Browsing: tanznaia

Uganda and Tanzania are building the world's longest electrically heated oil pipeline to export oil from Uganda through the port of Tanga in Tanzania. www.theexchange.africa

Uganda, Tanzania to become oil economies

Regional Markets

The EACOP is a 1,443km pipeline that is been constructed at a value of 3.5 Billion USD. These funds are been directly injected into the economies of Uganda and Tanzania effectively increasing their FDI by over 60 % during the construction phase alone.

The magnanimous project is been constructed and operated through a shareholding approach among several stakeholders including the government of Uganda through the Uganda National Oil Company (UNOC), the government of Tanzania through the Tanzanian Petroleum Development Corporation (TPDC), France’s Totalenergies and China’s CNOOC.

It is expected that through the East African Crude Oil Pipeline, the region’s East Africa’s oil potential. It will effectively attract investors and companies to explore the region’s oil potential. Further still, as new infrastructure projects commence in line with the pipeline, it will greatly contribute to the enhancement of the central corridor between Uganda and Tanzania.…

World bank Twitter post

Tanzania at 59 million people: Boom or doom? 

Industry and Trade

Since the advancement of the standard of living, most parts of the world have experienced a relatively rapid population growth than ever before which can be hugely beneficial for economic development if utilized strategically.  

Population growth is rapidly occurring in Africa, with Tanzania now hosting more than 59 million people in its vast, arable and mineral-rich land. This increase puts the East African country, which ascended last year to a low-middle-income status, in a much more advantageous position to move forward or experience a decline. 

The World Bank (WB) – one of Africa’s (and Tanzania’s) close development partner argues that Africa’s population is rising rapidly and will likely double by 2050. 

 READ:It’s a jumbo task as elephant population in Africa soars

“Africa will soon pass one billion people (it may already have) and could reach up to two billion people by 2050. This makes it the fastest-growing continent, and

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Tanzania: Mobile money transfers hike increase cost of living

Tanzania

Tanzania Telecom charges:

Tanzanians are forced to reach deeper into their pockets as the government has increased the cost of performing mobile money transfers. Effective July of this year, Tanzania’s have seen the cost to send or withdraw money shoot up to the roof.

The government, through parliament past a bill to hike the charges arguing the extra tax is needed for national development projects. The government amended the Electronic and Postal Communication Act (CAP 306) a move that allowed it to impose a levy of on mobile money transactions depending on the amount sent and withdrawn.

Tanzania Telecom chargesAt 17 per cent, Tanzania’s excise rate on mobile phone services is the second-highest in Africa, second only to Zambia.

The amount is an increase from the earlier 14.5 per cent that was raised back in 2014. At that time it was explained that the levy increase was meant to compensate the government…

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iron

Magufuli orders revival of Tanzania’s iron mining

Extractive and Energy

th?id=OIPTanzania’s President John Magufuli has ordered the country’s Ministry of Minerals to allocate land to iron and other metal smelters; and to lure investors quickly, the president said the land allocation may even be done at ‘no direct charge’ to the investor.

The President issued the order at a swearing in ceremony for the ministry’s new deputy minister, on Friday 11.12.20. President Magufuli was emphatic over the sector’s potential to contribute to national development. He specifically named a few areas that have already been identified to have ‘millions of tonnes of iron deposits.

“We have so much iron deposit, if the smelters ate willing to melt stolen rails they are willing to smelt iron ores,” he said.

“Give investors areas to mine iron and other metals and minerals,” he went on to say and even pointed out that “…even right here at the capital, we have iron deposits.”

With that, …

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Tanzania: Automotive sector attracting investment

Business

Amid strong demand for automotive vehicles, several domestic and foreign manufacturers are planning to expand their production bases in Tanzania. Government of Tanzania also prioritizes the automotive segment as a key revenue generator and is encouraging flow of FDIs in automotive industry – Tanzania Automotive Market, Size, Share, Outlook and Growth Opportunities 2020-2026 (Report)

Tanzania is one of the most promising and fastest growing automobile markets in the region. Tanzania automobile industry is supported by multiple factors such as labour availability, R&D efforts, geographic advantage and government support.

With positive outlook for economy and greater household purchasing power, the automobile sales in the country are set to witness strong surge in sales.

Meet Mr. Edwin Mac Temba the CEO of Mac Auto Express Garage in Dar es Salaam. He gives The Exchange an exclusive breakdown of how the subsector is performing, how it survived during the corona virus outbreak and …