Author: Aly Ramji

Standard Chartered Tanzania has been named the Best Consumer Digital Bank in Tanzania, 2019 by the financial journal, Global Finance. In addition to the award, the Bank has also been recognised for its information security and fraud management systems, under its digital offerings. Commenting on the award, Standard Chartered Bank Tanzania CEO Sanjay Rughani reflected on how the award reaffirms the Bank’s commitment to its digital agenda and how the Bank is leading the way in developing digital solutions that are aligned with country’s financial inclusion agenda. He added, “Our Digital Bank on Mobile solution is a demonstration of how…

Every plastic bag, paying little heed to thickness, will be restricted from being imported, sent out, made, sold, put away, or provided for use in Tanzania. Visitors to East Africa’s most populous nation, nearly 57 million, have been told to expel plastic bags from their baggage before traveling. WWF Nation Executive Dr. Amani Ngusaru has complimented the administration for venturing up the battle against plastic contamination in the nation. He said WWF Tanzania is inspired with the Tanzania government’s choice to boycott the utilization of plastic bags. “Plastic is a number one polluter of environment and a silent killer of…

The International Fund for Agricultural Development (IFAD) has set aside Ths.127.3 billion ($55.3 million) for funding agriculture projects in the country for three years beginning January 2020. A State House statement said that IFAD president Gilbert Fossoun Houngbo revealed this on 20th May 2019 when he held talks with President John Magufuli. Houngbo who was in the country for a three-day official visit hailed president Magufuli`s government for the strong efforts in implementing various development projects including those funded by IFAD. He said after setting aside the funds, IFAD is now waiting for the Tanzanian government to indicate key areas…

Towards the June 1st deadline for the use of plastic bags in the country, the government is in talks with 15 industries that manufacture alternative bags to increase production. The Minister for Industry and Trade, Joseph Kakunda said in his 2019/2020 ministerial estimates speech that the government welcomes new investors to help raise available alternative shopping and wrapping material. Environment friendly bags can be made from easily available raw materials like cotton and sisal, among others, in like manner as baskets and straw bags of various sorts. Mufindi Paper Mills is one among industries instructed to produce substantial amounts of…

The country`s coffee production is projected to dwindle by 23 per cent in the 2019-2020 season. Africa`s fourth biggest coffee producer, Tanzania said the overall production in coffee would drop by 23 per cent in the next period due to delayed rainfall in the Northern regions, according to the Tanzania Coffee Board. The crop for the season that starts in July may decline to 50,000 tonnes, the Tanzania Coffee Board stated on Monday 13th May, 2019 in a statement. It said last month that the country had experienced dryness in many growing areas, and that farmers would start collecting crops…

The European Union (EU) has reiterated its commitment to continue supporting the government towards achieving its industrialization strategy and middle income status by 2025. The European Union Charge d`Affaires to Tanzania, Charles Stuart made the remarks on Thursday in Dar es Salaam during the commemoration of the 69th anniversary since the signing of the Schuman Declaration which marked the birth of the EU. The occasion was also attended by heads of diplomatic mission in the country, government officials, representatives of Non-governmental organizations (NGOs) and civil society organizations. He said that Tanzania and the EU have been partnering in ensuring high…

South Korea has managed to maintain its first position on 2018 Bloomberg Innovation Index for the fifth consecutive year. The 2018 Bloomberg Innovation Index results published on January 22, 2019 which compiles the index based on data from sources including the World Bank (WB), International Monetary Fund (IMF) and Organization for Economic Co-operation and Development (OECD), credits South Korea`s top ranking to Samsung. The electronics giant is South Korea`s most valuable company and has received more US patents than any company other than IBM since the start of the millennium. This innovation trickles down the supply chain throughout South Korea`s…

Tanzania`s vast geographical boundaries and mobile phone penetration among its demographics have attributed to a shift of many Tanzanians from traditional cash transactions to emerging mobile payment solutions. Mobile solutions are being used to send money home, facilitate informal business transactions, pay bills, or buy pre-paid electricity. Notably, low-income people, especially in the rural areas, find value in remote digital payment solutions. According to the second National Financial Inclusion Framework 2018-2022 (NFIF2), mobile payment solutions have contributed to an increasing number of adults in the formal financial systems, from 58 per cent in 2013 to 65 per cent in 2017.…

Less than a fortnight after a thousand visitors from the Middle East toured Tanzania, the country has just received the first batch of expected 1,000 tourists from the Far East. Landing at the Kilimanjaro International Airport (KIA) on Sunday 13th May, 2019 evening, more than 350 tourists from China kicked off their itinerary by sampling Northern Zone attractions, including the Ngorongoro crater and Serengeti National Park. They were received at the airport terminal by the Prime Minister, Kassim Majaliwa, who described the entourage as yet another indication that Tanzania is becoming a lucrative destination for visitors and investors from overseas.…

China`s economic miracle is a combination of several factors, including globalization, openness and cooperation, a prominent Chinese national stated. Speaking during a high-level business talk in Dar es Salaam, board member, deputy secretary and member of the party committee at Moutai Group, Wang Yan, said 40 years ago, China was poorer than most African countries at present. The business talk, which was graced by former Prime Minister, Mizengo Pinda held in Dar es Salaam, was part of the `Cultural Moutai, Colourful Guizhou` – China Kweichow Moutai Belt and Road Branding Initiative in Tanzania.` The business talks also coincided with the…