Author: The Exchange

Dar es Salaam based GSM group of companies, is set to launch its biggest furniture store dubbed ‘GSM HOME’, aimed at addressing the existing gaps in the market in supply of wide range of good quality furnitures. Occupying about 1,200 square feet space, the new store is located along Mwai Kibaki road in Mikocheni B area and is expected to cater for growing needs of office and home furniture in the country. Speaking at the company headquarters in Dar es Salaam, GSM group of Companies Chief Commercial Officer Mr. Allan Chonjo said, the plan to unveil the new store has…

9thGlobal Islamic Microfinance Forum (GIMF) will convene in Lahore – Pakistan on 11th – 13th December, 2019 under the theme of “Evidence of Impact and Financial Inclusion” to explore and discuss innovative financial inclusion strategies that can create clear pathways to poverty alleviation. This Apex event is organized by AlHuda CIBE in Association with Akhuwat and Sponsored by Islamic Corporation for the Development of the Private Sector- ICD. ICD is one of the premier Islamic multilateral financial institution for the development of the private sector. More than 20 countries will be participating in this prestigious event and around 25 international…

Tanzania’s leading digital lifestyle company, Tigo Tanzania, has today introduced the first most affordable 4G phone with the aim to provide 4G internet for everyone in Tanzania. The 4G enabled smart feature phone dubbed “Kitochi 4G Smart”will retail at $21 and comes with applications such as Facebook, WhatsApp, Twitter and YouTube. Speaking during the launch, Tigo Tanzania’s Chief Commercial Officer, Tarik Boudiaf, said, “As the pioneers with the biggest 4G network in Tanzania since 2014 we are breaking yet another barrier to enable and avail everyone with the most affordable 4G phone to be part of our fast-growing digital family.…

Plans to construct the first state-of-the-art Kigali Central Sewerage System plant by 2022, could leave investors in Rwanda will a less burden of a requirement to construct individual sewerage systems underneath structures. Construction of all commercial housing projects in Kigali city have been required to build their own septic tanks or mini waste treatment plants which is costly in construction and daily maintenance with the latter requiring foreign expertise. “With the new central system we may not require investors to build their own systems, because the current network will be connected to the central system. This option is possible and…

The Doing Business 2020 study shows that developing economies are catching up with developed economies in the ease of doing business. Still, the gap remains wide. An entrepreneur in a low-income economy typically spends around 50 per cent of the country’s per-capita income to launch a company, compared with just 4.2 per cent for an entrepreneur in a high- income economy. It takes nearly six times as long on average to start a business in the economies ranked in the bottom 50 as in the top 20. There’s ample room for developing economies to catch up with developed countries on…

President Vladimir Putin hosted the first-ever Russia-Africa summit Wednesday and Thursday in the latest display of Moscow’s efforts to restore its geopolitical foothold on the continent after the fall of the Soviet Union. Amid a deluge of memoranda of understanding and cooperation agreements, Russia clinched a series of trade agreements with some of the 55 African countries represented at the summit in Sochi. Below is a list of military, energy and other deals made between Russia and African countries at the inaugural summit: Military and politics: — Russia signed a contract to supply 12 Mi-35 Hind E attack helicopters to…

More than 50 African leaders made their way to the Black Sea resort city of Sochi on Oct. 23-24 for the inaugural Russia-Africa summit. The summit is widely seen as a reflection of Russia’s push for economic and military influence in Africa. More than 3,000 delegates from African countries and Russia are at the summit to discuss everything from nuclear energy to natural resources extraction. All 55 African states sent a representative to the meeting, including 43 heads of state or government, according to Kremlin advisor Yuri Ushakov. “We currently export to Africa $25 billion worth of food — which is more…

There is no denying that we are at a digital age where information can be accessed by anyone at any place thanks to the advancement of science and technology. We also see that most problems in society are also solved through technology. This has created an opportunity for young entrepreneurs to innovate and come up with different solutions to solve these problems. In Africa there has been a rise of millennial startups that are digitally-based commonly known as ‘apps’ that have been revolutionizing how we solve our daily challenges. From the inception of M-Pesa to food delivery apps, these all…

Recently, there has been a widespread recognition towards agriculture as an engine of growth and poverty reduction in developing countries.  Yet the sector keeps under performing in many parts of our continent and other developing countries. Globally, women produce 50% of global food products and comprise, on average, 43% of the agricultural labour force in developing countries according to FAO statistics. In African countries, according to the UNDP, the economic and social discrimination against women actually costs Africa USD 105 billion a year or 6% of the continent’s annual Gross Domestic Product(GDP). In Tanzania, agriculture is a principal source of…

Stanbic Bank Tanzania has announced their support for the third Tanzania Oil and Gas Congress that will take place in Dar es Salaam between the 2nd and 3rd October, 2019 at the Julius Nyerere International Convention Center (JNICC). “It’s an honour to participate and attend the congress as a panellist, Stanbic Bank is excited to be part of conversations that will further the oil and gas sector and the development of Tanzania’s economy”, said the bank’s Head of Oil and Gas, Mr. Elias Ngunangwa.” Stanbic Bank Tanzania has vast knowledge, expertise and experience in advising and arranging capital for projects…