LOCAL IT FIRM WINS HEFTY ARBITRATION AWARD IN DAR

AN Arbitration Tribunal has ordered Vodacom Tanzania Limited to pay a local IT Consulting Company, FTS Service Limited, over 1bn/- being bonus compensation and damage payments, among others, for breach of an Agreement for provision of converged services and products.

FTS Service Limited had sued Vodacom Tanzania Limited for violating terms of their agreement and terminated their contractual business relationship with the local partner unlawfully.

The Tribunal comprising Court of Appeal Justice John Mrosso (rtd), High Court Judge Thomas Mihayo (rtd) and President of Tanganyika Law Society, seasoned advocate Charles Rwechungula, concluded that Vodacom Tanzania Limited wrongly and prematurely terminated the agreement with the FTS Company.

SWALA SHARE PRICE UP 20% ON LISTING DAY AT DAR ES SALAAM STOCK EXCHANGE

Former president Ali Hassan Mwinyi shakes hands with former minister for Finance Basil Mramba during the introduction of Swala Oil Company at the Dar es Salaam Stock Exchange (DSE) in the City yesterday.

Dar es Salaam. Investors of Swala Oil and Gas Limited that was listed on the Dar es Salaam Stock Exchange (DSE) yesterday had a chance to get a return of up to 20 per cent after each share appreciated by Sh100 on the first trading day.

After ringing the bell —  a sign of official listing — by former President Ali Hassan Mwinyi the share price increased from Sh500 during the initial public offering (IPO) to Sh600 at 10.30am when the market opened.

Some brokers said they had received bids of up to Sh700 per share.

BANK OF TANZANIA: TIME NOT YET FOR YUAN CLEARING HOUSE

Beijing — The Bank of Tanzania seems to let pass the establishment of yuan clearing house in the country to Kenya, at a time when China's currency is tipped to be the future global trading unit.

Though yuan, which is a unit of renminbi (RMB), internationalisation would take time. Kenya has started steps aimed at establishing the clearing and settlement house and later develops a centre for EAC.

The BoT Governor Prof Benno Ndulu said the central bank was not aware, at least at the time being, of any stage to create the clearing house in the country despite its multi advantages.

FASTJET PASSENGER STATISTICS FOR JULY 2014

fastjet plc is pleased to announce its passenger statistics for the month of July 2014.

fastjet operations in Tanzania carried a total of 52,839 passengers and achieved a load factor of 73%. Compared with the same month last year, the number of passengers carried has increased by 69%.

Month on month, capacity has risen by 8% with 72,355 seats flown in July compared to 67,425 in June.  Revenue per passenger was very strong with a 22% increase month on month.

Punctuality for the month remained excellent, with 94% of flights arriving on time ^{Note 3}, despite the extra flights.

AFRICAN SUGAR PRODUCERS HEADING FOR WATERS AS EU QUOTA ENDS

LOCAL sugar producers are heading into rough waters as the annual sugar quota which allowed them export to European Union comes to an end in 2017.

Since 2007, the EU has been reforming its Sugar Protocol regime as part of directives by World Trade Organisation (WTO) to end its heavily subsidised European Common Agriculture Policy.

The annual EU sugar exports used to be an important hard currency earner for the country as the commodity fetched premium prices almost double the world market prices.

BENKI YA CRDB YAZINDUA HUDUMA YA INDIA DESK

Balozi wa India, Shri Debnath Shaw (wa tatu kulia), Mkurugenzi Mtendaji wa Benki ya CRD, Dk. Charles Kimei (wa pili kushoto), wakizindua kwa pamoja huduma mpya ya India Desk  inayowaunganisha wawekezaji na wafanyabiashara nchini India kufanya huduma za kibenki bila ya kuwa na akaunti nchini. Wa pili kulia ni Naibu Mkurugenzi Mtendaji wa Benki hiyo anayeshughulika na Uendeshaji na Huduma kwa Wateja, Saugata Bandyadhiyay, mjumbe wa bodi ya Wakurugenzi, Ally Laay (kushoto), Celina Mkonyi (kulia). Uzinduzi huo ulifanyika jijini Dar es Salaam.

Balozi wa India, Shri Debnath Shaw (wa tatu kulia), Mkurugenzi Mtendaji wa Benki ya CRD, Dk. Charles Kimei (wa pili kushoto), Wa kwanza kulia ni Naibu Mkurugenzi Mtendaji wa Benki hiyo anayeshughulika na Uendeshaji na Huduma kwa Wateja, Saugata Bandyadhiyay, mjumbe wa bodi ya Wakurugenzi, Ally Laay (kushoto), Celina Mkonyi (kulia).

Mkurugenzi Mtendaji wa Benki ya CRDB Dk. Charles Kimei akizungumza wakati wa uzinduzi wa huduma ya India Deski uliofanyika jijini Dar es Salaam.

Mkurugenzi wa Masoko Utafiti na Huduma kwa Wateja wa Benki ya CRDB, Tully Mwambapa (katikati) akiwa na maofisa wa Benki hiyo wakati wa hafla ya uzinduzi wa huduma ya India Deski.

Kwa picha zaidi, bofya hapa.

Michuzi Blog

EXIM BANK TANZANIA APPEALS DECISION BY COMPANY NOT TO PAY DEBT

EXIM Bank Tanzania Limited has moved to the court of appeal to reject a notice of appeal lodged by an investment company, Meis Industries Company Limited, to oppose payments of over 2bn/- loan facility.

Through advocates Mabere Marando and Gabriel Mnyele, the bank filed an application last week, seeking court's intervention for the company's failure to take essential steps in prosecuting the appeal.

"The respondent (Meis Industries Company) has not taken essential step in the proceedings; it has not sought leave to appeal," reads one of the grounds advanced by the bank to support the application.

KAMPUNI YA MAFUTA NA GESI YA SWALA YAKARIBISHWA RASMI SOKO LA HISA LA DAR

Rais mstaafu wa awamu ya pili wa Jamhuri ya Muungano Tanzania Mh. Alhaj Ali Hassan Mwinyi akigonga kengele kuashiria kuingia rasmi kwa kampuni ya Mafuta na Gesi ya Swala kwenye Soko la Hisa la Dar es salaam.

Afisa Mtendaji Mkuu wa Kampuni ya Mafuta na Gesi ya Swala Bw. David Mestres akiongea na waandishi wa habari (hawapo pichani) wakati wa sherehe za kukaribishwa rasmi kwa kampuni ya Swala kwenye soko la Hisa la Dar es Salaam.

Mwenyekiti wa Kampuni ya Mafuta na Gesi ya Swala Bw. Ernest Massawe akiongea na waandishi wa habari (hawapo pichani) wakati wa sherehe za kukaribishwa rasmi kwa kampuni ya Swala kwenye soko la Hisa la Dar es  Salaam.

Rais mstaafu wa awamu ya pili wa Jamhuri ya Muungano Tanzania Mh. Alhaji Ali Hassan Mwinyi akipozi kwenye picha ya pamoja na Mwenyekiti wa Kampuni ya Mafuta na Gesi ya Swala Bw. Ernest Massawe na Mkurungenzi wa Swala Bw. Abdullah Mwinyi kwenye sherehe za kukaribishwa rasmi kampuni ya Swala kwenye soko la Hisa la Dar es salaam.

Mwenyekiti mtendaji wa makampuni ya IPP Dk. Reginald Mengi na Mh. Joseph Mungai wakimsikiliza Rais Mstaafu Mh. Alhaj Ali Hassan Mwinyi (hayupo pichani) wakati wa kukaribishwa kwa kampuni ya Swala kwenye Soko la Hisa la Dar es Salaam.

GROWING MALT BEVERAGE MARKET ENTICES TANZANIAN DEALERS

One of the founders of Jovet (Tanzania) Limited, Mr John Kessy congratulates Ms Christina of K-Pub, who is one of the top Dealers of Bavaria in Tanzania. 

With global trends of malt beverages showing business will continue to boom especially for non-alcoholic drinks, local businesses have been urged to join forces and take advantage.

Speaking during what was dubbed 'Race to the Top Dealers Dinner' hosted for Bavaria dealers, one of the founders of Jovet (Tanzania) Limited, Mr John Kessy said that the country is witnessing an emergence of 'middle class consumers', with greater expendable income and that local businessmen need to tap into this new market.

"We are set to revolutionise the beverage industry and plan to expand to the rest of Tanzania in an effort to widen and expand our portfolio and tap to this strong appetite as a result of growing economy and availability of potential market," he explained.

SAUDI ARABIA INVESTORS INVITED TO TANZANIA

RETIRED President Ali Hassani Mwinyi has urged more investors to come to Tanzania, highlighting the existing business environment in the country.

He told a group of business community during the launch of various lubricant products from Saudi Arabia. He said the country had relaxed procedures in setting up business in the country, the procedures were not cumbersome and thus a need for more investors.

He said Tanzania was growing in terms of business with various investment potentials available in the country Mr Mwinyi said Tanzania has taken the lead in attracting foreign direct investment (FDI) in the East African region.

He spoke during the launch of Mize lubricants from Munif Alnahdi Holding Company of Jeddah, Saudi Arabia Mr Mwinyi said that growth in inflows helped Tanzania have its position as the leading destination for Foreign Direct Investment (FDI) in East Africa last year.

THREE DENY STEALING SH1 BILLION FROM NATIONAL MICROFINANCE BANK

THREE people, including a former National Micro-Finance Bank (NMB) clerk Mtoro Midole, have denied furthering a criminal racket to steal over 1bn/- from the bank.

Midole and his co-accused persons, Daudi Kindamba and John Kikopa, both businessmen, were before the Kisutu Resident Magistrate's Court in Dar es Salaam on Friday where Senior Resident Magistrate Hellen Riwa conducted preliminary hearing of the case.

During the session, the prosecution led by State Attorney Pius Hilla, gave particulars to show how the three accused persons committed the offences of conspiracy, money laundering, fraudulent accounting, stealing 1,029,454,383/64 and occasioning loss to the bank.

AFTER THE SUMMIT: HOW U.S. CAN BREAK CHINA'S GRIP ON AFRICA

(CNN) -- Africa has indeed turned the corner. A continent once synonymous with death, disease and destruction is showing signs of improvement.

Virtually unscathed by the global financial slowdown, the African continent boasts some of the fastest growing economies in the world. Nigeria, Ghana and Tanzania are some of the countries leading the way in this exclusive economic growth club. With a combined population size of 1 billion, 70% under the age of 30 and an annual spend of $600 billion, the African continent is an attractive business proposition for any investor.

It comes as no surprise then that the U.S. is making huge strides to accommodate Africans. Hosting one of the largest gatherings of African Leaders in Washington, the U.S. is showing the world -- and sending a signal to its closest rival, China -- that it can and will have African influence, which it can convert into commercial opportunities that can translate to receipts.

TANZANIA AND U.S. SIGN “POWER AFRICA” MOU REAFFIRMING JOINT COMMITMENTS FOR THE ENERGY SECTOR

On the eve of the U.S.-Africa Leaders’ Summit, Tanzanian Minister of Energy and Minerals Professor Sospeter M. Muhongo and the United States Ambassador to Tanzania Mark Childress signed a bilateral Memorandum of Understanding (MOU) for on-going and future U.S. Government support under Power Africa. The MOU signing took place on Sunday, August 3, 2014 at the Tanzanian Embassy to the United States in Washington, DC. Both Minister Muhongo and Ambassador Childress were in Washington, DC for the U.S.-Africa Leaders’ Summit.

The Power Africa MOU reaffirms joint commitments for the energy sector taken under the Partnership for Growth Initiative and expands them to include the full range of U.S. Government inter-agency support to Power Africa and the Government of Tanzania’s own Big Results Now (BRN) Initiative to increase generation capacity and expand access to electricity.

WAZIRI WA UJENZI DK. MAGUFULI AIFAGILIA NSSF UJENZI WA DARAJA LA KIGAMBONI

WAZIRI wa Ujenzi, Dk. John Magufuli, ameusifu Mfuko wa Hifadhi ya Jamii (NSSF) kwa kuhakikisha wanasimamia ujenzi wa daraja la Kigamboni.

Ujenzi wa daraja hilo umekamilika kwa asilimia 60 ambapo mpaka sasa NSSF imetoa sh. bilioni 117 kati ya Bilioni 214 zitakazokamilisha ujenzi wa daraja hilo.

Akizungumza leo jijini Dar es salaam, alipotembelea daraja kuona namna ujenzi unavyoendelea, Dk. Magufuli alisema kuwa ujenzi wa daraja hilo umekutana na changamoto nyingi ikiwemo kina kilichokuwa katikati ya bahari kupoteza malighafi ya ujenzi ambapo wahandisi waliamu kufanya utafiti.

Alisema kuwa juhudi za NSSF  katika kufadhili mradi huo umewezesha changamoto zilizokuwa zikiukabili maradi huo kufanyiwa kazi.

Naye Kaimu Mkurugenzi wa NSSF, Ludovick Mrosso, alisema kuwa mradi huo unatarajiwa kukamilika Julai, 2015 ambapo katika daraja zitakuwa barabara sita za magari, mbili za wapita kwa miguu.Maradi huo unajengwa kwa kushirikisha Wizara ya Ujenzi, NSSF na Tanroads.

Waziri wa Ujenzi, Dk. John Magufuli (wa pili kulia) akipata maelezo ya maendeleo ya ujenzi wa Daraja la Kigamboni kutoka kwa Meneja wa Mradi wa ujenzi wa daraja hilo, Mhandisi Kareem Mataka, wakati alipofanya ziara ya kukagua maendeleo ya ujenzi wa Daraja hilo.

Mh. Magufuli akifafanua akitoa maelekezo kwa Mhandisi Kareem Mataka (kulia).

Waziri wa Ujenzi, Dk. John Magufuli (wa pili kulia) akikagua maendeleo ya ujenzi wa Daraja la Kigamboni linalojengwa na Shirika la Taifa la Hifadhi ya Jamii  (NSSF), kwa kushirikiana na Serikali. Kulia ni  Meneja Mradi ujenzi wa Daraja la Kigamboni, Kareem Mataka.

Waziri akiwa katika zira ya ukaguzi pamoja na maofisa kutoka Wizara ya Ujenzi, NSSF pamoja na waandishi wa habari.

Kaimu Mkurugenzi Mkuu wa Shirika la Taifa la Hifadhi ya Jamii (NSSF), Ludovick Mrosso akizungumza na waandishi wa habari wakati wa ziara ya kukagua maendeleo ya ujenzi wa Daraja la Kigamboni.

Bofya hapa kwa picha zaidi

Michuzi Blog

MARAIS WA NCHI ZA AFRICA MASHARIKI WAKUTANA NA WAWEKEZAJI MAREKANI

Rais Jakaya Mrisho Kikwete akiwa na Marais wa nchi za Jumuiya ya Mashariki, Mhe Paul Kagame wa Rwanda, Mhe Yoweri Museveni wa Uganda, Mhe Uhuru Kenyatta wa Kenya na Mhe. Pierre Nkurunzinza wa Burundi wakati wa mkutano wao na wawekezaji wa Kimarekani uliofanyika katika makao makuu ya chama cha wafanyabiashara (US Chamber of Commerce) jijini Washington DC. (Picha na IKULU).

KONGAMANO LA KWANZA LA TANZANIA DIASPORA INITIATIVE KUFANYIKA AUGUST 14 - 15 , JIJINI DAR

CRDB BANK ESTABLISHES INDIA DESK

Dar es Salaam. CRDB Bank on Wednesday unveiled its India Desk as it seeks to get a chunk of the ever increasing business ties between Tanzania and the Indian sub-continent. The Desk is a result of a partnership between Tanzania’s largest bank in terms of asset size and two of India’s largest banks – State Bank of India and ICICI Bank.

“With this partnership, we have created a banking synergy that will ease frustrations that traders from the two countries currently face in the process of making financial transactions,” CRDB Managing Director Charles Kimei said in Dar es Salaam at an event graced by Indian High Commissioner to Tanzania, Shri Debnath Shaw.

INDIAN CAR MAKER PLANS ASSEMBLING PLANT IN DAR

Ilala District Commissioner, Raymond Mushi (2nd left) and Mahindra & Mahindra senior general manager for exports, Mr Sanjay Jadhaw, jointly unveil the Mahindra XUV500 during the launch of the Jolly Enterprises Ltd showroom and services facility in Dar es Salaam yesterday. Mahindra & Mahindra Limited has appointed Jolly Enterprises sole distributors of its products in Tanzania.

Dar es Salaam. India’s car maker, Mahindra & Mahindra Limited is planning to establish a vehicle assembling plant in Dar es Salaam. 

So far, Mahindra has entered into a contract with Jolly Enterprises Limited as its sole authorised distributor of Mahindra products in Tanzania. 

Yesterday marked the official launch of the fully equipped show room and after sale services.

“Given the changing global environments and behaviour of Tanzania’s economy in recent past, we understand that the country has a lot of potential which we can exploit and plan to establish an assembling plant especially if we get a good partner,” said Mr Sanjay Jadhaw, the Mahindra & Mahindra Ltd senior general manager in charge of exports in Africa and Middle East.

PRESIDENT BARACK OBAMA WOOS AFRICA WITH MEGA DEALS

US President Barack Obama speaks during the US-Africa Business Forum on the sidelines of the US-Africa Leaders Summit in Washington on Tuesday.

Washington. President Barack Obama announced billions of dollars in investment for Africa on Tuesday, as the United States challenges China and Europe’s leading roles in the continent’s economic emergence.

But America’s first black president urged African leaders to not let corruption or rebellions sidetrack their gains, as he pledged a new partnership at a landmark summit with African leaders.

“As president, I made it clear that the United States is determined to be a partner in Africa’s success, a good partner, an equal partner and a partner for the long term,” he declared.

“We don’t look to Africa simply for its natural resources. We recognize Africa for its greatest resource, which is its people and its talent and their potential,” he told 45 heads of state and government.

HOW TANZANIA IS SHAPING INTO NEXT BATTLEGROUND FOR RETAIL GIANTS

Dar es Salaam. The die is cast. Last week’s official opening of Nakumatt supermarket in Dar es Salaam marked what is likely to shape into a scramble for the Tanzanian consumer market between two of East Africa’s leading retail giants.

Nakumatt’s launch of Mlimani City brings the competition with Uchumi Supermarkets closer to home, with a promise for an exciting shopping experience among local consumers.

And signs for the impending stiff competition between the firms that are also dominant in neighbouring Kenya and Uganda are not very difficult to discern.

Barely three days after Nakumatt replaced the hitherto Shoprite mega store along Sam Nujoma road in a high profile function, Uchumi pulled a rabbit from the hat.

CAN THE UNITED STATES SHAKE OFF CHINA'S INFLUENCE IN TANZANIA, AFRICA?

President Jakaya Kikwete, accompanied by First Lady Salma Kikwete, arrives at the White House for a group dinner during the US-Africa Leaders Summit in Washington, DC, on Tuesday.

On the morning of July 1, last year, when five million residents of Dar es Salaam woke up to a lifetime shock and couldn’t believe their eyes weren’t cheating. Some thought they had been caught by the wrong hop.

Suddenly, their dirty and dusty neighbourhoods had all been spruced up, and in a rare show of resolve, someone had actually seen it to use clean water to ‘‘bathe’’ the streets; it was a rare treat indeed — never seen here before in decades.

Hundreds of those streets and walkways famous for the ubiquitous beggars underwent ‘‘state-of-art surgery’’ as beggar after another were temporarily bundled out from the heart of Dar es Salaam.

KITOMARI BANKING & FINANCE BLOG HITS NEW READERSHIP HIGH OF 60,000 VISITS IN THE LAST 3 MONTHS AND STILL GROWING...

Kitomari Banking & Finance Blog is a premier site for current banking, finance, business, economic and stock market news as well as selected informative articles covering Tanzania, East Africa and the rest of the World.

Over the course of the last month (July 2014), Kitomari Banking & Finance Blog had 26,064 page visits up from 15,564 page visits the previous month (June 2014) to our site - a new record high. And we're still growing rapidly!

Kitomari Banking & Finance Blog was 'born' on Wednesday, 9th April 2014 at 20:35 hrs and has a total of over 60,960 page visits from inception to-date.  

A big thank you to all those readers from around the world, who continue to support us, most notably readers from Tanzania, United States of America and United Kingdom.

We invite prospective sponsors / advertisers who wish to advertise their products or services to this niche market of our readership to contact us as follows;

Email: ardenkitomari@gmail.com
Cell: +255 754 269 269 

PRESIDENT UHURU KENYATTA RELAXES IMPORT RULES FOR KENYANS IN THE DIASPORA

President Uhuru Kenyatta addressing Kenyans living in the United States at Washington Marriott Wardman Park.

Kenyans living in the United States listening to President Uhuru Kenyatta at Washington Marriott Wardman Park.

Washington. President Uhuru Kenyatta has relaxed import rules to allow Kenyans abroad to sell their left-hand-drive cars and get right-hand ones duty-free when they return home. 

The President directed Cabinet Secretaries Michael Kamau (Transport), Henry Rotich (National Treasury) and Adan Mohammed (Industrialisation) to work out ways of easing the import rules for Kenyans living in the diaspora.

While addressing Kenyans at the Marriott Wardman Park hotel in Washington, DC, President Kenyatta said he was aware of the restrictions on importing left-hand-drive vehicles, hence his directive to relax the rules. (NMG)

TANZANIA: BEER PRICE INCREASE PUSHES UP INFLATION

Tanzania’s inflation rate has increased to 6.5 per cent in July compared to 6.4 per cent recorded in June, National Bureau of Statistics announced yesterday.

The increase is mainly attributed to beer whose price was raised in July following a tax increase in the government budget. The government increased the excise duty to 20 per cent on beers starting July.

Beer contributed 4.4 per cent to July inflation rate followed by garments, especially trousers for men at 3.4 per cent, according to Ephraim Kwesigabo, the director of Population, Census and Social Statistics at the NBS.

DAR'S SKYSCRAPER BOOM: WATCHERS SEE SIGNS OF PROSPERITY

A bird’s eye view of the Dar es Salaam city, whose sky is increasingly getting crowded with extra-ordinarily tall building, a situation which property experts consider a sign that the Tanzania’s commercial capital is heading a better economy.

Dar es Salaam. The Haven of Peace is becoming the darling of skyscraper developers, mainly pension funds, banks and private real estate stakeholders that are investing heavily in high-rise buildings, with estimates showing that roughly $500 million (Sh840 billion) have been invested in five key projects at the city centre in the past few years.

Just a decade ago, what was visible in Dar es Salaam’s central business district (CBD) were ordinary storey buildings put up mainly by social security funds.

But, today, the city’s sky is crowded by massively tall buildings, amid concern that these cannot be well served by the outdated and limited infrastructure for water supply, power, sewerage system, roads, safety and security.

PRESIDENT KIKWETE'S TOUR OF THE US HAS OPENED UP TANZANIA TO THE WORLD

CURRENTLY on a tour of the United States that has included Tanzania's participation to the US-African Leaders Summit, President Jakaya Kikwete has touted a powerful investment package to American investors.

At various forums while in the US, the president has been displaying the country's investment briefcase replete with more than 50 projects with about 12 billion US-dollar investment requirement for possible partnership.

They include three railway projects with an investment requirement of over 8 billion dollars and three airport ventures that need more than 600 million dollars.

CHINA COMMERCIAL BANK TO SET FOOT IN TANZANIA

Beijing — A new bank, China Commercial Bank (CCB), has been granted a provisional banking license to operate in the country. According to the Bank of Tanzania (BoT), the new bank has no banking affiliation with another bank in China or Tanzania.

The BoT Governor, Prof. Beno Ndullu said the CCB has been formed by Chinese and Tanzanian businesspersons and currently is finalising license conditions before opening up a branch in Dar es Salaam.

"China Commercial Bank Tanzania Limited is a new bank being established here in Tanzania," Governor Ndullu told 'Daily News' China bureau through an email on Wednesday.

PRESIDENT JAKAYA KIKWETE COUNSELS AFRICA ON UNLOCKING GROWTH OPPORTUNITIES

Washington — PRESIDENT Jakaya Kikwete has underscored the need for African countries to undertake interventions that unlock opportunities and facilitate inclusion in the process of pursuing sound economic growth.

Making an intervention during the US-Africa Leaders Summit on Wednesday, President Kikwete said it was evident now more than ever before that economic growth was no longer a function of statistics but rather how growth affected people's lives and welfare.

Speaking on "Delivering tangible benefits to citizens and creating space for Civil Society", Mr Kikwete said, in other words, growth was about people and not statistics and therefore they (people) must be part of the growth and see it in what they do.

TANZANIA OPENS UP TO AMERICAN INVESTORS

President Jakaya Kikwete exchanges views with US President Barack Obama during the US-Africa's Leader's Summit in Washington D.C. on August 6, 2014. 

Washington — SOME 50 projects with about 12 billion US-dollar investment requirement were presented to US investors on Tuesday for possible partnership.

They include three railway projects with an investment requirement of over 8 billion dollars and three airport ventures that need more than 600 million dollars, according to President Jakaya Kikwete.

The president, who was addressing members of the US business community who attended the Tanzania Investment Forum here on Tuesday, said there were also three special zone and three special economic zone projects that require investment of more than 120 million dollars and over 1.2 billion dollars, respectively.

TANZANIA: EWURA RAISES PETROL PRICES

Petrol prices have risen by as much as 39/- per litre driven up by higher international oil prices and a weakening shilling. Indicative prices for August published on Wednesday by the Energy and Water Utilities Regulatory Authority (EWURA).

The rise is equivalent to 1.74 per cent compared to an increment of 17/- or 0.75 per cent of the previous month. However, motorists with gas oil engines have a reason to smile following a continued easing of prices by 18/- per litre or 0.85 per cent in the month under review compared to 1/- per litre which is equivalent to 0.07 per cent slashed in July.

For kerosene users who in July saw the prices of the commodity registering a slight price hike by 14/- per litre or 0.68 per cent will in August get relief 4/- per litre, which is equivalent to 0.18 per cent.

TANZANIA: BRITAIN PLEDGES 150 MILLION POUNDS FOR WATER SUPPLY

Arusha — BRITAIN has pledged 150 million pounds (400bn/-) to support the rural water supply, sanitation and hygiene programmes in Tanzania for five years from 2014 to 2019.

Through its Department for International Development (DFID) and in conjunction with the Ministry of Water and Irrigation, Britain pledged the massive funding support, being the second phase of the programme, here.

It is part of the British Government's backing of Tanzania's implementation of the Big Results Now (BRN) initiative. "The funding also complements the second phase of the Water Sector Development Programme (WSPD)," stated Ms Ros Cooper, the Acting Head of DFID in Tanzania.