At least 15 people have been killed and several others wounded in a stampede in Morocco while food aid was distributed.
The incident occurred in the town of Sidi Boulaalam in Essaouira province. The aid was being handed out by a private local charity.
Some reports indicate that up to 40 people were injured in the crush. Local media reported that most of the victims were women and elderly people.
Pictures on social media showed bodies of women laid out on the ground.
Witnesses told local media that this year’s annual food aid distribution at a local market in Sidi Boulaalam, an impoverished town with just over 8,000 inhabitants, attracted a larger crowd than usual.

“This year there were lots of people, several hundred people,” a witness who asked to remain anonymous told AFP news agency.
“People shoved, they broke down the barriers,” he said, adding that the injured had been evacuated to a hospital in Marrakesh.
Morocco’s interior ministry said that King Muhammed VI had instructed the local authorities to help those affected, adding that he would personally cover all medical and funeral costs.
An unverified video shot by a bystander before the incident showed a large crowd gathered at the open-air market, waiting for the food distribution.
It is not clear what triggered the stampede.

THE ICT sphere has undergone distinct stages of evolution and has lately been focussing on going digital, which means shifting the paradigm from traditional business to an intelligent society.

Huawei President, Southern Africa Region, Mr Li Pengon has based on recent studies, seven out of 10 of the world’s fastest growing companies are in Africa, the beginning of a trend that will give rise to new digital economies.

“Digital strategy is generally best seen as a tripartite engagement between the government as enabler, carriers as promoters and technology partners as solution providers in a win-win context.

However, based on statistics from Hoot-suite, Africa is a relatively distinctive continent with only 29 percent of internet penetration and 14 percent active on social media.

Nonetheless, Africa is known to be the technological renaissance. He said that in 2016, GSMA has shown that 300+ hubs have emerged in the African Tech Startup ecosystem. Investors are recognising the potential as well, and so, going digital is a strategic decision for any African enterprise.

It does not only boost macro-economic growth but also solve legacy enterprise or carrier issues in terms of time to market, shrinking traditional revenue streams, controlling costs, driving new revenues, monetising investments, and achieving convergence,” he said.

He added that there are substantial benefits of digital versus the traditional way of conducting business, in the likes of improved efficiency, slimmer cost structure, faster time to market with focus on the customer, new services and openness.

Hence, he said cloud can be depicted as the stairway of digital strategy. The most optimal way to go about this change from legacy IT mode of operations to the digital world is by adopting modular and converged cloud architecture.

Mr Peng said choice of infrastructure is paramount to allow for future flexibility, scalability and evolution supporting all flavours of cloud, whether public, private, or hybrid. He said that many enterprises including banks have adopted cloud by initially moving internal and non-business critical applications before shifting the critical applications.

By Obinna Chima
The World Bank has predicted that oil prices would rise to $56 a barrel in 2018 from $53 this year, as a result of steadily growing demand, agreed production cuts among oil exporters and stabilising United States shale oil production.

In addition, the Bank predicted that the surge in metals prices was expected to level off next year.

Oil prices rallied on Friday, sending the global crude benchmark above $60 a barrel for the first time in more than two years and lifting the U.S. benchmark for the commodity to its highest finish in nearly eight months.

Prices found support on speculation that the Organisation of the Petroleum Exporting Countries and other major producers would agree to extend their production-cut deal through the end of the next year. To this end, Brent, the global benchmark rose 1.9 per cent to close at $60.44 a barrel. That was the highest settlement for a front-month contract since July 2015. The contract rose about 4.7% for the week.

But the World Bank in its October Commodity Markets Outlook, pointed out that prices for energy commodities – which include oil, natural gas, and coal — were forecast to climb four percent in 2018 after a 28 percent leap this year.

The metals index was expected to stabilise in the coming year, after a 22 percent jump this year as a correction in iron ore prices is offset by increased prices in other base metals.

Also, prices for agricultural commodities, including food commodities and raw materials, were anticipated to recede modestly in 2017 and edge up next year.

“Energy prices are recovering in response to steady demand and falling stocks, but much depends on whether oil producers seek to extend production cuts,” the Senior Economist and lead author of the Commodity Markets Outlook, John Baffes said.

“Developments in China will play an important role in the price trajectory for metals.”

The oil price forecast saw a small downward revision from the April outlook and is subject to risks.

Supplies from producers such as Libya, Nigeria, and Venezuela could be volatile.

“Members of the Organisation of the Petroleum Exporting Countries and other producers could agree to cut production further, maintaining upward pressure on prices.

“However, failure to renew the agreement could drive prices down, and could increase production from the U.S. shale oil industry. Natural gas prices are expected to rise 3 percent in 2018, while coal prices are seen retreating following a climb of nearly 30 percent in 2017.

“China’s environmental policies are anticipated to be a key factor determining future trends in coal markets.

Iron ore prices are forecast to tumble 10 percent in the coming year but tight supply should push up prices for base metals including lead, nickel and zinc,” it added.

According to the report, downside risks to the forecast include slower-than-anticipated demand from China, or an easing of production restrictions on China’s heavy industries. Gold prices were anticipated to ease next year on expectations of higher U.S. interest rates.

Agriculture prices were however expected to edge up in 2018 due to reduced supplies, with grain and oils and meals prices rising marginally. “Agricultural commodities markets are well-supplied and the stocks-to-use ratios (a measure of how well supplied markets are) of some grains are forecast to be at multi-year highs.

“However, favorable weather patterns, well-supplied global food markets, and relatively low world prices do not necessarily imply ample food availability everywhere.

“Drought conditions that are by some accounts the worst in 60 years, have caused crops failures in parts of Ethiopia, Somalia and Kenya and led to severe food shortages. Conflicts in South Sudan, Yemen and Nigeria have driven millions of people from their homes and left millions more in need of emergency food,” it added.

The World Bank’s Commodity Markets Outlook provides detailed market analysis for major commodity groups, including energy, metals, agriculture, precious metals, and fertilizers.

The report includes price forecasts to 2030 for more than 45 commodities. It also provides historical price data and supply, demand, and trade balances for most commodities.

Interbank Market

After rising to as high as 148 per cent last Monday, the overnight tenor of the Nigerian Interbank Offered Rate (NIBOR) reduced significantly to 18..75 per cent on Friday, reflecting the improved liquidity position in the interbank naira market.

The overnight tenor had risen to as high as 148 per cent last Monday, before dropping to 120 per cent on Tuesday as news of a Federal High Court ex parte order instructing all Nigerian banks to forfeit all monies held in accounts without bank verification numbers (BVNs) to the federal government in 14 days from the date the order was given, filtered into the market.

But the inflow from Federal Accounts Allocation Committee (FAAC) helped to ease the tight naira liquidity of the market. Traditionally, FAAC allocation passes through the banking system.

The Accountant-General of the Federation, Mr. Ahmed Idris, disclosed that the federal government, states and local governments shared N558.082billion in October compared to N637.704 shared in the previous month. Idris made this known at the end of the monthly FAAC meeting in Abuja. According to him, the sum was inclusive of Value Added Tax (VAT).

CBN Injects $481m in One Week

The Central Bank of Nigeria (CBN) last week injected a total of $481 million into the interbank foreign exchange market.

A breakdown of this showed that while $195 million was pumped in at the beginning of the week, the banking sector regulator injected an additional $285,759,449, to meet requests in four sectors of the economy.

Details obtained from the CBN indicated that the agricultural, airlines, petroleum and raw materials were the four sectors that received various sums of allocation forex allocation from the CBN based on requests put forward by their respective banks.

Confirming the figures, the acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the intervention underlined the high levels of transparency of the Bank in foreign exchange management.

According to him, the CBN would continue to play its role in easing the foreign exchange pressure on manufacturing and agricultural sectors through sales under the new flexible Foreign Exchange regime.

The CBN has consistently injected funds into in the interbank foreign exchange market to ensure liquidity, thereby easing pressure on the local tender currency.

Meanwhile, the naira closed at N360 to the dollar on the Bureau De Change segment yesterday.

Adeosun Clarifies Borrowing

The Minister of Finance, Mrs. Kemi Adeosun, last week explained that the federal government was not desirous of borrowing fresh loans, but seeking to refinance what is known as legacy or inherited debts.

Her explanation was sequel to reactions trailing the request by the executive arm of government to the National Assembly seeking approval of the sum of $5.5 billion to help finance the 2017 Budget.

The minister, who featured on an Arise TV programme, the broadcast arm of THISDAY Newspapers, said the APC-led government would channel $3billion of the $5.5 billion into refinancing inherited debts from the previous administration.

She stated: “Let me explain the $5.5 billion borrowing because there have been some misrepresentations in the media in the last few weeks. The first component of $2.5 billion represents new external borrowing provided for in the 2017 Appropriation Act to part finance the deficit in that budget.

“The borrowing will enable the country to bridge the gap in the 2017 Budget currently facing liquidity problem to finance some capital projects.”

She added: “For the second component, we are refinancing existing domestic debt with the $3 billion external borrowing. This is purely a portfolio restructuring activity that will not result in an increase in the public debt.

“What we are simply doing is moving that debt from owing naira to owing dollars, but because it’s an external borrowing, we have to go back to the National Assembly for approval.

Code of Corporate Governance

The Financial Reporting Council of Nigeria (FRC) last week opened up on plans to reintroduce its proposed harmonised National Code of Corporate Governance (NCCG) that was suspended by the federal government early this year due to controversies surrounding the policy.

The NCCG was suspended following concerns raised by private sector operators with certain aspects of the code and the announcement by the General Overseer of the Redeemed Christian Church of God (RCCG), Mr. Enoch Adeboye that he was stepping down as head of the church in compliance with the tenure limit stipulated by the code of conduct not-for-profit bodies.

Adeboye’s decision to step down as head of the church also prompted President Muhammadu Buhari to sack the former executive secretary of FRC, Mr. Jim Obaze.

However, the incumbent executive secretary and chief executive of the FRC, Mr. Daniel Asapokhai, revealed the decision to revisit the corporate governance code during an interview. According to him, a draft document would be presented to members of the public in the next six months for input and suggestions by stakeholders.

The new FRC boss, in his response to a question from THISDAY, said a board committee to supervise the planned reintroduction of the code has been constituted.

He, however, did not disclose details of the framework of the NCCG that his organisation intends to bring back to existence.

Asapokhai explained: “On revisiting the code, the work has started. The board committee to supervise that work has been constituted. They have had their first meeting and they understand the scope of work that needs to be done.

By Obinna Chima

The World Bank has predicted that oil prices would rise to $56 a barrel in 2018 from $53 this year, as a result of steadily growing demand, agreed production cuts among oil exporters and stabilising United States shale oil production.

In addition, the Bank predicted that the surge in metals prices was expected to level off next year.

Oil prices rallied on Friday, sending the global crude benchmark above $60 a barrel for the first time in more than two years and lifting the U.S. benchmark for the commodity to its highest finish in nearly eight months.

Prices found support on speculation that the Organisation of the Petroleum Exporting Countries and other major producers would agree to extend their production-cut deal through the end of the next year. To this end, Brent, the global benchmark rose 1.9 per cent to close at $60.44 a barrel. That was the highest settlement for a front-month contract since July 2015. The contract rose about 4.7% for the week.

But the World Bank in its October Commodity Markets Outlook, pointed out that prices for energy commodities – which include oil, natural gas, and coal — were forecast to climb four percent in 2018 after a 28 percent leap this year.

The metals index was expected to stabilise in the coming year, after a 22 percent jump this year as a correction in iron ore prices is offset by increased prices in other base metals.

Also, prices for agricultural commodities, including food commodities and raw materials, were anticipated to recede modestly in 2017 and edge up next year.

“Energy prices are recovering in response to steady demand and falling stocks, but much depends on whether oil producers seek to extend production cuts,” the Senior Economist and lead author of the Commodity Markets Outlook, John Baffes said.

“Developments in China will play an important role in the price trajectory for metals.”

The oil price forecast saw a small downward revision from the April outlook and is subject to risks.

Supplies from producers such as Libya, Nigeria, and Venezuela could be volatile.

“Members of the Organisation of the Petroleum Exporting Countries and other producers could agree to cut production further, maintaining upward pressure on prices.

“However, failure to renew the agreement could drive prices down, and could increase production from the U.S. shale oil industry. Natural gas prices are expected to rise 3 percent in 2018, while coal prices are seen retreating following a climb of nearly 30 percent in 2017.

“China’s environmental policies are anticipated to be a key factor determining future trends in coal markets.

Iron ore prices are forecast to tumble 10 percent in the coming year but tight supply should push up prices for base metals including lead, nickel and zinc,” it added.

According to the report, downside risks to the forecast include slower-than-anticipated demand from China, or an easing of production restrictions on China’s heavy industries. Gold prices were anticipated to ease next year on expectations of higher U.S. interest rates.

Agriculture prices were however expected to edge up in 2018 due to reduced supplies, with grain and oils and meals prices rising marginally. “Agricultural commodities markets are well-supplied and the stocks-to-use ratios (a measure of how well supplied markets are) of some grains are forecast to be at multi-year highs.

“However, favorable weather patterns, well-supplied global food markets, and relatively low world prices do not necessarily imply ample food availability everywhere.

“Drought conditions that are by some accounts the worst in 60 years, have caused crops failures in parts of Ethiopia, Somalia and Kenya and led to severe food shortages. Conflicts in South Sudan, Yemen and Nigeria have driven millions of people from their homes and left millions more in need of emergency food,” it added.

The World Bank’s Commodity Markets Outlook provides detailed market analysis for major commodity groups, including energy, metals, agriculture, precious metals, and fertilizers.

The report includes price forecasts to 2030 for more than 45 commodities. It also provides historical price data and supply, demand, and trade balances for most commodities.

Interbank Market

After rising to as high as 148 per cent last Monday, the overnight tenor of the Nigerian Interbank Offered Rate (NIBOR) reduced significantly to 18..75 per cent on Friday, reflecting the improved liquidity position in the interbank naira market.

The overnight tenor had risen to as high as 148 per cent last Monday, before dropping to 120 per cent on Tuesday as news of a Federal High Court ex parte order instructing all Nigerian banks to forfeit all monies held in accounts without bank verification numbers (BVNs) to the federal government in 14 days from the date the order was given, filtered into the market.

But the inflow from Federal Accounts Allocation Committee (FAAC) helped to ease the tight naira liquidity of the market. Traditionally, FAAC allocation passes through the banking system.

The Accountant-General of the Federation, Mr. Ahmed Idris, disclosed that the federal government, states and local governments shared N558.082billion in October compared to N637.704 shared in the previous month. Idris made this known at the end of the monthly FAAC meeting in Abuja. According to him, the sum was inclusive of Value Added Tax (VAT).

CBN Injects $481m in One Week

The Central Bank of Nigeria (CBN) last week injected a total of $481 million into the interbank foreign exchange market.

A breakdown of this showed that while $195 million was pumped in at the beginning of the week, the banking sector regulator injected an additional $285,759,449, to meet requests in four sectors of the economy.

Details obtained from the CBN indicated that the agricultural, airlines, petroleum and raw materials were the four sectors that received various sums of allocation forex allocation from the CBN based on requests put forward by their respective banks.

Confirming the figures, the acting Director, Corporate Communications Department, CBN, Isaac Okorafor, said the intervention underlined the high levels of transparency of the Bank in foreign exchange management.

According to him, the CBN would continue to play its role in easing the foreign exchange pressure on manufacturing and agricultural sectors through sales under the new flexible Foreign Exchange regime.

The CBN has consistently injected funds into in the interbank foreign exchange market to ensure liquidity, thereby easing pressure on the local tender currency.

Meanwhile, the naira closed at N360 to the dollar on the Bureau De Change segment yesterday.

Adeosun Clarifies Borrowing

The Minister of Finance, Mrs. Kemi Adeosun, last week explained that the federal government was not desirous of borrowing fresh loans, but seeking to refinance what is known as legacy or inherited debts.

Her explanation was sequel to reactions trailing the request by the executive arm of government to the National Assembly seeking approval of the sum of $5.5 billion to help finance the 2017 Budget.

The minister, who featured on an Arise TV programme, the broadcast arm of THISDAY Newspapers, said the APC-led government would channel $3billion of the $5.5 billion into refinancing inherited debts from the previous administration.

She stated: “Let me explain the $5.5 billion borrowing because there have been some misrepresentations in the media in the last few weeks. The first component of $2.5 billion represents new external borrowing provided for in the 2017 Appropriation Act to part finance the deficit in that budget.

“The borrowing will enable the country to bridge the gap in the 2017 Budget currently facing liquidity problem to finance some capital projects.”

She added: “For the second component, we are refinancing existing domestic debt with the $3 billion external borrowing. This is purely a portfolio restructuring activity that will not result in an increase in the public debt.

“What we are simply doing is moving that debt from owing naira to owing dollars, but because it’s an external borrowing, we have to go back to the National Assembly for approval.

Code of Corporate Governance

The Financial Reporting Council of Nigeria (FRC) last week opened up on plans to reintroduce its proposed harmonised National Code of Corporate Governance (NCCG) that was suspended by the federal government early this year due to controversies surrounding the policy.

The NCCG was suspended following concerns raised by private sector operators with certain aspects of the code and the announcement by the General Overseer of the Redeemed Christian Church of God (RCCG), Mr. Enoch Adeboye that he was stepping down as head of the church in compliance with the tenure limit stipulated by the code of conduct not-for-profit bodies.

Adeboye’s decision to step down as head of the church also prompted President Muhammadu Buhari to sack the former executive secretary of FRC, Mr. Jim Obaze.

However, the incumbent executive secretary and chief executive of the FRC, Mr. Daniel Asapokhai, revealed the decision to revisit the corporate governance code during an interview. According to him, a draft document would be presented to members of the public in the next six months for input and suggestions by stakeholders.

The new FRC boss, in his response to a question from THISDAY, said a board committee to supervise the planned reintroduction of the code has been constituted.

He, however, did not disclose details of the framework of the NCCG that his organisation intends to bring back to existence.

Asapokhai explained: “On revisiting the code, the work has started. The board committee to supervise that work has been constituted. They have had their first meeting and they understand the scope of work that needs to be done.

By Diana Mutheu

A bus company has closed its offices in parts of Western and Nyanza due to insecurity after the repeat presidential election.

Mash East Africa stopped operations to and from Kisumu, Mumias, Kakamega and Malaba towns last Saturday.

SAFETY

The management said the move was meant to protect passengers’ lives and also prevent the possible destruction of the vehicles.

The towns experienced protests after the repeat presidential election conducted last Thursday.

Speaking to the Nation at the bus’s Mwembe Tayari office in Mombasa County, General-Manager Lennox Shallo said the offices had to be closed and the buses withdrawn.

“We have closed to secure our buses and also the lives of the passengers. If my property is destroyed, no one will pay me,” he said.

Mr Shallo said the business is also performing poorly as the number of passengers has dropped drastically.

FEW TRAVELLERS

A day before the October 26 repeat presidential poll, the company had two buses full with passengers.

“We had two buses operating to and from Nairobi carrying the many passengers before the recently concluded election. However, we now only have a few people travelling. Like now [Saturday] only 10 people are travelling to Nairobi,” he said.

Mr Shallo added that people have stopped travelling from Mombasa as it is safer in the county than other parts of the country.

“Mombasa is safer. This may be the reason why people have postponed travelling,” he added.

Bus operations from Mombasa to Nairobi have also been affected by the Madaraka Express as most passengers prefer the train services due to safety and speed.

By Wole Oyebade

Some stakeholders in the aviation sector, including members of the National Assembly, are worried that investors from some Middle East countries are expressing interest in the planned concession of Nigerian airports.

The Guardian learnt that the interests thus far received from countries like Turkey, Saudi Arabia and Qatar are bothering the stakeholders because of the security implication for Nigeria and alleged “northern agenda” currently put forward either by coincidence or deliberately in the concession buildup.

The Federal Executive Council (FEC) recently granted approval for the concession of the four international airports in Lagos, Abuja, Port Harcourt and Kano. The approval, currently being worked out by the Ministry of Aviation, is the first phase of the plan to concession all the 22 Federal Government-owned airports nationwide.

Senior Special Assistant to the President on Media and Publicity, Garba Shehu, last week recounted the gains of President Muhammadu Buhari’s recent visit to Turkey and among the mentioned is the expression of interest by Turkish investors.

Besides Turkey, Saudi and Qatari investors have also shown interest in the multi-million dollar concession arrangement.At one of the public hearings held last Thursday, members of the National Assembly joint committee on aviation got worried about the antecedent of a country like Turkey that has lately been embroiled in political unrest, as well as serving as a channel through which arms and ammunition were smuggled into Nigeria.

While the Turkish authorities have denied having a hand in the arms-trafficking saga, aviation experts are wary of future transactions with investors with Turkish interests.

A member of a civil society organisation, who was at the hearing, said some lawmakers were of the view that if the biddings were restricted to the middle east, then it will not get the buy-in of Nigerians who “will see it as coloured by a northern and religious agenda.”

Aviation union members present at the meeting said it was to prevent the airports from falling into the wrong hands that they demanded to be part of the concession process for transparency. The unions were, however, happy that the Federal Government has promised to ensure transparency by involving them.

On the implication of such concerns for the concession plan, aviation security consultant, Group Capt. John Ojikutu (rtd), said he was as disturbed as the lawmakers, though he was quick to add that it was still early to conclude.

Ojikutu told The Guardian that “whereas we cannot but be skeptical with the biddings, expression of interest is also coming from Europe and Canada, and all need to be patient.”

He said from his conversation with the Minister of State for Aviation, Hadi Sirika, there were several hurdles in the concession process and it was less likely that the wrong bidders would be able to grab a pie in the exercise.

Ojikutu, who is also the Secretary General of the Aviation Safety Round Table Initiative (ASRTI), said: “I am as worried as you, no doubt about that. The National Assembly is also as worried. I think, from what I’ve heard, the minister too is very cautious with what he is doing. Just the way he handled the Abuja airport’s runway is the way he is handling this.

“From the look of things now, they have not left the level of getting the consultants of about three or four to package things together. When they get to that stage, there must be a stakeholders’ meeting, and there would be. It is not only the concession, but also the national carrier, maintenance facility and aerotropolis that are being packaged.

“So, it is too early to start speculating because in any case, all these things will still have to go through the infrastructure concession commission, the PPP, Ministry of Justice and then the Federal Executive Council for approval.

“But in lieu of the security concerns, I have advised them to focus on concession of the terminals, cargo sections and car parks among others, but not the aeronautical side. The International Civil Aviation Organisation (ICAO) has even warned African countries since 2009 not to concession aeronautical side in the light of security issues around us,” Ojikutu said.

By Katare Mbashiru in Dodoma

THE much anticipated Bagamoyo Port that is expected to boost the country’s economy and attract big investments in the country is expected to kick off operations between 2020 and 2021, Deputy Minister for Trade, Industries and Investment, Engineer Stella Manyanya has confirmed.

Eng Manyanya who was addressing a Parliamentary Standing Committee on Industries, Trade and Environment in Dodoma yesterday said the 6.9bn/- project for a modern port was being carried out through a collaboration of China and Oman, expressing optimism that over 190 industries will be constructed on the Bagamoyo area, including the manure processing industry that will be put up by the government of Oman.

At a committee meeting led by Mvomero MP, Suleiman Sadiq, the deputy minister said when the port becomes operational, it will attract more investors who will equally help the country to attain its industrial economy agenda, currently being propagated by the fifth phase government.

Eng Manyanya who was appointed by president John Magufuli as deputy minister in the ministry in the recent cabinet reshuffle told the committee that the 6.9bn/- project was being carried out by the Chinese based company– Merchants Holdings International Company Limited (MHICL), and State General Reserve of Oman.

On February 16 this year, the then Chinese Ambassador to Tanzania, Dr Lu Youqing, said the Bagamoyo project would turn Bagamoyo into Shenzhen, a city in China which was transformed into a Special Economic Zone area.

Dr Youqing noted that MHICL, which is implementing the Bagamoyo project, developed Shenzhen. He further said that Tanzania had attached great importance to the Bagamoyo project which is a joint project of Tanzania, China and Oman.

“The government of Tanzania has attached great importance to the Bagamoyo Port and adjacent Industrial Park, and it has listed it in the second five-year national development plan.

“This is a mega project, it is a huge work to turn Bagamoyo into Shenzhen of Tanzania,” he explained, noting that the Chinese developer wanted to implement the project in phases. “With regard to the port, the three parties have reached a general consensus on construction and operation of the port. The port consists of eight kilometres Port Zone and a logistics centre… there will be dredging water channels to the port,” he explained.

According to the Tanzania Investment Centre (TIC) statistics, by the end of June 2016, Chinese investment in Tanzania had reached 6.62 billion US dollars, with about 600 Chinese companies operating in Tanzania.

Oman on the other hand, has had profitable diplomatic relations with Tanzania, investing in various projects including that of Bagamoyo. “The strategy that we have in our government is that by 2020, the Bagamoyo Port should start offering services and it will be receiving big cargo vessels.

Oman will offer a good assistance to our government in helping our people in the country,” said the deputy minister yesterday.

Eng Manyanya was quick to point out that by 2025, Tanzania would realise its industrial economy agenda, insisting that the Bagamoyo port would similarly put up proper infrastructure, including roads and electricity, adding that even the gas pipeline would cross over the port.