednesday the central bank should start buying the country's gold to curb smuggling and build reserves to stabilise the currency. On Tuesday, Tanzania named its third mining minister since Magufuli was elected in 2015. The mining sector contributes around... 

Air Tanzania becomes first African-based Airbus A220 operator

By: African News Agency      21st December 2018 Air Tanzania as become the first African carrier to take delivery of the Airbus A220 aircraft, the newest addition to the Airbus family of commercial aircraft, the companies said on Friday. Representatives from the airline as well as Tanzanian government officials alongside executives from the... 

There is room for more ride-hailing services, says Taxify country manager

By: Irma Venter     23rd October 2018 Taxify believes there is room for another electronic ride-hailing service in South Africa. US-based Uber started operations in South Africa in 2013, with Estonia’s Taxify moving into the country in 2016. 

Edenville submits RfQ documentation to Tanesco

By: Tasneem Bulbulia     22nd October 2018 Edenville Energy, which is developing a coal project in south-west Tanzania, has submitted the required documentation to Tanzania Electricity Supply Company (Tanesco) in relation to the utility’s request for qualification (RfQ) for coal-fired power generation projects in Tanzania.  The submission... 

Trafigura Group helps re-establish historic African trade route

By: Tasneem Bulbulia     26th September 2018 Independent commodity trading group Trafigura has successfully taken the first step towards reopening one of Africa’s most historic trade routes, with a train journey that ended in the Angolan port of Lobito on Saturday, September 22. A cargo of 800 t of copper blister, bought by Trafigura from... 

Africa’s metals, engineering cluster needs to do more to attract investment 

By: Marleny Arnoldi     21st September 2018 Steel and Engineering Industries Federation of Southern Africa (Seifsa) chief economist Dr Michael Ade has declared Africa’s metals and engineering sector open for business. Ade was addressing delegates on the second day of Seifsa’s fourth annual Metals and Engineering Indaba, in Johannesburg. 

Budget airline continues to refine its service and aircraft mix

By: Rebecca Campbell     17th 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, to restore its financial health, ensure it becomes a sustainable going concern, and thereafter achieve consistent profitability. “As a... 

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 Iannucci     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... 

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