Author: Padili Mikomangwa

Tanzania is advancing towards the top and it seems nothing can stop it. The nation’s central bank (BoT) report, Economic Bulletin for the Quarter ending March 2021, showcased how the country is navigating through different sections of the economy, including its stringent monetary policies, public finance, financial market developments and external sector (imports and exports). 

The bank highlighted that the economy is projected to grow by 5.7 per cent this year, propelled by public investment and normalization of global trade and investment. 

At the moment Tanzania is proving to be courting investment, by adjusting its investment climate, setting the right tone to attract investors and forging strong partnerships—Kenya and Tanzania’s recent business agreement and the profitable East African Crude Oil Pipeline (EACOP) between Tanzania and Uganda evidence how serious is Tanzania about business. 

The central bank of Tanzania’s economic bulletin for the quarter ending March 2021, analyzed the economic performance of the Zanzibar-semi autonomous region of Tanzania, which is widely known for its exotic tourism experience and spice farming. The detailed report brought up interesting issues along the lines of clove production, inflation, public finance, imports, and exports. READ:How Zanzibar’s presidency 100 days in office cast economic prospects Clove performance Zanzibar has marked its spot across the region within clove production over the past decade, hence over the past years, performance in the sub-sector has been dwindling. According to the bulletin, “There were…

Kenya, East Africa’s largest and most advanced economy is currently the leading region exploring and installing geothermal energy capacity (standing at 676 MegaWatts, 2019) according to ESI Africa, hence Kenya is seeking to expand its geothermal mastery. On a larger scale, the geothermal technology is rather at an initial phase in Africa, as developed nations take the lead, including high-installed capacities in the US with more than 3.8 gigawatts, according to Power Technology publication. Kenya Electricity Generating company has taken its interest to another level, as it seeks to raise at least $1.95 billion to build new and upgrade existing…

East Africa’s most close trade partners, Kenya and Tanzania have resuscitated their relationship, as President Samia Suluhu Hassan and Uhuru Kenyatta improve their relations by tying new deals to the table. This new dawn comes as President Samia executes her strategic state visit in Kenya since the last visit made by her predecessor the late President John Magufuli in 2016. According to information from The Citizen, the two neighboring countries agreed on fortifying trade and economic relations and “re-energize the joint commission on cooperation”. The central bank of Tanzania (BoT) and Tanzania Revenue Authority (TRA) data show that Tanzania’s trade…

The central bank of Tanzania (BoT) releases the April 2021 monthly economic review and it depicted the economy to fair rather moderately amid the waves of COVID-19 recovery globally. At the moment, Tanzania economy is projected to grow by 5.7 per cent this year, propelled by public investment and normalization of global trade and investment, according to BoT. Inflation According to the report, inflation remained low and within the benchmarks set forth at both the national regional levels. “Year-on-year headline inflation eased to 3.2 per cent in March 2021 from 3.3 per cent in the preceding month and 3.4 per…

The central bank of Tanzania (BoT) released its monthly economic review for April 2021 and it analyzed Zanzibar economy performance rather closely, whereby inflation, government budget operations, imports and exports performance depicted moderate improvement. Zanzibar is a semi-autonomous region of the United Republic of Tanzania, made up of two main isles Unguja and Pemba. There more than 1.7 million people in the archipelago. The isles are mainly known for their exotic tourism landscapes and agricultural exports particularly spices. However, the office of the Chief Government Statistician Zanzibar (OCGS) published an interesting consumer price index for April 2021. The report showed…

The future of Africa is fenced around its ability to utilize renewable energy potential. Harnessed effectively, Africa stands to become the next world powerhouse and take over energy production once and for all.  

In this context, the African sun has plenty of potential to transform the continent’s energy generation landscape.  Africa is endowed with plenty of renewable energy, hydropower and natural gas. 

The International Energy Agency points to Africa as a region harbouring nearly 17 per cent of the global population but it only holds four per cent of global power supply investment. 

Unification is the key to success in the 21st century. This can be seen with the advent of development pacts across the world, particularly the G5, G20, and SADC (Southern African Development Community) to mention a few. 

According to the Kenya High Commission in Dar es Salaam, Kenya and Tanzania have maintained close relations over many years founded on similar ideas in areas such as the rule of law, fundamental freedoms, social and economic order, and good governance, and with a special focus on economic and financial market issues. 

Tanzania is yet another country making a series of moves within the realms of the economy. At the moment the sixth President of Tanzania, Samia Suluhu Hassan is laying another foundation on top of the late John Magufuli presidency’s legacy, which was cut short before it took off for a major portion of its second term. 

Earlier in April Tanzania and Uganda managed to strike a victory on the crude oil pipeline project that had stalled. In effect, President Hassan managed to pass another crucial item left by Magufuli’s presidency forward. 

It is a sad day for Africa and Mozambique as Total SE the French energy company seal its $20 billion liquified natural gas (LNG) project in the security risk country rich in natural gas reserves, according to information from Total. “Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, Total confirms the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation leads Total, as operator of Mozambique LNG project, to declare force majeure,” Total statement reads in part. Mozambique as one of the few countries with natural gas…