Tanzania: Latest News
Kevin Mwanza, 4:58 am
Atlas Mara, an Africa-focused investment vehicle set up by ex- Barclays CEO Bob Diamond, has experienced hard times in its efforts to become the leading financial player in sub-Saharan Africa and capitalize on the continent’s vast unbanked population. Diamond set up the investment company in 2013 to buy African banks but has since faced a number of hurdles due to the fall in global commodity prices and depreciating currencies. While Altas Mara has spread to seven countries across Africa,
Kevin Mwanza, 10:53 am
The hotel industry will enjoy a boom in sub-Saharan Africa in the next three years, with East Africa leading the growth that will see about $3.6 billion worth of investment into the sector in the next two years. Tourism, diplomatic and non-governmental activities in the East African nations of Kenya, Rwanda and Ethiopia are leading the growth.
Staff, 12:01 am
Ethiopia’s economy is expected to overtake Kenya’s this year, buoyed by massive government spending on infrastructure. The IMF estimates Ethiopia’s GDP will grow to $69.21 billion this year, narrowly edging out Kenya’s at $69.17 billion. Kenya is viewed as more democratic than Ethiopia, where authoritarian rule is marked by crackdowns on the press and its own citizens, such as the Oromo. Kenya also has a more open economy, while Ethiopia closes most sectors of its economy to foreign investors.
Dana Sanchez, 8:33 pm
Kenya is the second country in Africa where Ford Mustangs will be available now that there’s a right-hand-drive factory version. Ford’s 2014 overhaul of the Mustang included opening sales in new countries. Mustang is the top-selling sports car this year in South Africa. Despite the price tag there — $51,463 to $67,467 — Mustang has a massive pre-order backlog. Its waiting list could extend into 2018.
Tom Jackson, 4:59 am AFKI Original
Last month’s Frost & Sullivan report, Enabling eHealth Technology in South Africa, Kenya and Ghana, painted a glowing picture of the e-health space on the continent. From telecoms to startups, many firms are capitalising on the increasing advancements in ICT to improve healthcare delivery, with South Africa, Kenya and Ghana ahead of the game. “The total eHealth market for South Africa, Kenya and Ghana is in a nascent stage with expectations of high long-term growth,”
Kevin Mwanza, 7:58 am
FirstRand Limited, a South African bank and the leading lender by market value on the continent, plans to buy assets in Nigerian, as it seeks to capitalize on the global fall in commodity prices that has pushed down asset valuation in Africa’s biggest economy. The plan comes five years after the lender decided against buying majority shares in Sterling Bank Plc because of high prices in shares. Naira, the national currency fell to a record low of 309 against the dollar, in July further lowering asset valuation in the nation.
Dana Sanchez, 1:57 pm
Africa is short 90,000 doctors, 500,000 nurses, 300,000 community health workers and 500,000 hospital beds — and that was in 2007. With populations among the fastest-growing in the world, the ratios are getting worse. For someone interested in investing in the continent, these numbers could spell opportunity. Here are some market opportunities and investment ideas that could help fill the gap where other medical services are lacking.
Joe Kennedy, 5:00 pm
These high-altitude chameleons are endemic to the dormant Tanzanian Mount Meru volcano east of the Great Rift Valley, but the fascinating critters have proved to be adaptable. Also known as Jackson’s chameleon, they’re native to forests at altitudes of 5,250-to-8,010 feet where rainfall exceeds 50 inches a year. But they’re also found in wooded areas of some Nairobi suburbs. They were introduced to Hawaii in 1972 and have since become an invasive species that thrives at lower altitudes. They have also been introduced in Florida.
Dana Sanchez, 10:33 am
Malawi is rich in natural resources and tourism potential, but consistently scores near the bottom of economic indexes. Its citizens typically earn about $1 a day and total installed electricity is less than 300 megawatts. A 12-year finance program signed on the sidelines of the U.S.-Africa Business Forum targets low-income and IDA-eligible countries in Africa to finance renewable energy projects, said Wells Fargo VP Chuck Silverman. The International Development Association (IDA) offers loans and grants to the world’s poorest developing countries.
Tom Jackson, 4:36 am AFKI Original
With their links to industry, access to research, and top drawer facilities, universities can be a catalyst to a Silicon Africa. This is not something that has been the case too often, thus far at least. But, in certain cases, such as the C4DLab at the University of Nairobi and the LaunchLab at Stellenbosch University, universities are realizing they have an important part to play
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