Author: The Exchange

• The inclusion of the Oman JSRS eMarketplace (JeM) in this year’s Tanzania Energy Congress signals strengthening economic ties between Oman and Tanzania-Zanzibar.
• Oman, with its vast expertise in oil and gas, finds a promising partner in mainland Tanzania and the Zanzibar Island.
• By showcasing suppliers certified by Oman’s Ministry of Energy & Minerals’ Joint Supplier Registration System, digital platform JeM offers a golden opportunity for Tanzanian companies to interact with their Omani counterparts.

In the heart of East Africa, a significant event is unfolding that promises to reshape the energy landscape of the region. The 2023 Tanzania Energy Congress, scheduled for September 20-21 in Dar Es Salaam, is not just another conference. It’s a testament to the growing synergy between Tanzania-Zanzibar and Oman, two nations with a shared vision for a sustainable energy future.

A Meeting of Minds and Markets

The inclusion of the Oman JSRS eMarketplace (JeM) in this …

• Forex trading apps are playing a significant role in the democratization of the financial world.
• They are enabling individuals worldwide to participate in the global forex market directly from their smartphones.
• Profits from forex trading can be reinvested in local green projects, further stimulating economies.

Sustainability has become a central focus in both economic development and the rapidly evolving world of financial technology (FinTech). This shift marks an important step in addressing the global environmental crisis, while also boosting the economy in developing nations. Interestingly, emerging tools such as the forex trading app play an intriguing, albeit indirect, role in this pursuit of economic and environmental progress.

The crux of the sustainability-FinTech fusion rests on two main factors. The first is the increased ability to gather and analyze environmental, social, and governance (ESG) data. By leveraging big data analytics and artificial intelligence, FinTech platforms can provide a more comprehensive and …

It all started with a Tweet which called out on Elon Musk to come and invest in Tanzania to which Musk responded that Starlink is soon coming to Tanzania and that they are just waiting for government approvals. The Minister for Information, Communication and Information Technology, Honourable Nape Nnauye, responded to Elon Musk’s twitter stating that the application was already reviewed and that Starlink was to meet some requirements that were outstanding.

Twitter Tanzania went wild! Everyone was scurrying to welcome Elon Musk’s investment in Tanzania and wondering why it was taking so long. The star effect of Elon Musk is undeniable however, regulatory officials need to look past the stardom and look at the merits of the investment.

Starlink is a satellite internet constellation operated by SpaceX providing satellite Internet access to most of the Earth. The constellation consists of about 2000 satellites and the number is growing. …

The Annual Investment Meeting (AIM) will be holding its 12th Congress in Abu Dhabi during May 8-10, 2023. This is in response to the rapidly shifting global climate. This year’s conference theme is “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity.” The conference is being sponsored by the Ministry of Industry and Advanced Technology of the Government of the United Arab Emirates.

The global economic order is changing toward emerging countries, people, and economies that have the potential for enormous growth. AIM 2023 will serve as a launching pad for African nations during this time.

Since its inception, the Annual Investment Meeting has established itself as a leading investment platform in the Middle East. Its mission is to ignite positive transformation by creating investment opportunities, upholding solidarity and developing economic relations among nations, and addressing the global challenges that will profoundly impact economic …

After a substantial decline in 2021, Mozambique’s GDP is expected to recover to 4.5% at the closing of 2022 and potentially expand to 5.1% in 2023.  The impact of the Covid-19 pandemic, extreme climactic events and jihadist insurgency in the north of Mozambique were the driving factors of the contraction in the economy.

As a consequence of violence in the northern gas-rich province of Cabo Delgado, French energy firm TotalEnergies, declared force majeure at its Area 1 site in May 2021, after an attack on a nearby town. Several mines and other businesses in the province have also suspended operations following recent attacks.

Over the course of 2022, the prospects of the TotalEnergies improved, owing to territorial gains made near the site.  The decrease in insurgency and piracy has been seen as a major setback for rebels. The progress on security is thankful to a combined military intervention from defense …

Describing the signing of the five memorandums of understanding, Dawood Al Shezawi, Chairman of the Organizing Committee of the Annual Investment Meeting, stated that the MOUs come in the context of the ongoing efforts made by the Annual Investment Meeting to implement that strategic plan into real-world results that will encourage direct and indirect investment and drive sustainable development.

The Annual Investment Meeting (AIM) is an initiative of the AIM Foundation, an independent international organization fully committed to empowering the world’s economy by boosting effective promotion strategies and facilitating opportunities for economic productivity and expansion.

The Foundation also undertakes the operation and management of the AIM Global Investment Network and its 15 affiliated Business Groups, including the supervision of the Annual Investment Meeting Global and Regional Chapters.…

According to the World Bank, skilled workers enhance the quality and efficiency of product development, production, and maintenance and supervise and train workers with lesser skills. As a matter of fact, countries with well-established TVET systems tend to enjoy lower youth unemployment.

This is because the orientation of TVET coupled with the acquisition of employability skills allows it to address issues such as skills mismatch that has impeded smooth school-to-work transitions for many young people. Lower youth unemployment is key to improving lives and building stronger communities necessary for growth.

There is no doubt that Kenya, Tanzania and Rwanda are leading their East African counterparts in promoting technical skills training in their respective countries.…

East Africa has made huge strides in improving the tourism sector in the bloc. So far, three countries have embraced the Single Tourist visa making it easier for the bloc to market it as a single destination as well as allowing tourists access to all three countries from one visa.

The single tourist visa was introduced in 2014 as a pilot between Kenya, Uganda, and Rwanda. Under the initiative, tourists can choose between a single-country visa or an EAC tourist visa. With the latter, they are allowed to move freely between the three countries for a period of up to 90 days.

In October 2020, the East African Legislative Assembly (EALA) released a report citing the tourism situation in the region.

The EALA noted that certain overriding challenges, including sector underfunding, insecurity, and lack of harmonized policies and laws, need to be speedily addressed to ensure that the sector thrives.…

Today, being an online trader or digital shopper only requires one to have a smartphone, internet connection, a convenient social media platform and some products to sell or to buy.

One of the major hindrances to e-commerce across the world is inadequate online payment systems. In Kenya, however, mobile payment platforms have placed the East African nation at the top of other global economies. For this and many other reasons, Kenya is ranked third in Africa after Nigeria and South Africa, in terms of online shopping volumes, according to an article published in the Daily Nation last year.

All said and done, while you enjoy the convenience of online shopping, doing so comes with risks that can frustrate the modern way of shopping, leaving consumers and dealers vulnerable to the antics of online criminals.…

The Guide mainly covers three key areas – understanding the asset class and where it sits alongside other asset classes, why and how to invest in PEs and an overview of the benefits and risks of investing in PE.

The development of the guide was informed by a market study report that sought to investigate the low uptake of investment by pension schemes.

In Kenya, for instance, PE allocations by pension schemes account for only 0.08 per cent of the total industry assets under management. From a regulatory perspective, there are provisions allowing pensions to invest in PE funds across East Africa (Kenya, Uganda, Rwanda, Tanzania, and Ethiopia).

According to Kenya’s pension regulator, the Retirements Benefits Authority (RBA), though the country has had regulations that provide for diversification of pension funds away from traditional instruments, most pension schemes are still predominantly bond and stock investors.…