World bank ranks: Kenya second on logistics

Amigos J said:
For how much loan? When will you start paying this loan?? You guys are finished....
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Kenya is set to invite private investors to bid for construction of 29 more berths along the Indian Ocean coastline as part of the Sh500 billion Lamu port, the largest in the region.
The State is already building the first three berths at a cost of Sh48 billion funded by taxpayers,
Nairobi targets investors in 27 more Lamu port berths
 
Rusumo Hydropower project

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Geza Ulole said:
On airports we have better than Kenya has as far as international facilities r concerned KIA, ZIA, JNIA, SIA & Mwanza airport soon International, Ngerengere airforce can accomodate any type of Jet aside numerous medium sized!
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That is insufficient to run out logistics activity look at the loading in our dar port .........
..........!
 
#AirTanzania announces #Airbus #A223 destinations

#HARARE AND #JOHANNESBURG AMONG NEW AIR TANZANIA DESTINATIONS
(Posted 07th December 2018)


It was learned from a regular aviation source in Dar es Salaam, that Air Tanzania had apprently postponed the launch of their flights to Mumbai – first to take place in September, then October and more recently November, all since passed – until late Q1 of 2019 after the airline finally came to terms that without a feeder network and hyperactive sales activities, they would not be able to fill the aircraft for mere point to point flights.

Sensibly, when the two new Airbus A220-300’s arrive (formerly known as the Bombardier CSeries), will they be used to roll out new destinations, among those Johannesburg and Harare, to be followed by Nairobi and other regional airports across Eastern Africa.

When the short / medium haul fleet of Bombardier Q400’s and A223’s have been fully deployed will Air Tanzania then be able to draw on additional traffic for their planned long haul flights.

This is something which for aviation pundits from the word go was clear but national pride – informed by orders from above – clearly got the better over rational logical decisions when the Boing B787 Dreamliner was delivered before a sound regional network had been put into place.

#AirTanzania announces #Airbus #A223 destinations
 
Towards Nchi ya viwanda Mo Dewji under METL comes with Mo electro products made in Tanzania.













 
Mengi plans to invest $30m in oil, gas prospector Swala


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Tanzanian businessman Reginald Mengi
By Alawi Masare @AMasare malawi@tz.nationmedia.com

IN SUMMARY
Tanzania Energy Ltd owned by businessman Reginald Mengi has agreed with Swala Oil and Gas Tanzania PLC for the former to invest $30 million that will be converted into equity. After conversion, Mr Mengi’s Tanzania Energy Ltd will own approximately 46 per cent of Swala, according to a statement issued by Swala.

Dar es Salaam. Tanzanian businessman Reginald Mengi is to invest $30 million (Sh67.5 billion) in Swala Oil and Gas Tanzania PLC, which is now awaiting approval to start drilling from next year.

Mr Mengi’s Energy Tanzania Limited has entered into a definitive agreement with Swala for the initial investment for the company to develop its current projects, Swala said in a statement released yesterday.

The tycoon’s entry into Swala is the latest of a string of multi-million dollar investments that he has been signing to add to his industrial investment footprint in the country.

Mr Mengi is popularly known for the IPP Group, which operates a line of businesses, including across media channels. Swala is the operator of the Kilosa-Kilombero licence with 75 per cent participating interest and 100 per cent operator of the Block D in Burundi.

The company is also a shareholder in PanAfrican Energy Corporation, a Mauritius-registered company that owns PanAfrican Energy Tanzania Limited, which runs independent power producer, Songas.

Swala is waiting for government permits to allow safe drilling of Kito-1 in 2019. Kito-1 was assessed to potentially contain up to 185 million barrels of oil worth over $10 billion (over Sh22.5 trillion) at current prices.

Mr Mengi’s planned investment, which is contemplated to close in two tranches, consists of a $30 million “Convertible Note” that must be converted into ordinary shares of the company at the earliest within 90 days from the date of subscription or a cross-listing of Swala ordinary shares on another stock exchange under one year from the date of subscription.”

Upon conversion, Energy Tanzania Ltd will own approximately 46 per cent of Swala, according to the statement.

“We are pleased to have secured a significant strategic investment by Energy Tanzania Limited, which has been a supportive shareholder since the company’s listing on the Dar es Salaam Stock Exchange four years ago. Mr Mengi has identified the Tanzanian energy sector as a strategically important one with significant opportunity for Tanzanians and Swala is privileged that he has chosen our company as his investment vehicle of choice,” said Swala chief executive officer, Dr David Mestres Ridge.

The tycoon recently signed a deal with a South Korean firm to establish a vehicle assembly plant in Dar es Salaam. The $10 million (Sh22.5bn) plant will be a joint venture between IPP Automobile Company Ltd, a new subsidiary of IPP Group, and Youngsan Glonet Corporation.

In October, he launched a new company called IPP Touchmate Ltd that will deal with production of electronic devices, including mobile phones. The investment worth $5 million was expected to start in three months.

Mr Mengi was recently reported to be in discussions with Chinese investors on how they could partner to revive the Arusha-based General Tyre East Africa, which was recently taken over by the government after remaining dormant since 2009.

He was also quoted as saying that he was looking for partnerships to play a role in the planned construction of a government-sponsored gas pipeline to Kampala and also establish a cashew nut processing plant in Mtwara. All these are happening at a time when Tanzania is implementing its much touted industrialisation drive.

Mengi plans to invest $30m in oil, gas prospector Swala
 
Home Countries Tanzania
Tanzanian Billionaire invests in local oil company
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by Kawira Mutisya

December 11, 2018


Swala Oil- The Exchange



A well-known Tanzanian entrepreneur and philanthropist Dr. Reginald Mengi has invested US$30 million in Swala Oil and Gas(Tanzania).

The investment made through his company Energy Tanzania Limited (ETL) will be used to develop the Swala’s current projects.

According to a statement from Swala, the investment, which is contemplated to close in two tranches,consists of a US$30 million Convertible Note that must be converted into ordinary shares of the Company on the earliest of 90 days from the date of subscription or a crosslisting of Swala Ordinary Shares on another stock exchange and in anyevent no later than one year from the date of subscription. “The conversion rate will be on the basis of an agreed 30/75, implying a pre-money valuation of Swala of US$45 million and a 125% premium to its current market capitalization.Upon conversion, ETL will own approximately 46% of the Company.” Reads the statement in part.

Swala is in the process of closing the additional sources of funding with institutional investors and individuals, to be used together with the announced funding to further progress the Company’s current projects.

This the statement adds,includes a further senior debt investment that is contemplated to rank equally alongside the US$25 million of senior debt already raised (as communicated to the market on the 2nd January 2018) as well as additional subscriptions to the Convertible Notes.

There are no assurances given that one or more of the transactions will be completed on the terms previously disclosed.

According to the CEO of Swala, Dr. David Mestres Ridge, Swala is pleased to have secured a significant strategic investment by Energy Tanzania Limited, which has been a supportive shareholder since the Company’s listing on the Dar es Salaam Stock Exchange four years ago.

Dr. Mengi has identified the Tanzania energy sector as a strategically important sector with significant opportunity for Tanzanians, and Swala is privileged that he has chosen our Company as his investment vehicle of choice.

“With the support of ETL we aim to continue developing Swala to address the energy demands of Tanzania as it seeks to grow into a middle-income economy, an objective in which the Company, through its direct and indirect investments, can play an enabling role.” He said.

Swala is the first oil and gas company listed on an East African Stock Exchange with a significant local ownership. Swala holds assets in the world-class East African Rift System with a total net land package in excess of 14,000 km2 as well as a 7.93% interest in Mauritius-based PAE PanAfrican Energy Corporation. New discoveries have been announced by industry participants in a number of licences along East African Rift trend that extend the multi-billion-barrel Albert Graben play so successfully developed by Tullow Oil into the eastern arm of the rift.

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FILE- Egypt’s Prime Minister Mostafa Madbouly
PM to witness Stiegler's Gorge dam's contract signing in Tanzania
By: Egypt Today staff
Tue, Dec. 11, 2018
CAIRO – 11 December 2018: Upon President Abdel Fatah al-Sisi's request, Prime Minister Mostafa Madbouly will head to Tanzania on Tuesday to witness the signing ceremony of Stiegler's Gorge dam's construction contract on December 12.

According to a Monday statement, Madbouly will be accompanied by a high level delegation.

On December 8, Sisi discussed in a phone call with his Tanzanian counterpart John Magufuli Stiegler's Gorge Hydroelectric Power Station's latest developments.

The dam will be constructed by The Arab Contractors Egyptian Company with a total cost of $3.6 billion.

Stiegler's Gorge Hydroelectric Power Station is expected to produce 5,920 GWh of power annually to fill the electricity and energy shortage in the country.

In October, Magufuli invited Sisi to lay the foundation stone of the dam Stiegler’s Gorge.

In a phone call initiated by Magufuli, Sisi said the construction of the dam will be performed in a way that will make Tanzania, Egypt and the African continent proud, exemplifying African cooperation.

The dam will be built on the Basin of Rufiji River as an important national project to generate power.

Magufuli expressed his appreciation of the historic relations between the two nations, and applauded the economic cooperation and trade exchange, as well as the Egyptian investments in Tanzania.

Sisi was the first Egyptian president to visit Tanzania in August 2017 since 1968.

PM to witness Stiegler's Gorge dam's contract signing in Tanzania



 
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