First Independent Mena Newspaper
Trade corridors between Tanzania and Democratic Republic of Congo (DRC) and between the latter and Kenya have been highlighted as the key links that will drive trade within the East African region by the year 2035. Increased infrastructure interconnectivity by the African states is widely seen as the key driver that will contribute to the […]
Escalating attacks by Yemen’s Houthi rebels on ships in the Red Sea have not only unraveled a key global trade route, sending shipping and insurance costs soaring, but they are also threatening to again push up the cost of living in Africa that is already struggling with crippling debt. The Red Sea crisis and the […]
Somalia’s entry into the East African Community (EAC) and the re-election of the Congolese president are likely to provide an important impetus to the financial services, banking and tourism, as well as to investments in renewable energy, oil, transport and logistics, all of whom are set to drive business opportunities in the East African region […]
Tanzania is venturing into the manufacture of electrical equipment aiming to become a key player in the industry, which is part of the government’s strategy to diversify the East African country’s economic portfolio. During her recent visit to Multi Cable Limited (MCL), a Dar es Salaam-based factory, Tanzania’s Industry and Trade Minister, Ashatu Kijaji, sought […]
The United States had delivered more than 40% of commitments made at the United States-Africa Leaders Summit (USALS) one year ago, which hosted about 50 African heads of government in Washington DC, senior US government officers have said. Speaking during a digital press briefing on the one year anniversary (14 December), they pointed out that […]
Somalia has finally been admitted to the East African Community (EAC) as its eighth member, thirteen years after its original application to join, as the economic bloc seeks to expand free trade across the region. Somalia was officially admitted to the East African Community (EAC) at the Summit of the East African Community (EAC) Heads […]
Tanzania’s Foreign Direct Investment (FDI) figures went up almost twofold year-on-year to $1.05 billion between July and September against $524.4 million in the same period last year, a positive development that is widely attributed to growing investor confidence in the East African country. Released by the state-run Tanzania Investment Centre (TIC) in its quarterly bulletin […]
Tanzania’s government has signed a 30-year port management agreement with Dubai-based logistics firm DP World, hoping the deal would boost exchanges with landlocked neighboring countries and reduce unloading times at the country’s largest port. The Dar es Salaam port in Tanzania will soon be modernized amid a 30-year concession agreement with the Emirati logistics giant […]
East Africa Commercial and Logistics Center is expected to open in Tanzania’s capital city, Dar es Salaam, in June 2024, providing trade and investment opportunities for the public. Speaking at the 47th International Trade Fair that was recently held in Tanzania, Executive Director at Taikang Asset Management, Cathy Wang, said that to facilitate and add […]
Ghana has reclaimed its top position as Africa’s premier gold producer, surpassing South Africa, after large-scale mining companies in the West African country increased gold production from 2.2 million ounces in 2012 to 3.08 million ounces last year. After a temporary setback in 2021 due to a sharp decline in output, Ghana has reclaimed its […]