Dar es Salaam. Good morning! The Chanzo is here with a rundown of major news stories reported in Tanzania on Monday, April 17, 2023.
Tanzania signs deals worth $600 with three Australian mining companies
President Samia Suluhu Hassan on Monday witnessed the signing of deals worth US$600 million with three different Australian companies as Tanzania seeks to gain more from its vast wealth of minerals.
During a function at the State House in Dodoma, the Head of State witnessed her administration closing deals with Evolution Energy Minerals Limited, EcoGraf Limited and Peak Rare Earth Limited.
The government and the companies signed between Tanzania and the firms are framework agreements, shareholding agreements, memorandums, and articles of association agreements.
With EcoGraf Limited, Tanzania agreed to the development and operation of the Epanko Graphite Project in Morogoro. An initial investment worth US$127.7 million will be made.
With Peak Rare Earths Limited, the government agreed to the development of the Ngualla Rare Earth Project with an initial investment of US$439 million.
With Evolution Energy Minerals Limited, the Samia Administration agreed to the development of the Chilalo Graphite Project in Lindi with an initial investment worth US$100 million.
Prof Palamaganda Kabudi, the government’s negotiating team chairman, said the signed Framework Agreement and Shareholder Agreements confirm the government’s 16 per cent non-diluted free carried interest shareholding as one of the contents of the contracts.
the government will get more shares when there is a discovery of other minerals in the areas of projects or the government investment in the construction of infrastructures in the areas, he said
“We have put in place a procedure to ensure that Tanzanians participate in the highest leadership positions to the joint venture company as well as the procedures for their selection including Chief Executive Officer, Chief Operating Officer, Chief Finance Officer, Chief Human Resource Officer,” said Kabudi.
AfDB, EU, And France invest $300m in Tanzania’s hydropower project
The government of Tanzania, the African Development Bank (AfDB), and the French Development Agency (AFD) have signed agreements for two development project loans worth $300 million.
In a statement released on April 14, 2023, AfDB said that the funds will finance the construction of the 87.8-megawatt Kakono Hydropower Plant located in the Kagera region in the northern part of Tanzania.
The project also received a grant of EURO 36 million from the European Union (EU). According to the statement, the signing ceremony occurred on March 15, 2023, in Dar es Salaam.
Tanzania depends on hydropower and thermal power plants—mainly gas-fired—for its electricity supply.
However, AfDB stated that the East African nation has considerable untapped renewable energy potential to meet its rapid growth while taking a low-carbon path.
A coalition of development partners is financing the Kakono Hydropower Project, intended to increase renewable generation capacity and reduce hydrological risk via a dam located on a new watershed less affected by droughts.
The Kakono Hydropower Plant results from close collaboration between the African Development Bank, Agence Francaise de Developement, and the European Union.
Full story here.
‘Diary of an African Hub Manager’: Book examining Tanzania’s innovation ecosystem launched
Tanzania’s innovation ecosystem received a boost here late last week following the launch of a new book that examines the East African country’s innovation landscape, providing answers to hitherto unanswered questions.
Titled Diary of an African Hub Manager: Lessons In Growing Our Innovation Systems, the book was launched on Friday, April 14, 2023, at the Tanzania Commission for Science and Technology (COSTECH), during a function attended by some of the ecosystem’s key players.
Authored by Jumanne Mtambalike, one of Tanzania’s notable innovators and technology enthusiasts, the book addresses – among other questions – why Tanzania is lagging behind regarding innovation and investment issues.
“Why every day are Kenya, Nigeria, and South Africa?” Mtambalike asked during the launching ceremony. “Where are we [Tanzania] failing?”
An innovation ecosystem comprises interdependent and interconnected stakeholders, including end-consumers, innovators, investors, regulators, and educational institutions.
According to the United Nations Capital Development Fund (UNCDF), in 2019, Tanzania demonstrated high mobile phone penetration (82.2 per cent), a growing number of active mobile money accounts (24 million), and the value of digital financial transactions equated to 50 per cent of total GDP.
But the organisation and other stakeholders think the country needs to do more to build a resilient national innovation ecosystem.
Full story here.
Vodacom Tanzania launches loyalty programme for freelance agents
Vodacom Tanzania has launched a unique incentive programme for its freelancers whereby the operator will reward its top agents with prizes, including a full-paid trip to South Africa at the end of the year.
The Daily News newspaper quoted Vodacom Tanzania Commercial Business Director Linda Riwa as saying that recognising the significant contribution of agents was part of efforts to encourage their performance.
Other prizes include motorcycles, bicycles, music speakers, health insurance, gas cookers, televisions, mobile phones and mattresses.
To increase their chances of winning these prizes, they must demonstrate diligence by registering as many new customers as possible to join Vodacom’s network.
In addition, these registration agents will continue to receive bonuses such as cash and instant data bundles every time they achieve their daily targets, discounted prices on starter packs, and instant M-Pesa bonuses when newly connected customers purchase data bundles using M-Pesa. The total value of all the prizes and bonuses is over Sh2 billion.
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