Browsing: Tanzania

Central Bank of Tanzania

Tanzania Central Bank (Bank of Tanzania) has released it’s monthly economic review bulletin for September 2020, earlier this week, which displayed rather a good prospect for Tanzania’s economy.

The bulletin comes within the same week, when the central bank’s Monetary Policy Committee (MPC) affirmed that Tanzania’s economy will grow by 5.5 per cent in 2020, according to information from The Citizen.

Further, the team noted that—the bank’s accommodative monetary policy was being implemented in a fashion that macroeconomic indicator remained positive, despite the impact of coronavirus (COVID-19) on the global economy.

However, the monthly economic review depicted inflation at a lower level, while exports and foreign exchange reserves remained rather adequate.

Inflation

The report showcased the headline inflation at a stabilized point, standing at 3.3 per cent in August 2020. On a comparison basis, inflation is at a much lower point—than 3.6 per cent in August …

Oil and Gas

Let’s say you are one of the business spirited types and you got wind of a new road and a weighbridge station to set up. Your entrepreneurship senses spike up, you start your research on what the demand of the area is and you get ready to set up shop.

Oil & Gas: Tanzania losing investors

One month, two months, three months…one year pass, the road works have not started, talks amass but no groundwork, do you think you will still want or even have the resources to set up that shop, one year down the road?

That is what UTT Asset Management and Investor Services Plc (UTT-Amis) faced waiting to invest in the much-coveted US$30 Billion Liquefied Natural Gas (LNG) Uganda-Tanzania pipeline.

You see, UTT-Amis was interested in investing in an area in excess of 2,072 hectares of land that was strategically located right where the …

The East African region is a vast region with massive resources, population, and an established commercial landscape that presents viable business opportunities for external investors. According to statistics both by the World Bank and IMF, the region was one of the fastest-growing in Africa with a high influx of foreign direct investments.

In the 2019 report, United Nations Conference on Trade and Development (UNCTAD) noted that the East African region including Ethiopia received $9 Billion in foreign direct investment with projections of this figure doubling over time. However, the effects of the Covid-19 has had a great effect both on the economic growth as well as the number of foreign investments into the region.

The African Development Bank, in its analysis of the effects of Covid-19, highlighted the rebound of the East African economy as one of the main points of observation of the continent’s resilience. GDP growth for 2020 …

BRT Tanzania

With several 100 million dollars in investment^, the Dar es Salaam Bus Rapid Transit System (BRT) is an infrastructure that deserves as much awe as any other in the world.

The investment involves some19.3km of roadways traversed by over 100 buses. It has27 bus stations built with such style and elegance they do indeed give the city a facelift so to speak.

More than the aesthetic function, the infrastructure has indeed transformed the port city of Dar Es Salaam from the usual narrow roads dotted with vendors to 6 lanes and pave ways for passengers, it looks good.

The BRT system that was designed by a Brazilian international consulting firm called Logit ferries 1000s of passengers every day and given that its buses run on specialized lanes, they face no traffic and so it takes less time to complete the same routes that regular commuter …

As the World shakes off the effects of Covid-19, the global energy sector has a long way to go to recover, but the baby steps have begun.

In his remarks at the 20^th Meeting of the Joint Ministerial Monitoring Committee (JMMC), mid last month, the OPEC Secretary General, Mohammad Sanusi Barkindo, underscored the devastating impact of the Covid-19 pandemic and what he described as ‘…its complete disruption of daily life.’

 “These monthly meetings of both the JTC and the JMMC send a reassuring message that we are ready, willing and able to address shifting market conditions”, he said during the video conference.

The SG maintained that ‘…the historic actions taken by OPEC and its partners in the DoC have contributed to an improved balance in the oil market compared to the situation in April, however, the JTC and JMMC must remain vigilant in monitoring market conditions.”

While the global …

Rwanda, Uganda and Tanzania have joined forces to connect stock markets electronically.

The project which is funded by world bank means that the three countries will operate a single market with a view of reducing the cost and time of trading in shares of companies listed on markets across the borders.

The three states are to start trading before the end of this year after interconnecting their trading systems and hooking it to the EAC Capital Markets Infrastructure (CMI) Information Technology platform.

With this new singe stock market, investors in the three states will buy and sell shares of companies listed in any of the countries without going through different stockbrokers.

Taking 3.28 per cent of the value of the transactions, Ugandan stockbrokers take the largest share of the stock trading commission not only within East Africa but in the entire African continent.

Brokerage commission on equity trading in Rwanda …

Main contractors are pushing out specialised subcontractors from the industry by performing tasks that would otherwise be handled by the latter.

In an Exclusive interview with The Exchange, contractors from the Architects Association Tanzania (AAT) who attended the 10^th AAT Continuous Professional Development (CPD) Seminar that was held in Dar es Salaam said, the specialised contractors are not getting any work because when the main contractor is hired they push do perform work that would be done by the specialised contractors.

If you are wondering what am talking about it because you probably already got swindled by a main contractor.

Tanzania, Uganda finalize Africa’s longest oil pipeline deal

You see, the main contractor is the guy you give the ‘main’ job, lets say, to construct the house, the specialised contractor is the guy who comes to do the fine finishing after the construction is done. They handle the ceiling …

Before the dangers of lead were known, it was a common ingredient in house paint, where it acted as a pigment and increased durability. Though banned for use in paint in the U.S. in 1978, millions of homes, schools, and businesses still have lead based paint on their walls, both inside and out. According to the Environmental Protection Agency, lead paint can be found in:

• 24% of homes built from 1960-1978
• 69% of homes built from 1940-1960
• 87% of homes built before 1940

If the paint is in good condition and has been painted over, it usually doesn’t pose a problem. But if the paint is peeling or has been disturbed by scraping, sanding, or burning, it can pose significant health risks to people and pets, especially young children.

How Financial Exits have fared in Africa’s new normal

The case for Tanzania

Back in 2016, the Tanzania Bureau of Standards’ …

Only days after the French oil pipeline Total finalized talks with Ugandan President H.E. Yoweri Museveni, a state visit was made by the Ugandan leader to neighbouring Tanzania where he inked the deal with his counterpart Tanzania’s President H.E. John Magufuli, to jointly develop the East African Crude Oil Pipeline.

The pipeline will be 1 445 km long making it be Africa’s longest heated oil pipeline and is expected to carry some 230,000 barrels per day. Tanzania is expected to get the lion’s share of the deal since almost 80% of the pipeline will run through the country and is expected to employ more than 18,000 Tanzanians.

Most of the benefits involve the construction period of the pipeline where employment will be created for the Tanzanian youth along with a boost of economic activities all along the pipeline.

Uganda struck oil some 14 years ago back in 2006 but has …

The East African Community (EAC) has spent twenty years of integration and admitted new members in the process.  EAC Partner States signed the Protocol in November 2009, and it came into force on 1 July 2010. The common market is the first of its kind in Africa. The internal EAC market has about 146 million consumers. 

This second offering, after the initial community collapsed in 1977 has worked to learn from the mistakes of the past community. However, as things change, the more they have remained the same.  

There have been tensions between countries at different periods of time, some threatening the very core that set forth the community. Kenya has been at constant feud with Tanzania, Uganda has been also at loggerheads with Rwanda while Burundi has accused Rwanda of meddling in its affairs.  

Overall trade disputes are now increasing in East Africa.  Uganda’s trade …