Govt, South Korea seal deal for Selander bridge

[Geza Ulole]

Govt, South Korea seal deal for Selander bridge
ippmedia.com/en/news/govt-south-korea-seal-deal-selander-bridge

July 24, 2018
24Jul 2018

The Guardian Reporter

News
The Guardian

Govt, South Korea seal deal for Selander bridge

TANZANIA and South Korea yesterday sealed a Memorandum of Understanding (MOU) for the construction of the 250bn/- Selander Bridge in the country’s commercial capital, Dar es Salaam.

The pact was sealed in the presence of President John Magufuli and the visiting South Korea Prime Minister, Lee Nak-yeon.

The 6.2 kilometre-bridge is expected to be completed by 2021. The new bridge will run from the current Selander bridge and along the Indian Ocean beach front in the city.

The 180-tonnage capacity bridge will ferry 55,000 vehicles per day and is expected to greatly reduce congestion along the overwhelmed independence-time Selander bridge.

Tanzania National Roads Agency (Tanroad) and GS Construction Company of South Korea inked the deal at a ceremony held yesterday.

Tanroad chief executive officer Patrick Mfugale said South Korea will cover 82.9 per cent of the cost while Tanzania will fund the remainder.

He said the bypass will connect AgaKhan Obama drive and Coco Beach at the junctions of Kenyatta and Toure roads.

President Magufuli urged the contractor to speed up work.

“With advanced technology that Korea has, I don’t expect the contractor to delay in completing the project,” noted the Head of State.

Meanwhile President Magufuli said he had requested South Korea through Exim Bank to help Tanzania with a soft loan for construction of the Mwanza-based three kilometres Kigongo-Busisi bridge.

He said: “The Good news is that he has promised to convey my request to his President.”

Top Stories

 

[cordoba]

My country is in debt. now??

 

[kennedy0000]

Things are thick.
'Na pesa zetu' country has been unable to construct big projects not because they don't want to borrow, but because nobody is willing to lend them.
Mpaka mkaenda kuomba South Korea.

 

[Geza Ulole]

Things are thick.
'Na pesa zetu' country has been unable to construct big projects not because they don't want to borrow, but because nobody is willing to lend them.
Mpaka mkaenda kuomba South Korea.

na nyie mbona msiombe? FYI We r more lendable, as far as the World knows, moody rating for Tanzania is better than Kenya!

 

[kennedy0000]

na nyie mbona msiombe? FYI We r more lendable, as far as the World knows, moody rating for Tanzania is better than Kenya!

Keep dreaming. Moody does not rate LDCs

 

[Geza Ulole]

Keep dreaming. Moody does not rate LDCs

MARKET NEWS
US agency assigns Tanzania higher credit rating than Kenya
MONDAY, MARCH 5, 2018 20:00
BY CONSTANT MUNDA

A worker emerges from a mine in Arusha. FILE PHOTO | NMG




Global rating agency Moody’s has ranked Tanzania higher than Kenya in credit worthiness.

The US firm has assigned Tanzania a first-time debt issuer rating of B1, a notch higher than Kenya’s B2 after downgrading the latter’s on February 13 because of mounting concerns over a faster pace of new debt accumulation amid sluggish revenue.

Unlike Kenya’s stable outlook thanks to her diversified economy, Moody’s has assigned Tanzania a negative outlook due to unpredictable policy environment, which may hit investments.

That means considerable chances of Tanzania being downgraded to Kenya’s rating band for sovereign credit.

“Uncertainty over the regulatory environment and policy stance of the government, particularly as it relates to the mining sector, could have a long-term negative impact on the country’s growth potential and ability to attract foreign investment,” Moody’s said in a statement on Tanzania’s rating on Monday.

“Even though mining represents only a small share of GDP, the sector is an important source of government revenue and export earnings.”

READ: Treasury disputes Moody's downgrade of Kenya's rating

Kenya’s 7.25 per cent interest on 10-year tranche of $1 billion (Sh101.32 billion) was, for example, higher than Nigeria’s 7.1 per cent on a 12-year $1.25 billion (Sh126.65 billion) bond on February 15 and 6.59 per cent return that Egypt offered on 10-year tranche of its successful $4 billion auction on February 13.

The country is battling fast-maturing debt, with about Sh1 trillion projected in repayments in the next financial year from July.

That is a steep rise from Sh658.23 billion budgeted in the current year that ends in June, and the Sh435.7 billion paid in the year ended June 2017.

https://www.businessdailyafrica.com...-than-Kenya/3815534-4329666-jpuyco/index.html

 

[Se-ronga]

Hii miundombinu inazidi kurahisisha usafiri wa jiji la Dar na kulifanya kuwa la kibiashara zaidi.

Nilipoona Serikali inahamia Dodoma nilifikiri labda Dar itapotezewa,kumbe sivyo, ndo kwanza kumekucha kwa kulundikiwa miundombinu kedekede

Can't wait kuona jinsi majirani watakavyokuwa wanatupia picha za hilo Daraja kwenye social media wakidai eti lipo Lamu[emoji2][emoji2][emoji2][emoji2]

 

[kennedy0000]

MARKET NEWS
US agency assigns Tanzania higher credit rating than Kenya
MONDAY, MARCH 5, 2018 20:00
BY CONSTANT MUNDA

A worker emerges from a mine in Arusha. FILE PHOTO | NMG




Global rating agency Moody’s has ranked Tanzania higher than Kenya in credit worthiness.

The US firm has assigned Tanzania a first-time debt issuer rating of B1, a notch higher than Kenya’s B2 after downgrading the latter’s on February 13 because of mounting concerns over a faster pace of new debt accumulation amid sluggish revenue.

Unlike Kenya’s stable outlook thanks to her diversified economy, Moody’s has assigned Tanzania a negative outlook due to unpredictable policy environment, which may hit investments.

That means considerable chances of Tanzania being downgraded to Kenya’s rating band for sovereign credit.

“Uncertainty over the regulatory environment and policy stance of the government, particularly as it relates to the mining sector, could have a long-term negative impact on the country’s growth potential and ability to attract foreign investment,” Moody’s said in a statement on Tanzania’s rating on Monday.

“Even though mining represents only a small share of GDP, the sector is an important source of government revenue and export earnings.”

READ: Treasury disputes Moody's downgrade of Kenya's rating

Kenya’s 7.25 per cent interest on 10-year tranche of $1 billion (Sh101.32 billion) was, for example, higher than Nigeria’s 7.1 per cent on a 12-year $1.25 billion (Sh126.65 billion) bond on February 15 and 6.59 per cent return that Egypt offered on 10-year tranche of its successful $4 billion auction on February 13.

The country is battling fast-maturing debt, with about Sh1 trillion projected in repayments in the next financial year from July.

That is a steep rise from Sh658.23 billion budgeted in the current year that ends in June, and the Sh435.7 billion paid in the year ended June 2017.

US agency assigns Tanzania higher credit rating than Kenya

Your first rating ever came in 2018. Forgive me for not paying attention to LDC news.
Anyway, go for a Eurobond and prove whether you can or cannot pay.
Otherwise hii ingine ni kelele. Kenya pays its debts religiously. That's why everyone flocks to lend us money. Our Eurobonds are usually oversubscribed like crazy.

 

[Barbarosa]

Things are thick.
'Na pesa zetu' country has been unable to construct big projects not because they don't want to borrow, but because nobody is willing to lend them.
Mpaka mkaenda kuomba South Korea.

,,nobody wants to lend them... mpaka mkanda kuoma Korea", kwa hiyo kwako wewe Korean ni nobody? Maadamu siyo Muzungu aliyetoa, basi waliobakia wote ni wote ni no body?
Kweli nimeamini Mkenya anakwenda Shuleni kujifunza english language tu lkn kichwani hakuna kitu anajua zaidi ya english!

 

[Geza Ulole]

Your first rating ever came in 2018. Forgive me for not paying attention to LDC news.
Anyway, go for a Eurobond and prove whether you can or cannot pay.
Otherwise hii ingine ni kelele. Kenya pays its debts religiously. That's why everyone flocks to lend us money. Our Eurobonds are usually oversubscribed like crazy.

View attachment 817722

na mbona mli-default paying immediately after the last election and resorted into taking a loan to pay old debts.

 

[kennedy0000]

,,nobody wants to lend them... mpaka mkanda kuoma Korea", kwa hiyo kwako wewe Korean ni nobody? Maadamu siyo Muzungu aliyetoa, basi waliobakia wote ni wote ni no body?
Kweli nimeamini Mkenya anakwenda Shuleni kujifunza english language tu lkn kichwani hakuna kitu anajua zaidi ya english!

Korea is not a major lending country. Naelewa masomo ya bongolala iko chini, so I'll forgive you for not comprehending.
Akili yako inafikiria tu literally.
For you to go begging to Korea, you failed to secure everywhere else.
Sidhani utaelewa hii kiingereza, lakini nitasema anyway. Inaitwa 'last resort'.

 

[kennedy0000]

name mbona mli-default paying immediately after the last election and resorted into taking a loan to pay debt.

Are you mad?
Kenya has never defaulted even a single cent.

 

[Barbarosa]

Korea is not a major lending country. Naelewa masomo ya bongolala iko chini, so I'll forgive you for not comprehending.
Akili yako inafikiria tu literally.
For you to go begging to Korea, you failed to secure everywhere else.
Sidhani utaelewa hii kiingereza, lakini nitasema anyway. Inaitwa 'last result'.

Unamaanisha nini kwa kusema siyo major lending country? Na hiyo unayoiita major lending country ni ipi na kwa definition ya nani? Yaani nani anaamua nchi ipi ni ,,major lending country" ?

 

[kennedy0000]

Unamaanisha nini kwa kusema siyo major lending country? Na hiyo unayoiita major lending country ni ipi na kwa definition ya nani? Yaani nani anaamua nchi ipi ni ,,major lending country" ?

Countries that borrow regularly and pay debts on time know who the major lending countries and institutions are.
Bongolala hamuwezi elewa hii.

USA
China
Japan
UK
Germany
France
etc.

IMF
World Bank
ADB

South Korea does not make it on any list.

 

[Kiranga]

Nyumba ya marehemu Jaji Nyalali pamoja na ule mnara wa kuongoza meli pale makutano ya Toure na Kenyatta vitapona kweli au ndiyo itabidi vipishe maendeleo tu?

Maana kama nakumbuka vizuri pale si ndio penye junction ya Toure na Kenyatta pale?

 

[thisdayes]

Korea is not a major lending country. Naelewa masomo ya bongolala iko chini, so I'll forgive you for not comprehending.
Akili yako inafikiria tu literally.
For you to go begging to Korea, you failed to secure everywhere else.
Sidhani utaelewa hii kiingereza, lakini nitasema anyway. Inaitwa 'last result'.

Siyo LAST RESULT ni LAST RESORT. Go back to school idiot

 

[kirk git]

Siyo LAST RESULT ni LAST RESORT. Go back to school idiot

Nincompoop, you are a moron. The biggest ever!

 

[Barbarosa]

Countries that borrow regularly and pay debts on time know who the major lending countries and institutions are.
Bongolala hamuwezi elewa hii.

USA
China
Japan
UK
Germany
France
etc.

IMF
World Bank
ADB

South Korea does not make it on any list.

Nani amekwambia Korea hawalipi madeni yao? Isitishe Deni la USA ni zaidi ya 100% ya GDP yake, Uingereza ina madeni hadi kuliko maelezo hata Brexit imewashinda shauri ya madeni!

 

[kennedy0000]

Nani amekwambia Korea hawalipi madeni yao? Isitishe Deni la USA ni zaidi ya 100% ya GDP yake, Uingereza ina madeni hadi kuliko maelezo hata Brexit imewashinda shauri ya madeni!

Hakuna aliyesema Korea hailipi madeni. Jifunze kusoma vizuri.
Nyinyi bongolala ndio hamjaprove mko na capacity ya kulipa madeni makubwa.

 

[Geza Ulole]

Hakuna aliyesema Korea hailipi madeni. Jifunze kusoma vizuri.
Nyinyi bongolala ndio hamjaprove mko na capacity ya kulipa madeni makubwa.

Wacha wivu wa kike, we discover donors of soft loans. South Korea has offered over $5 bln to African countries more than what the US has offered. FYI even for that China u r looking up to, Tanzania was the first African country in 1960s to be issued a huge loan from at the time no one believed the country could afford to lend. Now a poor capitalist Kenya is licking communist China's feet at a cost of being overcharged. U r pathetic!