Browsing: Samia Suluhu

• Tanzania has signed an energy deal to export natural gas
• Tanzania’s 4th energy summit to open new investment options
• Tanzania allays environmental concerns over offshore energy works

Following the success of the previous Tanzania Energy Congress (TEC), the organisers will now host the 4th TEC edition in Dar Es Salaam from 3 – 4 August 2022.

The two-day summit comes against the backdrop of the just signed liquefied natural gas (LNG) deal between the Tanzanian government and several international energy companies.

This June, Tanzania signed an agreement with Norway’s Equinor and Britain’s Shell to start construction of a $30bn project to export liquefied natural gas (LNG) from the East African economic giant.

In the wake of the signing, stakeholders are looking to discuss the opportunities that will arise from the deal. No other get-together will bring more stakeholders to one venue to discuss the pros and cons of this …

The 1,443km EACOP pipeline has been constructed at a value of US$3.5 billion which has seen Tanzania effectively increase its FDI by over 60 per cent during the construction phase alone.
This week, Tanzania President Samia Suluhu is in the United States and is meeting with among others, US VP Kamala Harris. During the official business trip, Suluhu is expected to get contracts for the construction of ports, railroads, power plants and coal and iron ore mines in the country’s northeast region.

Overall, Tanzania is looking to attracting investments of US$40 billion in the energy sector at a time the world is caught up in the melee between Russia and Ukraine which has upset the global energy sector.

For Tanzania to benefit from Europe’s rush to diversify its energy sources, Suluhu needs to speed up LNG projects by opening up the sector to new investors and revising legislation to achieve …

As would be expected, Total rebutted the claims. Its first move was to make public the related project social and environmental studies and issue a statement in which it pledged transparency.

The company admits that; “The projects for the development of the oil and gas resources of the Lake Albert region and the cross-border pipeline are situated in a sensitive social and environmental context that requires special measures for the environment and the rights of the local communities.”

In a follow-up statement, the investors maintained that; “All the partners are committed to implementing these projects in an exemplary manner and taking into highest consideration the biodiversity and environmental stakes as well as the local communities’ rights and within the stringent environmental and social performance standards of the International Finance Corporation.”…

In 2018, the global textile industry’s worth stood at approximately $920 billion. The global Textile Market Analysis of 2021 to 2028 anticipates that the market could reach $1,412.5 billion by 2028.

The market drivers include the rise in consumer awareness, e-commerce platforms to support sales, and the fast-changing fashion trends in the industry.

The CEO of Basra Textiles, Ahmed Othmad, said on January 11 that the factory at Chunguni area in Zanzibar was targeting to export to markets across East and Central Africa.…

Tanzania Telecom charges:

Tanzanians are forced to reach deeper into their pockets as the government has increased the cost of performing mobile money transfers. Effective July of this year, Tanzania’s have seen the cost to send or withdraw money shoot up to the roof.

The government, through parliament past a bill to hike the charges arguing the extra tax is needed for national development projects. The government amended the Electronic and Postal Communication Act (CAP 306) a move that allowed it to impose a levy of on mobile money transactions depending on the amount sent and withdrawn.

At 17 per cent, Tanzania’s excise rate on mobile phone services is the second-highest in Africa, second only to Zambia.

The amount is an increase from the earlier 14.5 per cent that was raised back in 2014. At that time it was explained that the levy increase was meant to compensate the government …

There is need to rebrand Africa, to give it a better, truer image or in the words of the President for the African Development Bank (AfDB)) Dr Akinwumi A. Adesina to change the narrative on Africa to attract increased investments into the continent.

Granted the head of AfDB specified the Africa rebranding be specific for the USA but the idea stands true in general, the World needs to see Africa differently. The assertion comes ahead of the upcoming “Africa Investment Forum 2021.’

To be held this December (1-3), the event is one of the biggest flagship initiatives of the African Development Bank that is designed to attract billions of dollars in investment for strategic development projects across the continent.

“The annual forum has come to be an invaluable platform during which the Bank successfully attracts critical investment for the continent’s infrastructure, agriculture and health care system needs among others, especially …

The government of Tanzania has received 1.3tri/- as Covid-19 relief package from the International Monetary Fund (IMF). Now the government has announced plans to implement a score of projects that will be financed with this fund in a move it says, will help the private sector’s liquidity.

As part of its own fiscal policies to cushion the economy from the negative effects of the global pandemic, the government, through the Central Bank has also released another 1tri/- to commercial banks in a bid to increase their lending capacity.

With these funds, the Central Bank released funding and IMF funding that goes into implementing national projects, the private sector is empowered to borrow and win project tenders and as such increase money circulation in the economy.

The strategy is meant to back the economy which had slowed down due to reduced demand which in turn reduced produced production stagnating the whole …

After major reforms that rocked its mineral and energy sectors less than a decade ago, mineral and energy-rich Tanzania is again doing an overhaul of the two sectors, this time not to short leash investors but rather, to ‘rebuild broken bridges.’

A key area that is slotted for a facelift is the very lucrative Liquefied Natural Gas (LNG) sector which the country’s new Energy Minister January Makamba shortlisted as a sector of much interest that is yet to meet its full potential.

The sector minister was firm, change is coming to the sector and since charity begins at home, for starters, the board of the country’s government-owned power supply monopoly the Tanzania Electric Supply Company Limited (Tanesco) has been ‘gassed out’ and a new board brought in to breathe fresh air to the ailing entity.

Announcing the new board mid this month, the minister said; “We just started with Tanesco …

Transport infrastructure is vital to developing countries because efficient and reliable transport networks are critical for local and international trade.

Transportation infrastructure, such as roads and railway systems, is one of the sectors most threatened by climate change. Extreme weather events such as flooding, sea-level rise, and storm surge have repeatedly wreaked Havoc on transport networks.

In Africa, extreme weather is a threat that can cause extensive structural damage. It can also accelerate the aging of infrastructure components which can lead to significant financial losses.

For instance, a recent report on Tanzania uncovered the vulnerability of the country’s transportation systems. Long stretches of road and rail networks are exposed to extreme flooding events, with growing exposure in the future.

The report estimated that worst-case disruptions to Tanzania’s multi-modal transport networks could cause losses of up to US$1.4 million per day. In addition, damage to these networks can disrupt the flow …

In what has been christened her first official state visit, Tanzania President Samia Suluhu Hassan has today begun her two day visit to neighbouring Kenya.

The visit is considered her first state visit and not her recent trip to Uganda, which was more of a ‘business trip’, meant to but sign the multi-billion-dollar oil pipeline deal and not a diplomatic visit to discuss diplomatic relations and economics.

The highly anticipated visit is expected to strengthen diplomatic ties as well as iron out economic creases that the two countries had wrangled themselves in over the course of the past few years.

The trip comes as a fulfillment of President Samia’s pledge to parliament that her administration will without fail ‘restore and improve economic diplomacy with partners in the region and across the world.’

The visit is also seen as part of the president’s move to attract investors, a goal that needs …