Tanzania: Latest News

  • Carlyle Group Pulls Out Of Barclays Bid, Buys Majority Stake In South African Clothing Supplier

    Carlyle Group pulls out of Barclays bid By 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.

  • M&A Africa: Pending Global Seed Monopolies Could Threaten Small-Scale African Farmers

    Pending global seed monopolies By 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.

  • Africa Investment Heats Up As Pension Funds Stay Local

    By 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

  • ‘Africa Excites Our Imagination’: Netanyahu Offers 15 African Leaders Partnership

    Netanyahu offers 15 African leaders partnership By 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.

  • Uganda To Get East Africa’s First Ever Gold Refinery By End Of 2016

    By 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.

  • East African Community Members Want To Remove All Non-Tariff Barriers To Trade

    By 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.

  • ‘This Is Not Charity’: $9B In New Commitments At US-Africa Business Forum, Obama Looks Ahead

    US-Africa Business Forum By 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.

  • 15 Things You Didn’t Know About The Maasai People

    By 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.

  • Dangote Cement Controls 22% Of Tanzanian Market Two Months After Launch

    By 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.

  • 15 African Hotels And Lodges Where You Can Sleep In Huts

    By 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.

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