Month: November 2019

Tanzanian President John Magufuli, has received $455.8 million (Tsh1.05 Trillion) as the governments dividend and revenue share from 79 entities that the government holds stake in.

According to the president, Tanzania’s government has invested over $25 billion in 266 entities in Tanzania.

The divided and revenue share handing was executed in the capital city-Dodoma witnessed by various several-top government officials and private sector influential actors including, the Ministry of Finance and Planning and financial institutions chiefs.

The government’s dividend and revenue shares offered which rose from over $293 million in the 2016/2017 financial year, $365.5 million in  2017/2018 to over $455.8 million in the  2018/2019 financial year and sadly, the contribution has been dominated by a fraction of entities, as 187 out of 266 entities supposed to hand their contributions did not execute their fair contribution, due to operating under loss.

The top three contributors were Tanzania Ports Authority with …

International Finance Corporation (IFC), a member of the World Bank Group, announced that it will co-host the AFRICA CEO FORUM 2020.

IFC’s support for the event shows its increasing commitment to help Africa’s governments, businesses, and entrepreneurs overcome challenges, increase trade, create jobs and drive innovation.

The Africa CEO Forum will be held on March 9 to 10 next year in Abidjan, Côte d’Ivoire.

It is the leading international conference dedicated to supporting private sector-led growth on the continent.

The upcoming 8th edition of the AFRICA CEO FORUM will focus on regional integration, the impact of technological advances, infrastructure development and jobs.

It will also cover other areas relevant to unlocking the continent’s economic potential and helping improve lives.

IFC which has co-hosted the FORUM since 2018, is at the centre of discussions on these and other development topics which will help drive economic transformation in the …

Egypt is Germany’s third-largest trade partner in the Middle East, with a trade exchange worth $3.6 billion.

According to a report by the Ministry of Trade and Industry, trade between the two countries increased by $43 million during the first nine months of 2019 to $3.622 billion, compared to about $3.579 billion recorded during the same period in 2018.

In 2017, the trade exchange between Egypt and Germany reached its highest level at 5.8 billion euros.

Germany’s total investment in Egypt currently stands at about $7.4 billion across various fields, including construction, industry, tourism, the service sector, agriculture, and information and technology.

In German investment guarantees, Egypt also ranks among the top ten recipients with 18 guarantees worth 1.4 billion euros.

During Mostafa Madbouly, Egyp’st Prime Minister visit to Germany last June, he signed a memorandum of understanding with Bosch to build a factory in an area of 120,000 square …

Mastercard Foundation plans to help Ethiopia government create over 10 million jobs for the young generation over the coming ten years.

This follows the Mastercard Foundation launch of Young Africa Works in Ethiopia a $300 million initiative which aims at creating employment opportunities for the youth in partnership with Ethiopia’s Jobs Creation Commission (JCC).

The Young Africa Works in Ethiopia is aligned with the Ethiopian government’s plan to create new jobs to spur economic growth. The initiative was designed in partnership with the government, the private sector, academic institutions and young people.

Mastercard Foundation will work with JCC to create programs to speed up growth in the tourism, agriculture, manufacturing, and ICT sectors. The programs will support small and medium-sized businesses and entrepreneurs in achieving greater productivity and expand income-generating opportunities.

“Ethiopia’s prosperity will be achieved when we individually achieve our full potential first. Creating jobs for all, particularly, youth …

Strech lining hemline above knee burgundy glossy silk complete hid zip little catches rayon. Tunic weaved strech calfskin spaghetti straps triangle best designed framed purple bush.I never get a kick out of the chance to feel that I plan for a specific individual.

Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradisematic country, in which roasted parts of sentences fly into your mouth.

A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart. Even the all-powerful Pointing has no control about the blind texts it is an almost unorthographic life One day however a small line of blind text by the name of Lorem Ipsum decided to leave for the …

Dropcap the popularization of the “ideal measure” has led to advice such as “Increase font size for large screens and reduce font size for small screens.” While a good measure does improve the reading experience, it’s only one rule for good typography. Another rule is to maintain a comfortable font size.

Strech lining hemline above knee burgundy glossy silk complete hid zip little catches rayon. Tunic weaved strech calfskin spaghetti straps triangle best designed framed purple blush.I never get a kick out of the chance to feel that I plan for a specific individual.

Separated they live in Bookmarksgrove right at the coast of the Semantics, a large language ocean. A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradisematic country, in which roasted parts of sentences fly into your mouth.

A wonderful serenity has taken possession…

A high-level meeting of policymakers, regulators and industry experts in the field of pharmaceuticals and trade has discussed a bold path towards affordable pharmaceuticals through leveraging the African Continental Free Trade Area.  The Continent is home to 11% of the world’s population yet it carries 25% of the world’s burden of disease.

If implemented, pooling procurement of essential drugs and products and expanding local pharmaceutical production on the continent is seen as a critical pathway to the prosperity of African citizens, thereby achieving universal healthcare in Africa.

Executive Secretary of the Economic Commission for Africa Vera Songwe told the meeting that 50 % of all children who die before the age of 5 in the world are in Africa. “We cannot build a prosperous Africa if we have such a high mortality rate. The pharma initiative seeks to reduce costs and increase healthcare access.”

“The tragedy is that these diseases …

French business delegation of more than 25 companies will visit Uganda to explore business opportunities, invest in Uganda and create partnerships for trade.

According to a statement given by the French embassy in Uganda, the delegation will be in the country from 25th to 26th November 2019.

The business delegation is an initiative of MEDEF International – the French business confederation with 170,000 member companies and ten million employees.

The initiative is supported by the Ugandan embassy in Paris, the French embassy in Kampala and Ugandan authorities.

The business delegation will be led by Momar Nguer, Chairman of the Africa Committee of MEDEF International and President Marketing and Services and member of the Executive Committee of Total.

According to the statement from the embassy, the delegation will mainly discuss major opportunities and challenges affecting the country.

“The French companies are eager to develop their activities, partnerships, and investments in Uganda,” …

East Africa(EA) business community will address issues on harmonising airspace among others during the East African Business and Investment summit taking place in Arusha, Tanzania from 28 to 29 November.

Denis Karera, the Vice Chairman of the Council said that the summit seeks to address the most pressing issues challenging business in the region, especially cross border trade.

“Non-tariff barriers impede cross border trade. One of the key things we want to raise, again, is the domestication of airspace so that our airlines can move easily and quickly and tickets can become cheaper as well,” he said as he addressed the press.

He added that flight ticket prices are driven by none harmonized and heavy duties imposed on airlines landing at different African airports. He said that flight tickets are expensive because all the east African countries charge taxes among other handling services for every landing.

Also Read: EAC

A group of South African business people representing 35 companies is expected to travel to Mozambique in search of investment and trade opportunities, the trade and industry department said.

The group will be participating in an Outward Trade and Investment Mission to Pemba and Maputo organised by the trade and industry department from 24 – 29 November

The trip’s objective is to increase bilateral trade and investment between South Africa and Mozambique by exposing South African companies to available opportunities in Mozambique. Nomalungelo Gina Trade and Industry Deputy Minister will lead the mission.

According to the department, the specific focus of the mission will be on designated industrial and infrastructure projects as stated in the memorandum of understanding (MoU) on economic cooperation between the two countries.

Keitumetse Moumakoe, the executive director of the Steel Tube Export Association of South Africa, said his main objective for travelling to Mozambique is to …