Author: Giza Mdoe

The hospitality industry is changing fast. When considering the future hotel experience, you are no longer just looking at a travel destination or a sleepover spot. Hotels of the future must offer more. An ‘augmented hospitality experience’ is what experts are calling it. Thus, stakeholders in Africa’s hospitality industry must explore ways to adapt.…

• Tanzania to sell government shares in parastatals to public.
• President Samia decries loss-making parastatals, announces reforms.
• The private sector is eager to learn which parastatals will sell shares.

Tanzanian government is taking bold steps to inject new life into its ailing parastatals by opening their doors to private sector investment. This strategic shift marks a departure from the government’s previous stronghold over these enterprises, aiming to rejuvenate their operations and stimulate economic growth.

President Samia Suluhu Hassan’s executive order to sell shares in public parastatals signals a transformative move towards reviving entities that have struggled to remain competitive.

The motivation behind the decision extends beyond economic growth—it echoes the vision of Tanzania’s founder, Mwalimu Julius Nyerere, who envisioned these enterprises as assets owned by the people and the private sector.

Unleashing the Tanzania parastatals’ potential

By transferring ownership to the private sector, the government aims to foster public authority and …

• Across Africa, a direct correlation exists between income levels and energy use.
• Poor households are often constrained to rely on environmentally detrimental fossil fuels like charcoal and firewood for energy.
• With better incomes, African households can transition to cleaner energy alternatives such as natural gas.

The pioneering work of Kraft and Kraft in the mid-20th century established a link between energy consumption and economic growth in the USA. Drawing on similar principles, recent research has highlighted a direct connection between income levels and energy consumption patterns in Africa.

This article delves into the intricate relationship between income and energy use in Africa and emphasizes the pivotal role of financial inclusion in addressing poverty and climate change.

The link between income and energy consumption

The fundamental theory of consumption posits that household income shapes consumption habits, encompassing not only food but also energy sources. Notably, a direct correlation exists between …

• Globally, it’s time to usher in an era of sustainable resource management, embrace green practices, or face the risk of extinction.
• Achieving development without polluting our surroundings is not only vital for human well-being but is the bedrock of our very survival.
• Fuel subsidies provided to oil companies by governments have perpetuated the use of polluting fuels, leading to staggering mortality figures.

The world’s pursuit of progress and development has come at a hefty price, as pollution and environmental degradation threaten our very existence. Clean air, land, and water – the fundamental pillars of life – are now under siege due to unchecked industrialization and unsustainable practices. The question looms: Can humanity continue to advance without imperiling its own survival?

Sustainable financing

The urgency of the situation is crystal clear. Achieving development without polluting our surroundings is not only vital for human well-being but is the bedrock of our very …

• With Tanzania’s urbanization on the rise, the need for affordable housing finance is increasing.
• High-interest rates and lack of affordable housing remain the prime constraints facing Tanzania’s mortgage market.
• There are 32 banks offering mortgage facilities, down from 33 following acquisition of First National Bank Tanzania Ltd by Exim Bank Tanzania Ltd.

In the sun-soaked expanses of Tanzania, a housing revolution is unfurling, led by an unlikely conductor: interest rates. The symphony of change echoes the crescendo of demands for affordable housing, reverberating from the National Housing Corporation (NHC).

With Tanzania’s urbanization quickening its pulse, the need for housing finance surges alongside the ascent of metropolitan dreams.

In a nation where growth is as tangible as the earth beneath, the NHC’s data reveals an urgent anthem: a staggering demand for three million housing units, sprouting at a rate of 200,000 annually. This wave is in sync with the rapid urbanization …

• 2Africa Submarine Cable ushers in unprecedented internet speeds of 180 terabytes per second.
• The cable is a success story of partnership between Tanzania, Airtel Tanzania and 2Africa Submarine Cable.
• The cable comes at a time Tanzania is rolling out 5G internet WIFI in business parks, and public transport centres.

In a historic development, 2Africa Submarine Cable, the world’s longest submarine communication fibre link, has successfully reached the shores of Tanzania. Spanning 45,000 kilometers and interconnecting over 33 countries across Africa, Asia, and Europe, this cable will benefit more than three billion individuals worldwide.

2Africa Submarine Cable a success story of PPP

Spearheaded through a Public-Private Partnership (PPP) between the government and Airtel Tanzania, the 2Africa Submarine Cable marks the dawning of a new era in the realm of communication. Tanzania’s Minister for Information, Communication, and Information Technology, Nape Nnauye, expressed his optimism about the transformative potential of this project, …

• A number of factors are hindering Tanzania’s journey to make cashew its true cash cow.
• Cashew nuts account for an impressive 15 percent of the country’s annual forex earnings.
• Estimates show Tanzania contributes over 20 percent to the continent’s annual cashew nut supply, a remarkable feat by any measure.

Tanzania, a nation adorned with natural beauty and abundant resources, boasts a flourishing cashew nut industry that has long been a cornerstone of its economy.

Accounting for an impressive 15 percent of the country’s annual foreign exchange earnings, the cashew sector is undoubtedly a vital component of Tanzania’s economic landscape. Yet, amidst the lush orchards and the promise of prosperity, lies a story of unrealized potential. There are hurdles that the nation must overcome to harness the true power of its cashew bounty.

Ranked as Africa’s fourth-largest cashew producer, Tanzania contributes over 20 percent to the continent’s annual cashew nut …

• Today, many Africans struggle to manage their finances, often using up their salaries before they even receive them.
• This struggle is partly due to a failure of financial inclusion, which is a chance for all individuals to access financial tools.
• Financial inclusion is a means of reducing inequality and bridging economic gaps.

Financial inclusion is a concept that transcends economic borders, embodying the idea that access to financial services is a fundamental human right that can empower individuals to build wealth and improve their lives.

While financial inclusion might appear irrelevant to those who seemingly have access to financial tools, it’s imperative to recognize that a significant portion of the global population, particularly in Africa, still faces barriers to formal financial services.

According to the World Bank’s 2021 Global Findex report, up to 38 percent of adults in developing countries remain unbanked.

Financial inclusion means bridging gaps

At its core, …

• DRC President Tshisekedi pledges peaceful elections on 20 December 2023.
• DRC is enjoying five years of steady economic development under President Felix Tshisekedi 
• The country is well underway to becoming Africa’s top investment destination.

Since the Democratic Republic of Congo (DRC) President Felix Tshisekedi came into power in 2018, he has spearheaded the revamping of the mineral-rich country’s economy.

The numbers tell it all. The DRC GDP in 2018 was $47.57 billion before rising to $51.78 billion in 2019. As of last year, it clocked an impressive $58.07 billion. Had it not been for the economic rout brought by Covid-19, the DRC’s GDP would have been considerably higher.

Today, the DRC is well on its way to attaining its rightful status as a key investment destination in Africa. How did DRC President Tshisekedi manage to drive this economic revolution?

DRC role in regional integration

In a move that has culminated …

• Tanzania hosts World Bank Group Human Capital Project (HCP)
• President Samia announces national efforts to increase youth employment
• Africa suffers the lowest learning poverty in the world

It is now three years since the World Bank Group launched the Human Capital Project (HCP) in 2018, and Tanzania is making the best of the initiative.

Let’s first look at the World Bank Group’s intentions under the Human Capital Project (HCP) and then see how Tanzania intends to lead the rest of Africa in the implementation of the project. The HCP is a global effort to “accelerate more and better investments in people for greater equity and economic growth.”

The HCP is an initiative by the World Bank to help countries increase employment and employability of their workforce.

Since its launch in 2018, the initiative now has some 87 members. On July 25, Tanzania hosted the launch of the Africa Heads of …