Standard Chartered Bank to finance Tanzania’s US$1.46bn Standard Gauge Railway Project

TANZANIA – The Government of Tanzania Ministry of Finance has signed a facility agreement with Standard Chartered Tanzania, a commercial bank, for a US$1.46 billion term loan financing to fund the construction of the Standard Gauge Railway (SGR) project from Dar es Salaam to Makutupora. Running approximately 550 kilometres long, the SGR project is one of the country’s biggest projects connecting Dodoma to Dar es Salaam via Morogoro and Makutupora. Once complete, the SGR Rail project will provide a safe and reliable means for efficiently transporting people and cargo to…

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Maendeleo Bank avails US$0.87m in house upgrade loans

TANZANIA – Maendeleo Bank Plc has issued a total of US$0.87m (TSh2bn) for more than 600 low-income earners in Dar es Salaam for upgrading of houses in a mortgage programme, reports IPP Media. This is new loan package designed to support low income earners in all areas where they are to stay in a conducive environment, help government to improve housing in Tanzania with emphasis on durability of the houses, standard of Hygiene, comfort and convenience of the houses, affordability and capacity building. People keen to access loans or building…

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SWVL Plans to expand its services to other cities in Africa

AFRICA – SWVL, Egyptian start-up app-based shuttle service. plans to focus its expansion to other cities in Africa, including Lagos and Johannesburg, reports Kenyan Wall Street. The bus hailing company will use Nairobi as a launchpad to extend to other cities in Africa. This will allow the company to provide reliable, convenient, and affordable public transport across the continent. SWVL plans to launch base in Lagos before the end of the year. Later, the bus-hailing app will reach other cities like Johannesburg, Abidjan, Dar es Salaam, and Addis Ababa. In…

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