April–September sales surged 8.3% year-on-year, thanks to strong demand and improved supply chains. Toyota Motor Corp’s global sales climbed 8.3% in April to September from a year earlier to a record 5,596,183 vehicles, putting the world’s biggest carmaker on track for another year of strong gains thanks to robust demand and improving supply conditions. Global production in the fiscal…
President William Ruto has called on African leaders to accelerate the realisation of the Africa Continental Free Trade Area (AfCFTA) agreement. The President said AfCFTA will increase intra-Africa trade thereby creating jobs and wealth for the people. President Ruto noted that Visa restrictions between African countries and tariffs are unnecessary hindrances to trade. “It is time we realise the…
TANZANIA’s Government is currently attracting more investors thanks to deliberate efforts to improve business environment. According to a Dubai-based Surfaces Furnishing Group Managing Director, Mr Rashid Yousif, the move has propel the flow of foreign direct investment to Tanzania. “Tanzania has simplified its business procedures, making it easy for investors to inject their capital in key and strategic investment…
The global energy as a service (EaaS) market is poised for remarkable growth, with a projected valuation of US$72.62 billion by 2023, representing a robust compound annual growth rate (CAGR) of 8.95% during the forecast period. Energy as a service (EaaS) is a transformative solution that promotes the adoption of advanced, low-carbon technologies. Under this business model, customers can…
Opinion by Staff • When thinking about the continent of Africa and the upcoming opening of the United Nations General Assembly (UNGA) in New York City, I was reminded of the famous opening to Charles Dickens’ novel, A Tale of Two Cities. “It was the best of times, it was the worst of times, it was the age of…
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…
Pakistan High Commissioner to Tanzania Siraj Ahmad Khan says his country’s priority is to boost trade volume between the two countries through bilateral trade Dar es Salaam. The government of Pakistan is targeting to increase trade with Tanzania from $224 million to more than $400 million in the next two years. Pakistan High Commissioner to Tanzania Siraj Ahmad Khan…
When it comes to economic vitality and opportunities for entrepreneurs, Africa offers a diverse landscape of business potential. Forbes has recently released its rankings for the Best African Countries for Business, providing insights into the most promising nations for investment, growth, and innovation. Let’s delve into the list and explore the standout performers: 1. Mauritius Mauritius takes the top…
Carbon offsets are intended to mitigate the effects of climate change, and Tanzania is on the verge of a new age, one in which the carbon market can provide major benefits to the environment, local people, and the National Treasury Dar es Salaam. Producing and selling carbon offsets is finally becoming a lucrative business in Tanzania, with the government…
There are many advantage for bartering of goods with Africa, the chairman of the Iran-Iraq Joint Chamber of Commerce said, adding that Iran should seize it as an opportunity to spur trade with the continent. Countries enjoy high capability of producing goods and can use bartering deals to supply goods as they need, Yahya Al-e Es’hagh emphasized. Speaking in…
According to ZCT Executive Secretary, Ms Hafsa Mbamba, the change will simplify the renewal process, eliminate administrative burdens, and allow businesses to operate without interruption. Dar es Salaam. The Zanzibar Commission for Tourism (ZCT) has made a change in the validity period of licences issued to tourism related businesses in the isles. With immediate effect, the shift to a…
CEO of Mohammed Enterprises Tanzania Limited (METL), Mohammed ‘Mo’ Dewji, is regarded as one of Africa’s youngest billionaires, presiding over a business with 150 product lines with an estimated revenue of $2.5B. The secret to his success began with his father giving him business lessons at the age of 11, as well as his exposure to the commerce industry…
Kenya’s President William Ruto has asked African leaders to take first steps towards ditching the globally-bullish US dollar by signing up to a pan-African payments system to facilitate trade within the continent. Ruto has urged his peers in Africa to mobilise central and commercial banks to join Pan-African Payments and Settlement System (PAPSS) which was launched in January 2022….
According to an IDC InfoBrief, sponsored by Cisco Dubai, United Arab Emirates — As organizations worldwide focus on operationalizing their ESG plans, Cisco and IDC launched a new study, titled “The Role of Technology in Enabling Sustainability: A Global Survey of IT Professionals”. The survey, which sought to better understand the technology trends and best practices that impact sustainability success,…
South Africa with 605,097 tons worth $317.57 million was Iran’s main trade partner in the African continent during the period. It was followed by Mozambique with 394.3 tons worth $189.17 million and Ghana with 313,433 tons worth $164.65 million. Data released by the Islamic Republic of Iran Customs Administration show Iran exported 2.37 million tons of goods worth $1.15…
Source | Daily News PRESIDENT Samia Suluhu Hassan day arrived in Pretoria, South Africa for a two-day State visit at the invitation of South African President, Cyril Ramaphosa. The State visit will crown the second session of the South Africa-Tanzania Bi-National Commission (BNC). The commission comprises four committees –Political and Diplomatic; Defence and Security; Economic Affairs, and Social and…
NEWLY appointed American Ambassador to Tanzania Michael Battle has listed his top priorities for promoting trade and investment between the two countries during his tenure in office. The former US Ambassador to the African Union said he would work with the government of Tanzania and its people to expand trade opportunities. According to him, all US ambassadors are responsible…
With inflation on the rise you are probably noticing how a little more of your salary goes into things like food and fuel every month. In fact, South Africa’s monthly inflation rate has consistently been above the upper limit of The Reserve Bank’s three to six percent target range since April this year, peaking at 7.8% in July. Those…
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…
Besides pursuing concrete investment projects and running joint business with local partners, the United Kingdom now plans to considerably cut taxes from around 99% of goods imported from Africa. At least after its historic UK-Africa Investment Summit held in January 2020, UK has increased its support for business on the continent – a step that aims at strengthening aspects…
Ethically-founded Madagascan premium chocolate company MIA (Made In Africa) is delivering a claimed industry first in becoming the only bean-to-bar business operating in two countries within the region, under its ambitious plans expanding into Ghana, reports Neill Barston. As its owners explained to Confectionery Production, the move allows it to extend its impact and offer an additional unique range…