Tanzanian payment financial technology (fintech) firm Nala been on the upswing since it secured pre-seed funding from Accel in year 2019, with which it built a mobile money service for East Africa. Then last year it raised $10 million more and has now set its target higher in the lucrative remittance market. It is now eyeing a bigger piece of Kenya's Sh420 billion inflows, months after securing approval from the Central Bank of Kenya and.... Read more »

Posted on : Wednesday , 17th August 2022

International professional services firm Deloitte recently released the 2022 edition of its Africa CEO Survey that shares the perception of African private sector leaders on key issues and challenges, and documents and analyzes their approach to a series of fundamental aspects of their business model. The survey collects data and perceptions from 194 CEOs, operating in over 50 African countries, across all regions: North Africa (13%), East.... Read more »

Posted on : Thursday , 28th July 2022

AS trade relations between Tanzania and China continue to grow, the former is planning to open up another consulate in China's financial hub-Shanghai. Already, Tanzania has a consulate in Guangzhou, which is operating under the coordination of the Embassy situated in Beijing which is the administrative capital of China. This was revealed on 20th June 2022 by the Director General of African Affairs in the China Ministry of Foreign.... Read more »

Posted on : Friday , 1st July 2022

The Bank of Tanzania (BOT) Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to USD 10,214.6 million during the year ending March 2022. This is +20.14 percent higher than US$ 8,502.1 million in a similar period in 2021. Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts. Exports of goods rose by 7.8 percent to USD.... Read more »

Posted on : Friday , 1st July 2022

The Government of Tanzania has signed a liquefied natural gas (LNG) framework agreement with energy giants Equinor and Shell, Reuters reported. The signing of the deal will expedite the start of the construction of a $30bn LNG export terminal. The deal is expected to pave the way for a final investment decision on the $30bn LNG export terminal by year 2025, the news agency quoted Tanzania’s Energy Minister January Makamba as.... Read more »

Posted on : Monday , 27th June 2022

The US government is looking beyond a delayed trade deal with Kenya to expand commercial ties between the 2 countries. In a new report submitted to the US Congress by Joe Biden’s top trade diplomat Katherine Tai, the US government revealed it would pursue “other means” of deepening trade engagements with Kenya in the absence of a free trade agreement (FTA). “(We will) engage with Kenya to deepen bilateral trade, potentially.... Read more »

Posted on : Wednesday , 1st June 2022

The Bank of Tanzania Monthly Economic Review-April 2022 reveals that the country’s exports of goods and services increased to US$ 10,214.6 million during the year ending March 2022.   This is +20.14% higher than US$ 8,502.1 million in a similar period in 2021. Improvement in exports was noted in both traditional and non-traditional exports in addition to travel receipts.   Exports of goods rose by 7.8% to US$ 6,882.2.... Read more »

Posted on : Monday , 30th May 2022

UAE logistics company DP World recently announced the launch of its wholesale e-commerce platform Dubuy.com in Tanzania. The online marketplace will give Tanzanian businesses access to international markets and provide a secure and reliable supply chain through DP World’s worldwide ports and logistics network, the company explains.   The new platform enables Tanzanian businesses to buy wholesale products across a variety of.... Read more »

Posted on : Monday , 25th April 2022

Tanzania and the US have on April 22, signed 7 agreements for business projects which are set to be implemented in Tanzania by investors and companies from the United States of America. The signing of the agreement was witnessed by President Samia Suluhu Hassan who is in the United States for a 2 week official trip. According to a statement issued by the directorate of presidential communications, the deals with key private sector.... Read more »

Posted on : Monday , 25th April 2022

Tanzania and Uganda are gearing up to become the region's oil economies with the latter signing a mega oil pipeline deal to transport Uganda's oil to its port of Dar es Salaam. The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest growing economy compared to other regions on the.... Read more »

Posted on : Monday , 21st March 2022

On 18th February 2022, the President of the European Commission (EC) Hon. Ursula Von der Leyen met with Tanzania’s President Hon. Samia Suluhu Hassan on her visit to Belgium.   After the meeting, Von der Leyen has announced the EC’s support to Tanzania with EUR 425 million to fund various development projects in the country over the next 3 years. The funding corresponds to TZS 1.15 trillion and some areas of investment have.... Read more »

Posted on : Monday , 21st March 2022

Undersecretary of the Ministry of Commerce and Industry H E Sultan bin Rashid Al Chapter met with Deputy Minister of Trade and Industrialization of the Republic of Kenya H E Lawrence Karanja during the latter’s current visit to Qatar. During the meeting, the officials touched on the bilateral relations between the 2 countries in the commercial, industrial and investment fields, as well as ways to enhance and develop them. Moreover, the.... Read more »

Posted on : Friday , 18th February 2022