Business

Petra Diamonds Stops Operations At Williamson Mine In Tanzania

Petra Diamonds

Petra Diamonds temporarily has stopped its operations at the Williamson mine in Tanzania following seizure of a consignment of diamonds and question of its employees related to the wider investigation of the country’s mining industry. The effect of halting operations was seen largely on the company’s shares in London with a drop of 8 percent at 1318 GMT. However, this ...

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Digital Payment Making Utility Bill Firms Boost Revenues

Digital Payment

People in Tanzania are no longer standing in queue for about an hour to buy kilowatt-hours of energy for their homes. Thanks to Tigo Pesa, which is a local mobile app allowing customers to pay their utility bills through smartphone. It is fast, easy, efficient and saves time as well as money. Spending 10,000 Tanzanian shillings one can buy 28 ...

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Talks With Egypt Fruitful; Mega-Meat Processing Plant To Be Constructed: Magufuli

meat processing

Egypt will be investing in Tanzania and the primary project will be constructing a meat processing unit apart from education, health, defense, security and agriculture. Addressing to the press in Dar es Salaam jointly with Egyptian President El-Sisi, the Tanzanian President John Magufuli said the new mega-meat processing plant will bring big relief to the livestock keepers in the country ...

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No Import Of Maize Allowed In Zimbabwe: Government

zimbabwe

Zimbabwe is looking ahead to protect its farmers and this is the reason the country has announced a ban on grain imports following a devastating drought in 2016 that left over four million people in need of food aid. For years the country has been suffering from low grain production and the primary reasons are lack of financing, drought and ...

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South Africa Cuts Interest Rates To Adjust Inflation

south africa

Following a slight recession earlier this year South Africa has cut down the interest rates, though surprisingly, for the first time in five years. South African Reserve Bank has earlier been prioritizing to bring down the inflation rate that was 7 percent in 2016. South African economy is second largest after Nigeria in Africa. It is most developed, but in ...

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Angola Seeks More Private Investment; Plans Offering Fiscal Incentives

angola

Angola may soon come up with more fiscal incentives like reduction in taxes to lure investors, particularly in those regions which are most needy. Briefing to a press conference on Saturday in the capital city Luanda the ruling MPLA party’s presidential candidate Joao Lourenco said the regional asymmetries which are available now may not be eliminated through decrees. Joao added ...

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Mobile Money On Rise In Tanzania Amid Poor Banking Sector

mobile money

Tanzania and many other countries in East Africa have high unbanked population and this has resulted with more people using mobile money. A new data reveals in 2016 about half of the mobile subscribers had a mobile money account. The telecom companies attempted luring people to use their services amid such situation that banking is like a dream for many. ...

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