Edson Baraukwa | Africa Guardian The International Finance Corporation (IFC) has committed a historic $14.2 billion in investments across Africa in the 2024 fiscal year, marking a 23% increase from the previous year. This record investment is aimed at boosting growth in critical sectors such as clean energy, manufacturing, digital connectivity, agriculture, small businesses, and trade, with a particular…
By Edson Baraukwa | Africa Guardian The informal sector has become a vital part of the African economy, contributing significantly to employment across the continent. The International Monetary Fund (IMF) has emphasized the importance of reforming this sector to address Africa’s growing unemployment challenges. While informal jobs—such as street vendors, small-scale farmers, craftsmen, and independent tradesmen—offer flexible employment options…
Our Correspondent | Africa Guardian The Global Africa Business Initiative (GABI) has highlighted the crucial role of the African Continental Free Trade Area (AfCFTA) and inclusive trade in unlocking Africa’s vast economic potential. GABI emphasizes that these strategies are essential for spurring economic growth, reducing poverty, and creating jobs across the continent. Ahead of its 2024 flagship event, “Unstoppable…
By Charles Muchoki | Africa Guardian Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB), has lauded Saudi Arabia for its remarkable “support, dedication, and friendliness” towards Africa. His remarks came during the Saudi Fund for Development’s 50th anniversary celebration in Riyadh. Celebrating 50 Years of Impact In his address, Adesina highlighted the profound impact of the…
By Our Correspondent | Africa Guardian India and Africa are entering a dynamic new phase in their relationship. Anil Sooklal, the newly appointed High Commissioner of South Africa to India, has been a vocal advocate for the burgeoning ties between the two regions. In a recent speech, he highlighted the “special relationship” shared by India and Africa, emphasizing its…
Issued by: CareerJunction The CareerJunction Employment Insights Report provides an analysis of the supply and demand trends in the online job market, to represent online labour dynamics in South Africa. The analysis and findings serve as a foundation for potential HR solutions & strategies, enabling businesses and recruitment agencies to focus on relevant occupations when developing their talent attraction…
The citrus seeds market has experienced a remarkable surge in recent years, driven by growing demand for citrus fruits and their derivatives. These tiny powerhouses, loaded with essential nutrients and antioxidants, have gained popularity in the health and wellness industry. The market for citrus seeds worldwide was projected to reach US$ 4.32 billion in 2022. Sales are expected to reach US$ 8.9 billion…
The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in a challenging global environment,”…
The year 2023 has so far not been a good one for Africa. Conflict has erupted in Sudan, deepened in the Democratic Republic of Congo and spread southward from the Sahel. Extreme weather, often attributed to climate change, has triggered devastating droughts and floods in places like Kenya and South Sudan, deepening poverty. Many African economies are struggling under…
Africa Business Weekly on CNBC Africa brings you the most impactful business stories across sub-Saharan Africa every week. From the capital markets to economic news affecting the regions from East, West ad Southern Africa, we will speak to the major newsmakers from across the sub-Saharan Africa region to get exciting and unique angles to the stories shaping the continent.
Summary In recent years Dar port has staged stiff competition, threatening to pull most of the ships plying the East African waters into its harbour. Dar es Salaam, Djibouti and Berbera ports have toppled Mombasa in the World Bank’s latest ranking on the most efficient ports, highlighting the competition fears that Kenya has had over Tanzania becoming a preferred…
Summary At least 1,763 Tanzanian firms have registered to seize business opportunities for the provision of services and products during the project construction phase. Dar es Salaam. Tanzanians could have up to three years before they start benefiting from the actual construction of a Liquefied Natural Gas (LNG) processing plant, thanks to the completion of the Host Government Agreement…
Summary Tanzania reported a rise of 5.511.81 tonnes of meat exports worth $15.630 million, or Sh36.73 billion, over the time, according to Livestock and Fisheries minister Abdallah Ulega, who tabled the 2023/24 budget in Parliament earlier this week Dar es Salaam. Annual meat exports grew by 43.1 percent in April 2023 compared to the same period the previous year,…
Summary Targets for private sector support through PPP projects are guided by the third National Five-Year Development Plan (FYDP III; 2021/22-2025/26). Dar es Salaam. The government said yesterday its ambitious plan to mobilise $9 billion (Sh20 trillion) in capital through public-private partnerships (PPPs) by 2025/26 is still achievable. The success of this alternative financing strategy will be assured by…
The global aquaculture therapeutics market is expected to reach $4190.3 million by 2032, up from $1634.8 million in 2022, at a 9.9% CAGR during the forecast period. The growing need for effective aquaculture treatment is expected to drive up demand for aquaculture therapeutics. Furthermore, the rising prevalence of bacterial illnesses among aquaculture species drives the aquaculture therapeutics market growth. Aquaculture Therapeutics…
Summary The target of mining contributing 10 percent of GDP is expected to be surpassed soon Dar es Salaam. The government yesterday signed Framework Agreements worth $667 million (about Sh1.54 trillion) with three mining firms in a landmark development that would see Tanzania surpassing its target of mining contributing at least ten percent of the economy. The government’s target…
As presently constructed, Kenya stands as East Africa’s second largest economy in terms of overall GDP, second only to Ethiopia. However, Kenya’s spot as the subcontinent’s second largest economy could change within the next decade owing to the rate at which East Africa’s 3rd largest economy, Tanzania is growing. This prediction is based on a report issued by the…
Staff Writer, Agence France-Presse (AFP) Four months since the federal government and the Tigray People’s Liberation Front (TPLF) signed a peace deal, medicine and food supplies were still insufficient Rebuilding schools and hospitals is the “number one priority” in Ethiopia’s northern Tigray region after two years of brutal conflict, Janti Soeripto, head of the US-based charity Save the Children…
THE government reforms in the mining sector has continued to yield results as Geita Region collected 400bn/- revenue from the sector in two years of President Samia Suluhu Hassan’s administration. The reforms made by the government included the establishment of an international gold trading centre in the gold-rich region which has five buying centres that have made trading easier…
By Anthony Muchoki Dr. Agnes M. Kalibata, President of AGRA, has commended the Tanzanian government for taking a significant step towards enabling youth to participate in food system transformation. A strong advocate for youth empowerment in agricuture, Dr Kalibata believes that “the younger generation needs to have productive, meaningful lives. Let’s give them the technologies and opportunity to be…
Heads of African Investment Promotion Agencies, businessmen and women as well as academia will meet in Accra on Wednesday, January 25, to strategise on how African nations can add value to natural resources through Foreign Direct Investment (FDI) to boost their economies and create jobs. The discussions will be held during the First Assembly of African Investment Promotion Agencies…
*50 Potential Outcomes for Tanzania The AGRF Food Systems Forum will take place in Tanzania in 2023. John Muchoki and John Beda will examine the potential outcomes of the Summit on agriculture in Tanzania, building on the efforts made by various stakeholders to improve the sector. The Summit seeks to advance the progress of the Malabo Declaration and prioritize…
The United States and China have downplayed concerns of Africa turning into an area of competition. African countries could use the ongoing rivalry between the United States and China to advance their own interests, with both global superpowers competing to expand their footprint in the continent, said analysts. Their comments come as more than 40 African leaders gather in…
This is the first time in some regions like Dar es Salaam that fuel price hits Sh3000 per litre While subsidies introduced by the government earlier this year have helped to ensure that fuel in Tanzania is cheaper than in any other East African Community member state with the exception of DR Congo, experts have called for more sustainable…
China, Africa’s largest bilateral lender, waived debt owed by 17 countries in the continent for 23 interest-free loans that were due in 2021. The context of the latest relief reinforces China’s intention for Africa to consider the Asian power its preferred long-term development partner, especially “in the face of the various forms of hegemonic and bullying practices,” Wang Yi,…
Training and Consulting company, Sycamore Consult Limited, has organized a conference where participants will be acquainted with methods and skills on wealth creation. According to Mwawi John Makwakwa who is the Chief Executive Officer for Sycamore Consult Limited, this day long conference will be held on 31st August, 2022 at Bingu International Conference Centre, Umodzi Park Presidential Hotel in…
A Policy Position Paper by Maida Waziri The position of this paper is that there is an urgent need to address the lacuna in development policies, laws and regulations about cottage (home based) industries. If addressed cottage industries will be able to establish business linkages, partnerships and subcontracting relationships to complement small, medium and large industries. Failure to recognize…
In the early 1700s, Great Britain reached a new milestone. After its people had invested plenty of research and resources into food production, their agricultural revolution resulted in a food surplus. As a result, the Brits needed to find innovative ways to process their swelling harvest. At the same time, Britain had massive supplies of cheap coal. And since there was…