- Tullow Oil to invest US$10 million in Kenya’s oil field development
- Harnessing 4IR to propel Africa’s economy to address unemployment
- Kenya ranked 13 on list of countries with good governance in Africa
- Mozambique: Central Bank maintains monetary policy interest rate
- Artificial Intelligence in Africa – Leveling the narrative
- Boost for US-Africa relations as US Treasury Secretary visits Senegal, Zambia
- How Kenyan workers were exploited to build ChatGTP
- Africa Agri Expo attracts 100 investors, $25Mn expected in deals
Author: Padili Mikomangwa
Padili Mikomangwa is an environmentalist based in Tanzania. . He is passionate about helping communities be aware of critical issues cutting across, environmental economics and natural resources management. He holds a bachelors degree in Geography and Environmental Studies from University of Dar es Salaam, Tanzania.
In the modern world, affordable housing is becoming a complex issue for many people, especially in Africa. Across the region, rapid urbanization, which has boomed over the past decade, has made affordable, decent housing challenging precipitating the emergence of informal settlements. In the case of Tanzania, Dar es Salaam, the commercial pulse of Tanzania, is struggling to develop cities that bring inclusive growth and job opportunities for people, the Kigamboni City Project tried by failed.. A December 2015 publication by the World Bank argued that Africa could have as many as 1.2 billion urban dwellers by 2050 and 4.5 million…
Africa is huge continent with untapped potential. With the rest of the world opening up for the best international trade and travel relations, Africa is learning and following the same path, with countries such as Uganda, Kenya and Rwanda easing entry restrictions by issuing visa on arrival and hence turning themselves towards open borders opportunities as members of the East African Community (EAC). Unrestricted movement of people and goods between African countries holds the key to unlocking this trade potential. That is why trade analysts are touting the African Continent Free Trade Area (AfCTA) as a game changer in inter-Africa…
The tripling of investment in 2022 is a statement to the world that the East African nation is open for business. The success is a straightforward strategic plan from President Samia’s administration since she assumed office in March 2021. Tanzania Investment Centre (TIC) records show that the year 2022 has made the statement ‘Invest in Tanzania’ hold water. Over the past months, several activities have echoed across multiple fields, including manufacturing, transportation and tourism. TIC records show that from July to November 2022 there was an increase of 22.2 percent in investment projects (132 registered projects) compared to 102 projects…
Green hydrogen is defined as hydrogen produced by splitting water into hydrogen and oxygen using renewable electricity. Green hydrogen is the future for Africa, especially in the wake of transitioning from old ways of energy production to modern systems featuring clean, renewable energies. The conversation on clean and renewable energy has become interesting over the years as technology and finance in the sector grows. Africa has the potential to produce $1.06 trillion worth of Green hydrogen energy, according to a European Investment Bank report dubbed ‘Africa’s Extraordinary Green Hydrogen Potential’. Global demand for hydrogen is projected to rise seven fold…
It is important to outline how the DRC stands to become a crucial investment hub in Africa. Foreign and domestic private entities reserve the right to establish business ventures across the nation and engage in all forms of remunerative operations, this is according to the US State Department as it outlines its engagement strategy with the country.
The DRC’s investment agency—the National Agency for Investment Promotion (ANAPI) provides essential facilitation services for initial investments over US$200,000 and is responsible for simplifying the investment process, make procedures more transparent, assist new foreign investors and improve the business image of the DRC—as the investment destination.
The DRC has potential sectors that are essential for investment and boosting the nation’s economic landscape for the betterment of the region. The sectors do not only create enough revenue to expand the welfare of the population, but create sustainable systems that creates millions of job opportunities.
Agriculture, banking, energy, housing, tourism, insurance, housing and real estate, forestry, transport and infrastructure. With an array of investment opportunities, it is important to notice how vast profits go when it comes to mutual benefits in all sectors.
COP27 outcomes were far and few for Africa, yet the UN announced an Executive Action Plan for the Early Warning for All initiative, which calls for initial new targeted investments of US$3.1 billion between 2023 and 2027, which is equivalent to a cost of just 50 cents per person per year.
This warning system comes to address crucial issues of extreme weather conditions such as disaster risk knowledge, observations and forecasting, preparedness and response, and communication of early warnings.
A couple of the notable outcomes for Africa included the continent’s rainforest giant, the Democratic Republic of Congo (DRC) collaboration with Brazil and Indonesia, to launch a partnership to cooperate on forest preservation after a decade of on-off talks on a trilateral alliance.
Tanzania is now executing several energy projects, including the East African Crude Pipe Line Project (EACOP), which brought several international attention fighting its realization.
The widely followed meeting is occurring in the continent for the fifth time and attracting thousands of participants engaging in serious conversations that might lead to the realization of climate targets.
The 27th meeting of parties calls for moving from negotiations (which occurred in COP26) and “planning for implementation” for all these promises and pledges made (United Nations -UN).
As Samia presents the ambitious deal on behalf of a dozen southern African nations – the pressure lies upon the developed economies to jump in and support the common cause.
Debts are quite effective economic tools when used correctly. However, debts have been seen to hold people and nations accountable over time and space and sometimes push developing countries to the edge of economic crisis. In the case of Africa, debt has evolved to become a phenomenon that nations such as South Africa, Sudan, Tanzania and Zambia battle with every inch of their economic prowess. The African Report argued that the number of African countries at risk of debt distress has doubled since the COVID-19 pandemic, but only three of them have opted for debt restructuring. South Africa has been…
It is important to take a clear view of the past to understand the complexities of the future. In this case, the trade relations issues of the past between Kenya and Tanzania showcase how these nations have much work to do.
In June 2022, Kenya pointed out that its trading partner—Tanzania doubled the cost of export permits by almost 93 per cent, which could spark another set of disputes with the Kenyan government.
This scenario impacted trucks transiting into Kenya with precious and expensive cargo—amid the new requirement demand. Hundreds of trucks were left stranded at the border.
In 2020, Tanzania brought another set of issues, arguing that its trade partner Kenya used zero-rated industrial sugar imports to produce various products. Hence, concerning this, Tanzania imposed a 25 per cent import duty on Kenyan confectionery, including chocolate, chewing gums, sweets, ice cream and juice.
Both nations have the right to attain energy supremacy as it has been a long-time ambition. Despite that goal, environmental and climate-related concerns must be addressed if they are present.
The EACOP is one starting point that can catapult the region towards economic mastery and energy sufficiency. Tanzania, which is also banking on natural gas exploration and production, could learn a lot from EACOP complications now.
Despite the challenges, EACOP’s potential has managed to draw the attention of other financiers, and things are turning out well. The project has attracted US$300 million from alternative lenders as its proponents rush to save the project from pressure groups citing environmental concerns, according to a report by The Citizen.