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Old April 26th, 2012, 05:17 AM   #181
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Old May 26th, 2012, 07:39 AM   #182
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100 Barclays Bank workers likely to lose jobs this year


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By The guardian reporter
25th May 2012
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Barclays Bank Managing Director, Kihara Maina

Barclays Bank has announced plans to close down 10 branches by the end of this year affecting an estimate of 100 employees as part of the organisation’s strategy to realign its geographical presence in the country.

The affected employees are those working at the organisation’s head office. The bank said interests of the affected employees would be looked after in accordance with the country’s laws and Barclays policies.

Currently, the bank has a network of 32 branches throughout the countrywide and, with this development the network will be reduced by 10 branches.

Barclays Bank Managing Director Kihara Maina said in a press statement released in Dar es Salaam yesterday that such a decision was geared towards ensuring that they delivered according to expectations.

“It is not a decision we are making lightly but we are aiming at improving our services, performance and meeting ambitious operational goals in Tanzania,” he said.

He said the decision would enable the bank to invest more effectively in opportunities as they presented themselves.

He said measures had been put in place to inform customers through various channels. He said they had put in place measures to minimise service disruptions.

Dedicated teams have been set up to address both employee and customer concerns. The bank has further stated that its customers will not be required to open new accounts as their existing accounts will be migrated to the remaining branches.

“Ensuring minimum inconveniences to our customers and affected employees is our priority and we have taken necessary steps internally to minimise any negative effect that changes like this can bring,” said Maina.
SOURCE: THE GUARDIAN
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Old June 4th, 2012, 10:16 AM   #183
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Really? tell us about our land act...is it "usual CCM hogwash"?


UPDATE 2-Tanzania increases royalties in new mining law


Government to hold stake in new projects

* Tanzania is Africa's third largest gold producer

* Firms to list on stock exchange



DAR ES SALAAM, April 24 (Reuters) - Tanzania's parliament has passed a new mining law that increases the rate of royalty paid on minerals like gold from 3 percent to 4 percent and requires the government to own a stake in future mining projects.

Tanzania is Africa's third largest gold producer, but also has reserves of uranium, nickel and coal. Gold exports alone earned it $1.076 billion in 2009, up from $932.4 million the previous year.

The Mining Act 2010 passed late on Friday also requires mining companies to list on the Dar es Salaam Stock Exchange.

As part of the new legislation, Tanzania will not issue new gemstone mining licences to foreign companies. Current agreements with foreign mining companies remain unchanged.

"This bill makes comprehensive provision for prospecting for minerals, mining, processing and dealing in minerals, for the granting, renewal and termination of mineral rights, for payment of royalties, fees and other charges and for any other relevant matters," said part of the legislation.

"The bill is a response to challenges faced and experience gained during 12 years of the implementation of the Mining Act ... that was enacted in the year 1998."

African Barrick Gold ABDL.L (ABX.TO) has four gold mines in Tanzania while Australia's third largest gold miner, Resolute Mining (RSG.AX) and South Africa's Anglogold Ashanti (ANGJ.J) also have gold operations there.

British mining company African Eagle Ltd. (AFE.L) is raising funds for its nickel project in Tanzania.

Gemstones identified by the new law include diamonds, tanzanite, emerald, ruby, sapphire, turquoise, topaz, and others. Gemstone producer Tanzanite One TNZ.L, will not be affected by the new ownership rules.

INVESTOR CONCERNS

Mining stakeholders said they will issue a joint statement on the new mining law on Monday.

"The government will increase revenues a lot thanks to the new mining legislation ... But, it might send a negative signal to investors and might impact foreign direct investment. I'm worried on that," Zitto Kabwe, a member of parliament from the opposition Chadema party told Reuters.

The MP, who was a member of a commission appointed in 2007 to review Tanzania's mining sector, said the new legislation would bring significant changes to mining policy.


"The main highlight of this new legislation is that it makes gemstone mining the preserve of Tanzanians. It also changes the method of calculating royalties by using the gross value of minerals instead of the net value," said Kabwe. reuters.com

we are not puppets of hegemonic powers! strictly national interest and not "false" praises from the west.

..that our economy is statistically better than Tanzanian, while Kenyan citizens are starving, landless and the West make you look even funny when offering a Dog food with racial comments.

"Mighty Mix dog food agent Gaynor Siviter, told a New Zealand reporter: “The dogs thrive on it. They have energy, put on weight. It's bizarre but if it's edible and it works for these people -Kenyans then it's a brilliant idea. It beats eating rice.�?"

"When racism rears its ugly face in the food aid business, the Western media is either silent or will move quickly to excuse blatant incidents as isolated cases. Even international relief agencies have buried their head in the sand and have adopted the its-non-of-our-business approach."

There are many causes of hunger in Africa and these include land rights and ownership, diversion of land to non-productive use, drought, increasing emphasis on export-oriented agriculture, inefficient agricultural practices, war and others. Western countries and their conveyors of food aid have increasingly moved into solving hunger in the conventional sense–donating food is such a way as to perpetuate poverty and dependency in a way that Africans do not readily realize it. Now comes the ultimate insult: The offer of dog food.

“This is the time when Kenya needs leaders like Mugabe,�? a Kenyan commentator said, referring to Zimbabwe’s leader, who has distributed formerly white-owned lands to landless Africans. “Leaders who can come out strongly and say ‘No’ to aid that does not respect the dignity of Africans. Kenyan children are human too and I think Mugabe was right in telling off western countries not to choke Zimbabweans with food they didn't need. If we don't stand firm, Europeans can play dirt things to our people.kenyannews.com

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Tanzania could have had a strong economy today if it did not accept sacrifices in building the future of the region. Joaquim Chissano,

There we are, liberation movements, there we were - depending on the resources in Tanzania.
Robert Mugabe

Most importantly, it was with the moral and material support of the Tanzanian People that we managed to defeat Apartheid.
Jacob Zuma
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Old June 4th, 2012, 10:19 AM   #184
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Gold mining companies pay more to govt at last!!

Gold mining companies pay more to govt at last



Dar es Salaam. Giant gold mining companies, African Barrick Gold (ABG) Limited, Geita Gold Mines and Resolute Gold Mines Ltd have started abiding to the new mining law after concluding a series of negotiations with the government.

The government enacted the new Mining Act in 2010 under which, among other things, raised royalty rates across the board by basing calculations on gross profits rather than net values as before.
Royalty rates for gold are now fixed at 4 per cent, up from 3 per cent, that of uranium is 5 per cent while diamond miners will continue to pay 5 per cent.

The new Act overruns the previous Mining Act 1998 which is credited with liberalising the sector and attracting a surge in foreign direct investment. But there was an outcry to the effect that Tanzania was not getting a fair deal from the mining firms. tanzanianews.com

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Tanzania could have had a strong economy today if it did not accept sacrifices in building the future of the region. Joaquim Chissano,

There we are, liberation movements, there we were - depending on the resources in Tanzania.
Robert Mugabe

Most importantly, it was with the moral and material support of the Tanzanian People that we managed to defeat Apartheid.
Jacob Zuma
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Old June 4th, 2012, 11:10 AM   #185
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Now whats so special about that juvenile painting that it has to be re-posted?
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Old August 30th, 2012, 06:28 PM   #186
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Lots of oil in Lake Tanganyika: survey



Dar es Salaam. An Australian company exploring for oil and gas on the Tanzanian side of Lake Tanganyika could start locating potential sites for drilling huge oil reserves in about six months’ time. Beach Energy says the lake has the potential for large discoveries...<<<thecitizen>>>



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Tanzania could have had a strong economy today if it did not accept sacrifices in building the future of the region. Joaquim Chissano,

There we are, liberation movements, there we were - depending on the resources in Tanzania.
Robert Mugabe

Most importantly, it was with the moral and material support of the Tanzanian People that we managed to defeat Apartheid.
Jacob Zuma
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Old August 30th, 2012, 08:37 PM   #187
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good news mkuu!
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Old August 31st, 2012, 01:17 PM   #188
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Tanzania also leads in mobile payments — airtime top ups, merchants, bills and salary payments

Tanzania top Africa mobile money user

Tanzania is leading in m-commerce (mobile money services) across the Sub Saharan African markets, beating South Africa, Ghana and Nigeria and even Uganda, according to a research released in August this year by Ericcson.

Presenting the findings here on Thursday, a senior advisor with the Swedish company, Anders Elarndsen said according to the research, titled Consumers in Sub-Saharan Africa Ready for Next Step in M-Commerce, Tanzania is leading by 67 per cent in the mobile money services market against Ghana (9) and South Africa (24).

Tanzania also leads in mobile payments — airtime top ups, merchants, bills and salary payments -- by 60 percent, followed by South Africa 19 percent and Ghana by 6 percent. <<<ippmedia.com>>>

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Tanzania could have had a strong economy today if it did not accept sacrifices in building the future of the region. Joaquim Chissano,

There we are, liberation movements, there we were - depending on the resources in Tanzania.
Robert Mugabe

Most importantly, it was with the moral and material support of the Tanzanian People that we managed to defeat Apartheid.
Jacob Zuma
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Old September 27th, 2012, 06:54 PM   #189
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Mining Firm Acquires U.S. $3 Billion From Banks

Dar es Salaam — Stanbic Bank Tanzania has secured syndicated financing worth $3bn (Tsh4.9tr) for Mchuchuma Iron Ore and Liganga Coal mining project in Ludewa district in the newly created region of Njombe, Southwestern Tanzania.

According to the statement from Stanbic Bank released to East African Business Week in Dar es Salaam last week, the financing is a joint effort between Stanbic bank and International Commercial Bank of China (ICBC), among the largest banks in the world.

The Stanbic bank and ICBC have joined forces so as to synchronize both banks' competitive advantage, providing necessary expertise in investments of this magnitude, the statement said. ICBC also holds 20% shares of Standard Bank, which wholly owns Stanbic Tanzania.

The funds have been secured for Tanzania China International Mineral Resources Ltd (TCMR), 80% shares of which are owned by China's Sichuan Hongda and 20% ownership by National Development Corporation (NDC).
"Stanbic Bank, ICBC and TCMR Tanzania signed an agreement to provide financing worth $3bn to develop the Mchuchuma Iron Ore and Liganga Coal mining projects," the statement said.

It added the two projects are the single largest investment venture in EA. Implementation of the Mchuchuma project, among other things, aims at improving power output in the country.

"I would like to bring to attention how huge the Mchuchuma-Liganga project is to our economy. It will have a great multiplier effect for our economy if well managed, utilized and executed guided by a focused strategy," Mr Zitto Kabwe, Shadow Minister for Finance said recently.
According to Zitto, the Mchuchuma-Liganga project will have a turnover of $1.2bn per year which is equal to 7.5% of the current GDP and he added the project will create 8,000 direct jobs.

Addressing a rally at Mawengi Ward in Ludewa after launching the 150KW power project last year, President Jakaya Kikwete said the two projects would employ 8,000 people during preliminary stages.

President Kikwete said the two projects, which are important for development of extractive industries and power generation, will change the economic outlook of the nation as a whole. The National Development Corporation (NDC) signed a joint venture agreement with China's Sichuan Hongda Group for development of the projects after a long process of search for investors.
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Old September 27th, 2012, 08:33 PM   #190
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Originally Posted by S.city View Post
Dar es Salaam — Stanbic Bank Tanzania has secured syndicated financing worth $3bn (Tsh4.9tr) for Mchuchuma Iron Ore and Liganga Coal mining project in Ludewa district in the newly created region of Njombe, Southwestern Tanzania.

According to the statement from Stanbic Bank released to East African Business Week in Dar es Salaam last week, the financing is a joint effort between Stanbic bank and International Commercial Bank of China (ICBC), among the largest banks in the world.

The Stanbic bank and ICBC have joined forces so as to synchronize both banks' competitive advantage, providing necessary expertise in investments of this magnitude, the statement said. ICBC also holds 20% shares of Standard Bank, which wholly owns Stanbic Tanzania.

The funds have been secured for Tanzania China International Mineral Resources Ltd (TCMR), 80% shares of which are owned by China's Sichuan Hongda and 20% ownership by National Development Corporation (NDC).
"Stanbic Bank, ICBC and TCMR Tanzania signed an agreement to provide financing worth $3bn to develop the Mchuchuma Iron Ore and Liganga Coal mining projects," the statement said.

It added the two projects are the single largest investment venture in EA. Implementation of the Mchuchuma project, among other things, aims at improving power output in the country.

"I would like to bring to attention how huge the Mchuchuma-Liganga project is to our economy. It will have a great multiplier effect for our economy if well managed, utilized and executed guided by a focused strategy," Mr Zitto Kabwe, Shadow Minister for Finance said recently.
According to Zitto, the Mchuchuma-Liganga project will have a turnover of $1.2bn per year which is equal to 7.5% of the current GDP and he added the project will create 8,000 direct jobs.

Addressing a rally at Mawengi Ward in Ludewa after launching the 150KW power project last year, President Jakaya Kikwete said the two projects would employ 8,000 people during preliminary stages.

President Kikwete said the two projects, which are important for development of extractive industries and power generation, will change the economic outlook of the nation as a whole. The National Development Corporation (NDC) signed a joint venture agreement with China's Sichuan Hongda Group for development of the projects after a long process of search for investors.
Great stuff
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Old October 3rd, 2012, 07:40 AM   #191
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Construction of Tanzania’s” bridge over the sea” begins

After decades of hit- and-miss, the construction of Kigamboni bridge in Tanzania has taken off. The bridge which links Dar-es salaam city with its Southern Suburb over the Indian Ocean hence its nickname “Bridge over the sea.” The bridge was conceived way back in the 1970s but was held back by financial constraints. The construction of the bridge will pave way for the development of kigamboni resort city.

http://eaers.blogspot.com/2012/10/co...idge-over.html
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Old October 3rd, 2012, 09:42 AM   #192
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Tanzania is always getting a different angle on eac matters, either they peruse things to the finer details or they conveniently sees the other side for their own interest.
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Old October 3rd, 2012, 06:21 PM   #193
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A Tanzanian engineer walks at the Songas gas processing plant in Songo Songo Island, 225 km south of the Tanzanian capital Dar es Salaam and 25 km off the coast of Tanzania January 27, 2005.
REUTERS/Emmanuel Kwitema


Tanzania Q2 GDP growth capped by mining, power drops
Wed Oct 3, 2012 2:28pm GMT
By Fumbuka Ng'wanakilala

DAR ES SALAAM (Reuters) - Tanzania's economic growth rate remained below levels targetted by the government in the second quarter, with slumps in the mining and electricity sectors offsetting a strong performance by transport and communications.

Growth slowed to 6.9 percent in the second quarter of 2012 versus a 7 percent expansion in the same period a year ago, the statistics bureau said on Wednesday.

The National Bureau of Statistics said in a report that the mining sector was a drag on economic growth, slowing to 1.2 percent from 5.6 percent following the temporary closure of a mine owned by Africa's biggest gold miner AngloGold Ashanti.

Tanzania, east Africa's second-largest economy, has said it would target average economic growth of 8-10 percent annually over the next five years to revamp the agriculture, infrastructure and industrial sectors.

However, the country's heavy reliance on hydropower coupled with frequent power shortages during dry seasons make that unlikely.

"The slow growth rate has been attributed to the temporary closure of Geita Gold Mine due to major maintenance of the plant," the state-run National Bureau of Statistics (NBS) said in its quarterly review.

Output in Africa's fourth-largest gold producer fell to 9.819 tonnes of the precious metal in the second quarter of 2012 compared to 10.405 tonnes a year ago.

Mining is the biggest foreign exchange earner in Tanzania, but the country's economy also depends on agriculture, tourism, manufacturing, financial services, transport and communications.

"The growth rate of electricity was 5.6 percent in the second quarter of 2012 compared to 10.3 percent in the similar quarter of 2011," the report said.

Tanzania, like neighbouring Uganda and Kenya, frequently suffers from blackouts, with the International Monetary Fund (IMF) warning on Tuesday the country needs to limit power outages if it wants to maintain buoyant growth this year and next.

The IMF, which re-affirmed its predictions that the Tanzanian economy will grow between 6.5 percent and 7 percent in 2012, said growth is projected to "remain buoyant" in 2013.

The statistics office said growth was particularly boosted by the transport and communication sector, which saw the fastest growth at 15.2 percent, though that was still down on the 16.6 percent recorded in the same period a year ago.

The agricultural sector grew by 5.2 percent in April-June 2012 from 5.9 percent a year earlier and the financial services sector grew by 14.1 percent compared with 10.0 percent growth in the previous year.

"The performance was attributed to an increase in levels of deposits and lending by commercial banks," the report said.

Construction activity grew at 4.3 percent in the second quarter of 2012 compared with 4.9 percent a year ago, while manufacturing grew 8.2 percent from 8.5 percent previously.

© Thomson Reuters 2012. All rights reserved. Users may download and print extracts of content from this website for their own personal and non-commercial use only. Republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters and its logo are registered trademarks or trademarks of the Thomson Reuters group of companies around the world.

Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
http://af.reuters.com/articlePrint?a...89201L20121003

Power, power, power!!! Can Kikwete hear that?
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Old October 3rd, 2012, 06:36 PM   #194
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Power, power, power!!! Can Kikwete hear that?

He cant, He is in USA right now.
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Old October 4th, 2012, 09:25 AM   #195
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Power, power, power!!! Can Kikwete hear that?

He cant, He is in USA right now.
at a prize of US$ 15 mio. i wish he is more smarter than that

Last edited by Geza Ulole; October 4th, 2012 at 09:58 PM.
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Old October 18th, 2012, 07:49 PM   #196
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I cant wait for the day when Tanzania leaves the EAC.

Kenya: Uhuru Did Wrong to Insult Annan, Mkapa
Tagged:
East AfricaExternal RelationsGovernanceInternational OrganisationsKenyaTanzania
BY PHEROZE NOWROJEE, 17 OCTOBER 2012
Comment
COLUMN

African Eminent Persons Benjamin Mkapa and Kofi Annan on their visit to Kenya last week were snubbed by the President. State House gave many convoluted reasons.

There might have been a simpler reason. Could it have been because Uhuru's campaign told State House not to see them? In addition to State House, it was only Uhuru who made comments justifying the snub. Uhuru said Annan and Mkapa were "mere tourists who had no right to meddle in Kenya's politics". (The Star, 2 October 2012).

Uhuru went on, "My focus is on Kenya, the region (East Africa) and the Continent. No Kenyan or African has said Uhuru [Note the third person reference to himself, like Napoleon] should not vie for the presidency, so the rest can stay away if they don't want to associate with us." (Daily Nation, 2 October 2012).

But though Uhuru did not notice it, being too busy choosing which insults to use, Annan and Mkapa are from Africa which he pretends to have a focus on.

Benjamin Mkapa is a past President of Tanzania. He worked closely for a long time with Mwalimu Julius Nyerere, was a highly respected Foreign Minister and has wide Pan-African experience.

Kofi Annan is from Ghana, is the immediate past UN Secretary-General as Africa's nominee, holding that post for two terms by virtue of the continent of Africa's turn in that post.

He is the recipient of the Nobel Peace Prize. Uhuru has only denigrated the implementation of African solutions to African problems. Clearly, Uhuru's 'focus' on Africa is mere words.

Uhuru also threw some stones at the US and the UK. It does not help. Rather we should all remember who had a British MI6 member in his Independence Cabinet for a long time, who abandoned Pan-African policies, who forgot the Mau Mau after 1963, who needed British troops to stay in office, and who grew up as the product of all this. Can such products care about former freedom fighters, East Africa or Africa?

It is only when the Eminent Persons attacked the Government, that Uhuru's propaganda outfit attacked the Eminent Persons. Which is that proverb that goes something like this : Kick the dog and you will soon learn who its master is. Did that come into play?

Has Uhuru's campaign now become the master of Kenya's Government in these few remaining months? If so, it explains a lot about what is going on.

If not, Uhuru had no mandate to speak on the State visitors. He is not the Foreign Minister. Yet Uhuru's advisers, the oracles of bad manners wanted to tell them off : Uhuru thus said, the past help of Annan and Mkapa does not "give them a ticket to be coming here at will whenever they have no other place to go." (The Star, 2 Oct 2012).

Bretton Woods and advisers to the State Department who naively were impressed last year, should now know better where such a Government will stand, and where it is looking for alternatives: ("friends are many" (The Star 2 October 2012 ).

To run down persons older than oneself and to insult them while they are still within our home as our guests is not African social etiquette.

Those who insult like this and justify it in the name of Africa are out of the African focus they prattle about. If this is what such individuals do when they have a little power, what will they not do when they have the highest office and power? There is no need to change generations, there is need to change manners.

After Uhuru has approved the way the President has treated President Mkapa of Tanzania, Uhuru's purported 'focus' on East Africa and the region is mere words.

It only confirms Tanzania's suspicions of Kenya's economic and political intentions of grabbing and acquisition in the East African Community.

Finally Uhuru says, "We will not allow a group of people to sit in a room and decide who will be president of Kenya." (Daily Nation 2 October 2012).

Exactly. That is exactly what the rest of Kenya is saying : We will not allow a small economic and political elite to sit in a room at State House or at a golf club in secret meetings and decide who will be the president of the rest of the Kenya again.

This small elite has shown continuously that it will never rule in the interests of all Kenyans but only in its own sectoral interests. And Uhuru is their candidate.
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Old October 18th, 2012, 07:51 PM   #197
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Kenyans here calling us as anti-EAC when their politicians are also against it. Let the EAC break up.
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Old October 19th, 2012, 02:37 PM   #198
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Go ahead nobody will miss you
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Old October 19th, 2012, 02:40 PM   #199
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Thanks for your support Adama.
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Old October 19th, 2012, 09:33 PM   #200
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Kenyans here calling us as anti-EAC when their politicians are also against it. Let the EAC break up.
don't worry there r every signs that the next year's election will turn violent considering the fact that all the IDPs r still landless and the extent at which the campaigns r playing tribal hate incitement cards! Worst enough is the ICC suspects r using every means to make sure they contest for Presidency and Kibaki seems to support them he might probably refuse to surrender them to the Hague! The international community is observing the situation keenly and is watching every undertakings before announcing its stand! I see another Ivory Coast situation in Kenya but this time for Kenya things will go far! Probably Somalia sort of! since the tribes and elites r so fed up of peace and will do anything so as not to transfer power to the people to choose peaceful! I hear machetes r selling like biscuit in Kenya right now and the demand will skyrocket soon...!

Last edited by Geza Ulole; October 19th, 2012 at 09:46 PM.
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