Browsing: President Samia

• President Samia strikes deal to increase volume of meat export to Saudi Arabia.
• Tanzania meat export segment is often undermined by quality, which is attributable to pests and diseases, a challenge the nation seeks to fix by rolling out mass livestock vaccination campaign.
• At least three Saudi Arabian companies plan to invest in Tanzania’s livestock, and fodder production sub-sectors.

Tanzania is rolling out livestock vaccination campaign as part of a raft of measures geared at enhancing the quality and volume of meat export. Although the East African nation boats of the third largest livestock herd in Africa, the quality of meat export is often hampered by persistent pests and diseases.

“We want every livestock keeper to vaccinate, and we will develop a specific vaccination schedule for each livestock disease,” said Livestock and Fisheries Minister Abdallah Ulega.

Policymakers in Tanzania seek to triple meat export by 2030 a goal that is …

Contrary to her predecessor, President Samia’s pro-business approach has yielded impactful results, paving the way to a prosperous investment journey for Tanzania. President Samia’s administration spent the first year and ten months dealing with various drawbacks that hurt the nation’s ability to market its investment potential to the world.

The government of Tanzania has done away with an unfriendly taxation system, complexity in issuing work permits to foreigners, and trade setbacks. Consequently, Tanzania’s pro-investment approach caught international economic analysts’ attention, including global credit rating, research and data, and Moody’s.…

• Tanzania hosts World Bank Group Human Capital Project (HCP)
• President Samia announces national efforts to increase youth employment
• Africa suffers the lowest learning poverty in the world

It is now three years since the World Bank Group launched the Human Capital Project (HCP) in 2018, and Tanzania is making the best of the initiative.

Let’s first look at the World Bank Group’s intentions under the Human Capital Project (HCP) and then see how Tanzania intends to lead the rest of Africa in the implementation of the project. The HCP is a global effort to “accelerate more and better investments in people for greater equity and economic growth.”

The HCP is an initiative by the World Bank to help countries increase employment and employability of their workforce.

Since its launch in 2018, the initiative now has some 87 members. On July 25, Tanzania hosted the launch of the Africa Heads of …

• Hard work pays – at least for strategic tourism markets such as Tanzania, which stands to become one of the world’s top destinations. Tanzania’s tourism industry emerged strong from a slump triggered by the Covid-19 pandemic.
• Over the past years, a number of top-rated tour firms and sites such as Trip Advisor, Safari Bookings, Visa First, and Craft Travel – have painted Tanzania as one of the most favorable tourist destinations in Africa.

Tanzania is now placed in the same league as South Africa, Africa’s most desired destination by tourists belonging to the Luxe Traveller Club. With iconic Mount Kilimanjaro, the Serengeti National Park and Ngorongoro Crater are some of the leading tourist attractions across the world among its offerings, you don’t have to look far to understand why.

“I was fortunate to stay at the Ngorongoro crater lodge, a stunning five-star hotel, probably one of the best in Tanzania …

• More than $33 million was poorly spent by various Tanzania government institutions including through inappropriate allowances to staff, audit shows.
• Lugalo Hospital, an institution belonging to Tanzania’s military, paid over $14,000 to a supplier for consultation and design without charging withholding tax.
• Corrupt officials in Tanzania’s Ministry of Health paid over $8 million to Toyota Tanzania and UNICEF for the purchase of motor vehicles that were never delivered.

Tanzania could be hurtling towards a fiscal risk as an increasing number of loss-making state-owned enterprises turn into avenues for plunder and embezzlement of public funds by corrupt public servants.

The latest audit report by the Controller and Auditor General (CAG) and Prevention and Combating of Corruption Bureau (PCCB) shows hundreds of state-owned enterprises in Tanzania are in the soup for sanctioning graft-ridden transactions leading to the loss of millions of public money.

The rot starts from the top. Take for instance, …

• Trade between China and Tanzania grew by 23.7% year-on-year, reaching US$8.31 billion in 2022
• China pledges increased cooperation under its Global Development Initiative
• As of 2022, trade volume between China and Africa reached US$282 billion dollars, an 11.1% year-on-year growth.

China-Tanzania relations can be measured in growing trade portfolios and can be seen in Chinese President Xi Jinping’s choice to make Tanzania the first African country to visit when he came into power in 2013.

Not only was Tanzania President Xi’s first African country to visit but his first overseas trip since assuming the presidency.

In his speech 10 years ago, delivered at the Julius Nyerere International Convention Center which was built with Chinese assistance, President Xi cemented relations between the two long-term friends and partners.

In his speech titled; “Be Trustworthy Friends and Sincere Partners Forever,” President Xi emphasized the principles of sincerity, goodwill, good faith, and pursuing the …

• Saudia Airlines launches direct flights to/from Tanzania
• Saudia Airlines direct flights to Tanzania less than 5 hours
• According to the Tanzania Civil Aviation Authority, the number of international travellers to Tanzania increased by 55 percent in 2022

Saudia Airlines on Sunday 26th March made its maiden flight to Julius Nyerere International Airport (JNIA) in Dar es Salaam, Tanzania, cutting travel time and reducing travel costs to the Kingdom by more than half.

This inaugural flight by the Saudi Arabian carrier marked the start of direct flights to and from Jeddah to Dar es Salaam four times a week. With the commencement of these direct flights, travel time between the two countries has been cut down by more than half.

Before the Air Saudia direct flights, passengers had to endure a flight time of up to 10 hours. Now, the same distance will be covered in only 4 hours and 40 …

• US Vice President Kamala Harris pledges increased US trade with Tanzania
• This visit by VP Harris is expected to encourage US investment in Tanzania through trade, which already the office of the Vice President has pledged to do.
• US Lifezone Metals to set up second cobalt, nickel refinery plant in Tanzania

The trip to Tanzania by US Vice President Kamala Harris is already bearing fruit with the US announcing plans to increase trade with the country.

Air Force 2 landed in Tanzania late Wednesday where the US second in command was received in a colourful ceremony at the Julius Nyerere International Airport (JNIA) in the commercial port city of Dar es Salaam.

Her host, Tanzania president Samia Suluhu Hassan who was herself Vice President less than two years ago, hosted Vice President Harris at the State House fondly known in Swahili as Ikulu. Vice President Kamala Harris is in 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 …

• According to the US review has maintained a solid macroeconomic foundation, sound fiscal policies, and rich natural endowments.
• The report credits Samia’s administration for its ‘strong regulatory framework, sound macroeconomic fundamentals and creation of a vibrant financial market.’
• the US recognizes Tanzania’s favorable investment policies under president Samia Suluhu Hassan.

Tanzania’s President Samia Suluhu Hassan promised reforms to improve the country’s business climate when she came into power in 2021 and singled out attracting foreign investment as a key priority. Suluhu’s shift in policy to attract investment will be part of the discussion with US Vice President Kamala Harris who visits the country this week as part of a three-state visit by Harris.

“This commitment to increasing investment has continued throughout her tenure and economic issues remain at the forefront of the administration’s policies, strategies, and goals,” notes the U.S. Department of State.

Absa Bank Africa Financial Markets Index 2022 …