• Tanzania is reviewing key business development laws to boost investments.
• One of the laws under review is the Companies Act and the Business Names (Registration) Act.
• Amended laws are set to create a more conducive investment environment.

The Tanzania business environment is expected to improve to a great deal thanks to ongoing efforts to amend non-conducive business laws.

It is expected that the business law amendment will serve to help the country attract investors by improving its business environment, the government has announced.

The government of Tanzania has made public its intention to review key laws in the country, including the Companies Act and the Business Names (Registration) Act, with a view to align the regulations with current global trends and market needs.

To this end, the government of Tanzania is now collecting stakeholders’ opinions ahead of the proposed law amendments.

While the two laws are often confused and intertwined, …

• Ghana has over 17 oil and gas projects that are in the pipeline for investments in the next three years.
• Some of the main projects are the Jubilee South East Project, which is under development by British oil and gas explorer Tullow Oil.
• The country is spearheading plans to attract new investments for renewable energy projects as it steps up the share of renewables to 10% by 2030.

Ghana’s oil and gas sector boasts of over 600 million barrels of proven reserves, and is fast positioning itself as a magnet for foreign investors seeking to tap into its energy industry.

The country’s energy wealth, which also includes 0.8 trillion cubic feet of gas, is equally unveiling a myriad of lucrative investment opportunities in renewable energy that foreign investors can tap into as well.

Proceeds from these investments would play a critical role in propelling the country to achieve its goal …

• The Invest in African Energy forum will explore financing and development opportunities in Liquefied Petroleum Gas storage and distribution.
• With significant unmet demand for clean cooking access, the sub-sector represents a critical opportunity for global investors.
• Last December, Tanzanian Liquefied Petroleum Gas distributor Taifa Gas launched the construction of a $130-million, 30,000-metric-tonne LPG storage facility in Kenya.

With more than 900 million Africans using biomass fuel and kerosene for cooking, liquefied petroleum gas (LPG) has emerged as a highly attractive and viable clean cooking solution.

While still a fossil fuel, LPG burns more efficiently and produces fewer carbon emissions than wood, charcoal or kerosene. The fuel is both easy to store and transport, as well as able to meet Africa’s clean cooking needs reliably and to scale.

East Africa is one region embracing this solution, with several governments adopting policy measures to scale the use of LPG and increase its …

• Cairo-based lender CIB made this announcement during the first Egypt-Kenya forum held in Nairobi, Kenya.
• Egypt is shifting its economic strategy by enhancing collaboration with sub–Saharan Africa
• Kenya exports tea, coffee, nuts, meat, wheat and flowers, skin and hides as well as live animals to Egypt..

Lender Commercial International Bank (CIB) has identified partnerships as key drivers of growth that will power investments by bringing together businesses seeking to explore Egypt-Kenya trade opportunities.

Kenya’s Prime Cabinet Secretary Musalia Mudavadi says the entry of CIB into Kenya’s market is a major win for Africa’s quest to enhance trade among its 54 member states.

Speaking at the Egypt-Kenya trade forum in Nairobi attended by roughly 40 Egyptian companies drawn from construction, transport, water, tourism, manufacturing and healthcare sectors, Mudavadi said Kenya was at the forefront of opening its market to African countries to boost intra-Africa trade.

“As a government, we will facilitate …

• AfDB projects in Egypt and Côte d’Ivoire win at the 2024 Bonds, Loans & ESG Capital Markets Africa Awards.
• These projects showcase innovative financing, like Egypt’s Panda Bond and Côte d’Ivoire’s Sustainable Loan, promoting sustainable development in Africa.
• The awards highlight the significance of ESG criteria, demonstrating the Bank’s role in advancing economic sustainability and growth on the continent.

The African Development Bank has been at the forefront of driving significant financial initiatives across Africa, as demonstrated by its involvement in groundbreaking projects in Egypt and Côte d’Ivoire.  The prestigious 2024 Bonds, Loans, and ESG Capital Markets Africa Awards recently honored these projects, highlighting the innovative approach and impact of the bank’s efforts.

Strategic Achievements Through AfDB Projects

Two African Development Bank-supported ventures have garnered top awards in notable recognition of excellence and innovation. Egypt’s groundbreaking RMB3.5bn ($478.7 million) Sustainability Panda Bond issuance clinched the Sovereign, Supra, and Agency …

• Tullow’s 2023 operating revenue surpasses expectations with strengthened Group financial position through a cut in debt.
• British firm has secured long-term capital through a $400 million debt from Glencore Energy.
• Explorer is projecting a $800 million free cash flow from 2023–2025 and a sustainable revenue flow outlook thereafter.

British exploration firm, Tullow Oil, has singled out Kenya oil project as one of its key areas in production growth for 2024, as it expects to deliver $800 million in operating revenue from 2023 to 2025.

This is captured in its financial results for 2023, where Tullow reiterated the delivery of its plan, which is achieving targeted results and a much-improved business. During the year, Tullow continued to evolve and built a strong and unique foundation to create material value, the company reported.

Several significant milestones were achieved in 2023, including the start-up of Jubilee South East which has given Ghana’s upstream …