Since listing onto the Australian stock exchange back in 2006, Peak Resources Ltd has come a long way. Whilst exploring for phosphate minerals in East Africa, the company discovered rare earth minerals, creating a significant buzz across the mining industry that led to the establishment of its flagship Ngualla Project. Managing Director Darren Townsend explains how the company has taken the project, located in southern Tanzania, from.... Read more »

Posted on : Tuesday , 18th July 2017

 The Department of Trade and Industry (dti) will lead an Outward Selling and Investment Mission to Kenya and Tanzania with the aim of increasing trade and investment between South Africa and the two countries.   A total of 27 local companies in the agro-processing, automotive, infrastructure, built environment, mining and capital equipment, chemicals, plastics and cosmetics sectors will be part of the mission that will get underway.... Read more »

Posted on : Tuesday , 18th July 2017

 The government of Tanzania is buying a new Boeing Dreamliner 787 for its national airline, bolstering the Chicago jet manufacturer's year-end order book.   The sale follows private meetings that Jim Deboo, Africa region sales and marketing director for Boeing (NYSE: BA), held with Tanzania President John Magufuli during a visit last week.   A $10 million down payment has already been made on the 787-8 Dreamliner, whose list.... Read more »

Posted on : Tuesday , 18th July 2017

The automobile industry in Tanzania is growing, supported by growing incomes, improving urban infrastructure and the supply of cost-effective vehicles by Asian manufacturers. This sector of Tanzania gives ample opportunities to other countries to enter the market.  There has been strong prediction that there will be growth close to 3% per annum in vehicle sales in Tanzania over the period of 2018. As per the statistics of the Tanzania.... Read more »

Posted on : Monday , 14th August 2017

Uber has bowed to pressure from partner drivers who have been demanding a review its rates amidst increasing competition in the ride-sharing sector.   Uber Kenya has increased fare prices by raising the minimum fare to Sh300 from previous Sh200 in Nairobi and fare per kilometer from Sh35 to Sh42. This is the first time Uber is increasing its price after a series of fare cuts in response to local and international competition.   The.... Read more »

Posted on : Friday , 17th March 2017

At least 20 engineers are testing the standard gauge railway in readiness for the commissioning of train operations in July.   On Wednesday, the train arrived at the Port Reitz station from Nairobi, with engineers saying the trains would travel at 120 kilometres per hour.   "The train took two hours between Nairobi and Mtito Andei because the track there is complete. But from there we moved slowly because there are extensive.... Read more »

Posted on : Monday , 13th March 2017

Japanese automaker Isuzu Motors Limited has bought out General Motors’ 57.7 per cent stake in General Motors East Africa (GMEA) for an undisclosed sum.   The transaction will see the motor dealer change its name to Isuzu East Africa in April to reflect the change of control.   Most of the dealer’s sales are bus, pick-ups and truck brands of the Japanese multinational whose status shifts from a vehicle supplier to an.... Read more »

Posted on : Friday , 3rd March 2017

A strategy to promote local assembling of vehicles in East African countries may see Uganda lose heavily in customs duties collected daily.   According to Uganda Revenue Authority (URA) statistics every day Uganda imports about 100 vehicles from countries such as Japan, Germany, UK and United Arab Emirates.   The records mean every month URA collects between Shs28 billion and Shs35 billion worth of taxes from car imports alone..... Read more »

Posted on : Friday , 17th February 2017

Addis Ababa City Transport Authority yesterday announced that new meter taxis fare rate would take effect today.   According to the Authority, the fare of four-seat meter taxis is 10 Birr per kilometer while 13 Birr for seven-seat taxis per kilometer.   Authority Communication Officer Meteku Gebisa said that this rate would be effective up until 10 PM local time. Beginning from 10:01 onward, the rate will increase by 50 per cent,.... Read more »

Posted on : Tuesday , 14th February 2017

New luxury car sales dropped 30.3 per cent last year, with Jaguar being the only model to register higher demand among Kenyan dealers. Luxury car traders sold 285 units of the high-end vehicles in the year, down from a peak of 409 units recorded in 2015, according to data from the Kenya Motor Industry Association (KMI). Orders for Jaguars, sold by RMA Kenya, defied the general slump rising to 39 units from the previous year’s.... Read more »

Posted on : Friday , 10th February 2017

A three-wheeler assembly plant owned by Redawa Motors Industry PLC and located in Dire Dawa City, Ethiopia, is scheduled to start production in two month's time. The assembly line is located in Dire Dawa’s Industrial Village.   The construction of the assembly plant had started two years ago and was built at a cost of over 1.7 billion Birr.   According to the company’s General Manager, Engineer Tadesse Admasie, the.... Read more »

Posted on : Wednesday , 8th February 2017

Nairobi — France has overtaken Japan as Kenya's second-largest bilateral creditor accounting for 2 percent of external debt.   France has extended credit in the form of concessional Treasury loans and credit-export guarantee to a tune of Sh78 billion.   French Minister for the Economy and Finance Michael Sapin said France will continue its increased focus on supporting the private sector through the financing of the banking.... Read more »

Posted on : Wednesday , 8th February 2017