An expansion in air connections, including low-cost routes, is expected to help sustain Tanzania’s growth in visitor numbers and strengthen its tourism sector. Last month the UAE-based low-cost carrier flydubai announced that from late October it will launch six flights per week between the UAE and Kilimanjaro, the site of Africa’s tallest peak. The airline already operates services to Dar es…
A new draft budget released in Tanzania last month emphasises capital projects as a means to further boost industrial activity in what is already one of Africa’s fastest-growing economies. The draft budget for FY 2017/18, tabled on June 9 by the Ministry of Finance and Planning (MoFP), aims to raise real GDP growth to 7.1% in 2017, up from 7% the previous year, while shrinking the budget deficit…
Tanzania has come a step closer to setting out the terms for the construction of a liquefied natural gas (LNG) project, which has the potential to bring about major economic gains if realised. In mid-April a consortium of international oil companies submitted a draft heads of terms to the government for a proposed $30bn LNG plant and export terminal…
Official Conference of East Africa’s largest trade show in the power and energy sector: POWER & ENERGY Africa 2017. Network with over 4200 industry professionals from 22 countries Listen to top officials deliver master class key notes on how to access the overwhelming potential in Kenya’s energy industry. Analyse how technology is transforming the energy sector. Discuss the role of clean…
Tanzania’s microinsurers could benefit from strong growth, with some domestic players looking to expand operations and recent pro-consumer reforms expected to support further take-up and deepen insurance penetration. In March Jamii, a local start-up offering micro-health insurance services, announced ambitious plans to expand into East and Central Africa this year. Launched in January 2015, Jamii…
Mobile money has seen impressive growth in Tanzania in recent years, emerging as a key facilitator of financial inclusion, while agency banking is showing promise as a route to new customers for banks. The number of Tanzanians with mobile money accounts rose to 18.08m – or 35% of the population – by the fourth quarter of last year, according to the Tanzania Communications Regulatory Authority,…
National efforts to modernise Tanzania’s underdeveloped agricultural industry received a major boost at the end of 2016, in the form of a $93.5m loan from the African Development Bank. The funding, which was approved in December, will support the state-owned Tanzania Agricultural Development Bank (TADB) in reaching its target of issuing loans to 1m farmers in the five-year period up to and including…
In a bid to satisfy growing demand for power, Tanzania has ramped up investment in alternative energy schemes, with a focus on smoothing regional disparities. A spate of recent agreements is expected to raise access to electricity to 75% of the population by 2035 as part of the government’s Power System Master Plan. According to official estimates, about 40% of the country’s 47m people had access…
A drive to improve Tanzania’s transport infrastructure is gathering momentum, with billions of dollars of funding being put towards the development of the country’s rail network. The initiative includes both an upgrade to existing tracks and new rail lines that will be laid along the country’s central transport corridor and beyond, with work slated to begin before the end of the current fiscal…
Tanzania’s efforts to improve its infrastructure have led to a search for new revenue streams, which may impact growth in the tourism sector over the near term. As part of a package of reforms aimed at funding an overhaul of the road, rail and air networks, in July the government removed a value-added tax (VAT) exemption for tourism services, which are now subject to 18% VAT. Financial services…
