Month: April 2019

In a 2018 report by the World Health Organization (WHO), it was revealed that within Africa, about 15 per cent of all hospital activity and expenditure was a direct result of adverse events, and the costs of treating safety failures amount to trillions of dollars each year.

The investments needed to improve patient safety pale in comparison to the costs of harm.

Millions of patients across Africa die or are injured every year due to unsafe and poor quality healthcare. A majority of these cases could be avoidable through the implementation of digital health technology, with out-of-hospital care and monitoring forecasted to grow globally by 30 per cent to cross the $25 billion mark in 2019.

Ryan Sanderson, Exhibition Director of Africa Health Exhibition and Conferences, explains that the demands on healthcare systems in Africa are also increasing as non-communicable diseases, such as cancer, hypertension, diabetes and heart disease are …

The Bank of Tanzania (BoT) has said that in February this year the value of export of goods and services increased to Tshs.2.04 trillion ($890 million) from Tshs.1.6 trillion ($698 million) in the preceding month.

According to the BoT`s monthly economic review (MER) for March, an increase is owing to good performance recorded in export of goods particularly gold.

The review said likewise, the value of exports of goods and services increased to Tshs.19.6 trillion ($8.5 billion) in the year ending February 2019 from Tshs.19.3 trillion ($8.4 billion) in the corresponding period in 2018, owing to good performance recorded from non-traditional exports and services receipt.

It added that the value of traditional goods exports increased to 161.9 billion ($70.4 million) in February 2019 from Tshs.88.3 billion ($38.4 million) in January 2019 with cotton and tobacco recording the highest growths.

According to the review, the value of coffee and tea exports …

Bottlenecks to the completing of the planned Trans African Highway include difficult terrain and climate conditions, inadequate funding for Road maintenance and upgrades as well as insecurity due to civil conflicts that have damaged roads that now require reconstruction.

There is a new-found political will and High-level commitments by the Democratic Republic of Congo (DRC) and Uganda to develop and upgrade the Northern Corridor Road Sections  of their country of the Trans-African Highway (TAH) Network No 8 from Lagos, Nigeria to Mombasa that is expected to open the whole of Africa to interstate trade.

Uganda and DR Congo are already working to fix the gaps of the northern corridor in Mbarara-Bushenyi-Kikorongo-Mpondwe-Kasindi-Beni-Komanda-Kisangani  which measures 940Km.

Bottlenecks to the completing of the planned TAH include difficult terrain and climate conditions, inadequate funding for Road maintenance and upgrades as well as insecurity due to civil conflicts that have damaged roads that now require …

Tanzania is one of the eight African countries which are to benefit from the African Development Bank`s (AFDB) new grant projects funded by the Agriculture Fast Track Fund (AFT) in support of agribusiness Small and Medium-sized Enterprises (SMEs).

According to a statement issued on 11^th March, 2019, the pan African bank is next week expected to launch 17 new grant projects which are to be implemented in eight African countries – Tanzania (4), Ghana (4), Burkina Faso (2), Malawi (2), Mozambique (2), Ethiopia (1), Nigeria (1) and Senegal (1).

The AFT fund is managed by the agriculture and agro-industry department of the African Development Bank. It supports the development of a strong pipeline of `bankable` agriculture infrastructure projects and assists African agribusiness SMEs in project preparation activities to ease their take-off. The fund is supported by the governments of the USA (through USAID), Denmark (through DANIDA) and Sweden …

The Vodacom Tanzania CEO, Hisham Hendi and eight co-accused were on 11^th April, 2018 released after pleading guilty to the accusations against them and paying Tshs.6 billion ($2.6 million) fine.

On top of the fine paid, the court also confiscated the equipment that was involved in the alleged committed crime.

Vodacom Tanzania later on in the day released a press statement stating the company had agreed with the Director of Public Prosecutions (DPP) to amicably resolve the matter. The statement further read that in accordance with international best practice, Vodacom Group and Vodafone Group Plc have retained the highly respected global law firm, Squire Patton Boggs, to conduct an internal review into the facts underlying the charges brought by the DPP.

Hisham Hendi and six other officials of Vodacom Tanzania were on Wednesday 3^rd April arraigned before court for economic sabotage crimes. Mr. Hendi, an Egyptian was charged …

The government expects private sector to contribute 60% of the development

International property developers are angling themselves to tap into the housing projects in Kenya’s Big Four Agenda, a boost to President Uhuru Kenyatta’s ambition to deliver 500,000 units by 2022.

This came out at the sixth East Africa Property Investment Summit (EAPI) held in Nairobi this week, where the government called on the private sector to support the projects, assuring them of offtake.

An offtake assurance or agreement is a commitment between a producer and a buyer to purchase or sell portions of the producer’s future production.

“We want to assure the developers that whatever they build, we will buy,” Charles Hinga, Kenya’s Principal Secretary -State Department of Housing and Urban Development.

He spoke during the event  which saw Nairobi host some of the largest international and regional developers and financial investors such as USA’s Echostone housing, South Africa’s …

AfCFTA, when fully ratified, will cover more than 1.2 billion people with a combined GDP of USD2.5 trillion.…

The Tanzania Trade Development Authority (TanTrade) said in a statement issued on Wednesday that the country is set to participate in the first China-Africa Economic and Trade Expo to be held in Changsha, the capital of central China’s Hunan province between 18^th and 20^th June, 2019.

The body has also urged the local companies to grab the `golden chance` provided by the trade expo which will focus on trade, investment, finance, agriculture, mining, energy, tourism and infrastructure.

Officials will sign bilateral agreements during the exhibition, engage in investment promotions, and establish a “new mechanism” for future economic cooperation.

The expo is part of a slew of promises made by president Xi Jinping during last September’s Forum on China–Africa Cooperation (FOCAC) in Beijing. During his speech to African leaders, President Xi proposed eight initiatives aimed at pursuing a “win-win” strategy giving new impetus to economic, political, and security collaboration. …

The International Monetary Fund (IMF), the international economic advisory body, has cut its forecast for Tanzania’s economic growth for this year and 2020 to four percent, down from previous expectations.

Tanzania is forecast for economic growth of 4 percent in 2019 before accelerating modestly to 4.2 percent in 2020 – a drop from an estimated 6.6 percent in 2018. In January last year, the IMF said it expected Tanzania’s economy to grow between six and seven percent over the medium term, provided the country increased capital spending and improved its business environment. However, the organization has drastically cut its outlook for the country, predicting growth of four percent in 2019 and a minor increase for 2020.

The Fund also predicts Tanzania’s consumer price inflation will reach 3.5 percent this year and rise to 4.5 percent in 2020.

The IMF’s revised forecast contradicts government estimates that predict the economy will grow …

The City of Cape Town has announced a range of measures to support the local boat building industry to position it as a premier global hub for this fast-growing industry.

Cape Town is the largest boat building city in South Africa and the second largest producer of recreational catamarans globally.

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“Cape Town’s boat building industry has grown by 28.8 per cent year-on-year since 2012,” the City’s Mayoral Committee Member for Economic Opportunities and Asset Management, James Vos, said at an event this week. “The industry exports 90 per cent of the products produced and attracts a positive trade balance of around US$73 million (over R1 billion) annually.

“The 40-plus boat yards and 3,500 specialist staff produce award-winning super-yachts,” he said. “The city is home to 70 per cent of South Africa’s boat builders.”

Vos said the City was keen to support sectors such as the boat building sector …