Browsing: Tanzania

Tanzania business environment
  • Tanzania is reviewing key business development laws to boost investments.
  • One of the laws under review is the Companies Act and the Business Names (Registration) Act.
  • Amended laws are set to create a more conducive investment environment.

The Tanzania business environment is expected to improve to a great deal thanks to ongoing efforts to amend non-conducive business laws.

It is expected that the business law amendment will serve to help the country attract investors by improving its business environment, the government has announced.

The government of Tanzania has made public its intention to review key laws in the country, including the Companies Act and the Business Names (Registration) Act, with a view to align the regulations with current global trends and market needs.

To this end, the government of Tanzania is now collecting stakeholders’ opinions ahead of the proposed law amendments.

While the two laws are often confused and intertwined,

Tanzania's population
  • Tanzania’s population is expected to reach 140 million people by 2050.
  • The World Bank estimates that Tanzania’s population will double every 23 years.
  • Tanzania set to become one of Africa’s and the world’s most populated countries.

Tanzania’s population is expected to reach 140 million people by 2050 given the current high fertility rate of 3.0 per cent. At this rate, the World Bank estimates that Tanzania’s population will double every 23 years henceforth.

In its latest Tanzania Economic Update that was launched in the country’s port city of Dar es Salaam this March, the World Bank says when it comes to population control, the East African country is facing a delicate balance act.

On the one hand, Tanzania has managed to lower its mortality rates and raise its life expectancy but as a result, it is now facing the effects of high birth rates and, they are not all good.…

tobacco's toll tobacco production and consumption
  • Tanzania to earn $400 million annually from tobacco export/sells.
  • The country now ranks second largest tobacco producer in Africa after Zimbabwe.
  • Tobacco has no known health benefit. On the contrary, it causes disease, disability and premature death. Over 6 million people die globally every year from tobacco-related illnesses.

Tanzania has been ranked as the second-largest producer of tobacco in Africa, falling behind only neighboring Zimbabwe, even as tobacco's toll worsens globally. The ranking comes after a bumper harvest in the year 2022/2023, as announced by Tanzania’s Minister for Agriculture, Hussein Bashe.

According to the minister, the country’s tobacco production has more than doubled over the last year alone to 122,858 tonnes in FY2023/2024 from 50,000 tonnes earlier.

As of December last year, the export value of tobacco stood at $316 million, and with the increase in output, the minister is confident that this year the country will attain its…

Ramadan fasting
  • Ramadan fasting increases economic activities around the world.
  • The travel sector, especially airlines registers higher revenues during pilgrimage after Ramadan fasting.
  • Zanzibar has announced tax breaks for consumables during Ramadan fasting.

Every year, from the beginning of Ramadan fasting, Muslim faithful increase spending, travel more and invest significantly to celebrate the Eid vacation.

“As people’s mobility increases, the transport sector’s business also experiences a surge…as people spend the overall economy is stimulated,” explains Abdul Rashid an economist in Tanzania.

The economics of a country change during Ramadan and the months leading to and immediately after the Holy Month. This multiplier effect is felt throughout the world as the Islamic communities prepare, fast and observe the Holy Month.

Take Tanzania for example, the East African country is over 40 per cent Muslim, Ramadan fasting causes increased economic activities ranging from import and export of food, increased spending and pilgrimage related spending.…

Serengeti Wildebeest migration
  • Every year, the Serengeti wildebeest migration involves the movement of vast herds of gnu, zebras, and gazelles.
  • It is a tourism spectacle that sees Tanzania cash in on yearly tourism revenues of roughly $2,250 million.
  • Tanzania tourism accounts for more than 14% of the country's GDP.
Known as one of the greatest shows on earth, the great Serengeti wildebeest migration involves the movement of a huge herd of wildebeest, accompanied by large numbers of zebra, and smaller numbers of Grant's gazelle, Thomson's gazelle, eeland, and impala.
This annual spectacle in Tanzania has become a global sensation and is the visual brand of African safaris, making a multibillion-dollar business. According to the Tanzania National Business Council (TNBC) forecast, the share of tourism in the country's GDP will reach 19.5 per cent in 2025/26.
Besides being a tourism spectacle, the great migration is also crucial to enriching global research and a better
direct flights to Zanzibar
  • Data shows direct flights to Zanzibar have hit 34 from around the world.
  • Talks underway to launch direct flights to Zanzibar from Riyadh, Saudi Arabia.
  • Kenya-based budget carrier Jambojet is set to start Zanzibar-Mombasa flights from July.

Zanzibar President Dr. Hussein Mwinyi has been steadfast in his push for the economic growth of the Spice Islands and a globally renown tourist hub. Among his major focuses has been the introduction of direct flights to Zanzibar, an archpelago off the Indian Ocean.

Zanzibar’s crown airport is Zanzibar’s Abeid Amani Karume International Airport which now the government is revamping, expanding, and modernizing to meet the demand of a growing number of visitors.

Complete with almost all modern facilities, the airport also has several duty-free and commercial outlets at its terminals, enhancing its appeal for airline operators eyeing direct flights to Zanzibar.

For example, its newly-built international Terminal 3, which exclusively serves international

ngorongoro crater
  • The number of tourists visiting Tanzania has significantly increased, especially visitors to the globally famous caldera, the Ngorongoro Crater.
  • Over half a million tourists visited the East African country in the first half of the 2023/24 year.
  • Authorities have managed to control poaching in the renowned UNESCO Heritage site, Ngorongoro Crater, a top tourist destination.

The number of tourists visiting Tanzania has significantly increased, especially visitors to the globally famous caldera, the Ngorongoro Crater.

This 2000-foot-deep caldera was formed when a giant volcano exploded and collapsed on itself some two to three million years ago. Over the years, the crater has become a tourism sensation, attracting thousands yearly.

From the famed lions that climb trees to the sheer size of the crater and the lakes inside it, the grazing herbivores on its slopes, wildebeests, zebras, elephants, buffaloes, name it, all the big five are to be found in and around …

Expensive loans
  • Expensive loans remain a significant issue across populations engaged in agriculture in Nigeria, Tanzania and Zambia.
  • A report by the Alliance for Green Revolution in Africa (AGRA) says capital injection is a significant strategy agribusinesses use to survive.
  • Moreover, agribusinesses face high operational costs from fuel prices and low-profit margins driven by currency devaluations.

The lack of agriculture-friendly financial systems saw agribusinesses turn down expensive loan options in the market, with only 15 per cent taking on commercial capital in 2023 and the rest sourcing capital from friends, family and their business savings.

The incentives by the government channelled towards agriculture failed to adequately cushion Agribusinesses from economic shocks, a new report by Alliance for Green Revolution in Africa (AGRA) has revealed.

The African Agribusiness Outlook survey is conducted annually to gain insights into the sector’s top priorities, how they address challenges, and what SMEs see as opportunities.

A reflection …

Tanzania's coffee production
  • Tanzania's coffee industry enjoyed a bumper harvest of beans in the 2022/23 season, earning the economy an impressive $238 million.
  • Coffee is the East African country’s largest cash crop and the sector provides income to over 400,000 households.
  • To further boost production, the government is increasing the supply of seedlings to more farmers across the country.

Tanzania may be famous for its expansive tourism offerings, iconic Mount Kilimanjaro, awe-inspiring wildlife wonders in the Serengeti, and the white sandy beaches of Zanzibar, but it is quickly gaining fame on a new frontier: the production of world-class coffee beans.

"Some of the finest single-estate and Peaberry coffee beans in the world come from here," notes international coffee tester and analyst Arne Preuss in his recent review of the development of Tanzania’s coffee industry.

Tanzania's coffee production

Tanzania's coffee production averages between 30,000 and 40,000 metric tonnes annually. It is mainly gaining fame…

AI-powered innovation
  • The transformative power of AI-powered innovation in empowering farmers with the tools and knowledge to protect their livelihoods and improve food security.
  • Innovative solutions such as AI-powered climate information systems and blockchain technology for digital wallets are improving smallholder farmers’ productivity and driving their resilience.
  • UN’s IFAD notes that innovation is not limited to cutting-edge technologies but can also be found in rural communities and among farmers themselves.

In Tanzania, AI-powered innovation is revolutionizing the agricultural industry, showcasing the immense potential of technology to drive resilience and productivity among smallholder farmers.

By leveraging an innovative app that analyzes images of pest-infected crops and provides locally available treatments, farmers have collectively saved an estimated US$100 million in lost crops.

This success story from Tanzania shared with the world during the International Fund for Agricultural Development (IFAD) 47th Governing Council in Rome, Italy, underscores the transformative power of AI-powered innovation in empowering …