Tanzania: Latest News
Dana Sanchez, 11:04 am
One of South Africa’s largest banks bought a majority stake in the team that built the country’s largest mobile payments product. Africa has the highest mobile money adoption rate in the world, but it’s hardly universal, catching on more in some countries and less in others. While banks and mobile payments startups would like to see large-scale adoption of mobile money, the reality is cash is likely to remain king in Africa — internet penetration and trust in the financial system are low on the continent.
Dana Sanchez, 2:42 pm
Five candidates for the top African Union job will face off Friday in a first-ever televised debate. African citizens will get to ask the candidates questions via social media about their vision for the continent. The A.U. hopes the debate will popularize it. Does the A.U. need to be popularized? Some consider A.U. support of withdrawal from the International Criminal Court as dangerous for Africa. The public won’t actually be voting for the next A.U. chairperson, but as the institution evolves, maybe one day that will happen.
Kevin Mwanza, 1:06 am
Solar energy, a cheap power alternative to the vast population in sub-Saharan Africa with no access to electricity, has economically empowered the women entrepreneurs in Tanzania who work even after night falls. In Bunambiyu, a village in the northern region of East Africa’s second largest economy, solar-powered lanterns have greatly improved the social-economic lives of the rural population.
Ann Brown, 9:00 am AFKI Original
Nigerian-American Olatorera Oniru worked full time for some of the largest corporations in the world, but kept her dream alive by working part time for herself. At 29, she owns one of Nigeria’s top e-commerce fashion businesses. Focused on the Made-in-Africa movement, she mentors other entrepreneurs with potential in fashion and beauty who have not met the quality criteria to retail with her. Many university graduates don’t have the skills to succeed in the business world, and it’s one of the challenges of doing business in Africa, Oniru told AFKInsider.
Global Risk Insights, 7:36 am
A few weeks ago the World Bank published their ‘2017 Ease of Doing Business Report’: Tanzania performed impressively in this year’s report, climbing seven places in the world ranking. This upward trajectory is largely due to the substantial reforms over the past year in four key areas: business licensing, land reforms, easy registration of businesses and people’s registration.
Tom Jackson, 4:20 am AFKI Original
The majority of African cities are striving to be tech hubs. From Cairo to Accra, Lagos to Nairobi, Cape Town to Johannesburg, cities are striving to emulate Silicon Valley as tech hubs. Nairobi’s iHub launched with government support, and the Enterprise Kenya initiative is designed to assist local startups. In Lagos, the presidency has offered backing to tech startups, and there are a myriad of hubs.
Dana Sanchez, 2:50 pm
London-based discount airline Fastjet is seeking another injection of capital and trying to stabilize its business by cutting unprofitable routes. It’s hoping to add internal South African flights — a crowded market but one it said it can’t ignore. Fastjet was engaged in a price war with Kenya Airways. Now it’s cutting routes. Traded on the London Stock Exchange, Fastjet wants to be the first pan-African low-cost carrier, but has not made a profit since its 2012 inception. A new, sooner-than-expected capital raising effort in the first quarter of 2017 prompted Fastjet Chairman Colin Child’s resignation.
Kevin Mwanza, 5:35 am
Dangote Cement temporary shut down operations in its Mtwara plant in Tanzania last week, raising fears that the firm may be forced to exit the market, its only operational plant in the East African region after it closed its Ethiopian plant in October and it’s Kenyan foray failed to take off. The company attributed the Tanzanian plant closure to technical issues, even as sources privy to the government said Dangote Cement was caught up in political infighting.
Kevin Mwanza, 8:44 am
Foreign investors in Tanzania are considering pulling out of the nation or expanding operations into other countries due to higher taxes introduced by President John Magufuli in efforts to drive the economy by cracking down on revenue evasion and corruption. Magufuli’s government has already increased taxation on mobile money transfers, banking, and tourism and cargo transport service providers.
Kevin Mwanza, 9:11 am AFKI Original
Fidel Castro was a revolutionary leader and president of Cuba from January 1959 to February 2008 when he formally ceded power to his younger brother, Raul Castro, due to his ailing health. During his stay in power, Castro enjoyed good relations with African leaders and liberation activists such as the late Kwame Nkrumah of Ghana, Nelson Mandela of South Africa, Julius Nyerere of Tanzania and Augustinho Neto of Angola.
- Real Estate