- The Far Property company to list more linked units on BSE
- Building Kenya’s tourism competitiveness in Africa
- Uganda Securities Exchange creates new window for SMEs’ capital mobilisation
- Indian Ocean safety stamp to boost Kenya imports savings
- Nigeria’s capital market positive US dollar returns in September
- South Africa’s manufacturing grew 2.9% in September
- Costs of farm inputs still a headache for Africa
- Beekeeping in Tanzania, adopting modern agriculture technologies
- Is it too late for East Africa to enjoy an oil economy?
- Critics cite the global shift to a green economy as the basis not to invest in fossil fuels
- Enormous multifaceted investment options along oil pipelines are driving the development
Tanzania and Uganda are gearing up to become the region’s oil economies with the latter signing a mega oil pipeline deal to transport Uganda’s oil to its port of Dar es Salaam.
The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest growing economy compared to other regions on the continent.
As of 2016, the EAC bloc registered an impressive growth rate of 5.5% which was at the time projected to increase to 6.0% in 2017 and 6.3% in 2018 respectively.
Read: How the EAC is promoting …
Since the advancement of the standard of living, most parts of the world have experienced a relatively rapid population growth than ever before which can be hugely beneficial for economic development if utilized strategically.
Population growth is rapidly occurring in Africa, with Tanzania now hosting more than 59 million people in its vast, arable and mineral-rich land. This increase puts the East African country, which ascended last year to a low-middle-income status, in a much more advantageous position to move forward or experience a decline.
The World Bank (WB) – one of Africa’s ...
Tanzania Telecom charges:
Tanzanians are forced to reach deeper into their pockets as the government has increased the cost of performing mobile money transfers. Effective July of this year, Tanzania’s have seen the cost to send or withdraw money shoot up to the roof.
The government, through parliament past a bill to hike the charges arguing the extra tax is needed for national development projects. The government amended the Electronic and Postal Communication Act (CAP 306) a move that allowed it to impose a levy of on mobile money transactions depending on the amount sent and withdrawn.
Tanzania’s President John Magufuli has ordered the country’s Ministry of Minerals to allocate land to iron and other metal smelters; and to lure investors quickly, the president said the land allocation may even be done at ‘no direct charge’ to the investor.
The President issued the order at a swearing in ceremony for the ministry’s new deputy minister, on Friday 11.12.20. President Magufuli was emphatic over the sector’s potential to contribute to national development. He specifically named a few areas that have already been identified to have ‘millions of tonnes of iron deposits.
“We have so much iron deposit, if the smelters ate willing to melt stolen rails they are willing to smelt iron ores,” he said.
“Give investors areas to mine iron and other metals and minerals,” he went on to say and even pointed out that “…even right here at the capital, we have iron deposits.”
With that, …
Amid strong demand for automotive vehicles, several domestic and foreign manufacturers are planning to expand their production bases in Tanzania. Government of Tanzania also prioritizes the automotive segment as a key revenue generator and is encouraging flow of FDIs in automotive industry – Tanzania Automotive Market, Size, Share, Outlook and Growth Opportunities 2020-2026 (Report)
Tanzania is one of the most promising and fastest growing automobile markets in the region. Tanzania automobile industry is supported by multiple factors such as labour availability, R&D efforts, geographic advantage and government support.
With positive outlook for economy and greater household purchasing power, the automobile sales in the country are set to witness strong surge in sales.
Meet Mr. Edwin Mac Temba the CEO of Mac Auto Express Garage in Dar es Salaam. He gives The Exchange an exclusive breakdown of how the subsector is performing, how it survived during the corona virus outbreak and …