In a significant move, Saudi Arabia is poised to enter into agreements worth SR2 billion ($533 million) with various African countries. This announcement was made by the Kingdom’s Finance Minister, Mohammed Al-Jadaan, during the Saudi-Arab-African Economic Conference in Riyadh. These agreements will be facilitated through the Kingdom’s Fund for Development and will encompass a diverse...
Air Tanzania Company Limited (ATCL) has announced its intention to increase its fleet to 17 aircraft early next year, aiming to enhance both domestic and international travel options. The current state-owned airline boasts a fleet of 13 aircraft, including one Dash 8-Q300, five Dash 8-Q400s, four Airbus A220-300s, two Boeing 787-8 Dreamliners, and one Boeing...
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...
The Mtwara port in the south of Tanzania, famously for exporting tons of cashew nuts, is now crowded with vessels from Europe grappling to load coal to Europe to counter the prevailing energy crisis. Traditionally, Tanzania exports coal to its neighbouring countries in East Africa. Sending it further afield was out of the question, as...
Six months before the contest begins, every family chooses one unmarried man to prepare for the challenge. He goes into a hut where he drinks cow’s blood and milk, and he must not have sex while he prepares for the contest. He drinks blood at sunrise quickly before it coagulates, but this is not a...
She made this intriguing remark during her birthday celebration, and this comment made her a national celebrity in the USA. Taken aback by all the attention, she said she was only doing what her mother had taught her since childhood. “My mother always told us it takes six months to tend to your business. And...
Their numbers are growing faster than the transactions they handle. A decade ago, Jackeline Muheirwe was the only mobile-money agent in her patch of Kampala, the Ugandan capital. These days there are ten others within a minute’s walk, taking in and giving out cash from shopfronts or colourful kiosks. “You can’t make money out of...
South Africa has been recognised as the most entrepreneurial country, followed by Rwanda and Morocco in second and third place, respectively. The 2021 rankings placed Kenya fourth ahead of Nigeria in fifth place. A new report compiled by the CEOWORLD magazine has found the best African countries to become an entrepreneur. The Entrepreneurship Index evaluates 100...
Urbanization, Industrialization, population, and job opportunities promote rapid growth in any place in the world. Similarly, as the population of Africa has increased over the years, cities with high levels of Industrialization, urbanization, and economic activities experience immigration and a fast-growing rate. According to Brahima Coulibaly, director of Brookings’ Africa Growth Initiative, “About half of...
Africa is one of the fastest-growing continents in the world. The continent has been bedevilled with infrastructure projects, but some African countries are currently bent on developing by investing heavily in infrastructural projects. Some infrastructural development includes roads. The citizens know how essential roads are to access quality and important services such as health care,...