Tanzania’s government expects the size of the economy to increase by 20 percent after rebasing the country’s gross domestic product data to factor in expanding industries such as mining and natural gas.
Burundi’s government took a 15 percent stake in a project to build a nickel and iron mine led by Burundi Mining Metallurgy Ltd., said Danko Konchar, chief executive officer of Kermas Group, the majority owner.
Kenya, Uganda and Tanzania plan to allocate money in their annual budgets to spur investment in infrastructure to exploit oil and natural gas from deposits that companies including Tullow Oil Plc are developing.
Tanzania plans to replace secondhand water pipes with new, higher-quality infrastructure to curb distribution losses caused by leakages, the Guardian newspaper reported, citing Water Minister Jumanne Maghembe.
Tanzania may reconsider the proposed introduction of a super-profit tax on natural gas production after gold miners criticized a similar measure recommended three years ago, President Jakaya Kikwete said.