Tanzania: Latest News
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.
Tom Jackson, 6:56 am AFKI Original
A recent McKinsey report on “digital globalisation” found flows of data and information now generate more economic value than the global trade in goods. Essentially, this means that an industry that did not exist 15 years ago is now bringing in more value to a country’s Gross Domestic Product (GDP) than the centuries-old trade in goods. That is quite something.
Staff, 7:13 am
Nearly 100 million people are now on the first steps of the energy ladder thanks to the rapid deployment of solar home systems in poor communities across the world. That’s incredible progress that marks the beginning, not the end, of clean energy access. With increasing attention being paid to the missing middle excitement about the opportunity to end energy poverty is palpable.
Kevin Mwanza, 8:52 am
African development Bank (AfDB) approved a $10 million equity funding to boost Information and Communication Technology (ICT)-driven production and growth in six sub-Saharan Africa countries. The Technology and Innovation in Developing Economies (TIDE) Fund 1 will invest in companies that use new technology to provide affordable services in the energy, agribusiness, financial, education and healthcare sectors
Kevin Mwanza, 7:07 am
The African Airlines Association (AFRAA) urged African governments to release about $ 2 billion in revenue owed to foreign carriers to avoid suspension or shut-down of operations on the continent. The pan-African body said that the Angolan, Nigerian, Egyptian and Sudanese governments have blocked repatriation of the earnings, which has also contributed to the turbulent market faced by several airlines.
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