Browsing: President Samia suluhu tanzania

• Tanzania signs 161.47 million US dollars to implement Kakono HPP in Lake Zone
• European Union (EU) to chip in additional 35 million Euro for Kakono HPP 
• Kakono HPP will take five years to complete, feature a primary school, health centre

The government of Tanzania has secured funding for the Kakono Hydropower Project (Kakono HPP). The project is in line with the country’s Third Five-Year Development Plan (FYDP III) and aligns with President Samia Suluhu’s plan to foster a competitive industrial economy.

The Lake Zone, in the north-western part of Tanzania, is one of the country’s highest fossil fuel consuming region due to the low coverage by the national electricity grid. The region uses diesel generators making the region expensive for investors and residents.   

Funding a US$325 million power project in E. Africa

Also Read: French Development Agency provides $30 million for African SMEs

With assistance from the African Development Bank …

• Tanzania inflation hits five year high
• Zanzibar bans export of food commodoties ahead of Holy Month
• China reopens market, expected to speed global recovery

Tanzania’s annual inflation rate has hit its highest point in five years clocking 4.9% in January 2023 and at the close of February the rate was no better.

According to the Tanzania Central Bank The Bank of Tanzania (BoT), the prices of food & non-alcoholic beverages went up by 9.9% up from 9.7% in December of last year.

The BoT monthly economic update report showed similar increase in prices across all sectors and indicator that the cost of living in Tanzania has increased drastically. Wit no matching increase in income, this means that the burden of acquiring daily basic needs like food has become worse for Tanzanians.

With percentages in the brackets here are how several sectors are suffering from price increase in Tanzania: Transportation (6.2% …

While ties with Zanzibar and mainland Tanzania are growing with the recent signing of agreements to end double taxation, among other deals, authorities in the United Arab Emirates (UAE) recently announced a Dubai visa ban on 20 African countries.

They include Uganda, Rwanda, Ghana, Sierra Leone, Sudan, Cameroon, Nigeria, Liberia, Burundi, Republic of Guinea, Gambia, Togo, Democratic Republic of Congo, Senegal, Benin, Ivory Coast, Congo, Burkina Faso, Guinea Bissau, Comoros and the Dominican Republic.

“Any applications from the above-mentioned countries will be sent back or cancelled,” the UAE authorities warned trade partner authorities along with travel agents, urging them to reject all related applications.

The reason given for the ban is increased visa term violations by persons from the said countries. The UAE authorities explained that persons from these countries are using 30-day visas to Dubai to stay and work in the country illegally.…

Diamonds maybe forever but gold is the stand of measure for and store of wealth and in this Covid-19 era the  skittish investor is not storing his wealth in cash currency but gold nuggets. It is no wonder, the world’s second largest gold digger Barrick Gold Corporation is planning to increase its investment in Tanzania’s gold mining sector.

Barrick is already Tanzania’s largest gold miner owning three major sites North Mara, Bulyanhulu and Buzwagi mines.

While gold is its main business, the company wishes to go beyond the boundaries of the coveted precious metal and, as Barrick President and Chief Executive Mark Bristow put it, invest in other areas within the country.’ He CEO made the state during a courtesy visit with Tanzania’s President Samia Suluhu at State House.

During the visit, yesterday in the country capitol Dodoma, Barrick’s President Bristow aka ‘Zulu Boy’ briefed the president of state …

Within her first two months in the executive office. With Uganda, President Samia Suluhu Hassan and counterpart Yoweri Museveni inked an oil deal with Total and China’s CNOOC to start the construction of a $3.5 billion pipeline to export Ugandan crude oil to international markets.

Right after that, President Samia went on to Kenya where together with her Kenyan counterpart President Uhuru Kenyatta, she signed a pact to start working on a gas pipeline from Dar es Salaam to Mombasa.

In their subsequent speeches, the two leaders said the gas deal is part of a long-term project to share energy resources. Rebuilding wary diplomatic ties, Tanzania’s President Samia made it clear that the two countries will build more interconnecting infrastructure including roads and rail and that the gas pipeline was but a starting point.

“The Memorandum of Understanding (MoU) on Cooperation in Natural Gas Transportation means the countries’ ministers …