Browsing: Tanzania

• 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)

Are you an aspiring entrepreneur in Tanzania? If so, choosing the right business structure in Tanzania is a crucial step toward setting up a successful venture. With various options available, it can be overwhelming to determine which one suits your needs and goals best. That’s where this blog comes in.

In this comprehensive guide, we will walk you …

• Trade tensions within the EAC bloc have intensified lately, with neighboring countries taking adverse actions against each other.
• In the latest development, Tanzania is blocking passenger flights from Kenya Airways to Dar es Salaam, while Burundi has officially closed its borders with Rwanda.
• Elsewhere, Kenya has been pursuing trade deals with the European Union and the United States, leaving regional economies to play catch-up

Heightened trade and political tensions between the East African member states are threatening to erode the gains of a free market and the dividends of a united bloc for a region expected to achieve the fastest growth across Africa this year.

As East Africa increasingly evolves into a focal point for economic growth and development, underlying trade tensions are testing the region’s unity to the fullest. As nations strive to harness the benefits of globalization, differing economic policies and priorities can often strains trade relations defeating …

• The SAP FCPA violation will result in a $100 million fine from the US Securities and Exchange Commission.
• From December 2014 to January 2022, SAP was found to have utilized third-party intermediaries and consultants to pay bribes to government officials in order to secure business.
• The SEC’s action is part of a coordinated global settlement that involves the United States Department of Justice and criminal and civil authorities in South Africa.

German software giant SAP has disclosed that it paid Kenyan government officials for tenders in the country. The company has now agreed to pay $100 million in fines to settle charges of paying bribes to secure business deals in Kenya, Tanzania, South Africa, Malawi, Ghana, Indonesia, and Azerbaijan.

In 2019, a whistleblower complaint filed with the US Securities and Exchange Commission and the US Department of Justice indicated that SAP was involved in corruption and bribery, thereby violating US …

• Airtel Africa CEO Olusegun Ogunsanya has retired and will be replaced by Sunil Taldar, the new Managing Director and CEO.
• For the six months ending on September 30, the group reported a net loss of $13 million,
• Mittal further announced Ogunsanya’s post-retirement role as the Airtel Africa Charitable Foundation Chair.

Airtel Africa CEO set to retire

Airtel Africa PLC has announced that Chief Executive Officer Olusegun Ogunsanya will retire on 1 July 2024 and take an advisory role.

Ogunsanya, who joined Airtel in 2012, ran the Nigeria Operations of the Telecommunications and Mobile Money Company for nine years before he was appointed Chief Executive Officer of the Group in 2021.

He led the company to maintain double-digit revenue growth and deliver new products to its customers across the continent.

Building on the work undertaken during his time as CEO, including the launch of the Company’s first Sustainability Strategy, and given …

• Burundi is the other country projected to record one of the fastest growing economies in 2024, according to the IMF.
• The Fastest Growing Economies in 2024 (real GPD growth) projections index places Rwanda ahead of her regional peers with a projected growth of 7.0% next year.
• Tanzania comes in closely with a projected growth of 6.1% while that of Burundi is forecast to grow at 6%.

Rwanda, Tanzania and Burundi will be the fastest growing economies in East Africa in 2024, the latest projection by the International Monetary Fund (IMF) indicates, with all countries posting economic growth above the world’s average.

The Fastest Growing Economies in 2024 (real GPD growth) projections index places Rwanda ahead of her East African Community (EAC) peers with a projected growth of seven per cent this year.

Tanzania comes in closely with a projected growth of 6.1 per cent while that of Burundi is projected …

• A state-of-the-art liquefied petroleum gas (LPG) storage facility is being built in Mombasa by Taifa Gas Investment SEZ Limited.
• Taifa Gas’ entry into the Kenyan market marks the beginning of a fresh era in the trading links within East Africa.
• Much of East Africa, especially in nations like Tanzania, Kenya, and Uganda, needs more energy because so many people there do not have access to consistent power.

A state-of-the-art liquefied petroleum gas (LPG) storage facility is being built in Mombasa by Taifa Gas Investment SEZ Limited. This is a monumental step for East Africa’s energy sector. This project is more than a local development; its 30,000-ton capacity symbolises the rise energy sector in East Africa and promises economic prosperity for the entire region.

Strategically located within the Dongo Kundu Special Economic Zone (SEZ), the facility represents economic vision. This site is not a fluke because of the strategic decision …

Tanzania’s island of Zanzibar, once known for tourism, is now charting a new course toward becoming a powerhouse in technology and e-commerce. The recent launch of an electronic products shop in Zanzibar is not just a commercial opening; it symbolises the dawn of an ambitious era for the island’s investment sector.…

• Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million to expand into five new African markets to increase insurance penetration in markets characterized by low uptake.
• Company Founder and CEO Adelaide Odhiambo says the investment would be raised over the next three years.
• The insurer is partnering with Mobile Network Operators and banks to distribute affordable micro-insurance products, with plans to enter Uganda, Nigeria, Ethiopia, Malawi, DRC, Tanzania, Rwanda, and Zambia.

Kenya’s Bluewave Insurance Agency has announced plans to raise $6 million as the firm seeks to expand into five new African markets, aiming to increase insurance penetration in regions characterized by low uptake. Adelaide Odhiambo, Founder and CEO of Bluewave Insurance Agency, stated that the investment would be raised over the next three years to support the expansion plans.

Bluewave Insurance Agency’s new target markets

The company has forged partnerships with large aggregators, specifically Mobile Network Operators …