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Browsing: President Samia LNG Gas
- Tanzania President Samia is commended for rebuilding investor confidence
- Tanzania now enjoying improved regional relations with EAC members
- President Samia pushes to fast track Tanzania’s national development projects
From pushing Covid-19 vaccination campaigns to rebuilding investor confidence, Tanzania’s first female president, Samia Suluhu Hassan is making headlines as an economic focused president with a vision of prosperity.
If the recent visit by the African Development Bank Group (AFDB) President Dr. Akinwumi A. Adesina is anything to go by, President Samia is positioning Tanzania to achieve its socio-economic development vision.
Ahead of her State tour to France and Belgium where she among other things attended the One Ocean Summit on global action against pollution of marine life, President Samia hosted the President of the African Development Bank Group, the lead African funding instrument.
The visit by AFDB President Dr. Akinwumi A. Adesina was very symbolic and it among other things …
“The change of tone ushered in by President Samia Suluhu Hassan over the last month could indicate a welcome to a whole new economic direction in Tanzania’,” remarked Peter Leon, Partner and Africa Co-Chair, Herbert Smith Freehills
Investors have been wary of dipping their feet in Tanzania’s investment pool, more so investors in the extractive industries. In March 2017, a total ban on the export of unprocessed mineral concentrates and ores was instated.
Just four months later, in July 2017, after six days of deliberation, three new laws assented. The new laws gave significant power to the government, empowering it to control the extractives sector autonomously.
The three laws that were altered are:
- The Natural Wealth and Resources Contracts (Review and Renegotiation of Unconscionable Terms) Act, 2017 (Unconscionable Terms Act);
- The Natural Wealth and Resources (Permanent Sovereignty) Act, 2017 (Permanent Sovereignty Act); and
- The Written Laws(Miscellaneous Amendments) Act, 2017 which