China has pledged to finance the Tanzania-Zambia Railways (Tazara) and extend it to four other countries.
Official from the three governments — China, Tanzania and Zambia — are meeting in Dar es Salaam to put together details of the plan whose proposal include reducing the bloated Tazara workforce, The East African reported.
The plan will include renovating the 1,860 kilometers track and linking Tazara to Tanzania’s new Bagamoyo port and to Malawi, the Democratic Republic of Congo, Rwanda and Burundi.
The plan is part of the China-Africa co-operation agenda discussed at the Forum On China-Africa Co-operation in Johannesburg in December 2015, Rowland Msiska, secretary to the Zambia Cabinet said.
“Rwanda, Burundi and Eastern DR Congo will be linked through the Seleka-Mpulungu section of Tazara in Zambia, where the construction study has already been completed and is only awaiting financing,” Bruno Ching’andu, Tazara CEO, told the East African.
The Citizen reported that China will take over the management and operation of the railway line in a privatization arrangement that has been termed by the Tanzanian government as turn-around strategy.
Tanzania and Zambia would also review their domestic laws to provide for preferential provisions in the running of Tazara, with a view to attracting more private players.
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Global business looks to Cape Town as African gateway
International businesses are increasingly setting up shop in Cape Town, using the city as a base to expand into Africa while creating jobs for locals.
Company bosses who have made the city their temporal home praise its infrastructure and resources.
And apart from jobs, locals also benefit from new technology, global business know-how and there is a knock-on effect for local suppliers.
Garreth Bloor, the city’s mayoral committee member for tourism, events and economic development, says international companies basing themselves in Cape Town have over the last four financial years contributed an estimated R2.4bn in foreign direct investment into the city.
LESS BUREUCRACY: City of Cape Town councilor Garreth Bloor says city officials have gone a long way to cut out red tape to stimulate international investment locally. Picture Yazeed Kamaldien
Over the same period, they have collectively ensured an estimated 6 448 jobs in an economy struggling to create jobs for a sizable unemployed population.
These companies are also based in various parts of the Western Cape and include electronics manufacturers, management consultancies and renewable energy operations.
At the Hisense South Africa head office in Canal Walk, the company’s general manager Youbo Li says they opened their factory in Atlantis in 2013.
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Naspers Expands ShowMax To 36 African Countries To Counter Netflix
Africa’s largest company Naspers has launched its internet-TV and video streaming service ShowMax in 36 African countries in a bid to counter Netflix entry into the continent.
Naspers, which also owns the dominant satellite television service in sub-Saharan Africa, DStv, through its subsidiary MultiChoice Africa, launched ShowMax in South Africa in August 2015 – in anticipation of rumored Netflix’s global expansion into the continent.
US-based Netflix, which has over 65 million streaming customers in over 190 countries worldwide, announced its entry into Africa as part of a global expansion plan that included 130 countries earlier this year.
When ShowMax launched in South Africa last year, AFKInsider reported that the service was expanding in developed economies to preempt Netflix’s expansion plan into the continent.
Sources said ShowMax’s original plan was to beat Netflix to market in these regions, but Netflix announced its global launch much sooner than its original indications of “the end of 2016”.
It includes a Kiswahili language section and a Nollywood section, as well as an African Film section that pulls together classic movies from across the continent.
“In the first four months of 2016 we pretty much doubled the number of active subscribers, and that’s despite the entrance of Netflix into Africa,” ShowMax’s chief product officer Barron Ernst told Forbes.
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China To Help Extend Tanzania-Zambia Railway To Four Other Countries
China has pledged to finance the Tanzania-Zambia Railways (Tazara) and extend it to four other countries.
Official from the three governments — China, Tanzania and Zambia — are meeting in Dar es Salaam to put together details of the plan whose proposal include reducing the bloated Tazara workforce, The East African reported.
The plan will include renovating the 1,860 kilometers track and linking Tazara to Tanzania’s new Bagamoyo port and to Malawi, the Democratic Republic of Congo, Rwanda and Burundi.
The plan is part of the China-Africa co-operation agenda discussed at the Forum On China-Africa Co-operation in Johannesburg in December 2015, Rowland Msiska, secretary to the Zambia Cabinet said.
“Rwanda, Burundi and Eastern DR Congo will be linked through the Seleka-Mpulungu section of Tazara in Zambia, where the construction study has already been completed and is only awaiting financing,” Bruno Ching’andu, Tazara CEO, told the East African.
The Citizen reported that China will take over the management and operation of the railway line in a privatization arrangement that has been termed by the Tanzanian government as turn-around strategy.
Tanzania and Zambia would also review their domestic laws to provide for preferential provisions in the running of Tazara, with a view to attracting more private players.
Source
Not Investing in Africa? Here Are 6 Reasons Why You Should
Africa is on the move, and most international businesses are not aware of the continent’s investment opportunities. Although in the past there have been gaps, there has been a sea change and some investors who were patient enough have reaped from their hard work.
Africa is formalizing its economy in a bid to attract more investors, both local and foreign. The continent also boasts a growing young population, with urbanization expected to drive over 50% of Africans to cities by 2050.
One major caution while investing in the fastest growing economy is that the region will test an investor’s patience. That is not to say that investors should hold back. On the contrary, economists believe it’s time for investors to channel their money into Africa due to a number of factors that are falling into place including the increasing middle-class population.
Tarek Sultan Al Essa, Chief Executive Officer and Vice-Chairman, Board of Agility, Kuwait expounds on six reasons why investors should consider investing in Africa, in an article which is part of World Economic Forum’s Africa series dubbed ‘Agenda in Focus: Africa’.
Africa needs ‘connectors’
Africa lacks adequate roads, rails, ports, airports, power grids and IT backbone which are key to lifting African economies. The insufficient infrastructure hinders the robust growth of imports, exports, and regional business.
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