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Showing posts with label Tanzania Today. Show all posts
Showing posts with label Tanzania Today. Show all posts

Monday, September 26, 2016

Top 10 African Air Travel Destinations in 2016



Tanzania is among the top 10 African destinations by international air arrivals for the period January-August 2016.

This was indicated in a recent analysis on international air travel to East Africa by ForwardKeys, a Spanish company focused on traveler data intelligence.
The analysis ranks Tanzania 8th with 3% share of total international air arrivals to Africa.

 South Africa ranks 1st with 13% share, followed by Egypt with 9%, Morocco (8%), Mauritius (5%), Kenya (4%), Algeria (4%), Tunisia (4%), Tanzania (3%), Ethiopia (3%), Nigeria (2%) and other countries in Africa (45%). Olivier Jager, CEO of ForwardKeys, said: “We are seeing a tale of two Africas, with North African countries suffering from political instability and terror activities and Sub Saharan African countries powering ahead […].

” “Looking ahead to the remainder of the year, the picture is highly encouraging for East Africa,” ForwardKeys’ notes. International bookings for travel to East African countries, up to the end of December are 17.3% ahead of where they were at this time last year.

Tanzania Air Transport The total number of air passengers in Tanzania increased by 62% in the past 5 years, from 2.1m in 2010 to 3.5m in 2015, while Tanzania’s cargo handling capacity rose by 7% during the same period, from 23,453t to 25,165t.

The Julius Nyerere International Airport (JNIA), located in Dar es Salaam, is the largest and busiest airport in Tanzania, accounting for over 70% of Tanzania’s air passengers with almost 2.5m in 2015. 

The Kilimanjaro International Airport (KIA), which serves travellers visiting Tanzania’s northern safaris, is the 2nd busiest airport in Tanzania with 780,800 air passengers in 2015.

According to the 2014 World Airport Summit, drivers of Tanzania’s air transport development include the growth of tourism, mining and economic activities.


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Sunday, September 25, 2016

Digital Payments Could Increase Tanzania Tax Revenue by USD477m per Year




Digitization of payments could increase Tanzania’s annual tax revenue by at least USD477m per annum, improving the country’s tax to GDP ratio, currently at 12%.

This was indicated in a recent case study on Tanzania’s digitalization of payments by the United Nations (UN) based Better Than Cash Alliance (BTCA).

 The study examines the adoption of Person-to-Government (P2G) and Business-to-Government (B2G) payments in Tanzania.

A digital P2G or B2G payment is defined as a transfer of funds, directly from the account of an individual or business, to the account of the government using a digital channel, instrument or store of value.

The case study calculates that the Tanzania Revenue Authority (TRA) lost nearly USD300m to VAT tax evasion in fiscal year 2014–2015 and another USD177m to the large number of informal businesses outside of the financial and tax system.

 “Digitization of tax payments presents a significant opportunity for Tanzania to make further progress formalizing what is still a highly informal economy, ultimately increasing government revenues,” the study notes.

By digitizing P2G and B2G, Tanzania has already: Empowered its tourism sector by reducing economic leakage from cash payments, such as conservation park entry fees, by over 40%, supporting investment and employment.

Cut bureaucratic inefficiencies, including reducing import customs clearance times from 9 days to less than 1 day.

Increased transparency between citizens and governments, by digitizing tax payments which has provided electronic proof of payments and protects people against fraud. Further expansion of digitalization of payments in Tanzania could be achieved through: Well-structured incentives, like ease of gaining credit based on digital tax history, or discounts have the potential of encouraging payments.

 Enabling risk-based and easier opening of digital accounts which has the potential to include the informal or rural economy and increase government inflows.


Having the necessary payment infrastructure that enables the easy acceptance of various payment instruments and is interoperable across multiple payment channels. Reducing or eliminating digital payment transaction cost to the end user for government payments.

Friday, September 23, 2016

Bank of Tanzania (BOT )to Add Interest Rate to Monetary Policy Instruments



The Bank of Tanzania (BOT) will add interest rates to its monetary policy instruments by the end of 2016.

The announcement was made by Johnson Nyela, Economic Research and Policy Director at BOT, on September 14th 2016.

Nyela indicates that BOT is in the final stages of the process of adopting interest rates as an instrument for conducting monetary policy.

The use of interest rates as monetary policy instrument involves altering base interest rates, which ultimately determine all other interest rates in the economy.

The base rate is the interest rate at which the Central Bank lends money to commercial banks.

 Currently (2016), the BOT monetary policy instruments include Open Market Operations (OMO) for government securities, as well as purchase of foreign currency and minimum reserve requirements. Through OMO, BOT buys and sells government securities in the open market to expand or contract the amount of money in the banking system.

BOT 2016–2017 Monetary Policy Targets BOT’s 2016–2017 monetary policy targets include 20.5% annual growth of private sector credit, up to 14.8% annual growth of M3 (broad money supply), up to 13% annual growth of average reserve money, and maintaining adequate levels of gross official reserves.

 Gross official reserves include BOT’s holdings of external assets, available to the Bank for direct financing of balance of payments.

BOT’s 2016–2017 monetary policy also aims at keeping inflation close to 5%. August 2016 inflation decreased to 4.9%.


Thursday, September 22, 2016

Tests Prove Tanzania Graphite High Quality





Australian graphite developer Kibaran Resources (ASX:KNL) announced that latest tests prove the high quality and commercial value of graphite from its Epanko project in Tanzania.

The tests further indicate that the Epanko graphite is suitable for usage in cutting-edge technologies.
“These results are important because not only will they help determine optimum processing routes, but they will also assist in maximizing sales prices,” Kibaran’s press release indicates. “They will also help underpin studies to expand Epanko’s planned production capacity by 50% to 60,000 tonnes a year of graphite concentrate.
” Kibaran recently started studies on expanding the production capacity of the Epanko Graphite Project by 50% from 40,000 tons per annum (tpa) of graphite concentrate to 60,000tpa. Kibaran decided to start the expansion studies after securing binding agreements covering all of the project’s 40,000tpa forecasted production.
 Kibaran already has binding agreements for 20,000tpa with German company ThyssenKrupp, 10,000tpa with European graphite trader and 14,000tpa with Japanese trading giant Sojitz. Tanzania Graphite
Tanzania’s largest graphite deposits are located in the central and east southern regions of the country.

Graphite discoveries in Tanzania come mainly from Australia based graphite developers, Magnis Resources (ASX:MNS), Volt Resources (ASX:VRC) and Kibaran Resources (ASX:KNL).

TIC Plan to Attract USD5b FDI to Tanzania by 2020





The Tanzania Investment Centre (TIC) plans to attract USD5b Foreign Direct Investments (FDI) to the country by 2020 to boost its economic growth.

The announcement was made by Clifford Tandari, Chief Executive at TIC during the 2nd TIC Editors Forum held in Dar es Salaam on August 17th 2016.

To achieve its goal of attracting more FDI to Tanzania, TIC is currently working on updating investment laws and policies.

In order to ensure that foreign investors are aware of the investment opportunities available in Tanzania, TIC is conducting business-to-business investment forums.

During a recent interview with TanzaniaInvest, Clifford Tandari said: “We recently held the Tanzania-India business forum and the Tanzania-Poland business-to-business forum to promote FDI from these countries.” He added: “We are currently focused on promoting investments in manufacturing, agriculture—where the majority of Tanzanians are involved – real estate, construction, infrastructure, tourism, and hospitality.” There are several fiscal and non-fiscal incentives available to investors interested in Tanzania.

 Fiscal incentives include tax exemptions on capital goods. Non-fiscal incentives relate to immigration visas and residency permits.

Tanzania FDI
Tanzania Foreign Direct Investment (FDI) net inflows rose by 13% from USD1.8b in 2010 to USD2.04b in 2014. In 2015, FDI net inflows in Tanzania decreased by 34% to USD1.5b from USD2.04b in 2014. According to the 2016 World Investment Report of the United Nations Conference on Trade and Development (UNCTAD), low commodity prices depressed FDI inflows in natural resource based economies across Sub Saharan Africa.


However, over the past 2 years Tanzania remained the first recipient of FDI in East Africa.

Saturday, September 17, 2016

World Bank Approve USD120m to Improve Job Skills in Tanzania




On 15th June 2016, the World Bank (WB) approved the Education and Skills for Productive Jobs (ESPJ) Program in Tanzania to promote skills development in its key economic sectors.

Tanzania’s ESPJ is being financed with USD120m under the WB’s International Development Association (IDA).

The funds will be directed at training 30,000 youths in tourism, agriculture, agribusiness and agro-processing, transport and logistics, construction, communications and energy.

At the same time, the project estimates that 15m young Tanzanians will enter the labor market over the next 15 years.

Most of the employment will be in the private sector, particularly in agriculture but also in services (trade, hotels, transport, construction, and financial services), and manufacturing and mining to a smaller extent

. “The improvement of human capital by helping address the skills gap is critical for the attainment of the country’s goal to become an industrialized economy, create income opportunities and reduce poverty […]”, said Bella Bird, WB’s Country Director for Tanzania, Malawi, Burundi and Somalia. ESPJ aligns with Tanzania’s Five Year Development Plan 2016–2021 (FYDP II), which implements Tanzania’s 2025 Vision to become a semi-industrialized country by that year.

To achieve this, Tanzania aims to develop a broad and diverse base of manufacturing, processing and packaging industries that will lead both the productive as well as the export trade sector.
Foreign Direct Investments (FDIs) are expected to provide the capital for the desired industrial development.

In addition the Government will support Tanzania’s industry through the establishment of an industrial development bank and reduction of taxes on locally produced goods.

In order to accelerate industrialization, Tanzania’s President John Magufuli urged banks to lower interest rates for industrial projects.

China to Invest USD 100m in Tile Factory in Tanzania



Chinese Investors plan to invest USD100m in the construction of a tile plant in Mkiu Village, Mkuranga District, Coast Region of Tanzania.

This was announced during the visit of Tanzania’s Prime Minister Kassim Majaliwa at the construction site on July 15th 2016. The construction of the tile plant will begin in December 2016, by Goodwill Ceramic Limited.

The tile factory is expected to produce 800,000 roofing tiles per day.

It will also employ 1,500 Tanzanians directly and more than 3,000 indirectly. The roofing tiles will be distributed across the member states of the East African Community (EAC), which include Tanzania, Burundi, Kenya, Rwanda and Uganda. Frank Yang, CEO of Goodwill Ceramic Limited, explained that the company wants to take part in Tanzania’s industrialization process for achieving its 2025 vision.

Tanzania 2025 Vision
 Tanzania aims to become a semi-industrialized country by 2025, for which the contribution of manufacturing to the national economy must reach a minimum of 40% of the GDP. To achieve this, Tanzania aims to transform from being dominated by natural resource exploitation activities and extractive industries (agriculture, tourism and mining) to become an economy with a broad and diverse base of manufacturing, processing and packaging industries that will lead both the productive as well as the export trade sector. Foreign Direct Investments (FDIs) are expected to provide the capital for the desired industrial development.

China FDI to Tanzania

 Chinese FDI in Africa at the end of 2014 totaled USD24.5b, 16.3% of which were directed to Tanzania.
Chinese investments in Tanzania rose by almost 100% in 2014, reaching USD4b, compared to around USD2.5b in 2013. In 2014 more than 500 Chinese companies invested in Tanzania and created 150,000 jobs, according to Lu Youqing, the Chinese Ambassador to Tanzania.

Entrepreneurship and Competitiveness Centre Officially Launched InTanzania




Tanzania officially launched the Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote entrepreneurial innovation and competitiveness in the country. 

TECC aims to promote entrepreneurship and competitiveness in Small and Medium Enterprises (SMEs) in Tanzania through:
Skills development in entrepreneurship, innovation and competitiveness Promoting local economic development using the triple helix cluster approach (university-industry-government relationships for innovation) Providing business intelligence through studies and advisory services Jenista Mhagama, Minister of State in Tanzania’s Prime Minister’s Office responsible for Policy, Parliamentary Affairs, Labor, Employment, Youth and the Disabled, said that the Government supports the private sector in SMEs promotion and urged companies and institutions to assist TECC. TECC was founded by the Tanzania Private Sector Foundation (TPSF), the National Economic Empowerment Council (NEEC), and the Commission for Science and Technology (COSTECH). The establishment of TECC is part of Tanzania’s Private Sector Competitiveness Project (PSCP).

The International Development Agency (IDA) and other bilateral donors funded and initiated the project in 2005 to make the Tanzanian private sector more competitive and to create sustainable conditions for enterprise creation and growth. This will be achieved by increasing the capacity of the local private sector to participate in domestic and international markets, and to access financial services.

In Tanzania, 95% of the businesses are SMEs, and they represent about 35% of the country’s GDP, according to the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA).

Tanzania Sign MoU with Netherlands to Boost Potato Production



The Tanzanian Government recently signed a Memorandum of Understanding (MoU) with the Netherlands to increase the potato production in Tanzania and to develop the local potato industry. The MOU sets the conditions for importing seed potato varieties from the Netherlands.

 The Netherlands’ Minister for Agriculture, Martijn van Dam, and Tanzania’s Deputy Minister for Agriculture, Livestock and Fisheries, William Ole Nasha, signed the MoU during the Dutch Minister visit to Tanzania on 15–16 June 2016. Minister van Dam explained: “The [Tanzanian] horticultural sector has grown by more than 75% since 2006. […] Tanzania now produces agricultural and horticultural products for both its own market and for export. […] Yet the sector only accounts for 30% of GDP. The new government is well aware of this and wants to invest heavily in agriculture, energy and infrastructure.” 

The Netherlands intends to assist Tanzania in developing its potato industry by working together with the private sector, adapting propagation material to local conditions, training an inspectorate to carry out proper certification and promoting investment in machinery, storage and processing, Minister van Dam added. The Netherlands is an expert at growing potatoes. Almost 60% of all seed potatoes on the international market are sourced from the Netherlands. Currently, only 4 different potato varieties are available in Tanzania, while in the Netherlands there are more than 400. According to Ole Nasha, Tanzania’s current rate of harvesting 8t per hectare is a lot less than its potential of 30t per hectare. Martijn Van Dam reminded that the Netherlands made similar arrangements with Kenya 4 years ago. “Dutch potato companies are now growing seed potatoes that enable thousands of local farmers to grow four to five times as many potatoes. Even though we’ve only been working in Kenya for a few years, the lessons we’ve learned there could help us speed things up in Tanzania”, he explained. 

In 2013 the Netherlands ended its development relationship with Tanzania, which went back more than 40 years. However, it has been replaced by a partnership of equals, focused mainly on investment in the economy. After the United Kingdom, the Netherlands is the second largest EU investor in Tanzania. According to the Bank of Tanzania (BOT) Foreign Direct Investments (FDIs) from the Netherlands to Tanzania for the period 2008–2012 totaled USD172.6m. More than 100 Dutch companies are active in the country, in infrastructure, financial services, energy, transport, technology and maritime services. In addition, the Netherlands is Tanzania’s largest European trading partner after the UK and Germany. The main Dutch export products to Tanzania are machinery, transport equipment and chemicals. Main import products from Tanzania are foodstuffs, live animals and non-edible raw materials.

Thursday, September 8, 2016

Tanzania to Sign 400MW Power Supply Deal with Ethiopia



Tanzania will sign a deal to import 400MW hydro-power processed electricity from Ethiopia, within the coming weeks.
The national Ethiopia Electric Company (EEP) made the announcement on August 27th 2016. Azeb Asnake, CEO of EEP, said that this is expected to strengthen the economic relations between Tanzania and Ethiopia.
He added that the deal will also strengthen the ties between Tanzania and Kenya since the electricity will pass through the latter in order to be delivered to Tanzania.

Currently (2016), the Grand Ethiopia Renaissance Dam (GERD), which will produce hydro-electric power, is over 50% complete and will be Africa’s largest dam.

 GERD is located along the Nile River in the Benshangul Gumz region near the Sudanese border. The dam will have power generation capacity of 8,000MW. Tanzania Electricity Demand The average electricity consumption per capita in Tanzania is 108kWh per year, compared to Sub-Saharan Africa’s average consumption of 550kWh per year, and 2,500kWh average world consumption per year. However, the demand for electricity in Tanzania is estimated to be growing at 10–15% per year, with currently only 24% of the total population having access to electricity. Tanzania also imports power from Uganda (10MW), Zambia (5MW) and Kenya (1MW).


TAZARA to Allow Private Investments




The Tanzania Zambia Railway Authority (TAZARA) is currently reviewing the TAZARA Act of 1995 to allow private investments and commercialize the railway.

 The announcement was made by Aunyisa Meena, Assistant Director at the Ministry of Works, Transport and Communication of Tanzania, on August 24, 2016.

He explained that these reforms are needed in order for TAZARA to meet the current competition and remain commercially viable.

TAZARA Act 1995 

According to the TAZARA Act of 1995 the funds of the Authority shall consist of such moneys as may: be appropriated by Parliament for the purposes of the Authority be paid to the Authority by way of services rendered be paid to the Authority by way of grants or donations vest in or accrue to the Authority The Act further indicates that the Authority may: accept moneys by way of grants or donations from any source in Tanzania or Zambia and, subject to the approval of the Council, from any source outside Tanzania or Zambia subject to the approval of the Board, raise by way of loans or otherwise, such moneys as it may require for the discharge of its functions charge and collect fees in respect of programs, seminars, consultancy services, and other services provided by the Authorit

Tanzania Zambia Railway Authority
 TAZARA operates the Tanzania-Zambia railway since its inception in 1975. China funded the project mainly to provide an alternative route to export copper from Zambia to Dar es Salaam. In the 1990s, the economic performance of the railway began to decline and continued deteriorating over the next 20 years. However, since 2010 China has been helping TAZARA to revive its operations. Still, TAZARA infrastructure cannot currently meet today’s development demand. This is why revitalizing TAZARA is among the intentions of Tanzania, Zambia, and China. In 2015–2016, TAZARA’s annual freight traffic reached 130,000t, from 87,000t in 2014–2015, representing an increase of 49%.

Sunday, September 4, 2016

Tanzania Pension Fund Loan USD2.1m to Biotech Industrial Project




The National Social Security Fund (NSSF) of Tanzania recently disbursed USD2.1m to the Tanzania Biotech Product Limited in Kibaha for production expansion.

The factory is under the National Development Corporation (NDC) and is designed to manufacture biotech products that kill mosquito larva.

The NSSF decision to invest in such project follows the directives of President Magufuli for pension funds to grant funds to industrial projects.

Godius Kahyarara, Director General at NSSF, said that the Fund is also considering the profitability, necessity and security of the project.

He also explained that NSSF has invested in various projects, which proved to be successful as they created employment opportunities and benefited the Fund’s members.

NSSF is Tanzania’s retirement fund of all employees that are not within any of the government pension schemes.

 NSSF is a compulsory scheme providing a wider range of benefits, financed through contributions at the rate of 20% of employees’ salary.

Consequently, all funds collected are wholly invested for the purpose of financing benefit payments. NSSF Tanzania Projects Some of NSSF’s investment projects include:

The Kigamboni Bridge, which is a Joint Venture project between the Fund (60%) and Government (40%) Real estate projects, including the Dege Eco Village, the Kiluvya Hills and Mtoni Kijichi Kahyarara said that the NSSF has also invested in factories in Mbeya (for cement), Kagera (sugar) and Morogoro (textiles).

International Tanzanite Auction Generate USD3.5m

The First International Tender Auction for rough and cut Tanzanite organized by the Government of Tanzania generated almost USD3.5m. The auction was held in Arusha, northern Tanzania, on August 9th–12th 2016. A total of 330,553.17 grams of rough and 3,274.70 carats of cut Tanzanite was brought for sale by 5 Tanzanite mining companies: Tanzaniteone Mining Company Ltd, Franone Mining and Gems Company, Tanzanite Africa Ltd, Chusa Mining Ltd and Laizer & Partners. 43 companies attended the tender auction, from 8 countries including Tanzania, Kenya, India, China, the US, the UK, Thailand and the UAE. After the tendering process, 96% of all rough Tanzanite and 100% of cut Tanzanite tendered were sold. A total of 318,033.17 grams of rough and 3,274.70 of cut Tanzanite was sold for USD2.9m and USD547,786 respectively, while the Government earned USD173,203 in royalties. The Tanzanian Government has held the auction in an attempt to curb tanzanite smuggling. James Mdoe, Deputy Permanent Secretary in the Ministry of Energy and Minerals of Tanzania, explained that with local auctions, trafficking tanzanite to neighboring countries would be contained because buyers would have the opportunity to come and purchase them personally. He added that through the auction, revenue would be collected more easily since the auction takes place in one area. Tanzanite Tanzanite is found at only one location in the world, the Mererani Hills of Manyara Region in Northern Tanzania. The production of tanzanite rose by 17% during 2008–2013, from 768t to 900t, while discovered reserves amount to 500m carats. In 2015 tanzanite exports reached USD4.4m and generated USD223,979 in royalties. The Government of Tanzania also intends to set a Tanzanite Export Processing Zone (EPZ) in Mererani Hills, which is expected to further reduce tanzanite smuggling.

Read more at: http://www.tanzaniainvest.com/mining/tanzanite-international-auction-2016 and follow us on www.twitter.com/tanzaniainvest The First International Tender Auction for rough and cut Tanzanite organized by the Government of Tanzania generated almost USD3.5m.


The auction was held in Arusha, northern Tanzania, on August 9th–12th 2016. A total of 330,553.17 grams of rough and 3,274.70 carats of cut Tanzanite was brought for sale by 5 Tanzanite mining companies: Tanzaniteone Mining Company Ltd, Franone Mining and Gems Company, Tanzanite Africa Ltd, Chusa Mining Ltd and Laizer & Partners.

 43 companies attended the tender auction, from 8 countries including Tanzania, Kenya, India, China, the US, the UK, Thailand and the UAE.

After the tendering process, 96% of all rough Tanzanite and 100% of cut Tanzanite tendered were sold.


 A total of 318,033.17 grams of rough and 3,274.70 of cut Tanzanite was sold for USD2.9m and USD547,786 respectively, while the Government earned USD173,203 in royalties.

The Tanzanian Government has held the auction in an attempt to curb tanzanite smuggling.

James Mdoe, Deputy Permanent Secretary in the Ministry of Energy and Minerals of Tanzania, explained that with local auctions, trafficking tanzanite to neighboring countries would be contained because buyers would have the opportunity to come and purchase them personally.

He added that through the auction, revenue would be collected more easily since the auction takes place in one area.

Tanzanite Tanzanite is found at only one location in the world, the Mererani Hills of Manyara Region in Northern Tanzania. The production of tanzanite rose by 17% during 2008–2013, from 768t to 900t, while discovered reserves amount to 500m carats.

 In 2015 tanzanite exports reached USD4.4m and generated USD223,979 in royalties.

The Government of Tanzania also intends to set a Tanzanite Export Processing Zone (EPZ) in Mererani Hills, which is expected to further reduce tanzanite smuggling.


Saturday, August 27, 2016

Tanzania Purchase 2 Bombardier Q400 Aircraft




The Government of Tanzania recently signed a purchase agreement for two Q400 aircrafts with Canadian manufacturer Bombardier.

The aircrafts will be delivered with a 76-seat configuration at the price of USD62m. They will be used for commercial airline operations by Air Tanzania Company Limited (ATCL), the national carrier of Tanzania.

“Tanzania is a large country with some challenging airfields, and the Q400 turboprop’s capability to operate at these airports, its jet-like speed, long-range cruise capability and outstanding turboprop economics were key factors that guided us in selecting the aircraft for our operations,” said Leonard Chamuriho, Permanent Secretary at the Ministry of Transport, Works and Communication of Tanzania.
“The Q400 aircraft is a showcase for the continent, where it has proved itself to be extremely efficient as well as cost-effective,” said Jean-Paul Boutibou, Vice President of Sales – Middle East and Africa at Bombardier Commercial Aircraft.

The purchase is part of ATCL’s plan to expand in Tanzania and the African region. Air Tanzania ATCL is the flag carrier airline of Tanzania based in Dar es Salaam with its hub at Julius Nyerere International Airport (JNIA). It was established as Air Tanzania Corporation (ATC) in 1977 and wholly owned by the Tanzanian Government until 2002 when it was partially privatized.

The Government therefore reduced its shareholding to 51% and entered into a partnership with South African Airways. The partnership ended in 2006 when the Government of Tanzania repurchased the shares and the airline became once again a wholly owned government company. Currently (2016), Air Tanzania flies only to Kigoma and Comoros but it plans to launch at least 11 new routes, including Dodoma, after the 2 new aircrafts are delivered.

More Than 37 Companies Confirmed at the Tanzania Financial Services Expo 2016: 10–11th November




More than 37 companies have confirmed to participate in Tanzania Financial Services Expo (TFSE) 2016, an event aimed at educating the public about the benefits of financial services.

TFSE will be held in Dar es Salaam at the Diamond Jubilee Hall Exhibition Centre on the 10th and 11th November 2016, and hosted by Mikono Speakers International, a multisectoral consulting firm in Africa.

Participants include insurance companies, banks, social security funds, microfinance institutions and payment gateway solution providers. According to Mikono’s latest update, 105 exhibitors are expected to participate from more than 10 countries, of which 90% will be local companies. Mikono Speakers International’s Managing Director Deogratius Kilawe, Managing Director of Mikono Speakers, comments: “The event is a first of its kind and the largest African financial services affair to take place on a space of 5,000m2 -7,000 m2. We have already signed memorandum of understanding with 50 media partners. An amount of TZS150m has been set aside for media coverage.”


The TFSE 2016 program includes the following sub-expos:

 Payment Solution Expo 2016 Mortgages Business Expo 2016 Tanzania Commercial Finance Expo 2016 Insurance Expo 2016 Social Security Fund Expo 2016 Venture Capital Expo 2016

Tuesday, August 23, 2016

Mnazi Bay Gas Production Improve in Q2 2016






East Africa-focused oil & gas company Wentworth Resources (OSE:WRL, AIM:WRL) announced improvements of gas production at Mnazi Bay in Q2 2016 by +6.25%. The Mnazi Bay achieved average gross daily gas production of 51m standard cubic feet (MMscf) per day in Q2 2016, compared to 48MMscf in Q1 2016 (+6.25%). 

This was indicated in Wentworth’s press release issued on August 16th 2016. Geoff Bury, Wentworth Managing Director comments: “In Tanzania, Wentworth has seen significant growth in gas sales since the start of operation of the new pipeline in August 2015. 

This provides the Company with consistent cash flow to fund our ongoing activities, service our debt facility and to build cash reserves.” As of December 31st 2015, Maurel & Prom (M & P) holds 60.075% interest in exploration ownership in the Mnazi Bay Concession, while Wentworth Resources holds the remaining 39.925%. 
Wentworth also owns a 31.94% working interest in operations on the block together, M & P owns 48.06%, and Tanzania Petroleum Development Corporation (TPDC) owns 20%. Mnazi Bay Gas Production Mnazi Bay gross Proved + Probable (2P) gas reserves are 181.1Bscf as of December 31st 2015. M & P supplied an average of 49m cubic feet (MMcf )of natural gas per day in H1 2016.
 On September 12, 2014, the Mnazi Bay partners signed a Gas Sales Agreement (GSA) with TPDC to deliver up to 130mmcf/day of natural gas from the Mnazi Bay concession to the new government owned Mtwara to Dar es Salaam gas pipeline. 

company’s first gas delivery to the new natural gas pipeline commenced on August 20th 2015. Mtwara-Dar es Salaam Gas Pipeline The development of the Mtwara-Dar es Salaam gas pipeline included the construction of Madimba Processing Centre, which is operated by state-run Gas Supply Company Limited (GASCO). The pipeline and processing plant are part of the Government’s program to add over 2,000 MW of new gas-fired power by 2018 and total 10,000 MW of generation capacity by the year 2025 up from the 1,500 MW in 2015. The aim is to reduce dependency from hydropower, representing 33% of Tanzania’s power generation in 2014 and whose capacity has been affected by recurring droughts that are hitting the country.


 East Africa-focused oil & gas company Wentworth Resources (OSE:WRL, AIM:WRL) announced improvements of gas production at Mnazi Bay in Q2 2016 by +6.25%. The Mnazi Bay achieved average gross daily gas production of 51m standard cubic feet (MMscf) per day in Q2 2016, compared to 48MMscf in Q1 2016 (+6.25%). This was indicated in Wentworth’s press release issued on August 16th 2016. Geoff Bury, Wentworth Managing Director comments: “In Tanzania, Wentworth has seen significant growth in gas sales since the start of operation of the new pipeline in August 2015. This provides the Company with consistent cash flow to fund our ongoing activities, service our debt facility and to build cash reserves.” As of December 31st 2015, Maurel & Prom (M & P) holds 60.075% interest in exploration ownership in the Mnazi Bay Concession, while Wentworth Resources holds the remaining 39.925%. Wentworth also owns a 31.94% working interest in operations on the block together, M & P owns 48.06%, and Tanzania Petroleum Development Corporation (TPDC) owns 20%. Mnazi Bay Gas Production Mnazi Bay gross Proved + Probable (2P) gas reserves are 181.1Bscf as of December 31st 2015. M & P supplied an average of 49m cubic feet (MMcf )of natural gas per day in H1 2016. On September 12, 2014, the Mnazi Bay partners signed a Gas Sales Agreement (GSA) with TPDC to deliver up to 130mmcf/day of natural gas from the Mnazi Bay concession to the new government owned Mtwara to Dar es Salaam gas pipeline. The company’s first gas delivery to the new natural gas pipeline commenced on August 20th 2015. Mtwara-Dar es Salaam Gas Pipeline The development of the Mtwara-Dar es Salaam gas pipeline included the construction of Madimba Processing Centre, which is operated by state-run Gas Supply Company Limited (GASCO). The pipeline and processing plant are part of the Government’s program to add over 2,000 MW of new gas-fired power by 2018 and total 10,000 MW of generation capacity by the year 2025 up from the 1,500 MW in 2015. The aim is to reduce dependency from hydropower, representing 33% of Tanzania’s power generation in 2014 and whose capacity has been affected by recurring droughts that are hitting the country.

Read more at: http://www.tanzaniainvest.com/energy/mnazi-bay-gas-production-q2-2016 and follow us on www.twitter.com/tanzaniainvest 

Monday, August 22, 2016

Tanzania among Africa Top Investment Destinations, Report Indicates




Tanzania was among the leading investment destinations in Africa in 2015, the recently published 2016 African Economic Outlook (AEO) indicates.

The AEO presents the current state of economic and social development in Africa and projects the outlook for the coming two years.

The AEO is a product of collaborative work by three international partners: the African Development Bank (AfDB), the OECD Development Centre and the United Nations Development Programme (UNDP). 
The top 10 African investment destinations in 2015 were: 
Egypt (USD10.2b) 
Mozambique (USD4.7b) 
Morocco (USD4.2b) 
South Africa (USD3.6b) 
Ghana (USD2.5b)
 Democratic Republic of the Congo (USD2.5b)
 Zambia (USD2.4b) 
Tanzania (USD2.3b) 
Ethiopia (USD2.1b) 
Guinea (USD1.9b) and Kenya (USD1.9b) In East Africa, Tanzania (USD2.3b) and Uganda (USD1.3b) received stable investments in 2015 despite their lack of significant resources, according to the report. Still, Tanzania and the other East African countries are economically more diverse than resource-rich countries and relatively well-integrated as a region. East Africa, together with West Africa, is also among the continent’s leading recipients of official development assistance from all recorded donors. Ethiopia (USD3.6b), Kenya (USD2.7b) and Tanzania (USD2.6b) topped the list in East Africa, while Nigeria (USD2.5b)was the leader in the West.




Tanzania Investment Centre (TIC) is the primary agency of the Government to coordinate, encourage, promote and facilitate investment in Tanzania. 
On 23rd March 2015, TIC and the Investment Climate Facility for Africa (ICF) signed an agreement worth USD950,000 on a project to further increase investments in the country. 

This will be achieved by expanding, consolidating and promoting the Tanzania Investment Window (TIW). The TIW allows investors to register companies and to obtain investment certificates, work permits and tax exemptions on-line. The agency is now looking to promote further investment in key economic sectors.




 Tanzania was among the leading investment destinations in Africa in 2015, the recently published 2016 African Economic Outlook (AEO) indicates. The AEO presents the current state of economic and social development in Africa and projects the outlook for the coming two years. The AEO is a product of collaborative work by three international partners: the African Development Bank (AfDB), the OECD Development Centre and the United Nations Development Programme (UNDP). The top 10 African investment destinations in 2015 were: Egypt (USD10.2b) Mozambique (USD4.7b) Morocco (USD4.2b) South Africa (USD3.6b) Ghana (USD2.5b) Democratic Republic of the Congo (USD2.5b) Zambia (USD2.4b) Tanzania (USD2.3b) Ethiopia (USD2.1b) Guinea (USD1.9b) and Kenya (USD1.9b) In East Africa, Tanzania (USD2.3b) and Uganda (USD1.3b) received stable investments in 2015 despite their lack of significant resources, according to the report. Still, Tanzania and the other East African countries are economically more diverse than resource-rich countries and relatively well-integrated as a region. East Africa, together with West Africa, is also among the continent’s leading recipients of official development assistance from all recorded donors. Ethiopia (USD3.6b), Kenya (USD2.7b) and Tanzania (USD2.6b) topped the list in East Africa, while Nigeria (USD2.5b)was the leader in the West.

Read more at: http://www.tanzaniainvest.com/economy/investment-africa-report and follow us on www.twitter.com/tanzaniainvest 
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