Battle: Dar es Salaam vs Nairobi

Battle: Dar es Salaam vs Nairobi

Beijing finds itself cornered by Africa as they cancel China-led projects​


21. September 2021
China

China is increasingly finding itself being cornered by African countries on investment-related matters with several of them cancelling their contracts​


Topics
China | Beijing | Africa
ANI Last Updated at September 21, 2021 16:02 IST


China is increasingly finding itself being cornered by African countries on investment-related matters with several of them cancelling their contracts with Chinese companies, according to a media report.

The Singapore Post in an article on Monday said some of the countries had cancelled contracts as the "shoddy" work of the Chinese companies had become a source of tension for the ruling dispensations in several nations across the African continent.

After Ghana cancelled the contract of the Beijing Everyway Traffic and Lighting Tech company, which was to develop an intelligent traffic management system for the country, President of the Democratic Republic of Congo (DRC) Felix Tshisekedi called for a review of mining contracts previously signed with China in 2008, the publication said.

The DRC President said he wants to get fairer deals for his country. Unhappy with China's exploitative tendency, he said, "Those with whom his country signed contracts are getting richer while DRC people remain poor."

In 2008, then Congo President Joseph Kabila, who was in power from 2001 to 2019, signed deals with Chinese state-backed firms Sinohydro Corp and China Railway Group. Under the agreement, these Chinese companies were to build roads, hospitals and bridges in the Democratic Republic of Congo in exchange for a 68 per cent stake in the country's Sicomines venture, The Singapore Post reported.

According to the publication, lack of transparency was the issue that shrouded the China-led projects in Congo.

Ghana government cancelled the project because they found Everyway Traffic and Lightening Tech's work not up to any satisfaction and cancelled the project outright.

Last year in July, a Kenyan High Court ordered the cancellation of a USD 3.2 billion contract between Kenya and China for the construction of the Standard Gauge Railway. The court termed the whole project "illegal", stating the state-run Kenya railways failed to comply with the country's law in the procurement of the Standard Gauge Railway.

According to the John Hopkins University School of Advanced International Studies' China-Africa Research Initiative, between 2000 to 2019, China signed 1,141 loan commitments worth USD 153 billion with the African government and their state-owned enterprises, The Singapore Post reported.

The publication said that such whopping loan amounts have become unbearable for poor African countries. Moreover, on account of the Covid-19 pandemic and its impact on the economy, several African countries have found it tough to service loans they have taken from China. Hence, with limited choice to manage debt burdens, African countries have preferred to suspend projects which are controversial or cut sorry figures on the accountability front.

Meanwhile, most of the Chinese projects getting scrapped in Africa are part of Beijing's ambitious Belt and Road Initiative and this is what worries Chinese authorities, The Singapore Post reported.

Initiated in 2013, the BRI is Xi Jinping's grand plan to connect Asia with Africa and Europe via land and maritime trade networks to create new routes for China.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

www.business-standard.com

Beijing finds itself cornered by Africa as they cancel China-led projects

China is increasingly finding itself being cornered by African countries on investment-related matters with several of them cancelling their contracts
www.business-standard.com www.business-standard.com
 
nao said:
Tatizo kuna watu kama 2 wanaotaka kuharibu hii battle sijui why watu hawawapotezei hawa watu,achaneni nao msiwajibu,wajijibu mwenyewe.

Kwanza kuna watu wanamitusi kiasi kwamba mimi mfatiliaji hua nikikuta mtu katukana hua sifutilii tena maandishi yake hata kama kaandika kitu kizuri namna gani.
Hivyo puuzeni hao watu wanataka luvuruga humu kuna watu tunafuatilia hii battle hata kama sio wachangiaji.

Sent from my SM-G9250 using JamiiForums mobile app
Click to expand...
Sio wawili ni mmoja huyo mwenye ids nyingi zote zinamwaga pumba, ni mkabila sana na alienyimwa ufahamu, chuki zake kwa mtu ambae ni marehemu zinaonesha namna marehemu ana nguvu sababu anamuogopa mtu asiekuepo japo lake lipo!
 
Geza Ulole said:
mention them! Na usitaje miradi binafsi! Kumbuka majengo ya wizara, ring road na Msalato mpaka JPM anafariki fedha ilikuwa haijapatikana! kwa hiyo ni miradi ya Samia Suluhu!
Click to expand...

Ring roads zilikwisha pitishwa na African Development Bank na Msalato pia.

GPN – Tanzania - Dodoma city outer ring road (110.2 Km) construction project

The Government of the United Republic of Tanzania has received financing from the African Development Bank (AfDB) and Africa Growing Together Fund (AGTF) to finance Dodoma City Outer Ring Road (110.2km) Construction Project The project sector goals is to provide efficient road transport access...
www.afdb.org www.afdb.org


Mama hamna kitu hapo hata ufanyaje. I understand why you support her.
 

Vodacom eyes more stake in Safaricom Addis unit​



victorjuma_img

By VICTOR JUMA
More by this Author

​

Summary​

  • Vodacom Group has signed a deal that could see it buy an additional 10.9 percent stake in Safaricom Telecommunications Ethiopia.
  • The deal, if completed, will raise Vodacom’s interest in the newly formed telco to 17.1 percent.
  • The South Africa-based multinational currently owns a 6.2 percent stake in the Ethiopian firm through the Netherlands-registered investment vehicle Vodafamily Ethiopia.


Companies​

Tuesday September 21 2021
ndegwa

Safaricom CEO Peter Ndegwa. PHOTO | POOL

Vodacom Group has signed a deal that could see it buy an additional 10.9 percent stake in Safaricom Telecommunications Ethiopia from UK’s sovereign wealth fund CDC Group at a cost of $1.74 billion (Sh191.2 billion) in the coming years.

The deal, if completed, will raise Vodacom’s interest in the newly formed telco to 17.1 percent.

The South Africa-based multinational currently owns a 6.2 percent stake in the Ethiopian firm through the Netherlands-registered investment vehicle Vodafamily Ethiopia Holding Company.

“As part of the transaction agreements, Vodacom has granted a put option on the shares held by the CDC Group in the holding company to facilitate CDC Group’s potential exit in the investment,” Vodacom said in a trading update.

“CDC Group can only put the shares at fair market value (the total exposure of the put option is capped at $1,740 million (Sh191.2 billion), representing 10 percent of Vodacom’s current market capitalisation) from year 8 to year 10 from the year of commencement of commercial operations of the Ethiopia operating company.”

A put option is a contract that gives the buyer the right, but not the obligation, to sell a specified number of shares or other security at a predetermined price within a specific period.

In this case, CDC got a guarantee that there will be a buyer for its stake in the future.

If the Ethiopia venture proves successful and there are suitors willing to pay larger sums, the UK sovereign wealth fund can sell to them and leave Vodacom to keep the premiums paid in the contract as profit.

If there are no other buyers, CDC will have the right to sell the stake to the South African multinational based on the fair market value and which will be capped at the set amount.

The deal signals Vodacom’s confidence that the Ethiopian operation will be successful, indicating that the telco could be worth as much as Sh1.7 trillion in a decade.

If Vodacom buys the CDC stake, it will have raised its exposure in Ethiopia by a large margin. The multinational also holds a 35 percent stake in Kenya’s Safaricom Plc –the majority shareholder in the Ethiopian business with a 55.7 percent equity.

The other shareholder in the venture is Japan’s conglomerate Sumitomo Corporation with a 27.2 percent stake. Vodafone Plc, which has stakes in Safaricom and Vodacom, has a nominal interest in the Ethiopian business.

The consortium members on September 10 signed agreements to fund the new venture.

"Vodacom’s commitment to fund Ethiopia Opco is limited to its pro rata beneficial shareholding of 6.2 percent, which is not expected to be material," the multinational said.

"Safaricom, as the lead member of the consortium, intends to provide additional disclosure on the funding of the Ethiopia operating company in the coming months. Vodacom will also provide strategic operational support for the Ethiopia operating company."

The consortium won an operating licence and paid $850 million (Sh93.6 billion) to the Ethiopian government after beating a rival bid of $600 million (Sh66.1 billion) from a group led by South Africa-based MTN.

The Safaricom consortium also pledged to invest a total of $8 billion (Sh881.6 billion) over 10 years, including the cost of building telecoms infrastructure.

The big-ticket investment is expected to see the consortium borrow from institutional investors, including development finance firms.

The parties see the deal as presenting a huge growth opportunity in a market of 110 million people and which has previously relied exclusively on the State-owned Ethio Telecom.

Ethiopia recently announced that Safaricom would be allowed to offer mobile money services after Ethio Telecom, making the licence more valuable.

"The licence unlocks a unique opportunity for the Consortium to build out world-class services in Africa’s second largest country by population, providing a compelling long-term growth vector for Vodacom and Safaricom," Vodacom said.

"Furthermore, the investment in Ethiopia enhances Vodacom and Safaricom’s geographic diversification."

www.businessdailyafrica.com

Vodacom eyes more stake in Safaricom Addis unit

Vodacom Group has signed a deal that could see it buy an additional 10.9 percent stake in Safaricom Telecommunications Ethiopia.
www.businessdailyafrica.com www.businessdailyafrica.com



MY TAKE
Yaani hata nusu mwaka haujafika Safaricom inauza stake? It seems Safaricom couldn't raise funds to secure her stake!
 
Wakenya kama mnaakili you need to arise dhidi ya mnavoibiwa

Tangu mmefungua huu uzi kuhusu likoni Bridge(2017), Tanzania imejenga Madaraja 3 makubwa ukanda huu wa Africa mashariki (Salender, Kingongo na Pangani).
www.jamiiforums.com

Super bridge, size of a 21 storey tower to be built in Mombasa-Likoni

Likoni traffic set to ease as Sh82bn bridge construction starts in April The Likoni ferry crossing channel. /ELKANA JACOB The construction of a Sh82 billion bridge on the Likoni channel is expected to commence in April. The national and county government of Mombasa on Thursday began the...
www.jamiiforums.com www.jamiiforums.com

Kenya mnaishi kwa ajili ya leo, Tanzania inaishi kwa ajili ya Leo, Kesho na milele.

Wakati Kenya mnajivunia Nairobi ambayo soon inakuwa sawa na kamtaa ka Dar es salaam, Tanzania inajenga Mji Mpya Dodoma.

Kwa sasa Kuna ujenzi wa Majengo ya wizara (Ghorofa za kunzia ngazi 18 na kuendelea), maana yake mwaka 2022 mwishoni Dodoma itakuwa inaanza Rasmi kushindana na Nairobi...
 
Naton Jr said:
Miradi yote hiyo ilishatafutiwa fedha yote na mikataba ilishasainiwa na serikali siku nyingi, ilibaki tu utekelezaji sababu pesa zilishapatikana!
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Kuomba na kupata ni tofauti na huwezi jua labda asingepewa na mababeru? Reasonable figure ya investment ya GoT Dodoma kipindi cha JPM haiwezi zidi $500 mln! chukua Dodoma Bus terminal, Ndugai market, Uhur Hospital, Dodoma water supply project, Dodoma sub station na Dodoma's Government city Mtumba roads and some Agency offices and Government residential units !
 
Geza Ulole said:
Kuomba na kupata ni tofauti na huwezi jua labda asingepewa na mababeru? Reasonable figure ya investment ya GoT Dodoma kipindi cha JPM haiwezi zidi $500 mln!
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AfDB approves USD 455 million for Dodoma’s airport, ring road - The PPRA Website

The Public Procurement Regulatory Authority (PPRA) is a regulatory body established under the Public Procurement Act CAP 410.The Authority is charged with regulatory functions and vested with oversight powers and responsibilities on all public procurement activities carried by all public bodies...
www.ppra.go.tz www.ppra.go.tz

SGR peke yake ya Dodoma ni $ 2B
 
Naton Jr said:

AfDB approves USD 455 million for Dodoma’s airport, ring road - The PPRA Website

The Public Procurement Regulatory Authority (PPRA) is a regulatory body established under the Public Procurement Act CAP 410.The Authority is charged with regulatory functions and vested with oversight powers and responsibilities on all public procurement activities carried by all public bodies...
www.ppra.go.tz www.ppra.go.tz

SGR peke yake ya Dodoma ni $ 2B
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SGR si kwa ajili ya Dodoma pekee ni mradi wa nchi nzima! Huwezi kudai ni mradi wa Dodoma city!
 
Geza Ulole said:
SGR si kwa ajili ya Dodoma pekee ni mradi wa nchi nzima! Huwezi kudai ni mradi wa Dodoma city!
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Ni moja kati ya miradi ya Dodoma kama Dodoma, haimaanishi kama imeanzia mkoa tofauti na kuishia mkoa mwingine haina impact yoyote kwenye mkoa wa Dodoma

Pesa za AfDB zilizotolewa tayari kipindi cha Magufuli kwenye Airport na ring road ni almost $ 500 million
 
Naton Jr said:
Ni moja kati ya miradi ya Dodoma kama Dodoma, haimaanishi kama imeanzia mkoa tofauti na kuishia mkoa mwingine haina impact yoyote kwenye mkoa wa Dodoma

Pesa za AfDB zilizotolewa tayari kipindi cha Magufuli kwenye Airport na ring road ni almost $ 500 million
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Magufuli isn't a member of their temple. Just leave it at that.
 
Don YF said:

empty rhetorics baki nazo kama hauwelewi how rebase is done., Tanzania rebased recently in 2019, nyingine itakua baada ya miaka mitano kama desturi iliyo wekwa, so tegemea in 2024., mlivyo fanya 2014, base year ilikua 2007, sasa mmefanya 2019 na kutumia base year ya 2015., moving base year from 2007 mliyo itumia 2014 to rebase., census ni kitu nyingine tofauti..., wacha kujifanya mjuaji ​

Taarifa kamili.., ​

REBASE 2014...,BASE YEAR 2007​

Tanzania’s GDP expands by 32 pct after rebasing - officials​

By Fumbuka Ng’wanakilala
3 MIN READ

DAR ES SALAAM (Reuters) - Tanzania’s gross domestic product has expanded by 32 percent after the state rebased its calculation to incorporate new sectors in the economy, including big discoveries of natural gas, officials said on Friday.



A general picture shows the skyline of Tanzania's port cty of Dar es Salaam, July 12, 2013. REUTERS/Andrew Emmanuel
The east African country’s GDP stood at 69.8 trillion Tanzanian shillings ($41.33 billion) in 2013 after the rebasing, up from a previous estimate of 53 trillion shillings, the National Bureau of Statistics (NBS) said.
“The rebasing of the GDP takes into account new transformations in the economy, such as the ongoing mobile phone revolution in the country,” Finance Minister Saada Mkuya told a news conference.
Farming remains Tanzania’s economic mainstay, while tourism, mining, communications and financial services are the other key sectors. Tanzania has also made big natural gas discoveries, with revenues expected to give a boost to the economy by 2020.
As with other rebasings in Africa, the move takes into account structural and other economic changes, such as fast-growing mobile phone communications and ongoing hydrocarbon exploration activity.

The base year for calculations was changed to 2007 from 2001 and the NBS said GDP growth for 2013 was subsequently revised up to 7.3 percent from 7 percent previously.
Humphrey Moshi, professor of economics at the University of Dar es Salaam, said the expansion would give investors more confidence in Tanzania.
“The rebasing of the GDP will allow for comparability of economic data between Tanzania and its east African neighbours such as Kenya and Uganda, which have also recently rebased their economies,” he told Reuters.
Kenya, East Africa’s biggest economy, revised up its GDP by 25 percent to $53.4 billion in 2013 after rebasing, from $42.6 billion previously.

However, Moshi said the economy still faced serious challenges, such as a budget deficit and inflationary pressures.
“Power availability remains erratic and the government needs to restore the trust of donors after they suspended aid to the country due to high-level corruption scandals.”
Tanzania’s attorney general resigned on Tuesday, becoming the first political casualty in an energy corruption scandal that has led Western donors to delay aid.
Lawmakers found that officials, including the attorney general and the energy minister, fraudulently authorised the transfer of at least $122 million of public funds to a private company. The officials have denied wrongdoing.

REBASED 2019.., USING 2015 AS BASE YEAR.,​

Tanzania rebases economy, 2015 GDP now 3.8 pct larger - stats office​

By Reuters Staff
2 MIN READ




A general picture shows the skyline of Tanzania's port cty of Dar es Salaam, file. REUTERS/Andrew Emmanuel
DAR ES SALAAM (Reuters) - Tanzania has changed the base year it uses to calculate economic output to 2015, and data from the National Bureau of Statistics showed its economy was 3.8 percent larger in that year.
The bureau said in a document seen by Reuters on Wednesday it had changed the base year from 2007 previously, and calculated the economy’s size in 2015 at 94.3 trillion shillings ($40.56 billion) at current prices, up from 90.8 trillion shillings ($39.05 billion) using 2007 as the base year.
Tanzania last rebased its economy in 2014.

The statistics office said that based on constant 2015 prices, Tanzania’s gross domestic product was 107.67 trillion shillings in 2017. It did not calculate the impact the rebasing had on the figure.
In March 2018, the statistics office put Tanzania’s 2017 gross domestic product at 50.53 trillion shillings using 2007 constant prices.
Farming remains Tanzania’s economic mainstay, industry and construction and services are the other key sectors.

According to the World Bank, a new base year should represent normal operation of the economy — it should be a year without major shocks or distortions.
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Wakenya mking'ang'ania neno rebase rebase rebase mnachosha kama kuna kipindi mlikua mna neno CBD
 
Opportunity Cost said:
Mlikuwa wapi kumlinda.na wale waganga wa Nigeria,DR Congo,gamboshi nk? Dhalimu alishughulikiwa vilivyo na uviko 19
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Mkuu bora huende ahera ukabishane na marehemu . Sio ethical kukinzana na mtu aliyefariki . Yake yashapita . Tuendelee alipoishia kwa kurekebisha mapungufu na kuiga mazuri aliyifanya . Usingengua na mapungufu ungekua kama bill gates kila mtu ana mapungufu yake
 
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