Browsing: Tanzania

The European Union has imposed restrictions, including a partial oil embargo on Russia. The sanctions will see the E.U. ban seaborne imports of Russian crude oil by the end of 2022. Additionally, petroleum product imports would stand prohibited by early 2023. European Commission President Ursula von der Leyen reiterates the E.U. plans to reduce reliance on Russian fossil resources by 2027.

Because of the European Union’s political determination to minimize its reliance on Russia in response to Moscow’s invasion of Ukraine, the E.U. is now searching for alternative suppliers. The search implies that suppliers such as Africa’s underdeveloped frontier energy markets may discover new energy markets in Europe. Optimism remains high since it is clear the E.U. no longer rely on Russian gas. Russia has for years remained a primary gas supplier in Europe.

In recent years, Islamic banking has grown on average two to three times faster than conventional banks. No interest clause…

Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.

Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.

On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related expenses like purchase of fertiliser ranked fourth at 14 per cent, phone and home upgrades came in fifth at 7 per cent while entertainment like Christmas celebration was sixth.

Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.

Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.

On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related expenses like purchase of fertiliser ranked fourth at 14 per cent, phone and home upgrades came in fifth at 7 per cent while entertainment like Christmas celebration was sixth.

Tanzania has signed an energy deal to export natural gas Tanzania’s 4th energy summit to open new investment options Tanzania…

The Entebbe airport stands to transform Uganda’s movement over time as it advances to become an oil economy alongside Tanzania.

South Africa, one of the wealthiest countries, has the largest road network, 750,000kms, while Tanzania, East Africa’s competitive economy, has more than 86,000km of roads.

In the current economic scenario, where uncertainty brought by economic shocks from the pandemic and political tensions force nations to expand their horizon of influence, the past years have shown why African infrastructures must be robust and conducive to enhancing value creation.

Whoever moves fast and swiftly dominates the economic conversation. South Africa, Kenya, Namibia and Nigeria are among the top African nations with more robust economies.

The two sides expressed their satisfaction with the role played by the Oman Investment Authority (OIA) through existing projects in Tanzania and the part of the Ministry of Heritage and Tourism through the restoration of historical and archaeological sites in Zanzibar and the advanced stages that these works have reached.

Sayyid Badr forecasts trade exchange between the two countries will increase, especially after Oman and Tanzania signed several memoranda of understanding today, in addition to existing agreements between Oman Investment Authority (OIA) and the concerned Tanzanian authority.

He added that the two countries would later sign MoUs in various economic, investment, energy and tourism fields with a work programme set for those agreements (Oman News Agency).

The minister for Energy, January Makamba, noted before the President of Tanzania Samia Suluhu Hassan that Tanzania could be holding nearly 60 trillion cubic feet (TCF) of gas deposits.

This amount stands to transform the energy sector and put a dent in the economy as the nation becomes a competitive actor within the regional and global markets.

However, the minister revealed that the government of Tanzania is taking natural gas exploration to the next level.

Last year, the Board of Directors of the African Development Fund (AfDB) approved another loan of around $116 million to Tanzania for the upgrade of a 160-km road corridor in the southern part of the country.

This enormous funding by the Bank actually served to cover 98.71% of the project cost; while the remaining 1.29% was met by the government of Tanzania. It is expected that the AfDB will continue funding Tanzania’s road works and other transport infrastructure especially given the country’s strategic geographical location.

Tanzania is the gateway into Africa’s interior and it is also the way out to the rest of the world via the Indian Ocean.

In Tanzania, it is the Tanzania National Roads Agency (TANROADS) is responsible for the improvement of road maintenance and development. The Agency is responsible for the management of 35,000 Km of roads made up of 12,786 Km of trunk roads and 22,214 Km of regional roads.

Tanzania’s Government is scheduled to open the 2022 Tanzania Energy Congress (TEC) this August in the country’s commercial port city…