Browsing: President Samia

• 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 …

• The government of Tanzania is looking to make the country cooking oil self-sufficient by 2025, that is in just two years.
• ASA reports that it has 13 farms covering a total area of 16,588 hectares, but unfortunately, of these, only 12,731 hectares are suitable for farming.
• The deficit costs the country US$ 250 million every year in palm and other edible oil imports.

Tanzania is short of 650,000 metric tons which is over 60 percent of its requirements plugged by imports. Now the country wants investors to close this gap.

Speaking recently to farmers in South Tanzania, Prime Minister Kassim Majaliwa challenged local and foreign investors to see this demand gap as an investment opportunity.

The deficit costs the country US$ 250 million every year in palm and other edible oil imports, making the edible oil sector, the second-highest foreign exchange earner by the value of transactions.

“However, the government …

• U.S.$304.93 million will go to supportive programmes in sustainable rural water and sanitation
• 300 million US dollars is the International Development Association (IDA) concessional loan
• Another US$ 25 million is also part of the grant money, but this time from the Global Financing Facility for Women Children, and Adolescents Multi-Donor Trust Fund.

Tanzania is to receive U.S.$ 550 million in a concessional loan to improve its Maternal and Child Health programme.

The World Bank loan comes along with a side package of U.S.$ 29.93 million in grant money, the government has reported.

Finance Minister, Hon. Mwigulu Nchemba issued a statement to media specifying the funds’ planned disbursement as follows: U.S.$304.93 million will go to supportive programmes in sustainable rural water and sanitation and U.S.$275 million will go directly to maternal and child health programme.

Of this money, 300 million US dollars is the International Development Association (IDA) concessional loan and …

• The tripling of investment in 2022 is a statement to the world that the East African nation is open for business.
• The success is a straightforward strategic plan from President Samia’s administration since she assumed office in March 2021.

Tanzania Investment Centre (TIC) records show that the year 2022 has made the statement ‘Invest in Tanzania’ hold water. Over the past months, several activities have echoed across multiple fields, including manufacturing, transportation and tourism.

TIC records show that from July to November 2022 there was an increase of 22.2 percent in investment projects (132 registered projects) compared to 102 projects registered during the same period in July to November 2021.

In October, the American firm Moody’s Investors Service changed its status on Tanzania’s outlook from stable to positive, noting that political risks have declined under President Samia Suluhu Hassan’s administration, which concurrently promotes economic development and strong diplomatic ties.

Tanzania’s …

The government is already working on all issues facing Dangote’s factor on President Suluhu’s directives. This means Tanzania is reshuffling its strategies and operations along the investment lines, to keep up with the rest of the region far ahead of her.

As a country that graduated to a low-middle-income level much more effort towards building sound and attracting an investment environment is required.

The current small achievements prove that there is more coming from President Suluhu’s administration in terms of advancing more foreign investment in the country.…

• The Royal Tour documentary features the respected US travel journalist Peter Greenberg
• President Samia drove a manual gear vehicle for the first time in ten years
• The documentary is slated to be viewed on Apple  TV Plus and Amazon Prime

Tanzania’s tourism industry is targeting to improve visitor numbers after President Samia Suluhu Hassan launched the anticipated Tanzania Royal Tour documentary in New York on Monday.

President Suluhu Hassan’s Royal Tour is yet another milestone executed to enhance tourism in Tanzania. The documentary titled, Tanzania: The Royal Tour, is a series of global television events hosted by Peter Greenberg with President Suluhu Hassan as his exceptional guide—who exposes the rich nature of her nation’s tourism via her leadership eye.

During the premiere of the documentary, President Suluhu Hassan took the liberty to assure millions of potential tourists once again that Tanzania is the best place to spend their vacation, “We …