On June 10, 2023, the Tanzanian government signed and approved the Intergovernmental Agreement (IGA) with Dubai to develop the Dar es Salaam Port. This agreement paved the way for further procedures, including the concession agreement, which would facilitate cooperation between the Tanzania Ports Authority (TPA) and DP World, a multinational logistics company based in Dubai,...
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest commercial port operator, is on the verge of securing the rights to develop and manage cargo berths at the main port of Dar es Salaam in Tanzania. Reports suggest that billionaire Gautam Adani is emerging from the Hindenburg episode and making his first significant acquisition,...
In a video posted on the Russian mercenary group’s telegram channel, Prigozhin says his troops are leaving Ukraine to concentrate on Africa. He had not spoken since 24 June, in the wake of his rebellion against Vladimir Putin’s regime. In a video published on 19 July on the Wagner group’s Telegram Channel, Prigozhin announced that...
Tanzania Railways Corporation (TRC) is finalizing its long-term plan to kick-start the mega standard gauge railway project that will link Mtwara Port and the neighbouring Southern Africa Development Community (SADC) countries. This will be the third phase of the SGR railway line to be built in the country after the first one, which starts from...
The European Investment Bank (EIB) has shown interest in expanding its investment portfolio in Tanzania due to the government’s efforts to improve the business climate and stimulate investment in the country. Representatives from the EIB’s regional hub for Eastern Africa visited Tanzania’s Ministry of Finance and Planning, as well as other partners such as the...
Selling feet pictures is just another way people make a lot of money from working at home, but it is a competitive industry, and a lot of effort needs to go into it. Selling feet pictures is not any different to photographers selling their pictures; it just so happens to be their feet selling the...
Kenya has ended a five-year slide in foreign direct investment after it attracted deals worth Sh107 billion in 2022 but was still beaten by Tanzania, Uganda and Ethiopia in the race to attract investors. Findings of an annual survey by the UN Conference on Trade and Development (UNCTAD) suggest that foreign direct investment flows into...
Tanzania’s private sector has experienced robust growth in credit extension, driven by improved business conditions and supportive fiscal and monetary policies, as the Bank of Tanzania (BoT) reported in its Monthly Economic Review for June 2023. In May 2023, private sector credit exhibited a significant year-on-year growth of 22.5%, compared to 15% in the same...
According to the Iranian envoy, trade between Iran and Tanzania has witnessed significant growth. In the fiscal year 2021/22, Tanzania’s imports from Iran increased by 35 per cent compared to the 2019/20 financial year, amounting to goods worth $35 million (Sh82.25 billion). Conversely, Iran’s exports to Tanzania during the same period reached $95 million (Sh223.25...
The latest Henley Passport Index, a Global passport ranking, has placed the Tanzanian passport in the second position scoring 101 trailing behind the Kenyan passport, which was placed in the 98th position. The Kenyan passport has dropped its position in the latest Index ranking, despite recent efforts by the government to secure more friendly bilateral ties,...