Browsing: Tanzania

• Conservation efforts are helping increase the number of black rhinos in the wild.
• Poaching for ornaments and traditional medicines remains the biggest threat to black rhinos.
• Charity WWF reports that over 6000 black rhinos are in the wild today.

Black rhinos are a major tourist attraction in Tanzania, but they are also a key source of treasured ornaments and traditional medicine for China, despite the fact that the country has banned the trade in ivory.

“The main threat to the black rhino is poaching for the international illegal trade in rhino horn. Most, if not all, horn from Kenya and Tanzania is believed to be shipped to Vietnam and China. In the end-user countries, it is ground and used as medicine for a range of ailments, or carved into jewelry or art or preserved whole displayed for status,” reports the World Wildlife Fund (WWF).

However, for decades now, China has …

• Tanzania has received $149.4 million for budget support from the IMF.
• The lender has commended Dodoma’s ongoing economic reform and diversification plan.
• IMF approves $786.2 million for Resilience and Sustainability Facility (RSF) 

Days after the International Monetary Fund (IMF) ranked Tanzania third on its list of top-performing African economies, its Executive Board has announced an immediate disbursement of about $149.4 million for budget support after completing the third review of the country’s Extended Credit Facility (ECF).

“The Executive Board also approved a 23-month arrangement under the Resilience and Sustainability Facility (RSF) of about US$786.2 million to support Tanzania’s efforts to build resilience to climate change,” the IMF reports.

In its report, the IMF attributed Dodoma’s economic performance to the country’s commitment to economic reform and diversification. The multilateral lender noted that the country is currently focusing on attracting foreign investment, promoting sustainable development, and fostering a favorable business climate.

The …

• AI security is a major concern for African policymakers who are equally grappling with tools to harness the power of the new technology better to drive economic growth.
• Currently, Tanzania and other African countries are formulating AI security measures.
• Countries may not have to look far for guidance as the UK National Cyber Security Center (NCSC) has developed AI security guidelines that Africa can embrace.

AI security guidelines are increasingly becoming popular among developing countries as most African nations move to secure their cyber assets from the increasing threat of attacks. The need for Artificial Intelligence (AI) security comes even as governments and private sector leaders grapple with a myriad of options on how to tap the power of this new technology best to drive growth.

In East Africa, the Tanzania Bureau of Standards (TBS) has announced it is taking proactive steps to develop standards to ensure Artificial Intelligence (AI) …

• Kenya’s private equity deals size are expected to remain modest this year.
• However, despite the high optimism, deal sizes in East Africa are expected to remain modest.
• However, businesses are concerned that firms will be scouting for exits, too.

Kenya and its East Africa peers are confident that the fundraising environment for businesses will continue improving in the next 12 months even as the continent experiences mixed expectations.

New findings by Audit firm Deloitte show that while East and West Africans largely anticipate an improvement, opinions in North and Southern Africa are divided, with some expecting improvements, others predicting stagnation, and some foreseeing deterioration.

This outlook comes against the backdrop of persistent high interest rates, inflation, and geopolitical uncertainty, which led to a 9 per cent drop in finalized funds year-on-year in 2023.

The Deloitte Africa Private Equity Confidence Survey 2024, shows that in East Africa, optimism is on …

• China pledges closer economic and trade ties with Africa at 2024 FOCAC Summit.
• Mulit-million dollar deals signed between Africa and China at key summit.
• Annual trade volume between China and Africa to reach $300Bn by 2035

The just concluded Forum on China-Africa Cooperation (FOCAC) Summit has opened new possibilities for Tanzania and Africa’s industry as a whole. Held in Beijing, China, this ninth summit was attended by all 53 African Heads of State or their representative hosted by Chinese President Xi Jinping.

The FOCAC summit has seen President Xi pledge over $50 billion in aid and loans to support what he described as “Africa’s modernization efforts.” He highlighted key funding areas to include infrastructure and agricultural development over the next three years. Notably, President Xi said this new commitment is in addition to China’s zero-tariff policy that was announced earlier to boost trade volume between Africa …

• China commits to refurbishing TAZARA railway system during the just concluded FOCAC Summit in Beijing.
• China Civil Engineering and Construction Corporation (CCECC) has been awarded the tender.
• TAZARA capacity is now set to increase to two million metric tonnes.

TAZARA, a decades-old China-Tanzania railway that is vital in the East African country’s industry is set for modernization as a new pact to turn it into a fast train transportation system comes into force. Last week, a historic milestone was reached when Chinese President Xi Jinping, Tanzanian President Samia Suluhu Hassan, and Zambian President Hakainde Hichilema signed a Memorandum of Understanding (MoU) to revitalize the Tanzania-Zambia Railway Authority (TAZARA) railway.

The deal, which was reached at the 2024 Forum on China-Africa Cooperation Summit (FOCAC) in Beijing, will see China invest into developing the1,860-kilometer railway connecting landlocked Zambia to Tanzania’s port city of Dar es Salaam.

Work on this trans-Africa rail …

•  Globally, seaweed is increasingly becoming the go-to organic medicine option, and Zanzibar is betting big on this avenue.
•  Already, the East African Island’s government is investing in the commercial growth of seaweed.
• What’s more, Zanzibar and the EU are in talks to develop the Island’s aquaculture sector.

Zanzibar seaweed output is increasingly becoming a viable commercial project as the island is tapping as part of diversifying its economy. Increasingly, Zanzibar is putting emphasis on seaweed farming because the global industry of seaweed is growing very fast, especially due to the discovery of critical medicinal properties.

It is reported that diseases such as cancer, diabetes, inflammation, and chronic cardiovascular are major global health problems that can all be remedied by seaweed.

In a research paper titled “Global seaweed farming and processing in the past 20 years,” it is reported that “currently, the chemotherapy and synthetic drugs are widely used in the …

• Second Indonesia-Africa Forum (IAF) underway in Bali, Indonesia, almost clashing with the Forum on China–Africa Cooperation.
• Zanzibar President Mwinyi woos Indonesia investors to Zanzibar as he eyes a pie of the $3.5Bn in investment deals.
• The forum has, however, attracted far fewer participants from Africa compared to the 2018 meeting.

The Africa-Indonesia Investment Forum 2024 which is currently underway in Bali, Indonesia, is expected to generate a whopping $3.5 billion worth of investments. In attendance is the Zanzibar President and Chairman of the Revolutionary Council, Dr Hussein Mwinyi. President Mwinyi is representing the Tanzanian Union President Dr Samia Suluhu Hassan and is in the company of several other African Heads of State.

Present at this Second Indonesia-Africa Forum (IAF), include presidents from Zimbabwe, Rwanda, Ghana and Liberia among others. This High-Level Forum on Multi-Stakeholder Partnerships (HLF MSP) is been held concurrently with the IAF and has attracted well over 855 …

• The 1,300Km of railway from Zambia to Tanzania will be completed by 2029.
• The US, UK, and others sign MoU to develop the Lobito railway project.
• Top nickel producer Lifezone Metals secures project tender.

Nickel prospects in Tanzania have spurred the US to extend the Washington-backed Zambia-DRC railway project to the East African nation, creating a strategic link between West and East Africa. Helaina Matza, the US acting special coordinator for the Partnership for Global Infrastructure and Investment has announced US plans to expand its West and Central Africa railway project to the shores of the Indian Ocean through Tanzania.

Known as the Lobito Corridor, this US-funded railway project that originally ran from Angola to Zambia through the Democratic Republic of the Congo (DRC) envisions adding 1,300 kilometers of railway from Zambia to Tanzania and is slated to be completed in just five years, by 2029.

Former Deputy Chairperson of …

• Key reforms ranging from privatisation initiatives in Kenya to financial liberalisation in Ethiopia, are positioning East Africa as a prime destination for PE investment.
• In Uganda, upcoming oil production in 2025 is expected to increase PE activity, particularly in sectors and businesses that will benefit indirectly from the oil industry.
• Tanzania’s one stop facilitation centre introduced in 2023 seeks to streamline the investment process by integrating key authorities that issue permits and approvals.

East Africa is experiencing a surge in private equity (PE) interest, driven by a wave of government reforms that are reshaping the financial industry. Kevin Kimotho, East Africa Private Equity Leader at Deloitte Africa, has highlighted these developments in the firm’s latest Deloitte Africa Private Equity Confidence Survey 2024.

These reforms, ranging from privatisation initiatives in Kenya to financial liberalisation in Ethiopia are positioning East Africa as a prime destination for PE investment.

Currently, Kenya continues …