12th May 2025
Source: The Citizen
WHY GLOBAL VENTURE CAPITAL IS BYPASSING TANZANIAN START-UPS
Africa’s start-up ecosystem roared back into life last month. Start-ups across the continent secured USD 343 million from investment deals exceeding USD 100,000 in what is now being described as the second-highest April funding month ever recorded, eclipsed only by the boom of April 2022. Yet, amid this continental comeback, Tanzania was nowhere to be found. According to a comprehensive analysis by Africa: The Big Deal, a platform that tracks start-up investments on the continent, at least 225 unique venture capital (VC) investors participated in funding African start-ups between January and April 2025. These investors contributed to USD 803 million raised by 163 ventures, marking a 43% jump from the same period last year.
Notably, the data excludes exits and only includes deals of USD 100,000 or more. Still, Tanzania was not among the 39 African start-ups that closed such deals in April. In contrast, countries like Egypt, Nigeria, Kenya, and South Africa dominated the scene, attracting both local and foreign capital to fuel innovations in fintech, healthtech, and infrastructure. Tembo Plus founder Victor Joseph noted that there is growing interest in Africa from VC funds, but without visibility, structured innovation pipelines, and strong support mechanisms, countries like Tanzania risk being left behind. His concerns are echoed by venture capital research firms such as Briter Bridges and Partech Africa, whose own datasets for 2024 and Q1 of 2025 similarly show no Tanzanian representation in major pan-African tech funding rounds.
Source: The Citizen
TRADERS SHUT SHOPS IN PROTEST OVER INFORMAL BUSINESS INVASION IN IRINGA
Commercial activity in Iringa Municipality came to a standstill on Monday morning, 12th May 2025, after hundreds of shopkeepers, market vendors, and informal sector traders, popularly known as machinga, refused to open their businesses for over four hours, protesting what they described as the unchecked invasion of unauthorized traders into designated business areas. A survey found key trading centers, including Central Market, Mlandege Market, and major commercial streets such as Ipogolo, Mkwawa, and Mashine Tatu, deserted.
Shops remained firmly shut, while even the usually bustling machinga, who typically line roadsides and drainage channels, were noticeably absent. Iringa Regional Secretary of the Tanzania Traders Association (popularly known by its Kiswahili abbreviation, JWT), Mr. Benito Mtende, confirmed in a telephone interview that leaders of the traders were locked in a closed-door meeting to finalize a petition to be presented to the Iringa Regional Commissioner, Mr. Peter Serukamba.
The decision to halt business was reached last week during a consultative meeting convened by JWT, where members resolved to down tools in protest against what they termed unfair competition and harassment from informal traders operating outside designated zones.
Source: The Guardian
TREASURY, BOT DRAWING UP KEY FINANCIAL NEEDS SERVICES CENTRE
Every ministry and public agency must begin implementing their development projects through the public-private partnership (PPP) model so that the current financial mobilization ambitions of the government can be realized. Mr. David Kafulila, executive director for the Public-Private Partnership Centre (PPPC) housed in the Treasury, said over the weekend that plans to set up an international financial services centre, being worked on by the Tanzania National Business Council (TNBC) and the Bank of Tanzania (BoT), need this change of outlook to succeed. This initiative would boost investor confidence as invested funds would be well-managed under the oversight of government mechanisms.
He asserted that to reach a trillion-dollar economy, Tanzania must move beyond dependence on loans and taxes. Only 19 countries globally have reached financial services centre milestones, and now Tanzania is working to join that league. He underlined that achieving this vision would require wide-ranging regulatory, policy, and legal reforms. This needs to go along with greater use of technology and a transformative national mindset. He stated that the private sector often possesses more advanced technology than government agencies.
Dr. Godwill Wanga, the TNBC executive secretary, profiled this initiative at a briefing on the second working session of its finance working group, noting that TNBC is laying the groundwork to set up such a centre. Designed to attract substantial domestic and foreign investments, it is likely to help draw significant capital investment into large-scale projects, thereby accelerating economic development. A wide range of service providers stands to benefit from such an initiative, including financial institutions, transport operators, and businesses in the broader investment ecosystem. Ms. Sauda Msemo, the Bank of Tanzania Deputy Governor, underscored the importance of having the centre to help facilitate government ambitions to transform Tanzania into a USD 1 trillion economy by 2050.
Increased foreign investment would enable the promotion of Tanzanian products abroad, helping to alleviate foreign exchange shortages and bolster the country’s capacity to import necessary goods. Mr. Vincent Minja, president of the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), similarly endorsed the proposal, acknowledging that stakeholders have positively received the plan to establish an international financial services centre.
13th May 2025
Source: The Citizen
TANZANIA TO ESTABLISH INTERNATIONAL FINANCIAL SERVICES CENTRE
The National Business Council (TNBC), through its finance working group, is spearheading efforts to establish an International Financial Services Centre (IFSC) in Tanzania as part of broader plans to attract both local and foreign capital for large-scale investments. Speaking during the second working session of the committee held over the weekend, TNBC Executive Secretary Dr. Godwill Wanga said the group had resolved to set up the centre to serve as a catalyst for economic growth and investment mobilization.
He stated that the establishment of this centre will help attract significant capital investment in various large-scale projects within and outside the country and will help grow the economy. He added that the initiative would benefit a wide range of stakeholders, including financial institutions such as banks and capital markets, as well as ancillary service providers like airline and bus operators, food vendors, and others along the investment value chain. Deputy Governor of the Bank of Tanzania (BoT), Ms. Sauda Msemo, hailed the proposed centre as a strategic move that aligns with the government’s ambition of reaching a gross national income of USD 1 trillion by 2050.
Source: The Citizen
MINERALS TO WATCH AS NEW ORES CHALLENGE DOMINANCE OF GOLD
Gold continues to be Tanzania’s most valuable mineral, but new data reveals that the production of other mineral resources is increasing at an impressive rate. This shift poses a challenge to gold’s traditional dominance and signals new opportunities for economic growth. According to the National Bureau of Statistics (NBS), the production of several minerals surged dramatically in the fourth quarter of 2024, with growth rates exceeding those of gold. The NBS report, which outlines GDP figures for October to December 2024 based on the new base year of 2025, indicates that gold output rose by 21%, reaching 17.64 tonnes, up from 14.54 tonnes during the same period in 2023.
However, other minerals showed even more remarkable growth. Mica production soared by an astonishing 597%, climbing from 8,779.64 tonnes in Q4 2023 to 61,221.15 tonnes in Q4 2024. Copper ore also saw significant growth, with a 308% increase, rising from 2,578 tonnes to 10,529 tonnes year-on-year. Kaolin experienced a 177% increase, producing 50,062 tonnes in Q4 2024 compared to 18,055 tonnes a year earlier. Other rapidly growing minerals included bauxite and phosphate, each with a growth rate of 109%. Feldspar and pozzolana followed, with increases of 105% and 103%, respectively.
Source: The Citizen
E-PROCUREMENT SAVES TANZANIA USD 4.9 MILLION IN TENDER DOCUMENT COSTS
The Tanzanian government has saved USD 4.93 million (approximately TZS 13.33 billion) during the 2023/24 financial year by reducing spending on paper used in the preparation and completion of tender documents, thanks to the adoption of the new electronic procurement system. The cost savings are attributed to the adoption of the National e-Procurement System of Tanzania (NeST), which has significantly streamlined and digitized the public procurement process.
Since its rollout on July 1st, 2023, NeST has enabled various ministries, departments, and agencies to cut operational costs while enhancing transparency and efficiency in public procurement. The system has also facilitated the procurement of 130,032 tenders with a combined value of TZS 14.9 trillion, according to the Director General of the Public Procurement Regulatory Authority (PPRA), Mr. Dennis Simba.
VISA APPOINTS TANZANIAN AS REGIONAL HEAD FOR EAST AFRICAN MARKET
Global digital payments giant Visa has appointed Victor Makere as its new country manager overseeing operations in Tanzania, Uganda, Burundi, and Rwanda. The appointment, effective May 12th, 2025, places Mr. Makere at the helm of Visa’s strategic growth efforts across the four East African markets. He will be tasked with driving business expansion, deepening client engagement, and promoting the adoption of digital payment solutions to foster financial inclusion and economic growth. Visa said in a statement on Monday that in his new role, Mr. Makere will oversee a diverse portfolio of clients, set business objectives, lead key projects, and support the rollout of new products and services.
His mandate includes enhancing Visa’s value proposition, improving revenue performance for both Visa and its partners, and strengthening executive relationships across the region. Mr. Makere expressed enthusiasm about the opportunity, citing Visa’s commitment to innovation and inclusion as a key motivation.
14th May 2025
Source: The Citizen
TANZANIA AND CÔTE D’IVOIRE TO STRENGTHEN TRADE AND AGRICULTURE TIES
Tanzania and Côte d’Ivoire have pledged to deepen bilateral cooperation, particularly in trade, agriculture, technology, and sports, following high-level talks between Prime Minister Kassim Majaliwa and his Ivorian counterpart, Robert Beugré Mambé. The two leaders met in Abidjan on Monday at Prime Minister Mambé’s office on Boulevard Angoulvant, where they held wide-ranging discussions focused on expanding economic and diplomatic relations between the two countries. Prime Minister Hon. Majaliwa, who is in Côte d’Ivoire representing President Samia Suluhu Hassan at the Africa CEO Forum, said the talks highlighted the potential for collaboration in key sectors such as modern agriculture, agritech innovation, and research exchange.
The two nations agreed to assign their agriculture ministers the task of identifying concrete areas of cooperation, particularly in expanding access to markets, agricultural value addition, and scientific research partnerships. Prime Minister Mambé, who also holds the portfolio for Sports and Social Welfare, praised Tanzania’s role in advancing regional development and commended President Samia’s leadership, especially her government’s efforts in energy and investment.
Source: The Citizen
TZS 10,000 NOTE DOMINATES EVERYDAY TRANSACTIONS IN TANZANIA
The TZS 10,000 banknote has emerged as the most widely used currency denomination in Tanzania, accounting for over 85% of all cash circulating outside the banking system, a recent Bank of Tanzania (BoT) report reveals. According to the BoT, more than TZS 7.1 trillion in TZS 10,000 notes is in circulation for day-to-day transactions across the country. In comparison, TZS 5,000 notes make up TZS 674 billion, TZS 2,000 notes account for TZS 279 billion, TZS 1,000 notes for TZS 199 billion, and TZS 500 notes only for TZS 60 billion.
Coins are even less prevalent, with TZS 200 coins in circulation valued at TZS 50 billion, TZS 100 coins at TZS 34 billion, and TZS 50 coins at TZS 16 billion. Experts attribute the dominance of the TZS 10,000 note to several factors, including seasonal agricultural income, the cost of living, and Tanzania’s predominantly cash-based economy. BoT Governor Emmanuel Tutuba noted that following the harvest season, particularly between August and September, farmers often receive large sums of cash when selling produce such as maize and rice. In such cases, the TZS 10,000 note is preferred for ease of handling.
15th May 2025
Source: The Citizen
WHY TANZANIA DOES NOT LEAD IN SELLING ITS OWN TANZANITE
Tanzanite is a rare gemstone found in only one place on earth: the Mirerani Hills, near Mount Kilimanjaro in northern Tanzania. This gemstone commands a high global value due to its unique occurrence and distinctive bluish-violet color. Despite being the world’s sole producer of Tanzanite, Tanzania ranks second globally in the export volume of this precious stone, trailing behind India and followed by Vietnam. According to a report by the Bank of Tanzania (BoT), Tanzanite exports from Tanzania reached a value of USD 19.2 million (about TZS 50 billion) in 2024. However, data available online show that in the same year, India exported Tanzanite worth over four times Tanzania’s exports, amounting to approximately USD 80 million (TZS 208 billion).
Source: Daily News
GOVERNMENT WARNS EMPLOYERS AGAINST DISMISSING PREGNANT WORKERS
Deputy Minister of State in the Prime Minister’s Office (Labour, Youth, Employment and Persons with Disability), Hon. Mr. Patrobas Katambi, has issued a stern warning to employers against dismissing female employees on the grounds of pregnancy, stating that such actions are illegal and punishable under existing labour laws. Mr. Katambi was responding to a supplementary question in the National Assembly from Special Seats MP Alice Kaijage (CCM), who asked what strategies the government has in place to protect female workers in both the private and informal sectors from termination due to pregnancy.
She also inquired about measures being taken to financially and technically strengthen labour inspection bodies to enforce these protections. Mr. Katambi stated that pregnant and breastfeeding women are legally protected, including rights to maternity leave, breastfeeding breaks, and special consideration in cases of premature delivery. He further noted that the government has continued to implement various measures to safeguard workers’ rights, especially those of women, including recent amendments to labour laws passed by Parliament in February 2025.
He added that the government has issued guidelines to employers on developing workplace policies aimed at eliminating discrimination. Labour inspections have also been intensified to detect violations and take corrective action where necessary. Mr. Katambi urged lawmakers and relevant stakeholders to collaborate with the government in raising awareness among women, especially those in the private and informal sectors, about their labour rights and the legal channels available for redress.
Source: The Guardian
TANZANIA AND CZECH ELIMINATE DOUBLE TAXATION LOOPHOLES
Tanzania has signed an agreement with the Czech Republic aimed at avoiding double taxation and preventing fiscal avoidance and evasion concerning income tax. Dr. Mwigulu Nchemba, the finance minister, stated at the signing ceremony in Dar es Salaam yesterday that the agreement uplifts investment opportunities and economic growth. Countries with effective double taxation treaties attract up to 30% more foreign direct investment (FDI), he said, citing data from the Organisation for Economic Co-operation and Development (OECD). He noted that this agreement is a catalyst for transformation, eliminating the risk of the same income being taxed in two jurisdictions. He elaborated that it protects profits, enhances investor confidence, and fosters fair taxation policies.
Tanzania and the Czech Republic enjoy a long-standing diplomatic relationship, starting from the Czech Republic’s independence in 1993, which has over the years expanded into tangible economic cooperation. The UN Comtrade database indicates that bilateral trade between the two nations reached USD 16.2 million in 2022, with growing interest in sectors such as machinery, electrical equipment, transport technology, and agriculture. The minister praised President Samia Suluhu Hassan for preparing the framework for the agreement by initiating reforms that have significantly improved Tanzania’s business environment.
The reforms include simplifying business registration and licensing processes, digitizing tax and customs systems, reforming land and labor regulations, and establishing special economic zones with strategic incentives for large-scale investors. As a result of these efforts, Tanzania is now recognized as one of the leading investment destinations in Sub-Saharan Africa, he said, citing a 2023 report by KPMG, an international audit firm, which ranked the country third on the continent behind South Africa and Nigeria for reforms in the business environment. With projected GDP growth of 6.0% in 2025 and strategic access to over 400 million consumers in East and Southern Africa, Tanzania is positioning itself as a regional trade and investment hub, he declared.
Nicol Adamcová, the Czech Republic’s non-ambassador based in Nairobi, hailed the long-standing and productive partnership between the two countries, underlining that the agreement enables Tanzanian investors to operate in the Czech Republic without facing tax-related restrictions. The pact reflects a high level of mutual trust between the two countries, she said, noting that without that trust, time and effort would have to be invested in the negotiations. The agreement is clear evidence of the stable business environments and investment climate in both countries, she affirmed, stating that the double taxation agreement is expected to pave the way for deeper bilateral cooperation and increased private sector engagements.
16th May 2025
Source: The Citizen
ZANZIBAR INTRODUCES REGULATED FARE SYSTEM FOR BODA BODA
The Revolutionary Government of Zanzibar (SMZ) is finalizing plans to introduce an official fare structure for boda boda operators in a move aimed at curbing exploitative pricing and bringing order to the growing motorcycle taxi industry. The announcement was made in the House of Representatives on Wednesday, May 15th, 2025, by Deputy Minister for Infrastructure, Communications, and Transport, Mr. Nadir Abdulatif Yussuf, during a question-and-answer session with lawmakers.
The government’s decision follows mounting concerns from the public and legislators over the absence of a unified fare system, which has allowed operators to set arbitrary charges, often to the detriment of passengers. Nungwi Representative Mr. Abdalla Abasi Wadi was among those who raised the issue, noting that many Zanzibaris, particularly those in remote areas, are forced to pay exorbitant fares in the absence of government-set pricing. He urged the ministry to adopt a model similar to other regulated transport services. Ziwani Representative Mr. Suleiman Ali Makame (CCM) echoed the concern, criticizing the government for the delay in implementing pricing guidelines.
He referenced a 2018 motion brought forward by Dr. Mohamed Said Dimwa, now CCM’s Deputy Secretary General, which called for the formalization of the boda boda sector. Responding to the concerns, Deputy Minister Nadir confirmed that while regulated fare systems are already in place for air, sea, and public bus (daladala) transport, work is now underway to incorporate boda bodas into the same framework.
Source: The Citizen
TANZANIA AVIATION SECTOR SOARS AS PASSENGER NUMBERS SURGE PAST SIX MILLION
Tanzania’s aviation sector has continued to experience significant growth, with more than six million passengers using air transport between July 2024 and March 2025, marking an 18.8% increase compared to the same period in the previous financial year. The figures, presented by the Minister for Transport, Prof. Makame Mbarawa, in Parliament on Thursday, May 15th, reflect rising confidence in the country’s air transport system, fueled by strategic infrastructure investments and growing international visibility.
According to the minister, domestic travel accounted for 3.2 million passengers, a 15.6% rise from the previous year, while international air traffic surged by 22.6% to 2.83 million travelers. Cargo traffic also expanded, with 33,112.5 tonnes of goods transported during the said period, a 20% increase. The bulk of this, 30,637.2 tonnes, was shipped abroad, while the remaining 2,475.3 tonnes were handled within Tanzania.
Source: The Citizen
TANZANIA NOW MOVES TO ESTABLISH CENTRALIZED EDUCATION DATA SYSTEM
Tanzania is set to introduce a centralized information system that will collect, coordinate, and analyze all education-related data, marking a major shift in how educational statistics are managed and accessed across the country. The new system, spearheaded by the Ministry of Education, Science and Technology, is expected to simplify access to critical information across all levels of education, including data from private schools and universities, which has historically been scattered or unavailable. Speaking at a technology symposium co-hosted by the Higher Education Students’ Loans Board (HESLB) and AdAPT IT yesterday, Minister for Education Prof.
Adolf Mkenda said the centralized system was nearing completion. The symposium, which brought together innovators, ICT experts, decision-makers, and higher learning institution representatives, ran under the theme: “Digitally Connecting Institutions by Driving Transformation in Higher Education.”
Source: Daily News
TELECOM COMPANY TARGETS AI TO SPUR INVESTMENT AND INNOVATION
Vodacom Tanzania has reaffirmed its commitment to advancing the adoption of Artificial Intelligence (AI) across all levels, from grassroots communities to national platforms, recognizing its transformative potential for the country’s future. The telco’s Managing Director, Mr. Philip Besiimire, said on Wednesday, 14th May 2025, at the Future Ready Summit (FRS) that the country has the potential to play a central role in shaping the AI landscape. He stated that internet infrastructure, education, and policy regulation are key components of advancing the usage and adoption of AI technology in our communities today. By investing in education, creating the right infrastructure, and fostering supportive policies, the country can emerge as a leader in AI innovation.
The company has demonstrated its commitment to promoting the use of Artificial Intelligence by empowering the next generation of innovators through targeted initiatives. Through programs like the Vodacom Digital Accelerator (VDA), the company supports young entrepreneurs in developing tech-driven solutions, while its ‘Code Like a Girl’ initiative equips teenage girls with essential coding and digital skills.
The five-day initiative, organized by Vodacom Tanzania in collaboration with the United Nations Development Programme (UNDP) and the Tanzania Commission for Science and Technology (COSTECH), is part of the celebration for Innovation Week Tanzania. The former Chief Business Officer of Google X and AI visionary, Mr. Mo Gawdat, said that as technology evolves, numerous solutions become even more accurate because they continue to learn.
Equally, the UNDP’s Deputy Resident Representative, Mr. John Rutere, stated that AI will be a game changer across all sectors, noting that some of the key sectors expected to be early adopters to transform the Tanzanian economy include healthcare, hospitality, government services, and financial services. He further encouraged other stakeholders to leverage emerging technologies not only for economic growth but also to improve quality of life and support start-ups in scaling and innovating.
Source: Daily News
PETRA COMPLETES WILLIAMSON DIAMONDS EXIT IN TZS 43.17 BILLION DEAL
PETRA Diamond Limited (PDL) announced the completion of the sale of its entire interest in Williamson Diamonds Limited (WDL) to Pink Diamonds Investments Limited, a subsidiary of Tanzanian mining services firm Taifa, for up to 16 million US dollars (about TZS 43.17 billion), marking its full exit from operations in Tanzania. According to the statement released by PDL, the London-listed miner said the transaction includes all shareholder loans owed by WDL and was finalized following approval from Tanzania’s Fair Competition Commission (FCC). The consideration for the transaction shall be payable by Pink Diamonds out of WDL’s future distributable cash, with Petra entitled to receive 20% of such cash annually until the full amount is settled.
The proceeds will be used for general corporate purposes. PETRA acquired its interest in the mine in 2009 and has now concluded that it is preferable for WDL to come under consolidated ownership. Known for producing rare pink diamonds, the mine was suspended for much of 2023 following a tailings dam breach in late 2022 that prompted investigations and a temporary halt in operations. On his part, Pink Diamonds Chairperson Rostam Azizi said early in January this year that his company is committed to adopting and adhering to the latest internationally recognized standards throughout all aspects of its business.
Pink Diamonds, a subsidiary of Tanzanian mining services firm Taifa, purchased the entire stake in Petra Diamonds. The discovery of the kimberlite pipe by Canadian geologist John Williamson in 1940 has led to ongoing operations since then, making it one of the world’s oldest continuously operating diamond mines. Its yield of over 19 million diamond carats includes the 54.5-carat Williamson pink diamond presented to British royalty in 1947.
