President Museveni and President Magufuli have signed the East African Crude Oil Pipe Line Agreement(EACOP) as an expression of intent to go ahead with the construction of the1400km oil pipe line from Hoima to Tanga port.
Trade efficiency systems in Zanzibar are expected to become efficient with the launch of an NTB monitoring and electronic certificate of origin systems by the Zanzibar National Chamber of Commerce Industry and Agriculture (ZNCCIA).
Marriott International has announced the signing of an agreement with Pennyroyal Gibraltar Limited, to debut The Ritz-Carlton brand in the exotic Zanzibar Archipelago. Slated to open in 2021, the 90 room all-suite and villa resort will bring the defining luxury experience of The Ritz-Carlton to one of the most magical destinations in the world.
Aotea Global Services that has predominantly been in East Africa has announced it is expanding its operations into the US. The company provides clients with a unique value proposition: High quality, low-priced IT resources who work only for them and become an offshore extension of their in-house staff.
FBME Bank has been placed under further sanctions from international courts as part of a long list of problems caused by money laundering.
The mobile payments company Fortumo has announced that it has expanded its carrier billing services to 3 new African markets. More than 79 million mobile phone owners in Algeria, Ghana and Tanzania can now make payments for digital services.
Terrapay, an international payment company has launched an international money transfer service in Tanzania. The company received approval from the Bank of Tanzania (BoT) to send cross-border remittances to mobile wallets in Tanzania.
National Microfinance Bank Plc. (“NMB”) has posted a 4 per cent increase in net profit. The bank’s profit after tax (PAT) for the three months ending March 31, 2017 grew to TZS 40.9 billion from TZS 39.3 billion recorded for the same period in 2016.
TerraPay, a mobile-first international payment network has announced that it has successfully obtained regulatory approval from the Bank of Tanzania to launch International Money transfer services to mobile wallets in Tanzania.
Agence Française de Développement (AFD) in partnership with Kenya Association of Manufacturers (KAM) held a high level workshop on Sustainable Use of Natural Resources and Energy Finance Programme (SUNREF) East Africa to discuss among other things, the opportunities and challenges of SUNREF since its inception in Kenya in 2011.
The East African Community Partner States have undertaken a number of reforms over the past four years to facilitate implementation of the EAC Common Market Protocol, this is according to the East African Common Market Scorecard.
Octant Energy Corp has announced that it has entered into three agreements with subsidiary companies of Afren PLC to acquire assets in Kenya and Tanzania. The assets include Kenya Block L17/L18, Kenya Block 1, and in Tanzania, the Tanga Block.
TPB Bank has posted a profit increase by slightly over 30 per cent to cement its bid to list at Dar es Salaam Stock Exchange (DSE) main market.
When Vodacom introduced the mobile money transfer service, M-Pesa, in 2008 financial inclusion in the country was below 16 per cent.
Tanzania’s leading Digital Lifestyle company Tigo has announced the opening of a new state of the art Call Centre, the first of its kind in the country.
A five-year, $13 million collaboration between Michigan State University and The MasterCard Foundation will help 15,000 young people access employment and entrepreneurship opportunities in the fast-growing horticulture, aquaculture, poultry, cassava and oilseed sectors in Tanzania and Nigeria.
TradeMark East Africa (TMEA) has signed a Memorandum of Understanding with Democratic Republic of Congo (DRC) to facilitate projects that will improve cross border trade and enhance trade links between the country and East Africa Community member states.
The African Development Bank (AfDB) has approved a U$29.8 Million loan to Tanzania to help the country mobilize domestic resources and unlock the potential of its natural gas resources through leveraging domestic markets and local content initiatives.
Halotel has partnered with NMB to allow five Million Halotel and NMB customers enjoy cash deposit and withdraw services from HaloPesa.
ACACIA Mining, the largest mining firm in the country, has dumped a 3.0billion pound bid to acquire Canada’s Endeavour Mining.
Tanzania’s digital lifestyle company, Tigo has continued to support the Tanzania government’s under-five birth registration initiative through an innovative mobile application that is massively accelerating provisioning of birth certificates for children under the age of five.
[Tanzania] National Microfinance bank launches interbank money transfer service to improve customer convenience
The National Microfinance bank (NMB) has launched a new service dubbed Mobile Tanzania Interbank Mobile System (TISS) that allows customers to transfer up to $1300 from one bank to another.
With 120,000 units sold, almost all within the first six months of its October 2016 global launch, d.light's D30 Pay-Go solar home system is proving to be the fastest pay-as-you-go off-grid solar product to reach scale.
Tanzania’s privately-owned airline Precision Air Services Plc on Tuesday announced to relaunch flights to Uganda through Entebbe International Airport.
Despite market deal volumes being down by nearly a third for Africa Mergers and Acquisitions, M&A in 2016, international law firm Clifford Chance saw an increase in M&A instructions in Africa in the same period.
Tigo Tanzania, in partnership with a non-profit organization, Reach for Change, has given an award of $20,000 each to two winners of the 5th edition of the Tigo Digital Changemakers Competition.
Nestlé has announced the appointment of Kenyan, Ciru Miring’u as head of the company’s operations in Kenya, Uganda, Tanzania, Rwanda, Burundi and South Sudan. Ciru becomes the first local manager to head the East African cluster of the Swiss based world's leading Nutrition, Health and Wellness Company.
National Microfinance Bank Pic (NMB) has signed a strategic partnership agreement with Mastercard to ensure the digitization of the agricultural sector in Tanzania with the rollout of eKilimo, a mobile solution developed by the Mastercard Lab for Financial Inclusion.
The East Africa Business Council, the region’s umbrella body for the business community, has endorsed the premier summit in Africa targeting CEOs, Managing Directors and heads of public institutions in East Africa.
Tanzania has banned the export of mineral concentrates and ores for metallic minerals such as gold, copper, nickel and silver with a view to promoting value addition in the country in line with the Mineral Policy of 2009 and Mining Act of 2010.
Digital money transfer service WorldRemit has set up shop in Tanzania as it seeks to tap into the the growing demand for instant remittances to the country from over 4 million expatriates living abroad.
Residents of eight rapidly urbanizing cities in Tanzania will benefit from funding to scale up infrastructure investments and promote growth, the World Bank Group announced today.
Residents of seven rapidly urbanizing cities in Tanzania will benefit from funding to scale up infrastructure investments and promote growth, the World Bank Group has announced.
Agence Française de Développement (AFD) has launched its green finance label SUNREF in Dar-es-Salaam, Tanzania. In partnership with Kenya Association of Manufacturers (KAM) and Confederation of Tanzania Industries (CTI), it hosted over 70 key energy players at the inaugural SUNREF East Africa launch in Dar-es-Salaam.
Microsoft East Africa and pan-African data, voice and IP provider Liquid Telecom have announced a new partnership to develop the access and use of cloud services across the continent.
DHL Express, the world’s leading international express services provider, has announced the launch of On Demand Delivery for the Sub Saharan Africa (SSA) region.
Equity Bank Tanzania, a scion of Kenyan lender Equity Group has unveiled its new Zanzibar branch bringing the number of branches under Equity Tanzania to 14.
Oil marketing company Hashi Energy has announced plans to offload its petrol stations in Tanzania to Lake Oil Limited after a nod from the Competition Authority of Kenya.
Tanzania’s telecommunication company Vodacom is looking at growing retailers numbers in its mobile payment platform as it sets out to use its market influence to lead the charge towards a cashless society.
Digital money transfer service WorldRemit is consolidating its rapid expansion into Tanzania, supporting the growing demand for instant remittances to the country from over 4 million expatriates living abroad.
Following the launch of “Megamix” - the first ever Data bundle with Free Minutes and SMS, in October 2016, Tigo Tanzania launched another data and voice bundle combo.
Millennials in East Africa are turning to Agriculture as a side business, a majority have attempted to turn their side hustle into their main focus borrowing starting capital from banks and relatives.
Drought throughout East Africa has sharply curbed harvests and pushed the prices of cereals and other staple foods to unusually high levels, posing a heavy burden to households and special risks for pastoralists in the region.
Kingdom Leadership Network Tanzania partners with Bill Winston Ministries to organize business summit
The Kingdom Leadership Network Tanzania (KLTN) in partnership with US based Bill Winston Ministries plans a three-day economic summit in Dar es Salaam next month to promote business and good leadership in the country.
Tanzania has picked Turkish construction company YapiMerkezi and Portuguese building firm Mota-Engil to build a railway at a cost of more than $1.1 billion to connect the East African country with landlocked neighbours.
Air Tanzania Company Limited (ATCL) has announced that it is set to unveil an electronic ticket booking system in a bid to improve customers’ convenience.