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Tanzania

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TIC readies for more investments

Published on August 18, 2016
The Tanzania Investment Centre (TIC) eyes to increase the country’s foreign investments from the current 2.1 billion US dollars to 5.0 billion US dollars in the coming years to increase jobs and trade opportunities and boost growth. Speaking at the Second TIC Editors Forum held in Dar es Salaam yesterday, the TIC Acting Executive Director, Mr Clifford Tandari said the investment centre was undergoing major transformation to attain the goal.  The TIC Acting Executive Director, Mr Clifford Tandari said, We are currently preparing a strategic plan aiming at facilitating implementation of the centre in achieving its set goals and in the fulfillment of all directives. Read more. Source | Daily News
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Crowdfunding is growing, and East Africa fast becoming hub for cash

Published on August 18, 2016
East Africa is emerging as a hub for crowdfunding. The online platforms — which also offer grants, endowments, debt and equity — raised $37.2 million in 2015 in Kenya, Rwanda, Tanzania and Uganda. Research on crowdfunding — the pooling of money by many individuals for equity investment in startups — and peer-to-peer (P2P) finance show that last year, the nascent segment raised $22 million for investments in Kenya, $7.5 million in Uganda, $4.2 million in Tanzania and $3.5 million in Rwanda. Impressive growth rates of between 112 per cent in Kenya and 312 per cent in Uganda were recorded. In Rwanda, crowdfunding grew by 169 per cent and 281 per cent in Tanzania. Read more. Source | East African 
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Develop mobile money infrastructure to raise financial inclusion, EAC told

Published on August 17, 2016
East African Community states need to develop rural infrastructure (especially electricity and ICT) to enhance mobile phone penetration and facilitate its use. The call was made by experts in reaction to the 2016 Brookings Financial and Digital Inclusion Project Report, which, despite showing substantial progress toward advancing financial inclusion in regional countries, indicates there is room for improvement. The report, released last week, evaluates commitment to and progress toward financial inclusion across 26 countries. It says Kenya retained its position as the highest-ranked country in the study by a five percentage point margin. Read more. Source | New Times
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Private sector urged to invest in Dodoma

Published on August 16, 2016
The government has called on the private sector to take advantage of the renewed capital transfer programme to invest in Dodoma and boost the country’s economy. Minister of State in the Prime Minister’s Office (Policy, Parliament, Labour, Employment, Youth and Disabled), Ms Jenista Mhagama and Capital Development Authority (CDA) Director General, Mr Paskasi Muragili, said the government has laid down grounds for investments that must be taken up by the private sector. They were speaking in Dar es Salaam yesterday when they met leaders and members of the Tanzania Private Sector Foundation (TPSF) to outline key opportunities up for grabs as the government prepares to relocate from Dar es Salaam to Dodoma. Read more. Source | Daily News
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Nanenane: Event where agricultural skills, innovations, experiences converge

Published on August 16, 2016
As the government embarks on building up industrial driven economy, agriculture remains one of the major sectors expected to play a critical role in reviving and establishing industries in the country. Agricultural production is one of the most important economic sectors in the majority of African countries including Tanzania. Improved agriculture sector offers immediate value addition through commodity-based industrialisation that exploits forward and backward linkages with the rest of the economy. Read more. Source | Daily News
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Dar investment opportunities attract investors

Published on August 15, 2016
Tanzania remains the centre of attractions to investors in Africa and the globe due its immense and unique investment opportunities. “Tanzania is endowed with unique investment opportunities among the East African countries and has been the major focus on most investors from Africa and the world,” the Frontier Advisor, Deloitte, Mr Martyn Davies said in Dar es Salaam at the weekend. He made the remarks on behalf of the delegation of bankers and entrepreneurs from South Africa during their visits into the Tanzania Export Processing Zone Authority (EPZA) to explore investment opportunities. Read more. Source | Daily News
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USAID spends $350m for agricultural sector in Tanzania

Published on August 08, 2016
The focus will be to advance contemporary technological farming methods with focusing on rice, maize and horticulture and provision of  extension training to small farmers across the country. Speaking to the East African Business Week at the official launch of the nationwide campaign known as “Kumekucha” radio drama that will highlight the role women and youth in contributing to the country’s food security, USAID Director of Economic Growth Randy Chester said, The weekly radio serial drama, Kumekucha, will take audiences on a stimulating audio journey into the world of small scale farmers in the Southern Agricultural Growth Corridor of Tanzania (SAGCOT) corridor and will focus on the roles of women and youth in agriculture. ‘Kumekucha’ was commissioned by Africa Lead, the US Agency for International Development’s (USAID’s) primary skill-building program for food security in Sub Saharan Africa, as part of Feed the Future, the US government global hunger and food security initiative. Read more. Source | East African Business Week
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Dar to become regional hub for commodity market

Published on August 08, 2016
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 quality and allows people to trade using efficient banking channels making transactions more transparent and fast for the participants. The TCX Chief Executive Officer and Managing Director, Mr John Chaggama said TCX has been set up as a vehicle to facilitate market exchange and enhance the price discovery process, thus making farmers earn premium prices that reflect true market value for their products. Read more. Source | Daily News
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