Tanzania: Latest News
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.
Godfrey Olukya, 10:26 am AFKI Original
Rwandan trader Pierre Ndimwibo exports raw materials and imports electronic devices. Eliminating barriers like roadblocks and weigh stations will help his profits and grow his business, he said. East African Community members agreed on Jan. 14 to no new non-tariff barriers. Now they want all non-tariff barriers removed. It will save up to 20% of the time it take to import and export goods. Cross-border traders are all for it — if it ever actually happens.
Dana Sanchez, 10:03 am
New deals and commitments worth more than $9 billion in trade and investment with Africa will be announced at the U.S-Africa Business Forum underway in New York, U.S. President Barack Obama said. Obama also announced a new report coming out today exploring the future beyond AGOA — the African Growth and Opportunity Act. AGOA — that will include “more enduring and reciprocal” trade agreements. “This is a U.S.-Africa business forum. This is not charity,” Obama said.
Alexis Borochoff, 8:00 am
Africa is home to some of the last surviving traditional cultures on Earth. The Maasai people, one of the best-known tribes, are recognized for their unique and ancient rituals, attire and beliefs. But they are slowly modernizing, and more and more younger members are leaving their homelands and traditions for life in the city. Here are 15 things you didn’t know about the Maasai people of Kenya and Tanzania.
Kevin Mwanza, 7:44 am
Dangote Cement, owned by Africa’s richest man, Aliko Dangote, now controls 22 percent of the market in Tanzania since it launched operations in June as its low cost cement continues to upset companies that have for years dominated the East African market. Lafarge Holcim of France which is the biggest producer in Africa controls the biggest share of the East African market with a 27 percent; Tororo Cement of Uganda has 21 percent; while ARM Cement has 17 percent.
Julia Austin, 1:22 pm AFKI Original
A byword for luxury, the Serena brand offers an opulent experience at the Serengeti safari lodge inside the national park. Based on traditional tribal design, the huts melt into the landscape. Once you’ve had your fill of safaris and fossils at the nearby Ol Duvai archaeological site, you can relax at the vanishing pool and gaze out on the endless Serengeti plains.
Dana Sanchez, 12:34 am
The low cost airline model has been successful on every other continent. Why not Africa? Budget African Airline Fastjet plans to move its headquarters from London to Johannesburg and reduce its fleet from five to three leased aircraft to cut costs and reassure investors as the airline bleeds money. Fastjet’s plans to fly more planes didn’t pay off. Now the airline is in reduction mode.
Tom Jackson, 7:17 am AFKI Original
Just because individual Africans couldn’t get their heads round using bitcoin to send money, doesn’t mean it has no useful application on the continent and globally. Just last week, Barclays Africa was at the centre of the major development in blockchain technology that could change the way international trade is conducted. Alongside Barclays UK and Israeli tech startup Wave, a graduate from the Barclays Accelerator in New York,
Kevin Mwanza, 7:49 am
JetLink Express Limited, a Kenyan-based low-cost airlines that operated in the East Africa region could wind-up it operations by the end of this year after a local court allowed a petition to dissolve it over a $39 million debt it owes several companies. The ruling was made after FineJet Ltd, an oil company in the East African nation, sought legal action against the airline for failing to pay $161,990 for jet fuel that was supplied in 2012
Kevin Mwanza, 6:22 am
Digital crowdfunding has the potential to build African economies through creation of employment, in a continent where it accounted for less than 0.1 percent of the $34 billion raised globally last year. Growing investor interest in crowdfunding platforms across Africa is quickly turning in to a legitimate and easier way of souring for startup capital on the continent, according to CrowdExpert.
- Real Estate