Tag Archives: Tanzania

DSE makes huge turnaround‏

DSE makes huge turnaround‏
THE Dar es Salaam Stock Exchange (DSE), equity market marked huge turnaround after registering total turnover of 24.35bn/-compared to 8.58bn/- of the previous session with TBL and CRDB Bank emerging top traded equities.

According to Zan Securities Limited Weekly Wrap-ups, TBL and CRDB contributed to 74.59 percent and 14.34 percent of the week’s total turnover respectively.

Similarly, TBL emerged as the top gainer dominating the price movement within local listed companies after experiencing 200/- or 1.33 percent price increase to close at 15,200/- per share.

Meanwhile, Simba emerged as the top loser to close the week with the largest price drop for local listed companies after experiencing a 350/- or 11.11 percent price decrease to close at 2,800/- per share.

Comparatively, key benchmark indices were in both the green and red territory during the week with the Tanzania Share Index (TSI) capped at 4,611.29 points, higher by 0.41 percent compared with 4,592.45 points posted in the previous period.

The All Share Index (DSEI) closed at 2,403.58 points, lower by 0.25 percent compared with the week before to close at 2,409.71 points.

Three sector indices closed off both in green and red territory with Industrial and Allied experiencing an increase, closing at 6,158.12 points up by 0.44 percent compared to previous week closing at 6,130.88 points.

Banks, Finance and Investment Index experienced an increase by 0.42 percent to close at 3,099.01 points compared to close at 3,086.15points. Commercial Services Sector experienced a decrease by 0.53 percent to close at 3,915.58 points compared to 3,936.51 points of the period before.

Total market capitalisation experienced decrease by 0.27 percent compared to the previous week, closing at 21.05tri/-.

Domestic market capitalization experienced an increase by 0.41 percent to close at 9.77tri/-.

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Posted by on October 20, 2015 in Tanzania News


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Vietnam’s military-run mobile firm launches in Tanzania‏ Through Halotel

Vietnam’s military-run mobile firm launches in Tanzania, invests $736 mln


Vietnam’s state-run telecoms operator Viettel launched mobile and internet services in Tanzania on Thursday after investing $736 million (Sh75.80 billion) in East Africa’s second-biggest economy.

Tanzania’s mobile telecoms sector has grown rapidly over the past decade, driven by demand for third-generation (3G) mobile services.

The number of mobile phone subscribers in Tanzania rose by 16 percent in 2014 to 31.86 million, according to the country’s telecoms regulator.

A statement issued by Viettel, which is run by Vietnam’s Ministry of Defence, said the company will trade as Halotel in Tanzania and would offer both 2G and 3G services.

“With an initial investment of $736 million … Viettel’s operations have enabled services to all 26 regions in the country across rural and urban areas,” it said.

“Viettel’s new investment in Africa follows the rollout of services in Burundi and Cameroon … earlier this year and in Mozambique … in 2014.” Viettel said it had built 18,000 km of optical cable and more than 3,000 base transceivers, giving it coverage for up to 81 percent of Tanzania’s population of over 47 million.

The company will compete with four other main operators in Tanzania: Vodacom Tanzania, owned by South Africa’s Vodacom , Bharti Airtel, Tigo Tanzania, which is part of Sweden’s Millicom and Etisalat – owned Zantel.

Three other mobile operators – state-run TTCL, Benson and Smart – have a small market share. The Tanzanian president’s office said last year Viettel plans to invest $1 billion (Sh103 billion) in a new 3G mobile phone network in the country.

Like other African countries, mobile phone use has rocketed in Tanzania over the past decade, with telecoms the fastest-expanding sector in the country.

Viettel operates in markets in Asia, Latin America and Africa, and has around 75 million subscribers worldwide, according to its website. Its revenues in 2014 were $9.8 billion (Sh1 trillion) and it is aiming for a 20 percent increase in 2015.

SOURCE: Reuters


Posted by on October 19, 2015 in Business News, Tanzania News


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Be Updated on The USA’s Power Africa initiative

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With an initial set of six partner countries in its first phase, Power Africa plans to add more than 10,000 MW of electricity generation capacity on the continent. It will increase electricity access by at least 20 million new households and commercial entities with on-grid, mini-grid, and off-grid solutions.

The initial set of Power Africa partner countries are Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania. These countries have set ambitious goals in electric power generation and are making the utility and energy sector reforms to pave the way for investment and growth. Power Africa will also partner with Uganda and Mozambique on responsible oil and gas resources management.

The United States will commit more than US$7 billion in financial support over the next five years to this effort, including:

The U.S. Agency for International Development (USAID) will provide US$285 million in technical assistance, grants and risk mitigation to advance private sector energy transactions and help governments adopt and implement the policy, regulatory, and other reforms necessary to attract private sector investment in the energy and power sectors.

The Overseas Private Investment Corporation (OPIC) will commit up to US$1.5 billion in financing and insurance to energy projects in sub-Saharan Africa.

The US Export-Import Bank (Ex-Im) will make available up to US$5 billion in support of US exports for the development of power projects across sub-Saharan Africa.

The Millennium Challenge Corporation (MCC) will invest up to US$1 billion in African power systems through its country compacts to increase access and the reliability and sustainability of electricity supply through investments in energy infrastructure, policy and regulatory reforms and institutional capacity building.

OPIC and the US Trade and Development Agency (USTDA) will provide up to US$20 million in project preparation, feasibility and technical assistance grants to develop renewable energy projects. These efforts will be coordinated through the US – Africa Clean Energy Finance Initiative (US-ACEF) and supported by the recently launched US – Africa Clean Energy Development and Finance Centre (CEDFC) in Johannesburg, South Africa.

The US African Development Foundation (USADF) will launch a US$2 million Off-Grid Energy Challenge to provide grants of up to US$100,000 to African-owned and operated enterprises to develop or expand the use of proven technologies for off-grid electricity benefitting rural and marginal populations.

In 2014, OPIC and USAID will jointly host an African energy and infrastructure investment conference. The conference will bring investors, developers, and companies together with US and African government officials to demonstrate the opportunities for investment and the tools and resources available from the U.S. government and other partners to support investment.
Power Africa will also leverage private sector investments, beginning with more than US$9 billion in initial commitments from private sector partners to support the development of more than 8,000 MW of new electricity generation in sub-Saharan Africa. Examples of commitments to-date include:

General Electric commits to help bring online 5,000 MW of new, affordable energy through provision of its technologies, expertise and capital in Tanzania and Ghana.

Heirs Holdings commits to US$2.5 billion of investment and financing in energy, generating an additional 2,000 MW of electricity capacity over next five years.

Symbion Power aims to catalyse US$1.8 billion in investment to support 1,500 MW of new energy projects in Power Africa countries over the next five years.

Aldwych International commits to developing 400 MW of wind power in Kenya and Tanzania – which will represent the first large-scale wind projects in each of these countries, and an associated investment of US$1.1 billion.
Harith General Partners commits to US$70 million in investment for clean, wind energy in Kenya and US$500 million across the African power sector via a new fund.

Husk Power Systems will seek to complete installation of 200 decentralised biomass-based mini power plants in Tanzania – providing affordable lighting for 60,000 households.

The African Finance Corporation intends to invest US$250 million in the power sectors of Ghana, Kenya and Nigeria, catalysing US$1 billion in investment in sub-Saharan Africa energy projects.

Power Africa directly addresses constraints to investment in order to accelerate progress. Instead of taking years or even decades to create an enabling environment for energy sector investment, Power Africa takes a transaction-centred approach that provides incentives to host governments, the private sector, and donors.

These incentives galvanise collaboration, producing near-term results and driving forward systemic reforms that pave the way to future investment.
To achieve these ambitions, Power Africa includes:

An interagency transactions solutions team to provide the catalysts needed to bring power and transmission projects to fruition by leveraging financing, insurance, technical assistance, and grant tools from across the US government and our private sector partners.

Field-based transaction advisors, who have already begun their work in each of the partner countries, to help governments prioritise, coordinate, and expedite the implementation of power projects, while simultaneously building the capacity of existing host government ministries to deliver results.

Building host-government capacity to develop, approve, finance and ultimately bring power projects on line is critical to the success of the initiative.

To support this need, Power Africa will work with host governments to launch or further develop delivery units charged with driving progress on specific projects. These delivery units will help increase technical skills and accelerate energy sector regulatory, market structure and enabling environment reforms.

In Tanzania for example, Power Africa will support the Big Results Now! program, which is establishing new delivery units within government ministries.

In Nigeria, Power Africa will provide staffing support, capacity building and technical assistance to an existing delivery unit. Establishment of a delivery unit in Ghana will be closely coordinated with the MCC’s Compact slated for signature in 2014.


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Posted by on July 9, 2013 in Tanzania News


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Ziara ya Raisi Nchini Singapore kwa picha

Picha : Ikulu

Rais Jakaya Mrisho Kikwete akilakiwa na Bw. Laurence Bay, Mkurugenzi Mkuu wa Wizara ya Mambo ya Nje ya Singapore. Kushoto ni Balozi wa Tanzania India na Singapre Injinia John Kijazi na mbele yao ni Naibu Mkurugenzi wa Itifaki wa Singapore Bi. Christine Tay.

Rais Jakaya Mrisho Kikwete akisalimiana na Waziri wa Mambo ya Nchi za Nje na Ushirikiano wa Kimataifa,Mh. Bernard Membe,akifuatiwa na Waziri wa Viwanda na Biashara,Mh. Abdallah Kigoda pamoja na Waziri wa Ardhi Nyumba na Maendeleo ya Makazi,Mh. Anne Tibaijuka wakati Rais akiwasili nchini Singapore leo.

Rais Jakaya Mrisho Kikwete akiongea jijini Singapore leo wakati alipokutana na wafanyabaishara za ujenzi wa nchi hiyo mara tu baada ya kutoka Japan alikokwenda kwa ziara ingine ya kikazi. Katika mkutano huu Rais Kikwete aliwakaribisha wafanyabishara hao wa Singapore Tanzania kuwekeza katika sekta ya nyumba .


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Posted by on June 5, 2013 in Tanzania News


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Tanzania – Singapore Business Forum

The Singapore Business Federation is pleased to invite you to the inaugural Tanzania-Singapore Business Forum, organised in conjunction with the state visit of the President of the United Republic of Tanzania, H.E. Jakaya Kikwete, and his accompanying government and business delegation.


President Kikwete accompanied by Tanzanian government and business Delegation, will give a keynote address to Singapore and Tanzania business companies.

Tanzania – Facts and Figures
Market Overview

– 5th among the world’s ten fastest growing economies by the IMF with an annual average GDP growth of 7.2%

– Access to a population of 46 million, the biggest in East Africa

– Strategic location as a natural East Africa hub with Dar Es Salaam as the largest port of entry serving neighbouring landlocked countries

– One of Sub-Saharan Africa’s top FDI destinations, and the leading East Africa FDI destination, pulling in an average of US$627 million a year in recent years

Tanzania Market Opportunities

– Telecommunications and Information Technology

– Construction and Real Estate Development

– Hospitality and Tourism

– Petroleum, Gas and Energy

– Transport and Logistics

– Agribusiness and Food Processing

– Mining

– Trading

– Infrastructure

– Port Development

– Commodities and

– Healthcare


Posted by on June 5, 2013 in Uncategorized


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Canada and Tanzania Sign Investment Treaty

Source: In2EastAfrica Site

DAR ES SALAAM, Tanzania, May 16, 2013 – Foreign Affairs Minister John Baird and Bernard Membe, Tanzania’s Minister of Foreign Affairs and International Co-operation, today issued the following statement upon signing the Canada-Tanzania Foreign Investment Promotion and Protection Agreement (FIPA):


“The agreement signed today will strengthen economic ties between our two countries and help our companies invest with greater confidence in our respective markets. Facilitating two-way investment helps generate jobs, growth and long-term prosperity for Canadians and Tanzanians.

“A FIPA is a treaty designed to protect and promote investment abroad through legally binding provisions, as well as to promote inward foreign investment. By ensuring greater protection against discriminatory and arbitrary practices, and by enhancing the market predictability, a FIPA provides businesses with greater investment confidence.

“We are committed to creating the right conditions for businesses to compete and succeed internationally, which in turn will contribute to jobs and economic growth in both Canada and Tanzania.

“Now that the agreement has been signed, both countries will proceed with their ratification processes. The agreement will come into force once each country’s domestic approval process is complete.

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Posted by on May 17, 2013 in Tanzania News


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Statoil in fresh Tanzania gas find

Source: I2EastAfrica

Statoil and Britain’s BG Group plan to build a $10 billion East African liquefied natural gas (LNG) terminal well placed for exports to Asia, after the Norwegian company made a new find off the coast of Tanzania.

Statoil plans East Africa LNG plant after Tanzania gas find

“We have enough gas to move forward,” Statoil’s head of exploration, Tim Dodson, said on Monday after it announced the discovery of between 4 trillion and 6 trillion cubic feet (tcf) of gas in the Indian Ocean.

“We are working with BG to come up with a recommendation for a landing site. We should be making that recommendation to Tanzanian authorities fairly early in the second quarter,” Dodson told Reuters.

The latest find, Statoil’s third in the area within a year, brings its total recoverable resources there to 10-13 tcf.

BG has interests in three blocks off Tanzania together with Ophir Energy.

On Monday, BG announced that results from its Jodari well drilled off Tanzania, near Statoil’s own finds, were “excellent”.

The U.S. Geological Survey has estimated that more gas lies off the shores of Kenya, Tanzania and Mozambique than off Nigeria, Africa’s biggest energy producer.

East Africa is attractive to oil firms because of its relative proximity to Asia’s big LNG consumers.

To allow exports of the fuel to major markets, there will be a need for installations to turn gas into freezing liquid for transport by ship. Statoil and BG are on course to build one of the first.

Anadarko and Eni are planning to build an LNG export terminal in Mozambique.

The plant to be built by Statoil and BG would have at least two processing units, or trains, to process gas from Statoil’s Block 2 and BG’s Block 1.

“In addition to the 10-13 tcf that we have, they (BG) have a similar kind of number (in Block 1),” said Dodson.

“So if we have 20 tcf, there will be a discussion on whether you develop all of that straight away or whether you build two trains and then add a potential third train, or even a fourth.”

Statoil would extract the gas from the seabed via a big offshore development before piping it to the export terminal on land, Dodson said.

He said $10 billion was a fair ballpark estimate for the cost of developing the plant. An investment decision would be at least three years away, not before early 2016, he added.

Statoil operates the hydrocarbon licence for Block 2, with a 65 percent working interest, and ExxonMobil holds the remaining 35 percent.


There is political risk to the project, with oil and gas becoming a divisive issue in Tanzania.

While oil and gas could be a much-needed source of revenue for the developing country, there are fears energy could prove to be a “resource curse”, bringing the kind of unrest experienced by Democratic Republic of Congo and Nigeria.

In the southern region of Mtwara, residents are threatening to block a gas pipeline project until they see more of the benefits.

The government has accused opposition leaders of inciting opposition to the pipeline, which it hopes will boost generation of cheap electricity and end chronic energy shortages.

Opposition politicians and activists have been calling for a halt to the issuance of oil and gas exploration licences until Tanzania revamps laws regulating its fast-growing energy sector.

The government has unveiled a draft national gas policy and plans to have new legislation in place this year.

Statoil has drilled five wells off Tanzania so far and expects further wells this year, most likely towards the end of the year after geologists analyse data provided from fresh three-dimensional seismic surveys this summer.

“We can expect more discoveries,” Dodson said.

Statoil will also drill two wells off Mozambique, primarily seeking oil, with drilling of the first well due to start in the first week of April. There, again, Dodson saw potential for significant finds.

In Angola, on Africa’s west coast, Statoil hopes to drill another well towards the end of the year. Dodson said he believed there could be very big finds as the geology is similar to the oil-rich pre-salt blocks off Brazil, across the Atlantic.

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Posted by on March 19, 2013 in Business News, Tanzania News


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