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It’s Time Africa Acted Over Its Wealth

It’s Time Africa Acted Over Its Wealth

That Africa needs to redress the huge gulf between its wealth and its poverty is a foregone conclusion. Statistics of outflows from Africa against inflows in everything from aid, foreign direct investment to remittances will boggle the mind. But you already know that. What Africa needs to do about it is another matter altogether. President […]

Potential investors inspect National Railways of Zimbabwe assets

Potential investors inspect National Railways of Zimbabwe assets

A GROUP of 10 potential investors interested in the proposed $400 million National Railways of Zimbabwe (NRZ) recapitalisation project have conducted a four-day voluntary due diligence inspection of the parastatal’s assets. NRZ public relations manager Mr Nyasha Maravanyika said the voluntary tour by the group was a follow-up to the recapitalisation pre-bid conference held in […]

Will Kenya get value for money from its new Standard Gauge Railway?

Will Kenya get value for money from its new Standard Gauge Railway?

The first major new railway line in Kenya for more than a century, running between the capital Nairobi and the coastal city of Mombasa, faces an immediate challenge of justifying its relatively high cost. At $5.6m per kilometre for the track alone, Kenya’s line cost close to three times the international standard and four times […]

Zimbabwe Govt grants NRZ project status . . .Recapitalisation exercise subject to various incentives

Zimbabwe Govt grants NRZ project status . . .Recapitalisation exercise subject to various incentives

THE Government has granted National Project Status to the National Railways of Zimbabwe (NRZ)’s $400 million recapitalisation programme subjecting the project to various incentives till its completion. Speaking at NRZ’s pre-bid conference on Tuesday, Finance and Economic Development permanent secretary Mr Willard Manungo said in order to show full support and to ensure smooth implementation […]

Global Hotel Chains Venture Into Zanzibar

Global Hotel Chains Venture Into Zanzibar

Global hotel chain Marriott International has announced that it will open a hotel in Zanzibar to tap into the isle’s tourism business. The planned $330 million hotel will be part of the Amber Resort complex, and the largest accommodation facility occupying 1,750 hectares of Indian Ocean coastline in the northeast of the island. It is […]

Struggling National Railways of Zimbabwe patches together $400m recapitalisation plan

Struggling National Railways of Zimbabwe patches together $400m recapitalisation plan

THE financially-struggling National Railways of Zimbabwe (NRZ) yesterday held a recapitalisation pre-bid conference in Bulawayo, as it seeks to raise $400 million to revive its operations and to repair infrastructure and equipment, to regain its lost market share. Addressing prospective bidders, who included international and local investors, NRZ deputy board chairperson, who is also chairman […]

The Medieval Town Demanding for Alternative Investments

The Medieval Town Demanding for Alternative Investments

Residents of Lalibela, a historical town and home to the oldest and magnificent UNESCO registered rock-hewen churches, plea for diversification of investment opportunities besides the relatively well-to-do tourism sector. Famous for its distinctive monolithic rock-cut churches which date back to the 12th and 13th centuries, and being the living testimony to the unique medieval civilization […]

How Ugandans Can Become Billionaires By 2021

How Ugandans Can Become Billionaires By 2021

One of my favourite sayings is ‘do not ask for too much, the gods might just give it to you.’ Our Zimbabwean brothers and sisters asked for financial freedom and wealth and they became zillionaires! You see it never rains but pours. If you are feeling hard done by, you ask for rain and viola, […]

Tanzania Struggles to Finance Standard Gauge Railway

Tanzania Struggles to Finance Standard Gauge Railway

Tanzania is struggling to find financiers for its proposed $1.2 billion standard gauge railway as leaders continue to raise questions on the viability of the project. A group of MPs recently said the project is likely to stall due to lack of financing unless the government considers alternative sources of funds outside low-interest loans such […]

Magufuli’s Govt Promises World Class Roads for Cities in Tanzania

Magufuli’s Govt Promises World Class Roads for Cities in Tanzania

The Prime Minister, Mr Kassim Majaliwa, has said that the government was planning to construct world class roads in all major cities including flyovers. He said that the government will start constructing flyovers in Arusha, as a tourist hub and then proceed to Mwanza and Dar es Salaam. The Premier made the statement while addressing […]

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