Tanzania has the lowest pump fuel price levels giving motorists a better flexibility on spending compared to their peers in the six-member East African Community. The country petrol price stood at 0.91 US dollars (some 2,002/-) and diesel 0.84 US dollars (1,848/-), according to Global Petrol Prices website. Mzumbe University’s Dar es Salaam Campus Economist, Prof Honest Ngowi, said naturally landlocked countries would have high fuel prices than non-landlocked. “Naturally Tanzania will have a lower prices…fuel price is a factor of many components including taxes and costs of transport”. Uganda is the second with lowest petrol at 0.97 US dollars and diesel 0.83 US dollars. Read more
MAURITIUS based investors Alteo International plans to boost sugar production in Tanzania by increasing sugar estates under its subsidiary, TPC Limited and diversify investments to tourism. The Chief Executive Officer, Mr Patrick de Labauve, told Prime Minister Kassim Majaliwa who visited the company in Mauritius yesterday that they planned to increase sugar production by establishing more sugar cane estates and venture into tourism to tap into its great potential.
According to a statement from Prime Minister’s Office, the Mauritius investors have asked the government to avail them with opportunity to invest in tourism sector in Kilimanjaro Region which has many tourists attractions including Mount Kilimanjaro, the highest mountain in Africa. Read more
There are several sectors ripe for partnership between businesses in Nevada and the two countries in Africa, Evans said, including water technology, information technology, naturally based beauty products, infrastructure development and renewable energy. Africa is full of potential investment opportunities which are untapped yet. Therefore investors are doing their best to utilize the resources available. Read more
Many investors from abroad are increasing to Tanzania due to healthy economic growth projections. Current economic growth rate is 6.2% in 2 January 2017 records but till 23 August 2017 it is projected to be 7.08% according to Trading Economics while the World Bank Projected 7.1%.Therefore, Tanzania expects nearly 1,000 Chinese extra-large investors promising to invest in a special economic zone including textile, manufacturing, fishing, mining and agriculture across the board following mutual bilateral relations between the two countries. Read more
Tanzania needs $46 billion in power investment by 2040. The amount is said to be borrowed from various sources while the government will input only 30% to make sure there is adequate electricity in Tanzania. 80% of 46$ will cover cost includes investment on generation, transmission and sub-stations. The investment aims to boost power generation capacity from 1,500MW to 10,000 megawatts over the next decade. Taking advantage of Natural gas and coal, the investment expected to end chronic energy shortages and boost industrial growth. Read more
Israelites are intelligent people to live in earth. As we know that the world is trying to sustain Development in different areas of the economy. Flux an Israel Startup Company has done a research on how to solve number 2 SDG which is No Huger. They have introduced a product called Eddy product which will be able to grow plants indoors.
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