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As the world grapples with the impact of the global recession caused by the Covid 19 pandemic, the impact of the Russia – Ukraine war, the effects of climate change, and other challenges, terrorists and violent extremists, including Da’esh, Al-Qaida, and their affiliates, continue to intensify their activities on the African continent aggravating an already difficult situation.
The response has been, by and large, heavy on the military. Still, countries are increasingly focusing on prevention with a particular focus on addressing the root causes, such as poverty reduction, strengthening institutional capacity to respond to the needs of their populations, and local reconciliation. One issue, in particular, has captured the attention of many experts working to address the root causes of radicalization, which is impunity. Indeed, the root cause of radicalization, cyclical violence, and the war was a culture of impunity.
The New Tanzania Investment Act 2022 has now become law replacing the Tanzania Investment Act Cap 38 RE 2015 and its amendments. While there was an expectation for major changes, the reality is that the new Act is more or less the same as the previous minus a few differences outlined below:
1. The Act is in the Kiswahili language and there is no translation of the same in English.
2. Removal of the automatic immigration quota of 5 work and residence permits for expatriates workers. While previously an investor registered at the TIC would be allowed up to 5 immigration permits and this was typically used for investors’ strategic employees, this incentive is removed which means there is no guarantee for the investor to obtain immigration permits for its strategic employees who will be treated like every other applicant.
3. Local Investors ie Tanzania nationals or companies
By Håvar Bauck
Recently, a business contact of mine was planning a three-day stopover in Nairobi on his way to Tanzania.
Unfortunately, because of delays in the visa process, he ended up cancelling the Nairobi visit and instead extended his stay in Tanzania. Those three days could easily have brought Kenya US$1,000 in foreign currency spent on hotels, restaurants, taxis, tourist attractions, and shopping. Instead, that revenue went to Tanzania.
While this example is not unique, the underlying problem can easily be addressed. This represents one of the simplest opportunities for the new Ruto administration to boost tourism.
Until 2021, people could choose between applying online in advance and getting their visa on arrival. Those who planned their trip well ahead could choose the convenience of the much faster e-visa counter, while those making last-minute travel decisions would still enter the …
This article has been prompted by a headline that appeared in one of the dailies a while back about intermediaries’ billions owed to the Kenyan insurance sector by insurance agencies, brokers and others.
While this matter is grave and cannot be taken lightly, noting that it is people’s financial ruin we are talking about, the erroneous message cannot go unchallenged and a right assuaged where need be. The article did not correctly say who owes the money. For perspective, we have three types of insurance intermediaries in this country: brokers, insurance agents and now the banks.
The over ten thousand licensed insurance agents in Kenya mainly practice insurance under a cash-and-carry basis meaning they do not get insurance coverage till they pay cash for them.
Insurance brokers in Kenya, as well as insurance agencies, can negotiate terms requiring insurance coverage …
At the just concluded 7th Uganda Oil and Gas Summit, where investments in fossil fuels projects was discussed, the Managing Director of East African Crude Oil Pipeline Limited (EACOP) renewed commitments and assurances that the crude oil export pipeline project is compliant with international human rights, environmental and social requirements standards even as EACOP legal shareholding faces a challenge in Europe.
Europe is now focusing on green and climate friendly projects, pushing many countries to shift without offering viable alternatives.
As if it was not clear, the EACOP for now is forging ahead, with or without the “approval” of the European Union and its institutions, namely the EU Parliament. The crude oil export pipeline is one of the major projects in East Africa in recent times.
On September 14, 2022, the EU Parliament issued a Joint Motion for a Resolution …
By: Ambassador Omar Arouna, MBA
On August 30th in a speech before the Business community at the MEDEF annual gathering in France, and in the presence of President Emmanuel Macron, Patrice Talon declared, “democracy can lead to anarchy and paralyze government decisions… and I don’t intend to implement it fully”.
The latest declaration by Benin president should be taken seriously because back home, he has already started manoeuvring to change the country’s laws enabling him to remain indefinitely in power.
In January 2023, Benin is once again holding a legislative election. The fourth election since Talon became president. The last three elections left (using the words of late Nigerian artist Fela Kuti) “tears, sorrow and blood” in Benin.
The opposition was excluded, the army shot protesters in the post-electoral uprise, and according to Amnesty, at least 5 people were …
By NJ Ayuk
In the months since the European Union declared it would reduce its reliance on Russian oil following that country’s invasion of Ukraine, there’s been a lot of talk about the new opportunities this moment is creating for Africa’s natural gas industry.
I myself have been part of that conversation, and I stand by my past statements.
Africa’s capabilities are considerable, as the African Energy Chamber (AEC) makes clear in our State of African Energy Q2 2022 Report.
What’s more, certain developments within Europe are putting African natural gas producers in a stronger position than they have been in before with respect to being able to fight for— and win — a larger market share. Quite simply, there are gaps in the European gas market that weren’t there in the past — gaps that urgently need to be filled. Those gaps mean there’s more room for African gas
By Ope Babalola
Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis. The digital transformation of African customs and borders could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year.
With digital trade in place, pre-existing bottlenecks in infrastructure can be tackled, efficiencies can be leveraged, and innovative solutions can be harnessed. However, countries in Africa vary greatly in their readiness for digital trade.
In African countries where economic resilience must be fostered, jobs must be created and, entrepreneurship skills must be facilitated, digital trade must be in full swing.
How digital automation is easing the flow of trade
Thanks to technological advances, importing and exporting goods and services in Nigeria has become easier thanks to the rise of online international trade administration portals. These online portals automate the experience for many stakeholders, including customs
- Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis
- The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year
- Single Window can cross-check credentials for consistency and traceability, reducing errors and fraud
The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year.
Digitalization brings new opportunities in trade and creates the potential to underpin resilience in times of crisis.
The digital transformation of customs and borders in Africa could improve efficiencies in processes and yield trade gains on the continent of US$20 billion a year. With digital trade in place, pre-existing bottlenecks in infrastructure can be tackled, efficiencies can be leveraged, and Innovative solutions can be harnessed. However, countries in …
The Tanzania Finance Act 2022 was assented on June 30, 2022, and has been effective since July 1, 2022.
The Finance Act 2022 has been received with the sentiment that more could have been done to improve the business and investment environment namely undoing the many damaging laws that exist which make doing business in Tanzania perceived as highly risky by investors.
I will focus on the six areas of the law and attempt to analyse what the law means and its impact.
Entrepreneurship, Start-ups and SMEs
Firstly, I am a strong believer that poverty alleviation will be accomplished not by large foreign investors and multinational companies coming to invest in Africa, but by empowering the smaller companies and entrepreneurs who exist in millions and make up the largest proportion of the private sector in Tanzania. According to the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), 95% of …