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This Is Where Africa’s Multimillionaires Live

AFRICANGLOBE - If the growth continues, these cities could join an existing club of African wealth hubs hosting the so-called ultra-high net worth individuals, typically those with over $30 million of net assets excluding their primary residence. These centers of affluence are spread from Johannesburg in the south, through Lagos in the west and Nairobi in the east, to Cairo in the north.

Tanzania Gets $1 billion Satellite City In New Chinese Investment Deal

AFRICANGLOBE - Tanzania has signed five investment deals with China which will see the Asian giant invest over $1.7 billion in the emerging East African country including to build a $1 billion satellite city and $500 million financial centre in the commercial capital Dar es Salaam.

Which African Cities Will Offer The Best Opportunities In Coming Years?

AFRICANGLOBE - CEOs are gradually recognising the untapped opportunities in Africa. But which African cities will offer the best business potential in the coming years? A recent note by professional services firm PwC suggests the most lucrative opportunities might not be in the region’s three largest cities

Tanzania Aims To Build A Megacity That Works

AFRICANGLOBE- Tanzania’s largest commercial city - one of the fastest-growing in Africa - has redrawn its master plan to try to become a megacity prepared for climate change,

New Report Reveals Africa’s Fastest Growing Cities

AFRICANGLOBE - Africa has 52 cities with populations of 1m or higher – the same number as for Europe. This is just one of the facts revealed in a new African Development Bank (AfDB) report, titled Tracking Africa’s Progress in Figures.

AfDB Allocates $3bn to Africa’s Power Sector

AFRICANGLOBE - The African Development Bank (AfDB) on Tuesday said it has earmarked up to $3 billion for Africa’s power sector over the next 5 years. AfDB President, Donald Kaberuka, speaking from Dar Es Salaam, said the bank’s interventions will include investment loans, reforms, advisory and guarantees in the energy sector.

Africa Open For Business, But Not At Any Cost – Tony...

AFRICANGLOBE - Africa’s economic history has been characterised by extractive industries and rent seeking practices that have not created development in any meaningful way. Africapitalism is simply saying there is a better and more ethical way to invest in Africa for a sustainable future.

With $11bn Mega Port, Tanzania Prepares Challenge Kenya, EA’s Shipping Hub

AFRICANGLOBE - Kenya’s status as the East Africa's logistics hub has again being challenged after Tanzania signed a deal with China to set up the bloc’s largest port and expand Dar es Salaam’s main airport. The $11 billion Bagomoyo port will be bigger than the Dar es Salaam and Mombasa ports, tilting the scales of regional trade in favour of Tanzania.

Tanzania’s Ruaha National Park Named Best Winter Destination

AFRICANGLOBE - Ruaha National Park has just been named as the Best Winter Trip destination for 2013 by the National Geographic Traveler Magazine. According to statement from Tanzania Tourist Board in Dar es Salaam, the park is featured together with other 14 Tanzania National Parks in the December/January Issue.

Railway in the Pipeline to Link Tanzania, Burundi and Rwanda

AFRICANGLOBE - The construction of a railway line to link three countries will commence in March, this year following the completion of a feasibility study and will be financed by the African Development Bank (AfDB) and United State Trade and Development Agency (USTDA). Addressing an inter ministerial meeting in Dar es Salaam on Friday, Tanzania's Minister for Transport, Dr Harrison Mwakyembe, said the railway line would overturn the current trend whereby a big chunk of goods is moved by road as opposed to rail.

East African Rail Project to Cost Over U.S.$5 Billion

AFRICANGLOBE - The East African Community railway line that will connect Rwanda- Tanzania and Burundi project would cost about $5.2 billion, according to a...

What Triggered Islamic Chaos in East Africa?

Economic growth in the East African Community (EAC) partner states could drop considerably if leaders in the region fail to halt the relenting religious...

Tanzania: Impressive Developments in Infrastructure

The government of Tanzania has of late started implementation of several capital intensive infrastructure development projects to boost transportation in Dar es Salaam Region...

Tanzania Secures Funding for Massive Natural Gas Project

Tanzania has secured a 1.2 billion US dollars loan to finance the construction of a 230-kms natural gas pipeline linking the Mtwara gas fields...

Tanzania: Airline Tickets Go Mobile

Precision Air and Vodacom Tanzania have partnered to enable air travellers to purchase tickets via a mobile phone money transfer, with a 20 per...

African Official Wary of Economic Ties With Europe

Former Tanzanian president Benjamin Mkapa on Wednesday likened the European Union's Economic Partnership Agreements (EPAs) as a poisoned chalice and the second scramble for...