Rwanda’s President Paul Kagame says he might introduce a tax on church collections, seeking to tame what has turned out to be extortion and exploitative tendencies by evangelical clerics. In his first address after taking a new oath of office this week, the Rwandan head of state, strongly criticised church leaders who masquerade under the cover of God to…
A strategic campaign to drive the payments discussion forward in Africa LONDON, United Kingdom, April 28, 2024/APO Group/ — Crown Agents Bank (www.CrownAgentsBank.com), the specialist provider of foreign exchange (FX) and cross-border payments for hard-to-reach markets, and Invest Africa (www.InvestAfrica.com), a leading platform for business and investment opportunities in Africa, today announces a new collaboration, ‘The Payments Exchange’. The campaign will…
*NCBA Launches ‘NCBA Now’ App Amid Tanzania’s Economic Rise, Boosting Digital Banking Across Africa Dar es Salaam, April 26, 2024 – Tanzania is charting a course toward economic prosperity, bolstered by a foundation of stability and comprehensive sector-wide reforms under the guidance of President Dr. Samia Suluhu Hassan. This positive trajectory was underscored by Mr Nehemia Mchechu, Treasury Registrar,…
Businesses across the world are under increased pressure from regulators and the civil society to adopt sustainable business practices to complement the global climate change mitigation efforts. Studies show that consumers are also becoming increasingly environmental conscious, seriously scrutinising the environmental impact of the products and services they consume and steering clear of businesses they deem ‘unsustainable’. This has…
Tanzania’s High Commissioner to Nigeria, Dr Benson Bana said it was enthralling to see the bank scooping a number of international awards. Lagos. CRDB Bank PLC scooped four awards in the 5th Africa Procurement and Supply Chain Awards (APSCA) held in Lagos, Nigeria yesterday. A statement released by the bank said the institution won award on excellence in procurement…
TANZANIA has the potential of transforming its economy and become a leading nation in Africa if will properly implement agroforestry programme. Minister of State, Vice-President’ Office (Union and Environment), Dr Selemani Jafo said that agroforestry is a key tool for both climate change mitigation and adaptation, as trees help store large amount of carbon. He made the remarks during the launch…
Summary The new program to strengthen Zanzibar’s horticulture market is expected to substantially increase economic opportunities in horticulture sector Zanzibar. The US government in partnership with Zanzibar have unveiled a new programme to strengthening Zanzibar’s horticulture market systems and promoting. Dubbed Feed the Future Tanzania Kilimo Tija Activity, the project is expected to increase economic opportunities in horticulture, with…
All around the world, a backlash is brewing against the hegemony of the US dollar. Brazil and China recently struck a deal to settle trade in their local currencies, seeking to bypass the greenback in the process. India and Malaysia in April signed an accord to ramp up usage of the rupee in cross-border business. Even perennial US ally France is starting…
Summary The President of AfDB, Dr Akinwumi Adesina said the banks will access the critical financial resources to income generation projects run by the youth. The African Development Bank (AfDB) is seeking to establish youth entrepreneurship investment banks across the continent. The proposed financial institutions will finance young people’s innovations in creating wealth. This was announced on the sidelines…
LogRhythm has partnered with eFinance to rapidly detect and mitigate threats in Egypt’s digital payment security ecosystem with LogRhythm SIEM, LogRhythm’s security information and event management (SIEM) solution. LogRhythm will secure eFinance’s operations across the entire Egyptian payment network and establish its reputation as a trusted fintech provider throughout the region. By adding LogRhythm SIEM into its security systems, eFinance benefits…
Summary Retail prices of petrol and diesel imported through the Dar es Salaam port have increased by Sh90 and Sh24 per litre respectively. Dar es Salaam. Retail prices of petrol and diesel imported through the Dar es Salaam port have increased by Sh90 and Sh24 per litre respectively. According to the new fuel cap price released by the Energy…
Summary The reinstatement comes seven years after the removal of the system of annual salary increase by the late John Magufuli in 2016. Dar es Salaam. President Samia Suluhu Hassan has announced the reinstatement of the annual salary increase for public service employees. Her announcement comes seven years after the removal of the system of annual salary increase by…
Dar es Salaam has been ranked as the 85th wealthiest city in the world and 12th in Africa, boosted by growth in the number of high net worth individuals (HNWI) by 20 percent in the last decade. The World’s Wealthiest Cities 2023 report by consultancy New World Wealth and Henley Partners placed Tanzania’s commercial capital city among the top…
Maria Nkhoma, who lives in the southern Malawi district of Balaka, recalls a time she would miss classes because there wasn’t enough food at home. With no food, the 17-year-old who is now in secondary school would remain at home to take care of domestic chores as her parents went around in search of menial jobs to feed their…
African Guarantee Fund and the Clean Cooking Alliance (CCA) have launched a partnership to promote financial innovation, access to responsible carbon finance, and investments in clean cooking companies and programs. In line with our mission, AGF will work through selected financial institutions to carry out the goals of the partnership. Both organizations will focus on markets in East, Southern,…
Summary President Samia Suluhu Hassan’s pro-business approach has restored domestic and foreign investors’ trust and confidence Dar es Salaam. The ongoing efforts to improve Tanzania’s business climate have had a positive outcome on the attraction of investments, with latest data showing a 173 percent rise in the amount invested in the country during the past two years. Data from…
Summary Called ‘The Barrick-Twiga Future Forward Education Program”, the objective is to build 1,090 classrooms, 1,640 ablution blocks and 270 dormitories across 161 schools nationwide Barrick Gold is pledging $30 million (about Sh70 billion) in support of the government’s plan to expand the education infrastructure in Tanzania. The affirmation was reached during yesterday’s meeting between Barrick president and chief…
Dar es Salaam. Tanzania has become a hub for food exports, feeding countries in the African region as well as rest of the world, latest statistics from the Bank of Tanzania (BoT) and the Ministry of Agriculture show. The central bank data shows that in the period of five years from 2018 to 2022 the country sold vegetables worth…
Egypt has joined Africa Finance Corporation, the continent’s infrastructure solutions provider, as the first North African sovereign shareholder, further diversifying AFC’s expanding equity investor base. Egypt’s Minister of Finance, H.E. Dr Mohamed Maait. PH0T0 | Supplied An AFC Member State, Egypt’s equity commitment and its imminent representation on the AFC Board of Directors enhances the Corporation’s pan-African spread of…
President Joe Biden delivers remarks at the US – Africa Leaders Summit in Washington, DC. Photo: KEVIN DIETSCH US President Joe Biden has announced an agreement aimed at bolstering trade ties between the United States and Africa after years in which the continent took a back seat to other US priorities as China made inroads with investments and trade….
The Rai family has extended its dominance in the sugar sector with the opening of the Naitiri factory, which has now pushed its share of sales to nearly half of the entire production. Data from the Sugar Directorate indicates that the four milling firms owned by billionaire Rai accounted for 45 percent of the total sugar sales in the…
SIR: The harder things get in Nigeria, the more desperate people become to make it especially as the signs are that the immediate future is not looking up. Nigeria‘s grim economic situation which continues to feed families into the shredder of poverty and economic ruination everyday has led to the proliferation of many so-called financial experts, advisors and whatever else…
COP27 also referred to as “African COP” gives African countries opportunity to address dire consequences of climate change in Africa. COP27 Egypt will go down in history as the conference that saw Tanzania’s renewable energy ambition cast before the world. President Samia Suluhu Hassan presented the energy transition plan encompassing other southern African countries as it maximizes electricity generation…
Leading private education provider in Tunisia and Morocco Holged is planning to expand to Kenya and other African countries after securing funding from Africa50, a Pan-African infrastructure investment platform. The firm offers a K-12 education system, an American tutoring system that includes kindergarten and 12-years of basic education such as six-years primary education, four-years junior high school, and two-years…
Sino-African relations have been cemented at all levels, from the political and economic to the commercial, cultural and other spheres. If you walk down a street in any African country and ask people their opinion about China, they will more likely than not say that China is a country that helps African nations achieve economic growth, create jobs and…
What you need to know: The agreement dubbed ‘Agreement on Avoidance of Double Taxation and Prevention of Fiscal Evasion on Income Taxes’ was signed by Finance ministers of the two countries–Dr Mwigulu Nchemba for Tanzania and Mr Mohamed Bin Hadi Al Hussain of the UAE. Dar es Salaam. Tanzania and the United Arab Emirates (UAE) have signed an agreement…
TANZANIA Bureau of Standards (TBS) has signed an agreement with TradeMark East Africa (TMEA) worth 9bn/- to help traders do business basing on standards for easy access to the market. Speaking after inking the deal, TMEA Country Resident, Ms Monica Hangi said the agreement targets to ease business and solve challenges caused by business impediments and non-tariff barriers. She…
EFFORTS by President Samia Suluhu Hassan to promote Tanzania continue to pay off and witnessed some 19 USA companies readiness to explore investment opportunities in the country. According to a statement issued on Tuesday the U.S Embassy in Dar es Salaam and the U.S Commercial Service, representative of the 19 companies will be among participants in a two-day fact-finding…
Dr Akinwumi Adesina, President of the African Development Bank (AfDB) Group says the bank will provide 12.5 billion dollars to support the Africa Adaptation Acceleration Programme (AAA-P). The AfDB president disclosed this via his verified twitter handle @akin_adesina on Wednesday. The AAA-P is Africa’s own programme, supported by African Heads of State, to mobilise more resources for climate change,…
TAMFI: Nine microfinance institutions commit to affordable lending for water and sanitation Dar es Salaam, 25, July 2022 Tanzania Association of Microfinance Institutions (TAMFI) and Water.org have signed a Memorandum of Understanding with nine financial institutions which have committed to start offering credit services for water supply and sanitation services in an initiative known as Water Credit Adoption Program…
The European Parliament on Thursday backed a report advocating the use of trade policy to equalize relations between African countries and the European Union. “For too long, Africa has been reduced to a supplier of raw materials, with the result that the continent’s immense economic potential remains untapped,” Kathleen Van Brempt, a Belgian Social Democrat member of the European…
KIGALI, June 23 (Reuters) – Africa must wean itself off dependence on food and medicine imports, the president of the African Development Bank (AfDB) said, as the institution approved creation of a pharmaceutical tech foundation and began processing requests for food relief. Africa was hit hard by the economic fallout from the coronavirus pandemic. Now, as many countries are still struggling…
Summary The President of African Development Bank (AfDB), Akinwumi Adesina, said on Wednesday the multilateral lender would soon establish investment banks for young entrepreneurs on the continent, IgbereTV reports Adesina, who stated this at the Commonwealth Business Forum in Kigali, Rwanda, criticized the structure of the existing commercial banks on the continent. He said the current financial institution model…
Summary The crypto market, known for its wild price swings, has shed more than half of its value since November last year as investors pulled out money from riskier assets amid worries over soaring inflation and rising interest rates. The ongoing meltdown in the cryptocurrency industry could push an estimated four million Kenyans who hold the digital assets deeper into…
The Board of Directors of the African Development Bank approved the creation of a virtual academy to build public financial management capacity in African countries. Countries will receive technical assistance through structured, targeted, dedicated and local training as well as through policy dialogue. The academy, hosted within the African Development Institute of the African Development Bank Group, will deepen…
Summary Investment in Tanzania brings a much wider scale of benefits to the economy especially after the government reshuffled the investment sector Tanzania is one of the most attractive investment destinations LNG is one of Tanzania’s hot investment pockets Tanzania-Uganda are now oil economy partners Tanzania is one of the most attractive places for investors in Africa including East…
Summary The project involves upgrading of the current 84km two-way single bitumen road to a two-lane dual carriage way, and is expected to ease access to the northern corridor by reducing time by about 26 percent and cost by 35 percent. Dr Adesina will inspect the Kenol-Sagana-Marua highway project, which is co-financed by AfDB to the tune of $191…
Summary The lobby reckons that the volatility in the exchange rate market has slowed dollar trading among lenders or interbank deals, further worsening the scarcity of the US currency. The shortage of dollars is triggering the emergence of parallel exchange rate that has seen lenders buying and selling well above the printed official rate, the manufacturers’ lobby has warned….
Summary Tanzania’s economy shrunk from 6.8 percent growth to 4 percent after Covid-19, even though the country, unlike its neighbours, did not go on a lockdown and did not initially order compulsory mask wearing, nor tap into vaccines. President Samia Suluhu Hassan has defended her usage of loans from multilateral lenders, telling an audience in Accra that the institutions…
The decision came as the continent, a net importer of food, faces rising prices of products after the main suppliers—Ukraine and Russia—went to war earlier this year, disrupting production and supply to the global market. According to the Bank, Africa’s demand for food means that the continent faces a shortage of up to 30 million metric tonnes this year,…
The African Development Bank (AfDB) has approved a $1.5 billion emergency programme to alleviate the impact of worsening food insecurity due to the Ukraine war, its director said on Monday. About 20 million farmers on the continent will benefit from the fund as Africa faces a shortage of at least 30 million metric tonnes of food, especially wheat, maize,…
Over 100 local firms have benefited from EU investments, and are involved in various areas, including agriculture, energy, logistics, trade facilitation, education, capacity building and good governance Over 150,000 Tanzanians have secured employment in firms which won investments from the European Union (EU). There are over 100 of them active in agriculture, energy, logistics, trade facilitation and education and…
The second round will launch with business and financial training for more than 50 delegates Dar es Salaam: The Bloomberg Media Initiative Africa (BMIA) has today announced the second intake of its Financial Journalism Training (FJT) program in Tanzania, which will train journalists and media professionals in business and financial journalism, to bolster the country’s financial reporting industry. The…
African investment in the stock market has traditionally been reserved for a particular set of elite people Over the years, the continent’s FX market has been growing exponentially largely driven by the increased access to mobile devices and internet connections across the region While retail forex trading in Africa may only represent a small segment of the global currency…
More than half of the dollar millionaires (1300) reside in the commercial capital Dar es Salaam as the city was ranked 12th richest, with total private citizens wealth of $24 billion (Sh55 trillion). Tanzania is home to East Africa’s only dollar billionaire, this is according to the latest report by research firm New World Wealth and Henley & Partners which…
Summary US Deputy Assistant Secretary of State Akunna Cook said the country has not done enough in deepening its presence in a continent with 1.3 billion people. “If I were to take away one challenge, it is really a challenge to us in the US Government to really step our game up,” Ms Cook told reporters in Johannesburg, South Africa….
– United States Congressman Gregory Meeks has warned that the United States will only be part of the future if it invests in Africa now. The congressman from New York and Chairman of the US House Foreign Affairs Committee was speaking during a visit to the African Development Bank Group on Saturday, as he and a team of congressional colleagues concluded a tour…
A young African working hard to earn his pay Business Insider Africa presents 10 African countries where workers earn the highest average monthly salaries, according to Salary Explorer. These average salaries were calculated using feedbacks provided by some respondents, and as such can only serve as indicators. Is your country among the top ten countries where workers can earn…
African Development Bank, AfDB, President, Akinwumi Adesina, has revealed that Africa’s public debt, currently estimated at $546 billion, represents one-quarter of the continent’s GDP and is higher than the combined total annual government revenues of $501 billion. Speaking , weekend at the African Union Summit in Addis Ababa, Ethiopia, Adesina said the African Development Fund, the Bank Group’s concessional…
Can disruption be both devastating and inventive. Harvard professor Clayton Christensen believed so. And it makes sense. It begins when a firm targets overlooked – typically low-profitability – segments of a market, or creates a new market where none existed, and offers low-cost solutions. The entrant gains a foothold, eventually moves up-market and soon co-opts mainstream customers: the entire…
For SMEs in Africa the effects of the pandemic have exacerbated a woefully under-financed area of the economy, but by cultivating the right environment and encouraging SMEs to formalize their operations, hybrid financing might provide the key to recovery Workers at an apple factory in South Africa It is tough being a small and medium enterprise (SME) in Africa,…
Zanzibar’s President Hussein Ali Mwinyi looks on during the signing of the MoU with the Oman Investment Authority at State House Zanzibar on Thursday, January 20, 2022. The government of Zanzibar and the Oman Investment Authority has signed a memorandum of understanding to study the feasibility of a project to rehabilitate, develop and operate the Malindi Tourist Port, the…
Dar es Salaam, Tanzania 24th December 2021 –Equity Bank Tanzania has announced the appointment of Ms. Isabel Maganga as the new Managing Director in an acting capacity with effect from 23rd December 2021. Ms. Maganga is a career banker with over fifteen years of experience. She holds a Master of Science in Finance and Investments from Coventry University, a…
The 14th edition of the MEM, Addressing Macro and Gender Imbalances, highlights how Malawi’s economic growth for 2022 is projected to pick up to 3% LILONGWE, Malawi, Closing the wide gender gap in economic opportunities could lift more people out of poverty and unlock Malawi’s full inclusive growth potential, the latest World Bank Malawi Economic Monitor (MEM) shows. The…
NAIROBI, Kenya. When the first case of COVID-19 was detected in Kenya in March 2020, it marked the beginning of a long journey of business uncertainty, disruption and great anxiety for entrepreneurs of all categories. It was especially hard for micro-enterprises and other small businesses, which traditionally do not have cash reserves or multiple income streams, to cushion them …
Ms. Fal joined the African Development Bank as Principal Legal Counsel in the procurement unit (1998-2007) and subsequently served as Manager in charge of the reform implementation team in the office of the President ABIDJAN, Ivory Coast, The African Development Bank Group (www.AfDB.com) is pleased to announce the appointment of Ms. Yacine FAL, currently Director General, Cabinet Office of…
The Ecobank Fintech Challenge is a flagship event of the Ecobank Group to support and enthuse early stage fintechs from across the African continent ACCRA, Ghana, The leading pan-African Banking Group, Ecobank Group (www.Ecobank.com), announces that Trove Finance, a Nigerian-based global share dealing app, is the winner of the fourth edition of the annual Ecobank Fintech Challenge. The winner…
Despite the persistence of the COVID-19 pandemic, the economy is recovering WASHINGTON D.C., United States of America, Despite the COVID-19 pandemic, the rebound in economic activity is stronger than initially projected, supported by higher-than-envisaged mining production and the recovery in non-extractive growth; The conclusion of the first review under the ECF arrangement enables the immediate disbursement of US$212.3 million…
The Bank will continue to promote the development and deepening of African capital markets through the issuance of local currency-denominated debt ABIDJAN, Ivory Coast, The 2022 borrowing program of the African Development Bank has been approved by the Board of Directors for up to $10 billion to be raised from the capital markets. The African Development Bank is…
Prior to the pandemic, Kenya saw strong growth in employment among the higher-skilled services sub-sectors NAIROBI, Kenya, Kenya has a very dynamic private sector, with a relatively high entry rate of new firms, in comparison to other countries with similar levels of per capita income. These firms do face challenges in terms of scaling up – most firms in…
This operation, the first in a series of two, is closely aligned with the priorities the Government outlined in its recovery strategy, Cabo Verde Ambição 2030 WASHINGTON D.C., United States of America, The World Bank approved a $30 million Development Policy Financing Operation on December 6 to support the Government’s efforts to strengthen policies for a sustainable, equitable, and…
The Minister also recalled the inauguration of the African Migration Observatory in Rabat in December 2020 RABAT, Morocco, Morocco has distinguished itself by turning the challenges of the Covid-19 crisis into opportunities, via the launch of a comprehensive program of transformative reforms, said Saturday, December 4th, in Rome, the Minister of Foreign Affairs, African Cooperation and Moroccan Expatriates, MFA…
Southern Africa is projected to grow 3.2% in 2021 and 2.4% in 2022, according to the Bank’s Southern Africa Economic Outlook PRETORIA, South Africa, Southern Africa is set for an economic rebound in 2021 and 2022, provided the Covid-19 pandemic tapers off, according to a report published by the African Development Bank (www.AfDB.org). Like elsewhere on the continent, the…
Subsistence producers must note that the type and quantities of support provided will be limited to the commodity applied for, and the size of the current operation physically verified on site PRETORIA, South Africa, The Minister of Agriculture, Land Reform and Rural Development, Ms Thoko Didiza (MP), is pleased to announce the opening on the application process of the…
South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors PRETORIA, South Africa, The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announces the adjustment of fuel prices based on current local and international factors with effect from the 1st of December 2021. South Africa’s fuel prices are adjusted on a…
This training academy will contribute to the capacity building for advancing disaster risk reduction agenda in Africa GENEVA, Switzerland, From 22-25 November 2021, a four-day Training Academy on disaster risk reduction and early warning systems took place. Experts responsible for disaster risk management and meteorological/hydrological services from the Intergovernmental Authority on Development (IGAD), IGAD Member States, Southern Africa Development Community…
Urban populations will benefit from the contribution through WFP’s Urban Resilience Building Programme which aims to reach up to 180,000 households across 19 urban domains HARARE, Zimbabwe, The United Nations World Food Programme (WFP) welcomes a US$5.7 million contribution from the United States Agency for International Development (USAID) to support people experiencing vulnerability to food insecurity across urban and…
Under the Arab Africa Trade Bridges (AATB) Program, ITFC, Afreximbank, BADEA and ARSO organized a High-level Roundtable on the Harmonisation of Standards for Pharmaceutical Products and Medical Devices in Africa during IATF 2021 in Durban The week-long event brought together government officials, policy-makers, industry leaders and institutional heads from African countries and other regions to discuss the future of…
JOHANNESBURG, South Africa/ — APO Group’s (www.APO-opa.com) Senior Account Manager Lerato Chiyangwa is all smiles with her recent accolades received in the annual Standard Bank Top Women Awards 2021 – Africa’s acclaimed business award for women. The Standard Bank Top Women Awards (www.TopBusinessWomen.co.za) recently took place where top tier South African women in business were celebrated and honoured. Thirty-one-year-old Chiyangwa…
20-Oct-2021 The African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into economic, religious, and social factors hampering access to finance for women in northern Nigeria. The research, which includes a feasibility study, women-focused design and testing, will focus on…
Micro Finance Institutions(MFIs) asked to adopt renewable energy financing models There is a high demand for renewable energy production and consumption across Tanzania, which microfinance institutions(MFIs) can unlock, as a way of addressing energy poverty, and creating a new revenue niche. That was the general assertion by workshop participants organised by the Tanzania Association of Microfinance Institutions (TAMFI) senior-level…
The Youth Entrepreneurship and Innovation Multi-Donor Trust Fund provides project preparation and co-financing for Bank projects and places great emphasis on employability, entrepreneurship and job creation Access Multimedia Content ABIDJAN, Ivory Coast, August 24, 2021/ — In June and July of this year, an African Development Bank (www.AfDB.org) technical review committee approved eight project proposals to receive funding in…
*Ths 85 million up for grabs Dar es Salaam, Tanzania Tanzania Association of Microfinance Institutions (TAMFI) has released about 24 candidates shortlisted for the 4th Citi Micro-entrepreneurship Awards(CMA) final round, narrowed down from 350 participants. Citi Foundation, in partnership with TAMFI, is running the prestigious micro-entrepreneurship competition for the fourth time in Tanzania. This year awards are linked to…
Finance In Common summit rallies 450 development banks to ramp up, deepen collective efforts to address fragility beyond COVID-19 “Nothing can dampen our collective resolve to provide better opportunities for all” – African Development Bank President Akinwumi Adesina ABIDJAN, Ivory CoastThe first global summit of public development banks on Thursday showcased a collective resolve to accelerate efforts to achieve…
Dar eS Salaam, 29th August, 2020 There is a high demand for renewable energy production and consumption across Tanzania, which microfinance institutions(MFIs) can unlock, as a way of addressing energy poverty, and creating a new revenue niche. That was the general assertion by workshop participants organised by the Tanzania Association of Microfinance Institutions (TAMFI) senior-level managers of MFIs in…
*Seeks inclusive financial ecosystem for clean energy uptake Dar es Salaam, 28th August 2020 The project is supported by C.S. Mott Foundation based in Flint Michigan, US. It seeks to develop a program to improve capacity of the microfinance institutions to extend financing to enterprises and end users of renewable energy technologies in Tanzania, by targeting microfinance institutions….
Australian businesses that want to enter into Africa, with a special focus on Nigeria, Ghana, Kenya, and Zambia, will have wide access to invaluable credible knowledge and extensive network, giving them a headway, if they work with Iron Capital. This is possible in the wake of Iron Capital, an Africa-focused corporate finance and financial advisory firm new partnership with…
DAR-ES-SALAAM Microfinance Institutions play an effective role in poverty alleviation, social empowerment, and economic development within the broader context of financial inclusion. The assertion was made by Bank of Tanzania Deputy Governor, Dr. Bernard Kibesse in an event where 18 winners of the 3rd Citi Microentrepreneurship Awards (CMA) in Tanzania collectively won USD 37,500. He declared that the…
The customers of Ecobank, the Pan-African Banking Group in 33 African countries, can now transact with over 170 million mobile wallets across the continent Ecobank (www.Ecobank.com) The Pan-African bank announced on Dec12, 2018 the appointment of MFS Africa (www.MFSAfrica.com) as Digital payment partner enabling cross-platform payment services for Ecobank account holders. The partnership allows Ecobank customers to send and…
Mr ZABRON MBWAGA is the overall winner, the Citi Microentrepreneurship Awards 2017/8 (Tanzania). About 16 entrepreneurs and one loan officer, have won Citi Micro-Entrepreneurship Awards for 2017/8 funded by Citi Foundation, as announced by Tanzania Association of Microfinance Institutions(TAMFI). The Program in Tanzania is conducted by TAMFI. Winners were named and rewarded last Friday in a colourful event attended…
On a sector basis, the financial services sector continued to dominate the African IPO market during 2016 with 45% of total value and 55% of total volume, followed by consumer goods and industrials with a total value of 31% and 13% respectively JOHANNESBURG, South Africa, February 16, 2017/ — 2016 marked a challenging year for African equity markets in…
The Sixth Tokyo International Conference on African Development (TICAD VI) Summit will be held at Kenyatta International Convention Center in Nairobi, Kenya on 27th -28th August 2016. This will be the first time TICAD is being held in Africa since its inception in 1993. Dar Es Salaam, Aug 27, 2016/- The decision to host TICAD VI Summit in Africa…
Tanzania Commodity Exchange (TCX) is set to make Tanzania a hub for commodity trading in East African region that will involve setting up exchange associations and fostering relationships with International agencies. Commodity Exchanges integrates functioning of several key components of agriculture trade namely farmers, traders to services like Warehouse and Warehouse receipt system. It brings in standardization of…
BUSINESS community in the country has recommended for establishment of one-stop centre for collecting taxes related to fire and rescue services to increase compliance level and improve business environment. According to Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), the one stop point for tax collection will greatly reduce corruption that occurs when payments are done at different…
Minister Davies highlighted that the African countries participate in the global economy as mainly suppliers of primary products Dar es salaam, July 20, 2016/- The Minister of Trade and Industry, Dr Rob Davies says African countries need policy space to diversify, industrialise and transform their economies in order to integrate into the global economy. Minister Davies was speaking at…
Commends sub-sector for championing equality Dar es Salaam, 14th July 2016: The micro-finance industry in Tanzania plays a big role in bringing equality to all citizens especially the disabled and less fortunate in the rural areas. Deputy Minister of State, Prime Ministers Office(persons with Disability) Hon. Dr. Abdallah Possi , MP, made the assertion when he opened a key two…
For more information visit- http://www.nmbtz.com/ National Microfinance Bank Plc (NMB) is one of the largest commercial banks in Tanzania, providing banking services to individuals, small to medium sized corporate clients, as well as large businesses. It was established under the National Microfinance Bank Limited Incorporation Act of 1997, following the break-up of the old National Bank of Commerce, by…
Digital Banking made easier, faster and safer for over 1 million clients across 8 markets June 9, 2016: Standard Chartered Bank (SC.com) is bringing its newest mobile and online banking platform to 1 million clients across 8 African markets, the most extensive digital rollout of its kind in Africa by an international bank. Supported by the Bank’s global-standard technology,…
In one of the fastest rates of growth, bank has set up 25 branches since 2013 and is amassing a forest of 100,000 trees with each of the branched it is setting up Nairobi Kenya, 12th November, 2015: Kenya’s First Lady Margaret Kenyatta has lauded the National Bank (NBK-NSE) – Kenya’s fastest growing listed bank- for “contributing a great…
Dar es Salaam, 17th October 2015: Contestants in the presidential and parliamentary elections in Tanzania have been challenged to expound their visions and policies towards old age before the polling date. Speaking at a meeting in Dar es salaam on Monday and attended by HelpAge International, Older persons and the media, Smart Daniel who is the Deputy Country Director,…
A relentless deceleration in the economies of the developing world will cause global growth to slow this year and only pick up a bit more pace in 2016, the head of the International Monetary Fund said on Wednesday. In a speech that previewed a report on global growth due next month, IMF Managing Director Christine Lagarde held back from…
WASHINGTON, July 7, 2015 – A growing number of developing countries are investing in social safety nets to improve the lives and livelihoods of billions of poor and vulnerable people, yet around 55 percent of the world’s poor or 773 million people with acute needs still lack safety net coverage – especially in lower-income countries and in urban areas-and countries must…
Government, private sector, mobile operators and development organizations convene to establish a plan for the future LILONGWE, Malawi, April 30, 2015 Today, Malawi took a significant step towards creating a digital payment ecosystem in order to address poverty and drive inclusive growth. An event organized by the Government of Malawi with the United Nations Capital Development Fund’s (UNCDF) Better…
The Chief Executive of MCB, the largest bank in East Africa, will host an online press conference Wednesday 11th March 2015 at 11 a.m. GMT PORT-LOUIS, Mauritius, March 6, 2015/ — The Chief Executive of MCB (http://www.mcb.mu), the largest bank in East Africa, will host an online press conference Wednesday 11th March 2015 at 11 a.m. GMT to provide updates on the strategy of the…
“The world has made great progress in the last quarter-century in reducing extreme poverty – it was cut by a stunning two-thirds – and now we have the opportunity to end poverty in less than a generation,” said World Bank Group President Jim Yong Kim. WASHINGTON, October 8, 2014 – Much more work needs to be done to end…
Standard Bank and General Electric today reaffirmed their commitment to Africa at a power financing roundtable held in Washington DC JOHANNESBURG, South-Africa, August 5, 2014/ — Standard Bank – Africa’s largest lender by assets, and General Electric today reaffirmed their commitment to Africa at a power financing roundtable held in Washington DC. The partnership sees both parties aiming to…