Author: Giza Mdoe

I can vividly remember sitting in a Nairobi classroom in Kenya and scribbling away my discussion to validate that assertion. I also clearly remember answering the same question in Ordinary Level Secondary school in Jinja, Uganda and when I returned to my country of birth, Tanzania, I again had to respond to the same question in Advanced Level High School. My explanation was simple, Egypt is a dessert country and its main source of fresh water is the Nile. Without the Nile, they would be no Egypt… It was the correct answer; the answer that my teacher liked and am…

Five years ahead of schedule Tanzania achieved middle income status. To be exact, the World Bank changed it’s classification from ‘a low-income to a lower-middle-income country.’ East Africa’s sleeping giant is finally awakening. Right in the middle of the global Coronavirus pandemic, Tanzania has provided a rare piece of good news — on 1 July 2020, the country achieved its middle-income vision five years ahead of schedule. – The Africa Report The World Bank’s news was announced to the country by it’s President John Magufuli bringing even more recognition to the achievements of Tanzania’s fifth administration. In his twitter handle, the president…

The elephant population in Tanzania has increased from 43,330 in 2014 to over 60,000 this year. The government attributes the increase to crackdown on poaching syndicates. A key figure in the poaching and black market trade of ivory, was arrested denting the industry greatly. Christened, the “Ivory Queen” Yang Fenglan, a prominent Chinese businesswoman was last year sentenced to at least 15 years in prison. However, by time of her arrest, it is estimated she alone was responsible for the smuggling numerous tones of ivory to China. Yang was tried and found guilty of operating one of Africa’s biggest ivory-smuggling…

Africa Finance Corporation (AFC), an investment multilateral finance institution has issued a CHF bond that matures in 2023 and which has already oversubscribed. AFC invests in high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. To date, the Corporation has invested over USD6.6 billion in projects within 30 countries across Africa. This latest bond issue has attracted great investment across Europe with AFC saying ‘it received strong investor interest from private banks and asset managers, and the bond has experienced an over subscription.’ “The response to our second…

When there is conflict, it is the general society and businesses that suffer the most, in fact business should be at the forefront of advocacy for peace. With almost every element of business going digital, the question of digital platforms been used for radical sentiments is not a political agenda but a socio-economic one. There is need to take concerted action to promote and facilitate peace especially now, in an age where social media is been used to spread radical content online. Social media and other digital platforms are also very powerful tools to prevent conflict and extremism and promote…

When you are a small start up in Africa, you do not dream of getting listed on the London Stock Exchange, or shall we say, that is indeed all you dream of, and far fetched dream that is. However, maybe not so far fetched, if you can achieve consistent annual growth and, keep your finances transparent. While their business growth is a main factor to get them on the shortlist, however, to be listed in this report, the company must also show transparency in reporting its finances. In its recent report, titled ‘Companies to Inspire Africa’ the London Stock Exchange…

In Africa’s metropolises, you don’t have to be rich to wear Gucci Armani or Prada, no sir, it is common place to see women in the slums carrying Dolce Gabbana handbags. In fact there is a prominent saying across most all of Africa’s urban centres like Dar es Salaam and Nairobi “…everyone looks good in mtumba.” Mtumba, is Swahili slang for second hand clothes, and Africa is one of the world’s leading importers of second hands, from caps, t-shirts and shirts, to pants and shorts all the way to bras and women underwear, yes second hand bras and underway are…

The African Development Bank (AfDB) ‘2020 African Economic Outlook’ report is very optimistic about East Africa’s economic performance, despite the setbacks of Covid-19. The report shows that on average, the region registered growth of 5 percent throughout all of last year. Once again, it is the small landlocked Rwanda that booked the highest growth rate reporting an impressive 8.7 per cent. However, worth noting is that Rwanda’s annual economic growth did take a hit from the global pandemic and slowed to 3.6% in the first quarter of 2020. Second runners up was none other than Ethiopia which brought home 7.4 per cent in…

Trouble laden Petra Diamond is planning to sale 75 per cent stake of its Tanzanian diamond business but the government of Tanzania says, no. Rightfully so, because as a stakeholder, the government had every right to be informed prior to any sell attempt and in this case, it was not. The company currently owns the Williamson mine in partnership with the government of Tanzania and as a share holder, the government has said it was not consulted prior to the sale plans. This government response comes just a fortnight after the UK based miner announced the decision to sell. In…

The Tanzania insurance market is still very much untapped and even as the country achieves middle income status, much of the population is still not insured. Commercial banks in the country have smelt opportunity in the industry and are now circling in. CRDB Bank, a leading bank in Tanzania, recently announced plans to register its own insurance subsidiary firm. The bank is currently already a broker and enjoying considerable premium back payments which almost double in the span of just 3 years (2016-2019). In an interview with local media, CRDB’s Broker General Manager, Mr Arthur Mosha said in that short…