Corporate Affairs
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Tanzania, Burundi sign $900m railway deal to boost trade
Tanzania and Burundi have signed an agreement to build a $900-million railway that will connect the neighbouring East African nations. The two sides signed a memorandum of understanding to construct a 282 km line from the western Tanzanian town of Uvinza to Burundi’s capital Gitega. Finance and transport ministers from the two countries signed the deal in the western Tanzanian town of Kigoma on Sunday, Tanzania’s finance ministry said in a statement.
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Tanzania, Burundi sign $900m railway deal to boost trade
Tanzania and Burundi have signed an agreement to build a $900-million railway that will connect the neighbouring East African nations. The two sides signed a memorandum of understanding to construct a 282 km line from the western Tanzanian town of Uvinza to Burundi’s capital Gitega. Finance and transport ministers from the two countries signed the deal in the western Tanzanian town of Kigoma on Sunday, Tanzania’s finance ministry said in a statement.
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Record ships sailed Suez Canal in 2021 despite Ever Given saga
More ships traversed the Suez Canal in 2021 than ever before despite its temporary blocking by a 400-meter-long vessel and the effects of the coronavirus pandemic. Volumes are expected to continue to rise this year and again after a project to expand the waterway is completed, said the Suez Canal Authority. The Suez Canal generated $6.3-billion in fees from 20 694 ships passing through in 2021, said SCA’s chairperson and managing director Osama Rabie in an interview in Dubai on Sunday. Volumes will be higher in 2022, despite a 6% increase in tolling charges from February, because ship-makers are building more vessels, he said.
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Record ships sailed Suez Canal in 2021 despite Ever Given saga
More ships traversed the Suez Canal in 2021 than ever before despite its temporary blocking by a 400-meter-long vessel and the effects of the coronavirus pandemic. Volumes are expected to continue to rise this year and again after a project to expand the waterway is completed, said the Suez Canal Authority. The Suez Canal generated $6.3-billion in fees from 20 694 ships passing through in 2021, said SCA’s chairperson and managing director Osama Rabie in an interview in Dubai on Sunday. Volumes will be higher in 2022, despite a 6% increase in tolling charges from February, because ship-makers are building more vessels, he said.
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Graft probe makes damning findings against top officials
A judicial commission which has spent almost four years probing graft in South Africa concluded that the state had been “captured” during former President Jacob Zuma’s tenure and made damning findings against the ruling party and top officials. The panel, headed by Acting Chief Justice Raymond Zondo, submitted the first of a three-part report to President Cyril Ramaphosa on Tuesday, with the others to be handed over by the end of next month. Hundreds of witnesses testified how government coffers were systemically looted over the course of Zuma’s almost-nine-year rule.
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Graft probe makes damning findings against top officials
A judicial commission which has spent almost four years probing graft in South Africa concluded that the state had been “captured” during former President Jacob Zuma’s tenure and made damning findings against the ruling party and top officials. The panel, headed by Acting Chief Justice Raymond Zondo, submitted the first of a three-part report to President Cyril Ramaphosa on Tuesday, with the others to be handed over by the end of next month. Hundreds of witnesses testified how government coffers were systemically looted over the course of Zuma’s almost-nine-year rule.
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Airlink will resume flights to St Helena at the end of next year’s first quarter
South African private-sector airline Airlink and the government of the British Overseas Territory of St Helena have jointly announced that the carrier will resume scheduled air services between Johannesburg and the island in late March next year. The e…
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Airlink will resume flights to St Helena at the end of next year’s first quarter
South African private-sector airline Airlink and the government of the British Overseas Territory of St Helena have jointly announced that the carrier will resume scheduled air services between Johannesburg and the island in late March next year. The e…
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Airlink will resume flights to St Helena at the end of next year’s first quarter
South African private-sector airline Airlink and the government of the British Overseas Territory of St Helena have jointly announced that the carrier will resume scheduled air services between Johannesburg and the island in late March next year. The e…
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DP World, CDC pledge $1.7bn infrastructure spending in Africa ports deal
DP World and CDC Group have formed a partnership to develop ports in Africa and committed to spending $1.72-billion on infrastructure over the next few years. DP World, which is based in Dubai and is one of the world’s biggest port operators, will invest $1-billion in facilities including in Dakar in Senegal, Ain Sokhna in Egypt, and Berbera in Somaliland. CDC, a UK-based development finance group, will initially contribute $320-million and has committed an additional $400-million over the next few years.