Browsing: Tanzania

•  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 …

• Tanzania sets up first Fairtrade-certified cashew nuts processing plant in Mtwara region.
• The country’s cashew nuts market is poised to reach $860.25 million by 2029.
• Cashew nut exports generate $227 million in 2023/2024.

Tanzania’s cashew nuts industry is getting a big boost with the construction of the first Fairtrade plant to add value to the produce within Mtwara region. The industrial park in Mtwara is poised to tap into the region’s massive production to boost the income of millions of farmers.

According to the Cashew Board of Tanzania (CBT), exports of the crop generated a total of $227 million in the 2023/2024 season, a significant increase from the $162 million realized during 2022/2023 period.

With the Tanzania cashew nuts market expected to reach $690.97 million this year and grow at an annual rate of 4.48 per cent to $860.25 million by 2029, this industrial park comes at an opportune time …

• Savannah Clinker seeks to acquire 100% of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3M (KES25.4Bn), an offer that is higher than the $180M (KES23Bn) placed earlier by Amsons Group.
• The competition between Savannah Clinker and Amsons Group underscores an ever-persistent rivalry between Kenyan and Tanzanian firms in the East African market.
• In July, Amsons’ $180M offer was seen as a strategic move to expand its footprint in Kenya and tap into the lucrative construction market.

The push by Tanzania-based conglomerate Amsons Group to grow its footprint across Kenya through the acquisition of Bamburi Cement has taken a fresh twist after a Kenyan-based mining firm Savannah Clinker Ltd placed a more attractive counter-offer for the full acquisition of Bamburi PLC.

In the latest filing with market regulators, Savannah Clinker seeks to acquire 100 per cent of the Nairobi Securities Exchange-issued shares of Bamburi Cement for $197.3 million(KES25.4 billion), …

• Bolstered by the support of President William Ruto, Odinga outlines his vision for Africa—a continent united, resilient, and thriving.
• Kenya has established a secretariat to facilitate Odinga’s AU Commission Chairmanship campaign.
• Odinga’s bid launch attracted presidents Yoweri Museveni, Salva Kiir, Samia Suluhu, and former presidents Jakaya Kikwete and Olusegun Obasanjo.

In a forum graced by Heads of States and senior Government officials from across Africa, Kenya’s Raila Amolo Odinga has officially launched his bid for the Chairperson of the African Union Commission (AUC).

Bolstered by the support of Kenyan President William Ruto, Odinga outlined his vision for Africa—a continent united, resilient, and thriving.

In the current contest, the role of the AUC Chairmanship is reserved for a candidate from the East African region to replace Moussa Faki, a career politician from Chad who has served since 2017. Recently, the African Union issued a statement listing the four competing candidates as …

• Activation of Julius Nyerere Hydropower Plant (JNHPP) turbines increase output.
• Authorities say a national renovation of power infrastructure is underway.
• Minor outages persist in several regions due to ongoing maintenance.

Tanzania electricity supply has seen a significant increase, with the country now enjoying surplus power output as the current generation capacity reaches 2,152 megawatts (MW), well above the total demand of 1,683MW. This increase in capacity is attributed to the activation of three turbines at the Julius Nyerere Hydropower Plant (JNHPP). That plant alone is projected to produce some 2,115 MW when fully operational.

This remarkable turnaround comes less than a year after Tanzania’s President Samia Suluhu dissolved the entire Tanesco board following persistent blackouts caused by low water levels in dams due to drought and delays in power plant maintenance.

Speaking to the press in the commercial capital of Dar es Salaam, Tanzania’s Deputy Prime Minister Dr. …

• The EAC’s distribution sector is marred by systemic challenges, despite claims of a working free trade zone in the bloc.
• Stakeholders say that persistent bottlenecks hamper the flow of goods and services across the eight-member area.
• A recent EU-led EAC Peer-to-Peer Learning Conference sought to formulate a strategic action plan to address barriers limiting the industry’s growth and development.

The East African Community (EAC) is an eight-country strong regional free trade bloc in East Africa, by definition, it should mean easier movement or distribution of goods and services, but that’s only true on paper, the reality on the ground is quite on the contrary.

EAC maintains that it is “dedicated to enhancing economic efficiency and fostering regional integration through strategic investments and the utilization of established industries. The goal is to position the Community as a single investment area, harmonizing trade policies, investment incentives, and product standards.”

Protocols demand that …

• Inflation in Tanzania has gone down to 3%, lower than Kenya’s 4.3% and Uganda’s 4% posted in July.
• While economic experts commend the country’s monetary policy for managing inflation, economic woes facing the poor persist.
• Policymakers in Tanzania project to control inflation within the National Vision 2020-2025 target of 3.3 to 4.4%.

Inflation in Tanzania has inched slightly lower to 3.0 percent, compared to 3.1 which was recorded in June, the National Bureau of Statistics (NBS) has reported.  The NBS attributes this reduction to the country’s Monetary Policy Committee (MPC) in controlling inflation.

“What lower inflation means is that the cost of living has reduced…the price of goods and services have gone. The current efforts have ensured inflation remains within acceptable limits,” Central Bank’s Directorate of Research and Policy, Mr. Marwa Patrick commended the MPC as strategic and successful. 

“This achievement reflects meticulous fiscal and monetary policies and …