Month: September 2019

The company’s board says this is part of the ongoing organisational turnaround strategies…

Nations that were lacking this momentum are now growing and modernising their economies…

Kenya is preparing to host several American companies during the American Chamber of Commerce (AmCham) Kenya annual Business Summit that will be held on November 4 – 5, 2018 in Nairobi.  More than 200 American companies will participate in the meeting that seeks to explore investment opportunities in Africa.

The Summit, now in its second year is held in partnership with the Kenya and U.S. governments as well as the U.S. Chamber of Commerce and serves as an engagement platform for the U.S. and the greater East Africa region to focus on strengthening two-way, enterprise-driven, trade and investment, forging long-term economic ties and mutual prosperity.

AmCham Kenya Board President Phillipine Mtikitiki described this saying, “The Summit is an opportunity to present and discuss realistic, feasible, collaborative measures and ways in which American and local businesses can leverage the numerous opportunities available in the various sectors of the economies of …

Armadale Capital, a London Stock Exchange’s AIM-listed investment company focussed on resource projects in Africa has secured an MOU with a China-based technology company CoolRU Information Technology for 5,000tpa of graphite concentrate produced at Tanzania’s Mahenge Liandu over an initial five-year period.

Armadale’s wholly-owned Mahenge Liandu Graphite Project is located in a highly prospective region, with a high-grade JORC compliant indicated and inferred mineral resource estimate announced February 2018 – 51.1Mt at 9.3% TGC. This includes 38.7Mt Indicted at 9.3% and 12.4Mt at 9.1% TGC, making it one of the largest high-grade resources in Tanzania.

Armadale acquired a 100% interest Mahenge Liandu in July 2016.

CoolRU was established in 2006 and is registered in WangJing Science Park in Beijing China. It is working closely with Geek+, the world’s leading provider of advanced robotics and AI technologies, to offer truly comprehensive intelligent logistics solutions to customers.

CoolRU is developing various applications …

Stanbic Bank Tanzania today reaffirmed its commitment to the development of Tanzania and announced that in 2019 it provided TZS 177 billion in funding to various infrastructure development projects in the country. Providing finance and financial expertise to the private and public sector in Tanzania is a key focus for the bank.

Stanbic Chief Executive Mr. Ken Cockerill said, “Stanbic Bank is well positioned to play an important role in supporting Tanzania’s second Five Year Development Plan, which seeks to encourage industrialization and promote economic growth and social development.”

Mr Cockerill also mentioned that, “Infrastructure development is the cornerstone for sustainable long-term economic growth and competitiveness. With that in mind we are proud to be at the forefront of bridging the infrastructure funding gap to accelerate socioeconomic transformation in Tanzania.”

Unlocking private sector funding will create solutions to bridge Tanzania’s and the continent’s infrastructure deficit and challenging business environment by …

Water sector in Tanzania stands to get a huge face-lift, following a move by the Tanzanian government experts to partner with Poland government,seeking to amend the water sector in the country.

On September 20^th, Deputy Minister of Water, Juma Aweso who led the meeting along-side Poland government experts in capital city Dodoma, stated that: the meeting sole focus is to explore various areas to for improve , primarily wastewater infrastructures, energy demands, clean water supply, and management.

Tanzania stands at a significant point to harness billions from its water resources, this is due to the huge water potential it has, including it’s decent share of African great lakes: 51 per cent of Lake Victoria and 46 per cent of Lake Tanganyika.

Further, Ministry of Water envisions to secure water supply across Tanzania, within possible lengths of the Sustainable Development Goals (SDG) number 6- clean water and sanitation, Five …

Uganda Revenue Authority (URA) is set to auction hundreds of imported cars destined for Uganda, which are now abandoned in warehouses in Mombasa.

According to the East Africa Community Custom Management act 2004, the cars have exceeded their permitted clearance and warehousing period. Which according to the act, the cars can stay in the warehouse within 30 days from the date the auction bid was placed and after failing to pay all the requisite fees, taxes, fines, penalties and charges that will have accrued.

A number of the cars have already been auctioned as the bidding process ended early this month.

A URA official in Mombasa Charles Busomba said that the auction is ongoing and some vehicles will be actioned to decongest the warehouses and to avoid accruing more storage charges.

“Due process was followed and we placed public notices in different media and in our government website to attract …

Ugandan grown cocoa bean is producing one of kind chocolate that is about to make an inroad into USA providing the world with authentic African flavors through South African based chocolate maker De Villiers.

Classed among the finest cocoa beans in the world, the crops grown in the tropical, rainy Bundibugyo district of Western Uganda produce a cocoa bean rich in the complexity of flavors. De Villiers Chocolate uses only these UTZ Certified beans because supporting sustainable cocoa farming is vitally important to Africa’s future.

With their positioning as the first African-originated UTZ Certified chocolate brand, De Villiers are hoping to bring their distinctive new products and intriguing new flavors to the USA, with a diverse range designed to provide an indulgent exploration of sensory delights with unique African flavor profiles.

The new range created for the USA market underlines their commitment to quality and authenticity throughout their chocolate-making …

President Uhuru Kenyatta has asked US investors to make Kenya their investment destination of choice in Africa, in the latest of his charm offensives in foreign markts.

The President has said his administration’s Big 4 Agenda, particularly the manufacturing component where the government’s plan is to lift the sector’s contribution to the economy from the current 8.4 per cent of GDP to 15 per cent by 2022, offers limitless investment opportunities for US companies.

READ ALSO:How Kenya plans to accelerate Big 4 Agenda

“The sector (manufacturing) presents major opportunities for local and foreign investors in areas such as agro-processing through value addition in key value chains such as textiles and leather, the maritime sector, construction, iron and steel, oil and gas,” the President said. 

President Kenyatta who spoke at a private sector forum hosted by the American Chamber of Commerce and attended by tens of top executives from leading …

Africa’s travel and tourism remain the key growth drivers of the continent’s economy contributing 8.5 per cent (or US$194.2bn) of the GDP…