Saturday 21 October 2017
(Bloomberg 07/26/17)
Tanzanians are being cheated out of the country’s mineral wealth and should take more control of their natural resources, President John Magufuli said. Investors in Tanzania’s mining industry have “stolen” from the country by failing to provide a fair share of the revenue they generate from gold and other minerals, Magufuli said in a speech in the central region of Singida on Tuesday. “We are surrounded by wealth; we have to stand up and protect it,” he said. “It shouldn’t happen that we have all this wealth, sit on it, while others come and benefit from it by cheating us.”
(The Citizen 07/26/17)
Dar es Salaam/Arusha — Tanzania and Kenya plan to form a joint committee and set up a channel of communication to deal with future trade disputes. The decision was reached during a meeting between the Minister of Foreign Affairs and East African Cooperation, Dr Augustine Mahiga, and his Kenyan counterpart, Ms Amina Mohamed, last Sunday in Nairobi. The two ministers met to discuss a trade dispute triggered by Kenya's ban on cooking gas imports from Tanzania. Dr Mahiga told reporters on Monday in Dar es Salaam that in addition to the joint trade committee, the two countries would also set up a communication channel to facilitate real time consultations in case of a trade dispute. The proposed committee will supplement...
(Reuters (Eng) 07/26/17)
Acacia Mining's shares fell for a sixth straight session on Tuesday, a day after the gold miner was hit with a tax bill of more than $190 billion by the Tanzanian government. Shares in the London-listed miner closed 8.5 percent lower at 169 pence, having had more than two-thirds wiped of their value since a ban on the export of gold and copper concentrates was imposed in Tanzania on March 3. Acacia, the biggest gold miner in Tanzania, received a notice from Tanzania on Monday for $190 billion unpaid taxes dating back over 10 years. Acacia said it did not believe it owed the money and reiterated that it had fully declared all revenues. The Tanzanian revenue authority has not...
(AFP (eng) 07/25/17)
A top opposition lawmaker in Tanzania has been charged with "hate speech" after calling President John Magufuli a dictator, according to court documents seen by AFP on Tuesday. Tundu Lissu, chief whip of the opposition in parliament and president of Tanzania's bar association, was arrested last week after holding a press conference where he criticised Magufuli and complained of a "climate of fear which reigns everywhere." After appearing in court on Monday, Lissu was "returned to prison," ahead of a Thursday ruling on his application for bail, said Saed Kubenea, a member of parliament in Lissu's Chadema party. Lissu faces a "hate speech" charge for his "insulting words that are likely to incite ethnic hatred," according to the charge sheet...
(Bloomberg 07/25/17)
Tanzania sent Acacia Mining Plc a tax bill equal to almost two centuries worth of the gold producer’s revenue. The government issued the company, which mines all of its gold in the African country, with a $40 billion tax bill and another $150 billion in interest and penalties, Acacia said in a statement Monday. The charge covers alleged under-declared export revenues from the Bulyanhulu and Buzwagi mines over periods between 2000 and 2017. Acacia reiterated that it has fully declared all revenues. The stock sank as much as 17 percent on Tuesday to the lowest since December 2013. In just three days, the company has lost 42 percent of its value. The giant tax bill is the latest twist in...
(Tanzania Daily News 07/25/17)
The government yesterday dismissed as baseless and malicious allegations that Tanzania is interfering with Kenya imminent general election. The Minister for Foreign Affairs and East African Cooperation, Dr Augustine Mahiga, speaking to reporters in Dar es Salaam, said all the ballots for casting and counting votes are in the hands of Kenyans themselves. “What we know is that the voting exercise will be monitored electronically from the polling stations to headquarters. There is literally no room for cheating. We have been in good relationship with Kenya for many years, why didn’t we interfere with their elections in all those past years? Those are mere rumours that should be ignored by both Kenyans and Tanzanians,” said Dr Mahiga. He told the...
(The Citizen 07/25/17)
Mwanza — Despite Tanzania Tourist Board (TTB) reports, which suggest a big number of tourists visit the country, tourism stakeholders in the region face a difficult time due to a sharp drop in the number tourists. Hotel operators have continued performing poorly, including artists of cultural products like locally-made sandals due to lack of buyers, the majority being toruists. However, TTB marketing officer Glads Tony told The Citizen at the weekend that despite the introduction of new taxes and procedures in the tourism sector, the number of tourists had increased compared to previous years. "Despite the rising cost of travelling by tourists due to Value Added Tax (VAT), the number of tourists visiting Tanzania is still high unlike in the...
(Tanzania Daily News 07/25/17)
The government yesterday dismissed as baseless and malicious allegations that Tanzania is interfering with Kenya imminent general election. The Minister for Foreign Affairs and East African Cooperation, Dr Augustine Mahiga, speaking to reporters in Dar es Salaam, said all the ballots for casting and counting votes are in the hands of Kenyans themselves. "What we know is that the voting exercise will be monitored electronically from the polling stations to headquarters. There is literally no room for cheating. We have been in good relationship with Kenya for many years, why didn't we interfere with their elections in all those past years? Those are mere rumours that should be ignored by both Kenyans and Tanzanians," said Dr Mahiga. He told the...
(Voice of America 07/25/17)
European and African ministers are meeting in Tunisia about efforts to regulate the flow of refugees from Africa to Europe, primarily along the deadly central Mediterranean route originating in Libya. In a declaration Monday in Tunis, the capital, the ministers said they agreed on a multi-pronged approach to the crisis, including informing people about the risks of illegal migration and the possibility of voluntarily returning home, addressing why migrants leave home and beefing up actions against human traffickers. Participating in the meetings were interior ministers from Algeria, Austria, Chad, Egypt, France, Germany, Italy, Libya, Mali, Malta, Niger, Slovenia, Switzerland, Tunisia and Estonia, which currently holds the EU Council presidency. Through the first half of 2017, nearly 84,000 migrants arrived in...
(AFP (eng) 07/21/17)
Tanzanian opposition number two Tundu Lissu was arrested on Thursday, three days after having called President John Magufuli a "dictator", party sources said. No reasons were given for the arrest of Lissu, a member of the main opposition party Chadema who serves as the chief whip of the opposition in parliament and also leads Tanzania's bar association. Government spokesman Hassan Abbas reacted to Lissu's comments earlier this week by saying in a statement "the government will not accept that someone, or a group of people, abuse the freedom of expression". Lissu was arrested at Dar es Salaam airport as he attempted to take a plane to Rwanda, Chadema spokesman Tumaini Makene told AFP. On Monday Lissu told reporters that repeated...
(Bloomberg 07/21/17)
At least two senior employees at Acacia Mining Plc have been detained for questioning by Tanzanian authorities over the past week, escalating a dispute between the company and the state over its operations in the country. Tanzanian President John Magufuli has accused Acacia of failing to pay billions of dollars of taxes. In March, the state banned exports of unprocessed gold and copper, a move Acacia later said has been costing it $1 million a day in lost revenue. Earlier this month, Tanzania’s government approved laws that would enable the state to renegotiate contracts with mining and energy companies. “Many senior employees have been interviewed by the authorities,” Chief Executive Officer Brad Gordon said in a phone interview from London...
(Reuters (Eng) 07/21/17)
Tanzania detained and questioned two senior local Acacia Mining staff at an airport this week in a dispute with the government, two sources said on Friday, and the company said it was having trouble renewing work permits for foreign staff. Chief Executive Brad Gordon denied a Reuters report that foreign staff were asked to leave by the government due to a dispute over mining licenses and accusations of tax evasion. He said its local employees had been interviewed by Tanzanian "government agencies" but did not confirm detentions. "We were having difficulty getting work permits renewed. But no foreign nationals have been asked to leave the country. So there may be some confusion in that. That’s a normal part of business,"...
(AFP (eng) 07/21/17)
The 2019 Africa Cup of Nations will expand from 16 to 24 teams and be staged in June and July, the Confederation of African Football (CAF) announced on Thursday. The tournament has traditionally been held in January and February, with the timing of the tournament a source of frustration to European clubs forced to release players in the middle of the season. The CAF executive committee confirmed the changes to the format following a two-day symposium in Rabat, although the tournament will continue to be held every two years and exclusively on African soil. The decision to increase the number of teams mirrors a similar one taken by UEFA to expand the European Championship, with 24 nations taking part at...
(AFP (eng) 07/20/17)
Burundi's President Pierre Nkurunziza arrived in Tanzania on Thursday for his first foreign trip in more than two years, seeking to revive political dialogue on the crisis in his country. Nkurunziza arrived with a heavily armed escort in the northwest Tanzanian town of Ngara, about 15 kilometres (eight miles) from the Rwandan border. The visit had been kept secret up to the last moment. He was welcomed by Tanzanian President John Magufuli at a football ground, where he was honoured with a 21-gun salute, live TV coverage on Tanzanian television showed. "Their discussion will cover, among other issues, the peace process" in Burundi, Macocha Tembele, an aide to former Tanzanian president Benjamin Mkapa who has been working as a facilitator...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread and protracted period of policy easing. This will provide a boost to growth," said John Ashbourne, Africa analyst at Capital Economics. Ghana, which agreed a three-year fiscal discipline deal with the International Monetary Fund in exchange for aid in 2015,...
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30 million mobile-banking customers, giving them “a very sizeable platform on the continent,” he said. Vodacom’s purchase of the Safaricom stake from U.K. parent company Vodafone Group Plc gives the South African company access to the fast-growing M-Pesa platform, which processed...
(Tanzania Daily News 07/18/17)
Chinese investments to Tanzania have soared in recent years, reaching 2.5 billion US dollars (about 5.6tri/) as of May 2017, ten times the 2011’s 282 million dollars (over 620bn/-). According to Finance and Planning Minister, Dr Philip Mpango, China is Tanzania’s second major source of investments after India. The minister assured that more investors are coming, especially in the fields of mineral exploration, agriculture, industry and trade. Speaking at the sixth Economic and Social Research Foundation’s (ESRF) Annual National Conference in Dar es Salaam yesterday, Dr Mpango said estimates show that Chinese companies are executing over 70 per cent of construction projects in the country.
(Agence Ecofin 07/18/17)
Proparco has granted a USD 12 million loan to Peninsula Plaza, a project company set up to build and operate a mixed-use retail / office complex in Dar es Salam. This project is part of the current boom in infrastructure development in Dar es Salaam and will generate major benefits by enhancing urban infrastructure, structuring the local economy and creating jobs. This loan will finance the construction and launch of Tanzania’s largest mixed use retail / office complex. Peninsula Plaza’s 30,500 m2 of rental space will house a supermarket, restaurant, stores, services and offices all in the one place – a first in Tanzania! The development is ideally located in the heart of the Msasani Peninsula which is currently totally...
(Tanzania Daily News 07/18/17)
Both private sector and government institutions need to cooperate in ensuring there is good environment of doing business so as to boost the economy and strengthen good business relations with other partners in the East African Community (EAC). Participants of the East African Business Council (EABC) regional dialogue said last Friday that joint efforts are needed to improve business and ensure any trader and investor who operates in Tanzania is fairly treated to meet his/ her goals. The Tanzania Private Sector Foundation (TPSF) Executive Director, Mr Godfrey Simbeye asked the government to immediately employ the Electronic Single Window System (eSWS) at the port as one of the major way of improving business services related in the country. According to Mr...
(Tanzania Daily News 07/18/17)
Tanzania is set to increase irrigation network towards sustainable industrial agriculture economy, the Minister for Water and Irrigation, Mr Gerson Lwenge, has said. He said at the just ended Dar es Salaam International Trade Fair (DITF) that irrigated land will be increased to one million hectares in two years from only 460,000 currently out of 29 million hectares suitable for irrigation. “Irrigation can speed up agriculture productivity because there is a possibility of cultivating twice a year contrary to reliance on rain-fed farming where farmers harvest once a year,” he said. He said irrigation is the best alternative in improving agriculture output in the country where farming depends on rain-fed farming which is seasonal. He said also that the increased...

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