Tanzanian Helium Reserve twice as large as predicted
Discovered in 2016, a reservoir located under Tanzania's great rift valley was thought to contain Helium reserves of 54 billion cubic feet. After further testing, this number has almost doubled to just under 100 billion cubic feet. For decades, the world's main source of helium has been an underground reservoir in Texas; however, commercial supplies will be stopped there in 2021, whilst reserves from other nations are limited. This discovery therefore comes at a critical time and could result in Tanzania becoming a significant helium producer, with the annual bulk market currently worth USD 1.5 billion.
Tanzania Coffee Development Fund (TCDF) to halve price of coffee seedlings
TCDF has confirmed that seedlings produced by Tanzania Coffee Research Institute will be sold at half price, with small holder farmers offered the opportunity to buy up to 500 seedlings at the reduced price. It is hoped that this price reduction will ultimately result in a production increase, which will assist with generating foreign currency as well as increasing the disposable income of the approximately 2.4 million Tanzanians who rely on the coffee industry.
Kenya – Tanzania highway construction to begin in 2018
The African Development Bank (AfDB) has set aside KSh 30 billion for the construction of the Malindi – Bagamoyo highway and is looking for financial partners to bridge the remaining KSh 48.5 billion. The highway is set to run perpendicular to the Indian Ocean, passing through Mombassa and Tanga and is expected to boost trade and tourism to this section of the East African coastline. The construction of the highway is expected to commence in late 2018, with a 36 month completion window.