Author: Padili Mikomangwa

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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South Africa, Africa’s most diversified economy has taken a hard hit on its currency as investors grow increasingly anxious over the impact of the spread of corona virus in Africa.

According to a reuters report, investors are slowing down as they are calculating the economic impact of China’s spreading coronavirus outbreak.

According to Reuters, at 0702 GMT, the rand traded at 14.4800 versus the dollar, 0.59 per cent lower than its New York close on Friday.

The South African economy has sustained a rather serious shakedown over the past year, causing its business index to plummet, thus—reports show the sluggish outlook for the local economy added further strain on the currency on Monday.

Global Markets tumbled on Monday as investors grew increasingly anxious about the economic impact of the outbreak of coronavirus, which has taken more than 80 people’s lives.

Further, Reuters noted that a weak growth outlook for …

Zambia, Africa’s second-largest copper and cobalt producer stands to sustain a serious hit in its mining industry as the leading diversified natural resources producer, Eurasian Resources Group (ERG) had planned to put its Chambishi Metals copper and cobalt refinery in Zambia under maintenance and cut 229 jobs by the end of January.

According to a report by Reuters, the President of Mineworker’s Union of Zambia commented to the news agency that the union was informed of the layoffs as the miner was halting production temporarily due to difficulties sourcing raw materials for the refinery.

Reuters also confirmed that Zambia’s mines minister Richard Musukwa had been informed about the layoffs.

International Trade Administration (ITA) indicates that Zambia possesses the world’s highest-grade deposits of copper and is ranked the seventh largest copper producer and contributes to over 70 per cent of the nation’s foreign export earnings.

Zambia mining industry contributes 12 per …

Zambia’s economy is expected to grow by 3 per cent, according to nation’s President Edgar Lungu who said on Thursday that, the nation’s economic growth will be slightly off the previous forecast of 3.2 per cent.

According to Reuters, President Lungu revealed the growth projection when he was meeting diplomats, and commented on the fiscal deficit which was expected to shrink from 6.5 per cent in 2019 to 5.5 per cent in 2020, while inflation would remain within the range of 6 to 8 per cent.

However, in October 2019, Bloomberg reported that Zambia’s inflation rate remained at a three year high in October and economic growth slowed, complicating the central bank’s task.

Further, annual consumer inflation accelerated to 10.7 per cent from 10.5 per cent in September 2019, whereby Zambia Statistics Agency noted to be the fastest rate of price growth since October 2016.

The economy of Africa’s second-biggest …

Barrick Gold Corporation is back to business with Tanzania, after signing an agreement with the government of Tanzania earlier today in the commercial city, Dar es Salaam.

According to a statement from Barrick, the agreement formalizes the establishment of a joint venture between Barrick and the government and showcasing the government full visibility of and participation in operating decisions made for and by the North Mara, Bulyanhulu and Buzwagi mines.

Barrick finds the latter a rather pioneering move that would take its policy of partnership with its host countries to a new level.

Further, the agreement has ratified the creation of Twiga Minerals Corporation (of which initial establishment began last year), the management company jointly owned by the government and Barrick, overseeing the miner’s local operations.

The corporation is now owned 84 per cent by Barrick and 16 per cent by the government. Also, the deal provides for a 50/50 …

Africa’s e-commerce giant, Jumia is taking bold steps to revitalize its profits after experiencing a hard turn in 2019, e-commerce giant co-founder, Jeremy Hodara revealed to Reuters.

According to Hodara, Jumia (which is listed at New Stock Exchange) current focus is on capitalizing its payments and infrastructure network and boost revenue from services for third-party sellers on its online marketplace.

The company managed to attain a $ 4 billion peak value, before plummeting in shares by almost 70 per cent since its initial public offering (IPO) in April 2019.

“We’re going to be extremely disciplined and very focused on our path to profitability,” Hodara told Reuters on Tuesday.

READ:More people in East Africa are embracing Ecommerce

In November 2019, Jumia pulled out in Cameroon and Tanzania, as well as holding its food delivery in Rwanda, thus—still Jumia’s chief has not revealed if the company plans to shrink its market …

South Africa’s power cuts cost the national economy up to $8.3 billion, South Africa Council for Scientific and Industrial Research (CSIR) research findings reveal.

READ:Eskom, BRICS bank sign $180 million renewable energy deal

According to a report by Reuters, CSIR highlighted that the power crisis which escalated last year is predicted to persist for the coming two to three years.

The state-owned utility Eskom which supplies 95 per cent of the nation’s power was forced to implement intense power cuts across the country in 2019 when its vital power plants were devastated by floods.

The state power utility cut 6,000 megawatts from the national grid, disrupting power supply to businesses and households.

Further, the power cuts are one of the biggest challenges facing President Cyril Ramaphosa as he tries to revive investor confidence in Africa’s most industrialized economy.

According to Reuters, Ramaphosa has promised to break up Eskom to …

The African Climate Change Fund (ACCF) has given the African climate-resilient a serious boost of $4.7 million to finance seven new project proposals.

According to African Development Bank (AfDB) press release, the project funding is parallel to its  2013 – 2022 strategy  and Climate Change Action Plan 2016 -2020, which are full of top-notch projects addressing climate change challenges.

In that context, AfDB highlighted that the projects on the table were fenced around collaboration with other key placers such as local Non-Governmental-Organizations (NGO’s) operating within the regions, the projects are as follows.

Syntropic agriculture as strategy to foster resilience, climate adaptation and recovery of vulnerable communities living in degraded marine and coastal ecosystems in Mozambique: This project will improve the environmental resilience and economic sustainability of smallholder families in Zambezia Province using scaled-up “gender-oriented eco-governance productive model”; it will be implemented by ICEI, a non-profit organization, and ORAM, …

The Tanzanian government has found itself within mining dispute after three mining companies operating in the country, over various mining disputes.

The three have engaged the government in among other disputes a breach of international laws and mining licenses.

Winshear Gold Corporation

Canadian miner, Winshear Gold Corporation was the first miner to serve notice of intent to the Tanzanian government on January 10, which is in accordance with the 2013 Agreement for the Promotion and Reciprocal Protection of Investments (Bilateral Investment Treaty – BIT) was delivered to the Attorney General of Tanzania.

According to the company’s statement, the dispute develops out of certain acts and omissions of the United Republic of Tanzania in breach of the BIT and international law, relating to the Company’s investment in the SMP Gold Project located in Tanzania.

The gold miner commenced exploration activities on the SMP Gold Project in 2006. Successfully the company via …