To cement trade ties, boost investment flows and encourage tourism between Tanzania and China, Standard Bank and the Industrial Commercial Bank of China (ICBC) have launched the I Go Tanzania loyalty program in partnership with Tanzania Tourism Board.

This initiative, part of ICBC’s I Go Global rewards scheme for its card holders in China, was unveiled in Tanzania on 6th August 2019. It will capitalize on the growing appetite among Chinese travelers to visit Tanzania by offering a range of discounts and special offers from merchants across the travel, hospitality and lifestyle sectors, says Standard Bank’s group head of card and emerging payments across Africa in personal and business banking, Lincoln Mali.

“ICBC is the biggest bank in the world, with approximately 139 million credit cards and as many debit card customers,” says Mali, explaining the rationale behind the new loyalty program, which was designed by Standard Bank in partnership …

Tanzania has the potential to enhance revenue collection and optimise public expenditure, leading to improved human capital outcomes, inclusive economic growth, and greater prosperity. 

The World Bank’s 19th Tanzania Economic Update, “Enhancing the Efficiency and Effectiveness of Fiscal Policy in Tanzania,” highlights key findings and recommendations for strengthening fiscal policies in the country. …

• Hundreds of delegates are meeting at the 5th Tanzania Energy Congress to build up possible pathways to realise the country’s energy ambition.
• Tanzania has abundant natural energy resources such as natural gas, wind, solar, which are largely untapped.
• Jared Kuehl, Vice President Shell, Tanzania says the congress is an opportunity for the nation to market its potential to the world.

Tanzania’s growing presence in the oil and gas sector was on full display as the 5th Tanzania Energy Congress brought together industry giants, political leaders, and experts.

The event, which is set to end on 21st September, aims to chart the course for Tanzania’s energy future.

With 900 delegates, 100 exhibiting companies, and 90 government and industry experts in attendance, the congress became a hub for discussions on realizing Tanzania’s sustainable energy goals.

Read Also: Tanzania and Oman: Pioneering a Sustainable Energy Future

Regulatory environment for investments

Oil and gas …

• South Africa is leading a global coalition seeking continuation of the US President’s Emergency Plan for AIDS Relief (PEPFAR).
• PEPFAR started in 2003 during former President George W. Bush’s administration. It was last reauthorised in 2018 and is set to expire on September 30.
• Some US House Republicans argue that PEPFAR funds are financing abortion plans overseas.

If the AIDS epidemic will finally end by 2030, the United States’ President’s Emergency Plan for AIDS Relief (PEPFAR), the largest and most successful commitment by any nation to address a single disease in history, must get greenlight to continue empowering local partners in Africa, particularly South Africa as the global epicenter of HIV.

This was the consensus among top opinion leaders, civil society groups, and politicians from different continents at a meeting hosted by BroadReach Group at the National Press Club in Washington, D.C.

PEPFAR’s achievements over the past 20 years

While …

Sendwave, a digital remittance service, is banking on better forex rates and a cut in the cost of sending money from the diaspora to attract customers, heightening the competition for users in the segment. In a new offering, Sendwave Pay, the company says customers will get access to up to a 0.4 percent improvement on exchange rates. They will also enjoy up to 25 percent savings on transaction fees on remittances to Kenya, Ghana, Tanzania, Uganda, Nigeria, and Liberia when using the funds in their accounts.…

• Nigeria is keen on collaborating with Cuba in the domains of poultry, livestock, and fisheries production. 
• Cuba and Nigeria will equally leverage cutting-edge technologies to increase yields, and reduce post-harvest losses.
• The deal also encompass undertakings in veterinary medicine, vaccine development, AI, and the development of pastures and ranching.

Africa’s economic powerhouse Nigeria has cemented ties with Cuba to enhance agricultural production in one of the continent’s most populous countries. Nigeria has vast land resources, offering the nation of over 200 million people immense agricultural potential yet it remains a net importer of rice, sugar, wheat flour, fish, milk.

Nigeria’s Minister of Agriculture and Food Security Abubakar Kyari, signed the deal with Cuba during the G77+ China Leaders’ Summit in Havana.

Senator Kyari lauded Cuban government for partnering with Nigeria, noting that the South American country can offer Nigeria significant boost in agricultural production.

Nigeria food production

In Nigeria, President …

In a recent announcement during the US-Africa Business Roundtable in the United States, Kenya’s President William Ruto revealed that Safaricom, a leading telecommunications company, is establishing a strategic partnership with Apple Inc. The Safaricom-Apple partnership will integrate the widely-used mobile money platform, M-Pesa, with Apple’s ecosystem. This integration will expand M-Pesa’s mobile financial services globally.
President William Ruto announced the deal after he toured Silicon Valley in San Francisco Bay, United States, on 16 September. The Kenyan leader is fast gaining popularity across Africa and globally. He has led from the front in marketing Kenya as a conducive ground for foreign business to thrive.…

• Africa’s vast natural gas and oil reserves present significant untapped potential for economic growth.
• However, the continent faces challenges in fully harnessing its energy resources and transitioning to cleaner sources.
• The upcoming Tanzania Energy Congress serves as a critical platform for discussions and collaborations shaping the region’s energy future.

Energy in Africa presents both untapped potential and significant challenges hindering growth. The continent possesses vast natural gas and oil reserves, offering opportunities for economic advancement.

However, the current energy mix relies heavily on fossil fuels, demanding substantial investments in capital and technology, which Africa requires urgently.

Despite its resource wealth, Africa has struggled to fully harness its oil and gas potential, especially in the face of global shifts towards cleaner energy sources. Partnerships within the industry have historically fallen short, but lessons from past agreements can guide more productive collaborations.

Africa has the potential to emulate successful partnerships, such as …

• Starlink, SpaceX’s satellite internet service, has shown strong performance in Nigeria and Rwanda during the second quarter of 2023.
• In Nigeria, Starlink outperformed traditional fixed broadband providers, delivering a median download speed of 63.69Mbps.
• Starlink’s internet speeds were substantially faster than the combined median speed of all fixed broadband providers in Nigeria at 15.60Mbps.

Starlink, SpaceX’s satellite internet service, has shown strong results in Nigeria and Rwanda during the second quarter of 2023, in the fast-changing landscape of internet connectivity in Africa.

According to Speedtest Intelligence data, Starlink has outperformed traditional fixed broadband providers in terms of download speeds in Nigeria, while making notable strides in Rwanda despite some latency challenges.

Starlink in Nigeria

Starlink made its debut on the African continent in Nigeria in January 2023 and has already begun to make its presence felt. The Speedtest Intelligence data for the second quarter of 2023 revealed that Starlink users …

• The World Bank says Countries in Sub-Saharan Africa are showing strength in social policies on inclusion and structural reforms, but economic woes and wars are slowing progress.
• In terms of regional disparities, 2022 witnessed a widening gap between Western and Central Africa and Eastern and Southern Africa.
• These findings are contained in the World Bank’s Country Policy and Institutional Assessment (CPIA) latest report. 

Economies in Africa are making significant steps in structural economic reforms as well as social policies on inclusion, but wars and persistent economic woes threaten to wipe out the gains.

Last year, a survey by the World Bank on poor countries shows that countries in Sub-Saharan Africa made considerable progress in institution both economic and social protection measures.

The World Bank’s Country Policy and Institutional Assessment (CPIA) is as an annual tool designed for countries eligible for financial support from the International Development Association (IDA), an …