Dubai-based flydubai on Thursday announced the start of flights to Kilimanjaro from 29 October. The re-launched service to the carrier’s third point in Tanzania, along with Dar es Salaam and Zanzibar, will see flydubai’s network in Africa expand to 12 destinations. flydubai began operations to Tanzania in 2014 and has
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The US Federal Reserve has said it would raise its key interest rate by 0.25%, the second rise this year. The central bank voted to raise its key rate target to a range of 1% to 1.25%. That's the highest level since 2008, when policymakers cut rates to encourage borrowing
Read MoreTanzanian President John Magufuli has directed the confiscation of all undeveloped farms in the country and ordered that they be reallocated to other citizens. The President made the directive during a meeting with Regional Commissioners (RCs), at State House in Dar es Salaam on Tuesday. President Magufuli said it isn’t
Read MoreKenya Airways has moved a step closer to operating direct flights to the United States after the Department of Transportation (DOT) granted it the first set of licenses. The national carrier has received “exemption authority” from the DOT, allowing it to commence flights to the US provided it secures clearance
Read MoreUnited Bank for Africa Plc (UBA) successfully raised USD500 million through a debut Eurobond that was over-subscribed by 240%. The significant investor demand reflects the strong global investor appetite for UBA’s credit and support for the Group’s pan-African financial services strategy. The Global Offering is a five-year senior unsecured benchmark bond (144A/Reg S)
Read MoreThe African continent is expected to grow to a US$3trn (Shs10,756 trillion) economy by 2030, according Ernst & Young’s ‘Attractive Program Africa 2017’ report. The strongest economies over the last two years have included commodity-importing East African countries such as Tanzania, Ethiopia, Kenya and Rwanda while the West African economies
Read MoreTanzania’s Government signed a $154 million (Shs552.5bn) contract on Saturday with the State-run China Harbour Engineering Company (CHEC) to expand the main port in the commercial capital, Dar es Salaam. Tanzania is seeking financing for infrastructure projects as part of its plans to transform the country into a regional transport
Read MorePrime Minister Theresa May was fighting to hold on to her job on Friday as British voters dealt her a punishing blow, denying her the stronger mandate she had sought to conduct Brexit talks and instead weakening her party's grip on power. With no clear winner emerging from Thursday's parliamentary
Read MoreHow Kenya Elections Will Affect Uganda’s Economy
When Kenya sneezes, Uganda catches a cold, for what affects Kenya, directly affects Uganda and the East African region at large. And as the East Africa’s largest economy goes to the polls in August this year, the stakes are high considering the 2007-2008 bloody and divisive elections. Accusations of vote-rigging,
Read MoreExposed: How Corruption Is Killing Uganda’s Mining Sector
Corruption, mismanagement and political influence are undermining investment in Uganda’s mining sector and threatening people and environment, Business Focus reveals. The Global Witness report released on Monday (June5, 2017) indicates that pervasive corruption in Uganda’s mining sector allows crooked officials and the investors they partner with to profit at the expense
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