• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    Nigeria Launches National Domestic Payments Card Program
    In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years
    $7.9 Billion in Exports glid in 2021 from the East African Community (EAC) Bloc to Africa amidst the Novel Corona Virus (COVID -19) Consequence
    President William Ruto of Kenya has Urged fellow African Rulers to address on Agribusiness beyond Production to Value Addition and Manufacturing
    Africa’s Economic Growth to Outpace Global Forecast in 2023-2024, AfDB Report
    Growers in Uganda to succeed from Nigeria’s AFEX’s Tech-Enable Products having expanding its Products Exchange Business in Nigeria’s AFEX from Kenya
    Nigeria Sets Quality Control and Assurance Laboratory for the Oil and Gas Industry

    Tanzania has begun the Refinery of one of Africa’s enormous Gold in Mwanza twitches for Global Criteria

    Posted On 13 May 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 8

    By Abdul Rahman Bangura–

    Photo Credit: You Tube

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- Gold biggest foreign exchange revenue, it could no longer export raw gold. The refinery can process up to 480kg of gold per day. Professor Florens Luoga – Bank Governor of Tanzania has applauded the State Mining Corporation (Stamico) for permitting Tanzania to commence sifting gold to international criteria.

    Professor Luoga exhorted the refinery to develop an accreditation certificate to permit the Bank to start purchasing refined gold as part of its foreign budgets.

    “Given the production capacity of this plant, I believe that it will be able to refine all locally mined gold as well as those from neighboring countries. The final product will bear the originality mark from Tanzania, and hence promote Tanzania overseas,” the Governor said.

    Tanzania’s gold shipment hit the $3 billion record for the first time as the price of the valuable metal improved in the world market. According to the Bank of Tanzania, the cost of the exports gold to $3.025 billion in the year ending March 31st, 2021 correlated with $2.324 billion listed recently.

    Gold began enticing greater prices in 2020 pursuing the outbreak of the Novel Coronavirus (Covid-19) that disrupted financial activities and needs around the world. As monetary markets were pummel by the pandemic, investors scrambled for gold which they deem as one of the safe-haven investments.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    The Kenya National Chamber of Commerce and Industry (KNCCI) has dared Agriculturalist to deliver their goods Specification for export of one-40 Feet Container (with 20 pellets) to Egypt

    Next Story

    Kenya Digitizes Cargo Clearance at Border Points to Enhance Efficiency

    8 Comments

    1. Lindy May 13, 2021 at 3:32 am Reply

      Thank you, Bangura for this report. Industrialization is here. Serowe in Botswana. Lindy

      • New Africa Business News, Staff Correspondent May 13, 2021 at 3:40 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Roka May 13, 2021 at 3:35 am Reply

      Gold ladies best friend is Africa. Good investment. Luanda ANGOLA. Roka

      • New Africa Business News, Staff Correspondent May 13, 2021 at 3:40 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Frank May 13, 2021 at 3:36 am Reply

      I love African gold, They are the best. Oslo in Norway. Frank

      • New Africa Business News, Staff Correspondent May 13, 2021 at 3:40 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Samuel May 13, 2021 at 3:38 am Reply

      Thank you for signing me to your newsletter program. Samuel in Lagos, Nigeria

      • New Africa Business News, Staff Correspondent May 13, 2021 at 3:39 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    Posted On 06 Feb 2023

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Posted On 03 Feb 2023

    Nigeria Launches National Domestic Payments Card Program

    Posted On 02 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    New Africa Business News Award Medalist of Excellence as Africa's President of the Year 2020-2021 meets the Heads of his Ancestors on March 17th, 2021 Samia Suluhu Hassan divulged

    Posted On 20 Mar 2021

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 21 Jan 2023

    Facebook

    Latest Posts

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

    Nigeria Launches National Domestic Payments Card Program

    Recent Posts

    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States
    • $30 Billion has been pledged by the African Development Bank and Development Partners to Finance Food and Farming in the Next Five Years

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.