INVESTORS’ confidence in Tanzania as an investment hub of choice is intensifying with latest figures showing that a total of 905 projects with a combined value of US $13.2 billion (about 30.4trl/-), were registered during the past three years.
Tanzania continues to be the leading destination for Foreign Direct Investments (FDIs) among member states of the East African Community (EAC), accounting for about 40 per cent of all the investments in the bloc that were received in 2017, according to the World Investment Report (WIR), 2018.
A manufacturer of airbus planes in Mirabel, Montreal, in Canada, yesterday officially introduced a new plane, Airbus A220-300, to be operated for the first time in Africa, through the government of Tanzania airliner, Air Tanzania.
The plane manufacturing company says Tanzania’s airbus plane is the first one for airways companies on the African continent as the country’s reform minded President John Pombe Magufuli rocks the African skylines.
IT is no doubt that the three years of President Magufuli in power has ushered in significant progress for Tanzania but this is not good news for prophets of doom whose interests and those of their proxies have been thrashed through the purge on corruption and review of dubious contracts in their favour.
When US President Donald Trump decided to leave the Trans-Pacific Partnership trade pact, in 2017 a new chapter on global trade was being designed. The US went ahead to unilaterally impose taxes on imports from the European Union, China, Canada and Mexico. This prompted a “tariff war” as all these countries retaliated by imposing similar taxes on US imports. For the better part of 2018 the US and China the two largest economies have been caught up in a trade war by subjecting imports from each other to what is being interpreted as ‘punitive tariffs’.
Nairobi is Kenya’s capital city. This city of 4 million inhabitants today has stoically held to the status of East Africa’s financial, technological and communications hub since 1907. Nairobi has a long history spiced by local cultures, trade with Persia, Middle East, India, the Far East and the beginning of British colonialism.
