Economic Roundup:
- Tanzania has the lowest inflation rate in East Africa according to a recent report by the World Bank (WB). According to the report despite the rate steadily increasing in the past few years; the inflation which stood at 5.2% in 2022 remains the lowest among EAC member states. The WB further said that Tanzania’s economy is growing faster than the rest of Sub-Saharan Africa (SSA). Despite a mild slowdown during the Covid-19 pandemic, Tanzania’s economic recovery has outpaced the SSA average with GDP growth expected to climb to 5.3% in 2023 from 4.6% in 2022.
- The Tanzania Ports Authority (TPA) recently announced that the renovation and upgrading of the Tanga Port has reached 91% completion, and it expects the works to be completed in April 2023. The Port will also be used for receiving and exporting oil from Uganda through the East African Crude Oil Pipeline (EACOP).
- UAE state-owned energy group ENOC and the Ministry of Energy (MoE) of Tanzania have an MoU to develop a national import gateway and world-class storage facility for petroleum & gas products. The facility is projected to increase import capacity and speed up transit time, as well as lower import prices not only for Tanzania but also for other East and Central African nations.
- Tanzania and Morocco are in the final stages of the establishment of a fertilizer factory in the municipality of Kisarawe. Morocco has been proactively helping African nations curb food shortages by aiding in the production of lower-priced fertilizers. The facility will help Tanzanian farmers produce healthy crops that are suitable for local and foreign markets.
- Tanzania continues to assert its dominance and influence on East Africa’s lake maritime trade and transport with the launch of the largest cargo and passenger vessel in the Lake Victoria waters. MV Mwanza ship ‘Hapa Kazi Tu’ is locally made with 1200 passengers and 400 tonnes of cargo capacity.
- Tanzania has been ranked as one of the best investment destinations in Africa, thanks to its strong regulatory framework, solid macroeconomic fundamentals, and vibrant financial market. In the East Africa region, the country was ranked third, behind Kenya, which is eighth, and Uganda, which is fourth.
SECURITY
- President Samia Suluhu Hassan recently formed a 12-man committee and secretariat of five members to investigate the performance of security forces in the country. The reforms are geared at strengthening the nation’s security apparatus and especially in policing the powerful intelligence services, which had been a ‘private army’ for former president John Magufuli.
- Tanzanian troops in Kenya for joint drills with their 20 other countries code-named “Justified Accord” 2023 (JA 23). The JA 23 expected to take place from Feb 13-24, 2023 is a multinational national exercise that brings together more than 20 countries from 3 continents to increase partner readiness for peacekeeping operations, crisis response, and humanitarian assistance. The 10-day training exercise (which will primarily be taking place in Nairobi and Isiolo Counties in Kenya,) which helps build partnerships with U.S. Army Africa and the East African military forces, is designed to help USARAF and East African participants to improve their capability to respond to regional security threats posed by violent extremist organizations and to more effectively counter the associated ideology.
POLITICAL
- Tanzanian opposition leader and former presidential candidate Tundu Lissu returned home after more than two years in exile in Europe. The return was announced after the ban lift of political rallies. This is among the many moves by President Samia Hassan geared at boosting democracy and overturning the authoritarian policies erected by former president Magufuli.
