Month: October 2019

Ministry of Works, Transports, and Communications in Tanzania is setting a new record in expanding inland waterways in Tanzania.

The state has therefore invested $38 million to improve lake zone dwellers navigation across Lake Victoria, including building a ship to enhance transportation.

Transportation has been a vital driver of economic interactions for Tanzania: movement of human capital and raw materials over space and time, as well as stimulating expansion of settlements and business operations.

Bank of Tanzania’s quarterly economic review, point transport has been one of the top three activities contributing to the Gross Domestic Product, same applies to the corresponding quarter in 2018.

The ship will bear the capacity to carry over 1200 people, 400 tons of cargo and 20 vehicles. The latter is one of the many efforts espoused by the ministry to expand transportation facilities in Tanzania.

The construction of the ship has begun earlier October in …

Equity Bank Kenya and AGCO have signed a partnership agreement that will see their customers get up to 80 per cent financing.

AGCO is an American Company which owns the Massey Ferguson brand.

The credit is payable within 48 months on the Massey Ferguson tractors and accompanying implements.

Mechanising farmers

Equity Bank Kenya Associate Director- Credit, Sam Ndung’u, indicated that the Bank is partnering with AGCO, one of the biggest agricultural machinery companies globally to enable farmers mechanise affordably.

Through the sole franchise holder, FMD East Africa, financing will be provided to both businesses and individuals for Massey Ferguson tractors and complimenting implements.

“We share a common goal with AGCO which is to empower SMEs and especially those in the agribusiness value chain from farmers, to processors, with the aim of assisting in the achievement of food security on the continent,” said Ndung’u.

He added that this partnership will go …

The World Bank on Thursday said that Kenyans are not as poor as they were 4 years ago…

Recently, Africa has enjoyed a lot of global attention. Overtures from partners all over the world have been relentless. Africa has had summits with China, Japan and Russia.

To take stock of the importance or lack thereof, it is politic to look at Africa’s continental vision and how international relations could help to realise it. The transformation of the Organisation of African Unity (OAU) into the African Union (AU) was not a mere exercise in shorter nomenclature; it signalled a break from some of the imponderable challenges that Africa could not solve through the OAU.

The AU said it differs from the OAU because it envisages “an integrated, prosperous, equitable and well-governed and peaceful United States of Africa, effectively managed by its own citizens and representing a creative and dynamic force in the international arena”. The First Strategic Plan of Action Horizon 2007 was meant to shape strategic relations with …

Egypt and South Sudan signed a Memorandum of Understanding in regard to cooperation in the field of downstream oil and gas, during the South Sudan Oil & Power (SSOP) 2019 Conference.

South Sudan will launch its first-ever licensing agreement in the first quarter of 2020 in regard to the 13 blocks onshore which will be open for tender.

As a testimony to the country’s growing attractiveness as an investment destination, the country hosted delegations and officials from Kenya, Ethiopia, Egypt, Somalia, Norway, United States and South Africa to discuss oil and future oil investments.

The Minister of Petroleum of South Sudan, Daniel Awow Chuang, expressed the country’s vision in the oil and gas sector which is experiencing increased production numbers.

“The oil production in South Sudan has reached 178 000 barrels per day. We hope to reach 250 000 barrels per day in the near future. …

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Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradisematic country, in which roasted parts of sentences fly into your mouth.

A wonderful serenity has taken possession…

The banking sector in Tanzania has been experiencing a rather significant shift over the past few years.

According to the Bank of Tanzania (BoT) records, 40 registered banks operate in Tanzania, National Microfinance Bank (NMB) inclusively—which is now making a substantial investment in offering seamless banking services across Tanzania.

NMB Bank is one of the biggest banks in Tanzania, with over 13 years of operations in Tanzania. The bank’s ownership is split between the government via the Ministry of Finance, holding 31.8 per cent of the shares, public shareholders taking 21.6 per cent of shares of NMB, with foreign investors taking 3.3 per cent (directly or nominees)

Earlier in October, NMB Bank ushered a newly re-branded mobile platform and its app “Mobile Klik” to improve seamless access to financial services in Tanzania.

NMB Bank serves as robust retail and commercial bank, offering financial services to over 3.5 million customers served …

Unlike other industries, customers care more about interest rates and speed…

African competition law on the continent is the subject of notable growth. An increasing number of jurisdictions have adopted laws and regulations, established authorities, secured membership to regional antitrust regimes and ramped-up enforcement of suspected violations of prevailing competition laws at both domestic and regional levels.

Since 2018, domestic competition legislation has been enacted in Angola and Nigeria.  In Angola, these legislative developments have been bolstered by the establishment of the Angolan Competition Regulatory Authority, which recently became operational.  In Nigeria, the Federal Competition and Consumer Protection Act was signed into law in 2019, establishing the Competition Commission and Competition Tribunal to enforce the legislation.  Madagascar adopted a new law, which modifies certain aspects of its competition laws.  This is yet to be published in the official gazette, but also demonstrates an impending change (which is consistent with the general wave of development in relation to competition regimes on the …

When Kenya Airways inaugurated its first direct flight to the US, the fanfare and expectations were only comparable to the athletics events where Kenya does exploits on the global scene.

The launch could not have come at a better time when the company is seeking to cement its prominence as the Pride of Africa.

As the airline celebrates the first year of operating non-stop flights between Nairobi and New York, the JF Kennedy International Airport Terminal 4 Chief Executive Officer, Roel Huinink, says from a business perspective, the Nairobi-New York route is an important addition in its network development.

KQ’s 105,000 passengers in a year

Speaking to Kenya’s Chams Media, Huinink said, “It is a very important destination and also as a tourist destination it is high on the calendar of many people. It gives the Americans a very good opportunity to visit the beautiful country of Kenya and …