Dar es Salaam. Good morning! The Chanzo is here with a rundown of major news stories reported in Tanzania on Tuesday, September 12, 2023.
Tanzania’s new Public Procurement Act: Reforms or business as usual?
Public procurement stakeholders in Tanzania are eagerly waiting for the government to release the regulations for the newly enacted Public Procurement Act of 2023 to decide whether the legislation addresses pertinent issues they have been pointing out.
Passed by the parliament on September 07, 2023, the new law replaces the Public Procurement Act of 2011. Described by the government as “reformist,” the new law emphasises value for money and provisions that guide supply in the country.
It also establishes a framework for procurement for public entities that run commercial enterprises. Read The Chanzo’s analysis of the new law here.
Tanzania mulls opening embassies in Iran, Pakistan
Deputy Minister of Foreign Affairs Ambassador Mbarouk Nassor Mbarouk said on September 8, 2023, that the government is assessing the possibility of opening embassies in Iran and Pakistan, saying the move intends to explore business opportunities available in those countries.
Ambassador Mbarouk was responding to a question from Bahi MP (Chama cha Mapinduzi – CCM) Kenneth Ernest Nollo, who wanted to know if the government is considering opening embassies in the two countries, which opened their embassies in Tanzania many years ago without reciprocation.
Iran and Pakistan have had their embassies operating in Tanzania for 56 and 40 years, respectively.
Full story here.
Tanzanian fintech Tembo obtains PSP license from BoT
Tembo, a Tanzanian fintech startup building infrastructure for financial services across Africa, has received its Payment Service Provider (PSP) license from the Central Bank of Tanzania.
The startup provides APIs and SDKs for businesses to embed and launch payments, collections, cards, wallets, and programable bank accounts across Africa.
The latest milestone enables Tembo to provide various financial services, including domestic and cross-border payments, merchant services, and general payment processing.
Following the development, the company said it is committed to enhancing its existing digital banking offerings and expanding its reach across Africa through strategic partnerships and cutting-edge solutions.
Victor Joseph, the company’s co-founder & CEO, told TechNext24: “Working closely with the regulator is a tremendous opportunity. We deeply appreciate their support and guidance as we embark on this journey to advance financial inclusion in our nation.”
Since its founding, Tembo has partnered with central banks, remittance companies, e-commerce platforms, mobile money operators, and digital lenders across Tanzania, Kenya, Rwanda, Uganda, and Nigeria.
Among its various services, the company allows clients to create multiple savings goals to achieve their dreams, whether buying a home, starting a business, or planning retirement.
It also allows you to add money to your savings goals using various payment methods.
Reuben Mwatosya, Tembo’s Co-founder & COO, expressed his excitement and dedication to Tanzania as the company’s home market.
“This shows our commitment to Tanzania as our home market, and we continue investing in the country while expanding across East Africa before venturing into West Africa,” he said.
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