Browsing: President Samia

• 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 …

• Tourism is one of key economic sectors championed by President Samia
• At present the economy stands at 5.2 per cent
• President Samia’s administration is pinning its efforts against the backdrop of the FYDP 2021/22-2025/26

Her Excellency, President Samia Suluhu Hassan, Tanzania’s 6th president, has the same dream as her predecessors did – that of making Tanzania a prosperous African powerhouse.  

Tanzania is not new to the ins and outs of development. It has demonstrated to the entire world it is up for a fight towards ascending to the top.  

In July 2021, the World Bank (WB) upgraded Tanzania’s economy from low to lower-middle-income status, indicating that Tanzania means business. 

Since President Samia took office, tackling investment hurdles, improving economic diplomacy and building joint efforts to achieve Tanzania’s development goals have rocketed her administration.  

Numbers pivot towards describing how Tanzania has worked hard to stay stable and relevant in the …

• President Samia has doubled down on business and investment in Tanzania
• Tanzania has adopted a new tone towards foreign direct investment
• Tanzania is striving to become the best tourism hotspot in Africa

As a lower-middle-income country, Tanzania is putting in a considerable amount of work to build itself towards attaining its industrial revolution objective.  

The industrial driven economy mission and energy inspired by the late President John Magufuli has spilt over to the incumbent presidency – under Samia Suluhu Hassan.  

Over the past six years, Tanzania has taken tremendous steps towards achieving its primary objectives, including upgrading its economic status, which was done swiftly and within time. 

With the entire globe faced with uncertainty propelled by the COVID-19 pandemic, Tanzania has remained relatively stable and accommodative to crucial sectors of the economy, such as banking by improving money supply and credit, information and communication, as well as agriculture. 

Despite inflation …

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 …

Tanzania is yet another country making a series of moves within the realms of the economy. At the moment the sixth President of Tanzania, Samia Suluhu Hassan is laying another foundation on top of the late John Magufuli presidency’s legacy, which was cut short before it took off for a major portion of its second term. 

Earlier in April Tanzania and Uganda managed to strike a victory on the crude oil pipeline project that had stalled. In effect, President Hassan managed to pass another crucial item left by Magufuli’s presidency forward. …