Dar es Salaam. Good morning! The Chanzo is here with a rundown of major news stories reported in Tanzania on Tuesday, June 28, 2022.
Russia concerned with its low trade volume with Tanzania
Russian Ambassador to Tanzania Mr Andrey Avetisyan said in Dar es Salaam on Tuesday that while his country shares a long ambassadorial relationship with Tanzania, trade and economic exchange between the two countries have relatively remained low.
Mr Avetisyan said more mechanisms are needed to strengthen the relations for the benefit of the two countries and their people.
“Trade between the two countries currently accounts for about 200 million US dollars, while we have more potential to expand this and grow together,” the government-owned Daily News newspaper quoted Mr Avetisyan as saying. “To address this, there is an ongoing discussion on how we can intensify trade and where possible come up with a joint commission to address this matter.”
Mr Avetisyan said the Samia Suluhu Hassan-led government has already shown interest in opening up the doors for attracting foreign investment, an opportunity that his country is ready to grab in the sectors of energy, agriculture, food production and expanding media exchange on the opportunities available in Russia for Tanzanians to seize.
“Some Tanzanian products like tea, coffee and cashew nuts are of good quality and high demand in Russia, yet supply is still very low,” Mr Avetisyan added. “This is our job in the new trade strategy to open up more markets for these products so that Tanzanians can export more to our market.”
The envoy unveiled that other areas for intensifying cooperation, include cementing cultural exchange, while Tanzanian dances, arts and other cultural practices were catching the eyes of many Russian citizens, while his country has a cultural centre in Dar es Salaam which is a good starting point.
TANROADS tours UAE to seek collaborators in Tanzania’s road infrastructure
Delegates from Tanzania National Roads Agency (TANROADS) toured the United Arab Emirates (UAE) earlier this month in what their host, CEO Clubs Network Worldwide, described as an attempt by the road agency to encourage foreign direct investment by promoting commercial possibilities and collaborations in Tanzania’s road infrastructure.
Delegates included Eng. Alois Matei, Director of Roads, Ministry of Works, and Transport, who also served as the delegation’s leader; Mr Bencolias Tinkaigaile, Director of Infrastructure Planning; and Mr Richard Mkumbo, Director of Policy and Planning at the Ministry of Works.
Delegates met with members of CEO Clubs Network Worldwide as well as investors from the UAE during an event that was held at the World Trade Centre, Dubai.
Dr Tariq Ahmed Nizami, CEO & Founder of CEO Clubs Network Worldwide was quoted as describing TANROADS as one of Africa’s premier road agencies, with a favourable investment climate.
“The Tanzanian delegation arrived in the UAE earlier this month and CEO Clubs welcomed them,” Dr Nizami was quoted as saying. “Tanzania’s National Roads Agency strives to encourage foreign direct investment by promoting commercial possibilities and collaborations in the country’s road infrastructure.”
With more than 600 member companies in addition to 3000 affiliations and connecting over 16000 CEOs worldwide, CEO Clubs Network Worldwide is run under the patronage of His Highness Sheikh Juma Bin Maktoum Juma Al Maktoum from the Dubai Royal Family.
Selcom, Nala team up to power inbound remittances
Selcom Tanzania and Nala Money on Tuesday signed a partnership to power inbound remittances from the United Kingdom (UK) and United States (US) to Tanzania in real-time to mobile money wallets and bank accounts.
The agreement also foresees an increase in the inflow of cash to Tanzania from Diaspora in the UK and US, a move that would help boost investment in various sectors such as health, education and agriculture.
Selcom Executive Director Mr Sameer Hirj told journalists on Monday that the partnership also plays a role in supporting economic growth in the country through investments by members of the diaspora.
“Selcom’ a state-of-the-art interoperability engine will be an invaluable and strategic addition to Nala’s community-powered financial solutions,” he said. “Our operating system enables customers to send money on a transparent and efficient platform.”
Nala Chief Executive Officer Mr Benjamin Fernandez said the company is determined to deepen its presence in Tanzania for the greater interest of members of the diaspora and Tanzanians at large.
“As we expand our product and reach, it’s more important to secure second-to-none partners to deliver on this ambition,” Mr Fernandez told journalists. “Selcom’s position as a leading player in financial infrastructure places it at the centre of financial innovation and creates the ingredients for a fruitful partnership.”
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