The Tanzania Investment Centre (TIC) is targeting registration of 1,000 investment projects in 2024. In 2023, the TIC registered 526 projects, up 80% from 2022. Investment capital increased by 26% to $5.72 billion USD. This success comes from reduced investment thresholds for Tanzanian businesses and increased trade opportunities driven by government efforts.
Muhimbili National Hospital (MNH) has performed corrective surgeries on 31 children born with gender-related complications. The procedures, conducted on patients aged 18 months to 24 years, addressed a range of challenges, including ambiguous genitalia and urinary tract issues.
The Tanzanian government renewed its commitment to empowering citizens financially, with a focus on creating indigenous billionaires. Deputy Prime Minister Dr. Doto Biteko stressed this goal during the signing of an MoU between the Public Procurement Regulatory Authority (PPRA) and the National Economic Empowerment Council (NEEC).
Airtel Tanzania and Zanzibar Cable Television (ZCTV) have launched a partnership enabling ZCTV subscriptions to be paid through Airtel Money. The initiative was endorsed by the Zanzibar Minister of Communications and Transport, Dr. Khali Mohamed, who sees it as a boost to the government's goals for financial inclusion.
The five-subsidiary Smart Africa Group (SAG) is hiring for six positions, including Front End Developer, Infrastructure and Security Engineer, plus Talent and Training Business Development Associate. The deadline to apply is February 24, 2024. You can find more information and apply online at www.smartafrica.group/career.
Absa Bank Tanzania has become the 19th shareholder in the Tanzania Mortgage Refinance Company (TMRC), investing TZS 1.6 billion (approx. $688,000 USD). This move increases the TMRC's total investment and aims to expand property loan accessibility for Tanzanians.
The Ministry of Livestock and Fisheries (MoLF), in partnership with the Tanzania Agricultural Development Bank (TADB), has initiated a program offering soft loans for fishing vessels and gear. This effort aims to curb illegal fishing and enhance the Lake Victoria fisheries sector. The government has already distributed 55 boats worth TZS 2.6 billion (approx. $1.1 million USD). MoLF Deputy Minister Alexander Mnyeti also announced the creation of a new entity tasked with managing marine resources and combating illegal fishing nationwide.
Sahara Ventures is hiring for 11 positions, including Project Manager, Finance Manager, and Communication Manager. The application deadline is February 15, 2024.
Tanzania and Zambia have committed to establishing a trade facilitation center at the Kwala Dry Port. This center will include container freight stations. Aserve Zambian transit cargo on 20-hectare land provided by President Samia during a visit last year. It’s designed to alleviate congestion at the Dar es Salaam Port and increase rail transport usage. The Kwala Satellite City in the Coast region is expected to receive a total investment of $3 billion from public and private partners.
Strathmore Global Institute (SGI) convened its annual conference on February 9th in Dar es Salaam, focusing on financial inclusion for micro, small, medium, and social enterprises.
Prime Minister Kassim Majaliwa has issued a strong warning against the misuse of Information and Communication Technology (ICT) in Tanzania. He vowed the government will take strict measures against individuals who use technology for defamation, abuse, or any activity that puts children at risk. This declaration came in response to concerns raised by a parliamentarian about the need for enhanced online child protection.
The Supplier Development Program by Stanbic Bank Tanzania is now accepting applications for its next round of participants. The program is designed to support and empower small and medium-sized enterprises (SMEs) in Tanzania. In 2023, 100 businesses graduated from the program, securing contracts worth a total of $7.3 million.
On February 9th, the Tanzania Bankers Association (TBA) held its second conference on how financial inclusion can drive economic development in Tanzania.
TanzMED has been selected as a recipient of the USAID Youth Captain Scaleup Award, receiving TZS 50 million in funding. The award supports initiatives that improve the lives of young people in Tanzania, with a focus on social, economic, and health outcomes. TanzMED's winning project leverages its AminaMD platform, integrating an AI-based feature designed to address mental health among Tanzanian youth. The project aims to reach over 7.2 million young people.
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