Author: Padili Mikomangwa

Liberia, Africa’s oldest republic has been endowed by abundant renewable energy that could enhance power generation, and African Development Bank (AfDB) just approved a $34.74 million grant and loan to boost renewable energy access as well as investment in the country.

According to AfDB statement, during the first project (Renewable Energy for Electrification in Liberia) over $ 33 million—in grant from AfDB and strategic climate fund scaling-up renewable energy program, will be targeted at supporting renewable energy sector.

Further, the approved funds will go towards construction of a mini dam on the St. John River in Nimba County in northeastern Liberia and the development of the Gbedin hydropower Falls with a total capacity of 9.34 megawatts of power, to be transmitted through an 8 km, 33kV line connecting 7,000 households.

According to US Agency for International Development (USAID), Liberia has one of the lowest electricity access rates in the …

The expansion of Africa’s economy—exemplified by East Africa’s vibrant economies(Kenya, Tanzania, and Rwanda) by adopting the manufacturing industry landscape and marrying it with high-end technological developments have both triggered a demand for more power,currently leaning towards renewable energy—all the while grappling with the challenge of high unemployment rates.

The United Nations 25^thConference of Parties (COP 25) on climate change highlighted strictly on nations mitigating greenhouse gas emissions by adapting to renewable energy in their economies.

Morocco and Zambia are now embracing the adoption of wind and solar power with assistance from Green Climate Fund (GCF) and the African Development Bank (AfDB).

GCF and AfDB supported Zambia with a $154 million renewable energy fund to finance its framework, and lift the nation from electricity demand challenges, as the country relies on hydropower generation for 90 per cent of its needs.

Renewable energy in Africa could be a mighty saving …

Tanzania and World Bank have been close development partners for more than 54 years, and throughout the years—Tanzania has benefited from several funds that tap into the core of transforming the development landscape in one of the largest economies in East Africa.

According to World Bank, in the last 50 years, the cooperation between the Bank Group and the Government has grown in financing, grants, policy advice, and research; covering various areas from macroeconomic management to projects in transport, energy, education, health, and other key sectors for both Tanzania Mainland and Zanzibar’s development.

Recently the government of Tanzania has experienced a hard-time securing a $500 million education loan from World Bank, scheduled to revitalize the crucial sector in Tanzania.

The loan could be largest financial assistance provided to Tanzania within the past three years aimed at the education sector.

And yet—the loan has been delayed, in the wake of human …

On Monday, the South Africa’s rand firmed back to below the key 15.00 per dollar mark, which is mostly on profit-taking and month-end positioning after a sustaining a steep slide triggered by the Wuhan coronavirus shaking the world, Reuters reveals.

At 0700 GMT the rand was 0.43 per cent firmer at 14.9650 per dollar, having ended at 15.0300 on Friday. The coronavirus dragged the currency to its weakest level in three months—traded at 14.4800 last Monday, which was 0.59 per cent lower than its New York Close on Friday, January 24.

Reuters reported that investors concerned about the spread of the coronavirus wiped more than $400 billion off the value of China’s stocks in the first trading session in two weeks after an extended Lunar New Year break as the death toll from the epidemic rose to 361.

READ:Coronavirus and the Implications for Emerging Markets

The rand has tumbled …

Tanzania, one of East Africa’s largest economy is executing a phase-based sim cards shutdown across the country, following the set deadline of biometric sim card registration.

The procedure comes at hard times when, only 28.4 million sim cards have been registered by January 19, while Tanzanian Communications Regulatory Authority (TCRA) statistics show 48.8 million active sim cards are active in Tanzania.

In a nation with more than 55 million people, mobile services have become the most pervasive communications platform in Tanzania; by 2007, over 5 million people, representing a 10^th of the population, subscribed to a mobile service. Hence—the 2019 GSM report on Digital Transformation in Tanzania, showed that today, the number of unique mobile subscribers has grown five-fold to 25.2 million.

This means that Tanzania’s current sim card lock could lose a significant portion of the tax and cripple money transfer income to mobile money agents and services …

The China Coronavirus outbreak has shaken the world with fears of its spread looming.

Global markets have witnessed investors pulling their resources while calculating the economic impacts of the outbreak.

As China dines with Africa on the economic lines of trade, investment, and industrialization, there are rising concerns of whether the continent can contain the virus, which has already taken over 170 lives, with 7,000 confirmed cases and spread in about 15 countries.

Economic ramifications

There are growing concerns about the impact of the outbreak on Africa’s economies, earlier this week, a broad sell-off was witnessed in the global markets, affecting South Africa’s rand performance.

Theafricareport indicated that Johannesburg Stock Exchange plunged by as much as 2.6 per cent on Monday 28, the steepest decline in more than eight months.

South Africa, Kenya, Ethiopia, Uganda, Zambia, and Tanzania are some of the vibrant partners of China, whose economies rely on …

The Tanzanian government has taken serious precautions towards curbing the China coronavirus outbreak that has taken over 170 lives and more than 7000 new cases confirmed.

According to the Tanzanian Foreign Affairs Minister Palamagamba Kabudi, who was quoted by The Citizen, Tanzanians in China, particularly those with plans to travel abroad, have been urged to take attentive precautions related to guidelines issued by the Chinese government.

On the other hand, Tanzania’s national carrier, Air Tanzania told Reuters that it will resort to postpone its maiden flights from commercial capital Dar es Salaam to China.

The state-run carrier has been promoting and planning its charter flights to its historic development partner next month ahead of the expected launch of scheduled direct flights to the key Asia tourist hotspot.

Air Tanzania managing director Ladislaus Matindi told Reuters that, the company is taking precautions for the safety of its passengers, despite acquiring a …

South Africa’s rand has gained a slightly against the dollar early on Tuesday, after beginning the week on Monday on the back foot as investors calculated the economic impact of the coronavirus, which left stocks in Asia abandoned by investors.

Reuters reported that Africa’s most diversified economy currency firmed after hitting a more than six-week low in the previous session, and yet the coronavirus still weighs on the economic outlook.

At 0640 GMT, the rand traded at 14.5800 per dollar, 0.17 per cent than its previous close, while on Monday, at 0702 GMT the rand traded at 14.4800 versus the dollar, which is 0.59 per cent lower than its New York close on Friday 24th.

On the other hand, Reuters reported that the rand slipped to 14.6570 per dollar on Monday, its weakest since Dec. 12, with the selloff largely driven by investors dumping emerging-market assets.

Nedbank analysts wrote in …

Tigo, Tanzania has unveiled a new package, allowing its customers to call across networks at the same tariff.

The package dubbed “Ujanja Ni” is expected to increase its customer base by stiffening competition witin the telecommunication sector in the country.

According to a statement from Tigo, the package offers absolute freedom to call any network at the same tariff, and customers purchase the voice, and data packages at affordable and competitive prices.

Tanzania Communications Regulations Authority (TCRA) September 2019 quarterly statistics, put Tigo Tanzania with 26.1 per cent of the subscription market share, at the height of voice consumption along-side other telco giants Vodacom and Airtel Tanzania.

The launching of the service adds up on the Tanzanian government’s efforts in ensuring that making calls across all networks in Tanzania is affordable and gives customers the assurance to enjoy a better internet experience on the biggest 4G+ network in the country.…

Barrick Gold, world’s second-largest gold producer, will start to ship out gold estimated to be worth $280 million from Tanzania, the miner chief executive Mark Bristow told Reuters on Monday.

According to Bristow, the decision to export came after, Barrick and the government of Tanzania, settled its three-year- tax disputes.

On Friday, January 24, Barrick and Tanzania settled the dispute, and the signing ceremony which was televised marked a fresh start for Barrick which is the largest miner in Tanzania.

“The shipments will start immediately and, as we speak, we are mobilizing the concentrates. It’s (worth) around $260-$280 million depending on the price of metal prices at the time of sale” Mark Bristow told Reuters in a telephone interview

Spot gold, which rose 18% last year, is hovering at about $1,600 per ounce. And yet, Barrick’s operations in Tanzania, contribute almost 6 per cent of its gold output.

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