Chinese firm enters East African market with the launch of new 5-Star hotel in Dar-es-salaam

TANZANIA – CRJE limited, a Chinese building & civil contractor, has opened a state-of-the-art Johari Rotana Hotel to cement its presence in Africa’s fast-growing hospitality sector. Hu Bo, Chairman of (East Africa) Limited, said; “We are proud to support the government’s efforts to enhance the hospitality infrastructure and promote the country’s famous tourist attractions, as well as its commercial capital Dar es Salaam.”  “Johari Rotana is the ninth international-standard 5-star hotel we have built in Tanzania. With our rich experience in the hotel construction business and the ever-changing local market,…

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Exim Bank opens new branch in Dar es Salaam after successful acquisition

TANZANIA – The Export–Import Bank (EXIM) of Tanzania has officially opened its newest branch in Dar es Salaam’s Mkwepu Street in its plan to spread and expand nationwide. According to Daily News, this follows the bank’s successful acquisition of UBTL Bank, subsidiary of Pakistan’s UBL Bank, This makes Exim Bank the first private sector bank to embark in the consolidation of banking sector in the country. Post-acquisition Exim Bank becomes one of the top5 banks in the country with an asset base of TSh1.7trl (US$737m) “We are delighted by the…

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