Tanzania: Latest News
Kevin Mwanza, 7:58 am
FirstRand Limited, a South African bank and the leading lender by market value on the continent, plans to buy assets in Nigerian, as it seeks to capitalize on the global fall in commodity prices that has pushed down asset valuation in Africa’s biggest economy. The plan comes five years after the lender decided against buying majority shares in Sterling Bank Plc because of high prices in shares. Naira, the national currency fell to a record low of 309 against the dollar, in July further lowering asset valuation in the nation.
Dana Sanchez, 1:57 pm
Africa is short 90,000 doctors, 500,000 nurses, 300,000 community health workers and 500,000 hospital beds — and that was in 2007. With populations among the fastest-growing in the world, the ratios are getting worse. For someone interested in investing in the continent, these numbers could spell opportunity. Here are some market opportunities and investment ideas that could help fill the gap where other medical services are lacking.
Joe Kennedy, 5:00 pm
These high-altitude chameleons are endemic to the dormant Tanzanian Mount Meru volcano east of the Great Rift Valley, but the fascinating critters have proved to be adaptable. Also known as Jackson’s chameleon, they’re native to forests at altitudes of 5,250-to-8,010 feet where rainfall exceeds 50 inches a year. But they’re also found in wooded areas of some Nairobi suburbs. They were introduced to Hawaii in 1972 and have since become an invasive species that thrives at lower altitudes. They have also been introduced in Florida.
Dana Sanchez, 10:33 am
Malawi is rich in natural resources and tourism potential, but consistently scores near the bottom of economic indexes. Its citizens typically earn about $1 a day and total installed electricity is less than 300 megawatts. A 12-year finance program signed on the sidelines of the U.S.-Africa Business Forum targets low-income and IDA-eligible countries in Africa to finance renewable energy projects, said Wells Fargo VP Chuck Silverman. The International Development Association (IDA) offers loans and grants to the world’s poorest developing countries.
Tom Jackson, 4:36 am AFKI Original
With their links to industry, access to research, and top drawer facilities, universities can be a catalyst to a Silicon Africa. This is not something that has been the case too often, thus far at least. But, in certain cases, such as the C4DLab at the University of Nairobi and the LaunchLab at Stellenbosch University, universities are realizing they have an important part to play
Dana Sanchez, 5:28 pm
Bids from other consortiums including one led by South Africa’s Public Investment Corporation and Dubai-based Abraaj Group haven’t materialized. The Barclays Africa stake that is for sale is valued at about $4.3 billion. South Africa’s PIC manages pensions for government employees and is Africa’s largest money manager with about $13.5 billion in assets. In May it said it’s forming a group of black investors to ensure Barclays Africa remains in local hands.
Dana Sanchez, 11:12 am
In Africa, proposed consolidations of seed and agrochemicals industries will result in a bigger push for genetically modified technology. For sub-Sahara’s predominantly small-scale farmers already operating at a low profit margin, greater consolidation means less choice for them and consumers. These proposed mergers are not just about seeds and pesticides. They’re about controlling big data, DNA and intellectual property, stakeholders say.
Staff, 3:13 am
African private equity is having its moment in the sun, with pension funds on the continent ready to invest in their own backyard as investment banks continue to retreat from lending and domestic strategies mature. Sources cited East Africa as “hot.” Countries such as Tanzania, Kenya, Ethiopia and Rwanda were mentioned as offering emerging opportunities in private equity, while Nigeria
Dana Sanchez, 6:05 pm
In a closed-door meeting at this week’s U.N. General Assembly, Netanyahu said he plans to visit West Africa later this year, “but I don’t intent to limit myself to East Africa or West Africa. Israel is looking at all of Africa,” he said. “And I hope that all of Africa looks at Israel.” Energyia Global Capital, a Jerusalem-based solar enterprise, launched East Africa’s first solar field in 2015 in Rwanda. The company is prepared to invest $2 billion in Africa over the next four years through Obama’s Power Africa program. The goal is clean electricity for 50 million people by 2020.
Kevin Mwanza, 8:17 am
Uganda will build East Africa’s first ever gold refinery by the end of this year after Africa Gold Refinery Limited (AGRL), a local mining company, announced plans to set up the plant in Entebbe, south of the capital Kampala. The refinery will cost $20 million to build and will have a production capacity of one ton of pure gold per month. It will be supported by Tony Goetz & Sons N.V., a Belgium investor.
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