World Business News

700 contracts in Nigeria are set to be issued for the provision of structures and facilities in primary schools, Dr. Philip Tachin, the Executive Chairman of the State Universal Basic Education Board (SUBEB) has announced.

Dr. Tachin clarified that the contracts will be given out on merit, under his watch and that of the SUBEB. He added that the board will stress on project delivery.

However, Governor Samuel Ortom, the State’s Governor has already approved the release of US$19.2m as counterpart fund for the projects which are estimated to cost US$38.4m.

Tanzania is set to finish two major projects that will connect electricity to Kenya and Zambia by 2019, this is according to the ministry of Energy and Minerals.

The Deputy Permanent Secretary in the Ministry of Energy and Minerals, Dr. Juliana Pallangyo confirmed the news during a Southern Africa Power Pool (SAPP) executive committee meeting and said that Tanzania was missing a chance to trade power with other Southern Africa Development Community (SADC) member countries due to not being interconnected.

“Tanzania is missing a chance of trading power with other SADC countries but this initiative of partnering with Zambia will boost its economy.

The United States has committed US$497m to boost power sector in Ghana to aid its transformation.

Addressing students and faculty members of the Kwame Nkrumah University of Science and Technology (KNUST), in Kumasi, Mr. Robert Porter Jackson, the US Ambassador, revealed that the power initiative is under the “President Obama’s Power Africa Initiative”, which is intended to boost electrical power supply across the Africa continent.

Ambassador Jackson further elaborated on his Country’s policy towards Ghana in the areas of good governance, health,education,security and peace.

“We are determined to give strong backing to trade and investment promotion that will create wealth and jobs for the people,” stated Jackson.

Major Chinese energy companies are interested in investing in Tanzania’s energy sector that has proved to be worthwhile.

During a meeting with the Deputy Permanent Secretary in the Ministry of Energy and Minerals, Dr. Juliana Pallangyo, officials from the ministry, Tanzania Electric Supply Company (Tanesco), State Mining Company (Stamico), National Development Corporation (NDC) and Energy and Water Utility Regulatory Authority (EWURA), the investors from China made their interest public.

Present at the meeting was a representative from an association of Chinese business community in Tanzania, Lin Zhiyong who confirmed the reports and said that China was interested in exploring new opportunities in the energy sector and were ready to cooperate with the local investors in electricity generation so that Tanzania can have reliable power which is key for the growth of any economy.