Browsing: Tanzania

• By 2030, partners of the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) aim to cultivate 350,000 hectares of land for profitable production.
• Using the SAGCOT model, Tanzania aims to achieve self-sufficiency in food production to feed Africa by the same year.
• Agriculture in Tanzania currently contributes nearly 30 percent of the country’s GDP and employs over three-quarters of the nation’s workforce..

The Southern Agricultural Growth Corridor of Tanzania (SAGCOT) has achieved significant success over the last decade since its establishment in 2010. Tasked with promoting inclusive, sustainable, and viable agricultural value chains in southern Tanzania, the organization has notably enhanced agricultural productivity.

SAGCOT has established production clusters, including Ihemi, Mbarali, and Kilombero, in southern and Morogoro. Through these agricultural clusters, SAGCOT has successfully increased food production, developed value chains, and elevated household income for farmers.

“I am truly impressed with the work of the SAGCOT Centre Limited and its …

• The Romania-Tanzania alliance is taking shape with President Iohannis signing two major trade MoUs with the African country.
• This is part of Tanzania President Samia’s move to woo European investors to her country’s agriculture sector.
• Romania-Tanzania ties seem to offer immediate gains with the European country assuring Dar es Salaam of food security even as the Ukraine-Russia war persists.

A fresh alliance, Romania-Tanzania, is taking shape, with the European country betting on the East African nation to grow its presence and influence on the continent significantly as it forges “strategic approaches to Africa.”

President Klaus Iohannis made the assertion during his recent visit to Tanzania. In a four-day state tour, he engaged with the government and investors in Tanzania’s mainland and the island of Zanzibar.

During his visit, at least two Romania-Tanzania agreements were signed by President Iohannis and his counterpart, Dr. Samia Suluhu Hassan.

Romania-Tanzania strategic partnership

While the …

• Tanzania and India have agreed to trade in local currencies weaning off the use of the US dollar.
• There are advantages of using local currencies in trade versus the traditional dollar.
• Tanzania and India have also agreed on military, maritime, and space technology cooperation.

India’s Ministry of Foreign Affairs Secretary Dammu Ravi has met with Tanzania’s President Samia Suluhu Hassan with reports emerging that the two leaders have among other things, agreed to trade in Rupees, the sub continent’s local currency.

The decision implies that the two countries, with long-running business ties, will effectively wean off using the king dollar as their ‘gold standard’, instead embracing the Indian Rupee as their common currency in exchange for value.

“When international transactions are denominated in local currencies, countries can avoid currency fluctuations and the associated risks. This stability helps to mitigate exchange rate volatility, reducing uncertainty and facilitating more accurate planning …

• Climate change is causing droughts, which, in turn, are to blame for the persistent power cuts in Tanzania.
• To address this challenge, Tanzania projects that completing the 2,115MW Julius Nyerere hydropower dam will double the country’s hydro capacity.
• Currently, approximately 95 per cent of Tanzanian households rely on biomass for fuel.

Tanzania power cuts are becoming increasingly common, with blame apportioned to poor infrastructure maintenance, drought, flooding, and huge gaps in the country’s electricity production.

The net effect is, however, all too obvious: millions of dollars in lost opportunities for families and businesses as they are forced to endure long hours without electricity.

The irony is that Tanzania enjoys one of the biggest energy potentials in Africa, enough to produce adequate electricity for domestic needs and exports.

“Maintenance issues and climate change-induced water shortages have caused a 400-megawatt electricity shortfall in Tanzania, triggering power rationing across the East African nation,” …

• Tanzania sugar shortage is sparking unrelenting hike in prices.
• The government of Tanzania has approved the import of over 100,000 tonnes of sugar.
• President Samia has pledged to increase sugar production by 2025.

A biting sugar shortage in Tanzania is causing the price of the commodity to skyrocket over the last few months. On the one hand, the sugar shortage is blamed on heavy rains at the end of last year while on the other hand, there are allegations of hoarding and price setting by industry cartels.

With little to no evidence of the latter, the speculations remain just that, mere allegations. However, what is undisputed is sugar shortage and the attendant surge in prices for the sweetener.

Sugar shortage in Tanzania has persisted for almost an entire year now. So profound is the problem that President Dr Samia Suluhu Hassan was forced to issue a public statement explaining the …

• Tanzania Agricultural and Horticulture Association (TAHA) is leading sector revival.
• The global horticulture market is projected to reach US$40.24 billion by 2026.
• The Tanzanian horticulture industry has the potential to earn US$3 billion per annum.

The fresh produce market is projected to reach US$40.24 billion by 2026 growing at an annual rate of 10.2 percent and Tanzania is angling for a pie of these billions from its horticulture sector.

These statistics by Global Market Estimates (GME) show that the global horticulture market averages US$20.77 billion in 2021 and is growing rapidly.

However, African countries such as Tanzania, which has enormous agricultural production potential still lag behind and only get to enjoy a small percentage of the over US$30 billion horticulture market.

“We believe, when we ensure access to information and knowledge including the adoption of appropriate technologies, market access, and advocating for business enabling environment, there is a potential of …

• Kenya-DRC and Tanzania-DRC Corridors have been identified as the key links that will drive East Africa trade.
• Within the Southern Africa region, higher integration will drive its share of total intra-Africa exports to a third by 2035.
• The MENA Region and the Middle East-East Africa corridors will also be substantial, with combined trade volume expected to reach almost USD200 billion by 2035.

Increased infrastructure interconnectivity by the African states has been identified as the key driver that will lead to success of the African Continental Free Trade Area (AfCFTA). Kenya-DRC and Tanzania-DRC Corridors have been identified as the key links that will drive East Africa trade.

This comes after members after some member states expressed concern that the African trade system has failed to grow beyond the estimated 14–15 per cent over the last three to four years.

However, prospects are now positive that intra-Africa trade will grow 3.9 per …

• General cost of living in Africa has increased driven by food inflation.
• Researchers project a possible decline in food prices in 2024.
• Food security in Africa is threatened by possible escalation of conflict in Gaza.

The cost of living in Tanzania is steadily increasing, driven by the rise in the prices of basic foods. As of August 2022, Tanzania’s food inflation was reported at 7.8 per cent by the World Bank. The inflation rate worsened, reaching a peak of 9.7 per cent as of December 2022.

“This upward trajectory of food prices persisted into January 2023, where the food inflation rate reached 9.9 per cent,” reports Tanzania Investment and Consultant Group Ltd (TICGL), an economic research institute.

Food inflation is not only affecting East Africa but also most of the rest of the world. The World Bank states, “Inflation higher than 5per cent is experienced in 63.2 per cent of …

• Indonesia has agreed to support Tanzania in developing its agriculture industry through funding and training at the Farmers Agriculture and Rural Training Centre in Morogoro.
• Additionally, Indonesia, which also has a thriving pharmaceutical industry, will invest in Tanzania through its pharmaceutical companies.
• As part of this expanding collaboration, the Diplomatic Schools of Tanzania and Indonesia have agreed to exchange students and professors.

A mutually beneficial trade and investment partnership is blossoming between Tanzania and Indonesia. At the centre of this strengthening alliance, the two nations are building bridges and targeting investments in key sectors such as agriculture, minerals, marine resources, the economy, education, diplomatic relations, technology, and trade.

Last week, President Samia Suluhu Hassan made a state visit to the Oceania nation, a move aimed at enhancing bilateral relations and forging new economic partnerships between Tanzania and Indonesia.

President Suluhu’s visit, which took place from January 24 to 26, forged …

• Choosing the right business structure is a crucial step toward setting up a successful venture in Tanzania, a country with vast natural resources.
• With various options available, it can be overwhelming to determine which one suits your needs and goals best.
• In this article, whether you’re considering a sole proprietorship, a public limited company, or a partnership, we’ve got you covered.

United Republic of Tanzania at a Glance:

2024 Projected Real GDP (% Change): 6.1

2024 Projected Consumer Prices (% Change): 4.

Country Population: 65.231 million

Source: International Monetary Fund (IMF)

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