Author: Salum Mohamed

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Standard Chartered Tanzania has been named the Best Consumer Digital Bank in Tanzania, 2019 by the financial journal, Global Finance.
In addition to the award, the Bank has also been recognised for its information security and fraud management systems, under its digital offerings. Commenting on the award, Standard Chartered Bank Tanzania CEO Sanjay Rughani reflected on how the award reaffirms the Bank’s commitment to its digital agenda and how the Bank is leading the way in developing digital solutions that are aligned with country’s financial inclusion agenda. He added, “Our Digital Bank on Mobile solution is a demonstration of how the Bank continues to be on the cutting edge of strategic technology investments and marries very well with our customer obsession mantra”. “Digitization to us means disruption from traditional and conventional ways of banking to transforming banking business with the sole objective of improving client experience. It is imperative that …

Every plastic bag, paying little heed to thickness, will be restricted from being imported, sent out, made, sold, put away, or provided for use in Tanzania.

Visitors to East Africa’s most populous nation, nearly 57 million, have been told to expel plastic bags from their baggage before traveling.

WWF Nation Executive Dr. Amani Ngusaru has complimented the administration for venturing up the battle against plastic contamination in the nation. He said WWF Tanzania is inspired with the Tanzania government’s choice to boycott the utilization of plastic bags.

“Plastic is a number one polluter of environment and a silent killer of our natural environment and resources than most people understand. This is because it takes more than a hundred years for a single plastic bag to decay. We are happy that Tanzania is among the very few African countries to ban the use of plastic bags and we will work hard …

The International Fund for Agricultural Development (IFAD) has set aside Ths.127.3 billion ($55.3 million) for funding agriculture projects in the country for three years beginning January 2020.

A State House statement said that IFAD president Gilbert Fossoun Houngbo revealed this on 20^th May 2019 when he held talks with President John Magufuli.

Houngbo who was in the country for a three-day official visit hailed president Magufuli`s government for the strong efforts in implementing various development projects including those funded by IFAD.

He said after setting aside the funds, IFAD is now waiting for the Tanzanian government to indicate key areas for the money to be allocated, noting that he hopes the projects will be implemented since Tanznaia is a peaceful country, and given the way the government has shown its commitment.

In his remarks President Magufuli thanked the international agency for the support and promised that the working …

Towards the June 1^st deadline for the use of plastic bags in the country, the government is in talks with 15 industries that manufacture alternative bags to increase production.

The Minister for Industry and Trade, Joseph Kakunda said in his 2019/2020 ministerial estimates speech that the government welcomes new investors to help raise available alternative shopping and wrapping material.

Environment friendly bags can be made from easily available raw materials like cotton and sisal, among others, in like manner as baskets and straw bags of various sorts.

Mufindi Paper Mills is one among industries instructed to produce substantial amounts of paper bags to meet the demand, he said.

The minister asked the legislature to approve Tshs.100.3 billion ($43.6 million) for the financial year whereby Ths.48.8 billion ($21.2 million) meets the recurrent needs while Tshs.51.5 billion ($22.3 million) is used for development purposes.

The government has taken various strategic steps …

The country`s coffee production is projected to dwindle by 23 per cent in the 2019-2020 season.

Africa`s fourth biggest coffee producer, Tanzania said the overall production in coffee would drop by 23 per cent in the next period due to delayed rainfall in the Northern regions, according to the Tanzania Coffee Board.

The crop for the season that starts in July may decline to 50,000 tonnes, the Tanzania Coffee Board stated on Monday 13^th May, 2019 in a statement. It said last month that the country had experienced dryness in many growing areas, and that farmers would start collecting crops in May in the Kagera and Mara regions of the country.

After missing earlier targets to boost production, the country is considering distributing seedlings to farmers in an effort to double supply in five years. Arabica coffee accounts for more than half of Tanzania`s output, and it mainly ships …

The European Union (EU) has reiterated its commitment to continue supporting the government towards achieving its industrialization strategy and middle income status by 2025.

The European Union Charge d`Affaires to Tanzania, Charles Stuart made the remarks on Thursday in Dar es Salaam during the commemoration of the 69^th anniversary since the signing of the Schuman Declaration which marked the birth of the EU.

The occasion was also attended by heads of diplomatic mission in the country, government officials, representatives of Non-governmental organizations (NGOs) and civil society organizations.

He said that Tanzania and the EU have been partnering in ensuring high quality livelihood, peace, stability and unity, good governance, educated and learned society. He mentioned others as a competitive economy capable of producing sustainable growth and shared benefits. He said the above mentioned matters have been worked together since that partnership began.

` Our trade and economic relations are maturing …

South Korea has managed to maintain its first position on 2018 Bloomberg Innovation Index for the fifth consecutive year.

The 2018 Bloomberg Innovation Index results published on January 22, 2019 which compiles the index based on data from sources including the World Bank (WB), International Monetary Fund (IMF) and Organization for Economic Co-operation and Development (OECD), credits South Korea`s top ranking to Samsung. The electronics giant is South Korea`s most valuable company and has received more US patents than any company other than IBM since the start of the millennium.

This innovation trickles down the supply chain throughout South Korea`s economy. It was divided into seven assessment categories namely, research and development (R&D), manufacturing, Hi-tech density showing the number of domestic high-tech companies, tertiary efficiency showing the total enrollment in tertiary education, research personnel and activity showing resident patent filings, total patent grants and patents in force per million population.…

Tanzania`s vast geographical boundaries and mobile phone penetration among its demographics have attributed to a shift of many Tanzanians from traditional cash transactions to emerging mobile payment solutions.

Mobile solutions are being used to send money home, facilitate informal business transactions, pay bills, or buy pre-paid electricity. Notably, low-income people, especially in the rural areas, find value in remote digital payment solutions.

According to the second National Financial Inclusion Framework 2018-2022 (NFIF2), mobile payment solutions have contributed to an increasing number of adults in the formal financial systems, from 58 per cent in 2013 to 65 per cent in 2017.

The framework further asserts that the combined efforts between the government and the private sector are a main factor for the upsurge in financial inclusion.

The World Bank also maintains that the inclusion of people in the formal financial system will enable communities, especially businessmen to access financial services with …

Less than a fortnight after a thousand visitors from the Middle East toured Tanzania, the country has just received the first batch of expected 1,000 tourists from the Far East.

Landing at the Kilimanjaro International Airport (KIA) on Sunday 13^th May, 2019 evening, more than 350 tourists from China kicked off their itinerary by sampling Northern Zone attractions, including the Ngorongoro crater and Serengeti National Park.

They were received at the airport terminal by the Prime Minister, Kassim Majaliwa, who described the entourage as yet another indication that Tanzania is becoming a lucrative destination for visitors and investors from overseas.

The 10,000 visitors from China will be touring Tanzania through the `Tour Africa – New Horizon` program coordinated by Touch Road International Holding Group, which in addition to opening doors for tourists from the Far East, is hatching a new initiative where some visitors are going to identify potential …