Author: Giza Mdoe

Tanzania has introduced the use of Electronic Tax Stamps (ETS) water bottles and soft, carbonated drinks. The move is meant to add on to the already registered increase in tax collection. The Tanzania Revenue Authority (TRA) reported earlier this year that it has seen a 34 percent increase in revenue collection thanks to the use of the Electronic Tax Stamps (ETS) on branded products. The ETS system was first rolled out in Tanzania early last year (15 Jan 2019) after regulations was passed to have all manufacturers in the country install an electronic tax stamp management system. The tender went…

As part of your positive reinforcement regimen, you have probably bought junior that tasty chocolate biscuit that he loves so much or the packaged ice cream that has him agreeing to anything you say. Did you know almost all snacks are made using the most popular vegetable oil in the World, Palm Oil? Palm oil is used in the preparation of most processed foods from biscuits to chips to instant noodles. It is also used in the manufacturing of soap and cosmetics, and with the exponential increase in population, global demand for these products has equally put pressure on the…

Uganda’s parliament has tabled a motion to cut the powers of the Central Bank’s Governor and in effect the powers of the Bank itself, a move that, shall we say, aims to clip the Crane’s wings. For those who do not know, the animal symbol for Uganda is the Crane.  Majestic and rare to Uganda, the grey crowned crane represents the symbol of wealth, hope and fidelity. The crane appears on the national flag as well as on the country’s official coat of arms. The crane adorns several of the country’s currency and coins minted by the Central Bank of…

For many in Africa, the concept of an electric vehicle is still new, by the time these futuristic automobiles become popular in Africa, land rights in the Congo may very well be buried deep in the cobalt mines.  Did you know, the Democratic Republic of the Congo produces more than half of the world’s supply of cobalt? You probably did not, neither did I. Here is another fun fact, did you know cobalt is the mineral that powers your phone battery, your laptop battery and most all your rechargeable batteries? I bet you were also not aware that this bluish mineral…

Tanzania became the first East African nation to reopen its schools, businesses and ports of entry, charting a new path in the management of the Corona Virus. As of May 18, Tanzania reopened its airspace for international arrivals and the World is responding. Only three days after it announced its reopening its airspace, local media reported that a chartered airplane landed at the Kilimanjaro International Airport on May 21. The plane had on board four Greek nationals. Previously, the tourists would have had to go into a 14-day mandatory quarantine but not anymore. Now anyone entering the country only needs…

There has not been a more demanding time for Africa to adopt modern agriculture methods than now. In the wake of the Covid-19 pandemic, food security in Africa is threatened at all levels and farming activities have nearly been brought to a standstill. African farmers lost market as borders closed and flights were grounded to curb the spread of Covid-19. As a result the, pandemic severely affected the agriculture value chains from supply of inputs to transporting the end product. Africa now finds itself more in need of modern farming methods to increase production in a cost effective manner. However,…

U.S. dollar is muscling it up against gold, but the precious metal just wont let up, not with the threat of a second Covid-19 outbreak as new cases emerge. In Africa, the big gold miners, Tanzania is one of the countries that made some good money out of the increased demand for gold during the height of the Covid-19 global pandemic. However, over the past month, World market prices for gold declined slightly due to decrease in global demand as economies begin to stabilize Actually, the prices for several selected commodities were lower in the year ended March than in…

Amid strong demand for automotive vehicles, several domestic and foreign manufacturers are planning to expand their production bases in Tanzania. Government of Tanzania also prioritizes the automotive segment as a key revenue generator and is encouraging flow of FDIs in automotive industry – Tanzania Automotive Market, Size, Share, Outlook and Growth Opportunities 2020-2026 (Report) Tanzania is one of the most promising and fastest growing automobile markets in the region. Tanzania automobile industry is supported by multiple factors such as labour availability, R&D efforts, geographic advantage and government support. With positive outlook for economy and greater household purchasing power, the automobile…

The year started out as very promising, Nigeria’s crude oil and gas export sales revenue hit a record USD434.85 million in January. That was apparently the best the sector would do this year. It is estimated that the country’s oil revenue is likely to decline by 80 percent this year.  In fact oil export volume is projected to fall to 1.3 million barrels per day. For a country where oil represents 90 percent of the country’s exports, 30 percent of bank credits and 50 percent of fiscal revenues, an 80 percent fall (USD17 billion) spells doom not only for the…

Zimbabwe is on the verge of another economic cramp that is bound to be far worse than what it has been suffering for the last decade. Already, the nation has been on an indefinite national lock down for the third month running, and now, the pandemic is really taking a dire toll on the economy. Well, it is not the Coronavirus effect that is bound to doom Zimbabwe into an economic crunch (yet again).   Rather, it is the country’s tendency to simply print money whenever it deems fit; if only life were so easy! Zimbabwe, like all other countries, is…