Tanzania Becoming the New Chinese Province in Africa
Tanzania's strong relations with China go back to the era of Mwalimu Julius Nyerere and Mao Tse Tung. The Chinese 'Dragon' is now set to invest billions of dollars in the iron and coal mining sectors of the country that will last for more than a century
Isaac Haule (65), a subsistence farmer at Nkomang'ombe village in Ludewa district, can't help to see the long standing Mchuchuma and Liganga projects which the public at large have been so eagerly waiting for take place saying they will usher in a new era in extractive industry in the country.
A father of five and a local government retiree, Haule says though the people are confident of the projects,
Africa's road-building frenzy will transform continent
AFRICA is embarking on a road-building spree. Ahead of the pack are mining organisations, largely funded by China, which have flooded into the continent over the last decade and need ways to transport materials. But also afoot is a larger, pan-African effort to upgrade and expand the continent's highway network, as well as building many more smaller connecting roads.
The result will be a vast continental transformation with the potential to improve access to education and healthcare – and connect Africans to each other, enabling commerce.
AfDB props up capacity building for African infrastructure
The African Development Bank (AfDB) and the African Union Commission (AUC) Wednesday signed an accord, worth US$ 8.9 million, as capacity building grants for projects aimed at Africa’s physical and economic integration.
The Bank’s Vice President, Charles Boamah, and the AUC Deputy Chairperson, Erastus J. O. Mwencha, initialled the deal here, noting that the grant would specifically support implementation of the Priority Action Plan under the Programme for Infrastructure Development in Africa (PIDA).
US Power Africa Attracts $2.7b Investments
The US efforts to increase twofold electricity supply in sub-Saharan Africa has already attracted investments valued at $2.7 billion, according to Imara Africa Equity Research.
Overseas Private Investment Corporation (OPIC), a US government agency, has dedicated $1.5 billion for the first five years to the US initiative – known as Power Africa – according to OPIC’s Mimi Alemayehou.
The Millennium Challenge Corporation (MCC), another US agency, had pledged $1 billion to Power Africa, its Kamran Khan has said.
Additionally, the US Agency for International Development (USAID), a well-known US development agency, has agreed to commit $285 million to the initiative in grants and risk mitigation, USAID’s Andrew Herscowitz revealed.
