Tag Archives | Tanzania
The IMF’s World Economic Outlook 2013 and the World Bank’s latest “Africa’s Pulse” (a twice-yearly analysis of the issues shaping Africa’s economic prospects) provide the following insights on African economic performance and the outlook for 2014 …
Based on the principles of the Spatial Development Initiative (SDI) conceived by the South African government in 1995, resource corridors in Africa are areas in which opportunities (mainly resource-based anchor projects and associated infrastructure) have been identified that can be realised through investments to achieve sustainable development, particularly development brought in other sectors through access to the resource infrastructure.
REACT – the Renewable Energy and Adaptation to Climate Change Technologies – calls for innovative business models to bring sustainable technologies to rural consumers in response to the following challenges …
Africa Brief: SA, Lesotho border control, Africa growth, Mauritius, Toyota SA, BP in Tanzania and more
SA AND Lesotho have agreed to create migration systems that make it easier for people and goods to move across their border, but researchers are concerned that adding to border-crossing requirements could make the process difficult and worsen corruption. SA’s Department of Home Affairs director-general Mkuseli Apleni earlier this year reassured Basotho with dual citizenship that the South African Citizenship Amendment Act 2010 would not compel them to relinquish their South African citizenship.
South Africa, Nigeria and Ghana have over the years been the largest recipients of Foreign Direct Investments (FDI) within the African continent as they jointly accounted for about 50% of the FDI inflow into Africa in 2011.
In the second half of 2012, South Africa experienced a sharp decline of 43.6% in FDI compared to the same period in 2011. Despite the sharp decline in the FDI inflow to South Africa, total FDI to Africa increased by 5% indicating increasing flow of FDIs to the other African countries.
Home to 43-million people, Tanzania ranks amongst the poorest countries in the world.
The country is reliant on agriculture which accounts for more than 25% of GDP, 85% of exports and employs 80% of the countries workforce.
Tanzania is endowed with vast natural resources and is the only country in the world where Tanzanite is found. The country is also the third-largest producer of gold on the continent which it exports to China, India and Japan.
Dispossessed Zimbabwean farmer Mike Campbell was able to take his case to the judiciary in SA because of the Southern African Development Community (SADC) Tribunal decision, pronounced before it was dissolved, which found Zimbabwe to have been in violation of the SADC Treaty. Zimbabwe was in contempt of court for refusing to adhere to that ruling.
“The petitioners, Campbell and Co, sought to have the SADC judgments enforced in a South African court,” says Nicole Fritz, director of the Southern Africa Litigation Centre.
Zimbabwe’s Delta sees lager, premium beer sales rise – Delta Corporation partly owned by SABMiller has been projected to raise its 2013 annual profit by 31%, although the trading update shows the Chibuku sales volumes declined by 10% …
Tanzania bids to cut call costs – Tanzania Communications Regulatory Authority plans to increase the competition between telecoms operators by cutting the interconnection rates telecoms operators charge each other by 69% in March.
Gambian President Yahya Jammeh has declared Friday a rest day to allow for more prayer, social activities and agriculture. This four-day work week will take effect from 1 February.
Many JSE companies are seeing Africa as the new frontier and an important source of long-term growth, especially those companies doing business in mature markets. The International Monetary Fund forecast the region to grow at 5.5% both this year and next. By comparison, South Africa’s economic growth rate is forecast at just 2.7%.
Oil bunkering – hacking into pipelines to steal crude then refining it or selling it abroad – has become a major cost to Nigeria’s treasury, which depends on oil for 80% of its earnings. Many local Nigerians would obtain these oils and refine the oil to sell to the local and foreign market to make a living even though they know this is illegal. Nigerians can make $60 (about R523) in a day by oil bunkering.
Excluding South Africa, Sub-Saharan Africa is said to grow at 6.6% this year. When including SA’s 30% weighting in the Sub-Saharan Economy, the growth rate falls to 5.4%. President of the African Bank Donald Kaberuka says the dynamic in Africa is good however, there are risks when you consider the global environment.
The 2012 Africa Tax Academy took place in Nairobi, Kenya, from 9 to 11 July 2012, followed by a client breakfast with presentations by KPMG professionals from different jurisdictions on 12 July 2012.
Approximately 80 delegates attended the conference from countries such as Kenya, Nigeria, South Africa, Uganda, Rwanda, Sierra Leone, DRC, Malawi, Zambia, Botswana, Ghana, Tanzania, but also from Germany and Switzerland.