Browsing: Samia

Tanzania President Samia Renewable Energy ambition

Tanzania is now executing several energy projects, including the East African Crude Pipe Line Project (EACOP), which brought several international attention fighting its realization.

The widely followed meeting is occurring in the continent for the fifth time and attracting thousands of participants engaging in serious conversations that might lead to the realization of climate targets.

The 27th meeting of parties calls for moving from negotiations (which occurred in COP26) and “planning for implementation” for all these promises and pledges made (United Nations -UN).

As Samia presents the ambitious deal on behalf of a dozen southern African nations – the pressure lies upon the developed economies to jump in and support the common cause.

The EABC noted that foreign direct investments from the US. to Tanzania stood at US$1.5 billion in 2019, a 5.2 per cent increase from 2018. Tanzania is followed by Kenya – which received US$353 million in the same year – followed by Uganda US$42 million, Rwanda (US$11 million) and Burundi, which managed to attract US$1 million in the same year (2019).

Tanzania has managed to secure the US. as a development partner and as a viable investment in potential sectors such as mining and agriculture. President Samia has worked to give the investment landscape 180 shifts, particularly enhancing the domestic and international confidence in Tanzania’s business climate.

Over the past years, agricultural produce, minerals and textiles have covered most of the goods exported to the US. However, there are other avenues of potential investment in Tanzania, especially in oil and gas, real estate, manufacturing and telecommunications.

President Suluhu Hassan has welcomed American investors in her bid to “set the tone for creating the safe lending for investors”.

By 2021, Tanzania led in East Africa in the number of FDI attracted from the US to Tanzania, followed by Kenya and Uganda.

Over the past years, there was deterioration in Tanzania’s business and investment sector that marred the nation’s attractiveness.

The latter brought Tanzania to rank 141 out of 190 countries on the 2020 World Bank Ease of Doing Business Report, which the International Trade Administration argued to be the lowest among the nation’s peers.

Hence, President Suluhu Hassan’s administration is addressing the latter. Her government has now substantially improved cross border trading with its neighbouring nations, dealing with unrealistic taxes, unnecessary bureaucracy, delayed refunds and unfriendly administration of taxes.

While in France, President Samia attended the One Ocean Summit in Brest. The three-day summit discusses ocean safety and actions against the threats to the ocean. Among other things, initiatives launched at the summit aim to protect the marine ecosystem and develop sustainable fisheries.

The initiatives seek to fight pollution particularly from plastics as well as to respond to the impacts of climate change and to advocate for improved governance of oceans.

This State Visit follows last year’s visit to Tanzania by French Minister for Foreign Trade and Economic Attractiveness, Franck Riester, who visited the East African economic hub in October  2021.

The Zanzibar government has issued express interest to rent out the more than 50 islets surrounding the main archipelago to investors in the marine tourism sectors as well as the catering and hospitality sectors to invest in eco-friendly investment on the islets without compromising on the safety of the ecosystem.

What is envisioned is an investment that will bring foreign exchange to the island yet maintain the pristineness of the environment.

The Covid-19 pandemic has had a devastating toll on the global tourism sector and Tanzania along with the acclaimed tourist destination of Zanzibar are no exceptions. According to the latest EABC report on the impact of Covid-19 on selected sectors, the East African Community (EAC) tourism sector has lost a shocking two million jobs between last year and this year August.

The report looked at key sectors including the Tourism & Hospitality Industry and the results are shocking if not downright appalling and calling for some kind of drastic action to resolve the situation. So when the out of work tour guide says she has no job she is only one of 2 million people out of work from the tourism industry in the EAC.