The EconomicPost

By: Natasha Odendaal JOHANNESBURG (miningweekly.com) – Dual-listed Kibo Mining is adopting a diversified production strategy for the Mbeya coal mine, in Tanzania , which could potentially result in production starting earlier than planned. This followed a “careful study” of the Mbeya coal -to- power project (MCPP) integrated bankable feasibility study (IBFS), which showed the move to be feasible and as having the potential to significantly enhance the economics of the Mbeya coal mine.

By Mnaku Mbani In an effort to create conducive environment for turning it into an industrial economy, Tanzania is finding the way to copy the western mode to accelerate its idea of making it an industrial hub. Tanzania, the second East Africa largest economy, is targeting to become a middle income country, driven by industries by the year 2025, which is seen as crucial for inclusive economy.

DAR ES SALAAM: A mother of two, Mwanaidi Mrisho has been a fishmonger for the past decade. Each day, she commutes from the Magogoni Fish Market, at the western-most end of Dar es Salaam, to Kimara-Mwisho, about 20 kilometers outside the city. The onerous daily commute has taken its toll on her well-being and her livelihood. “It used to take me up to three hours to travel from Kimara to Magogoni and back every day due to traffic jams,” explains Mrisho. “I would aim to be on the road by 5:00 am at the latest in order to make it to the fish market before 8:00 am.”

The first ever Tanzania and Zambia trade forum scheduled today will be held at Radisson Blu in Lusaka, Zambia. The forum will seek to engage and empower Tanzania and Zambia business people to venture beyond boundaries, provide networking opportunity for the various stakeholders within these two counties, but also this forum will seek to provide capacity building to local entrepreneurs from Rukwa, Songwe and Mbeya so that they can effectively be able to do business with their Zambian counterparts.

Geneva, Switzerland: Building on the success of last year’s inaugural search, the World Economic Forum has started the process to select the top female tech innovators in Africa, who will be invited to share their experience and engage with leaders at the Forum’s regional meeting this spring. The search is open to any female entrepreneur whose business is less than three years old, uses innovative technology or business models, and has at least one year of revenue generation. The business must also be able to demonstrate social and economic potential.

By Mnaku Mbani A total of 36 Tanzanian entrepreneurs have been nominated among 1,000 African Entrepreneurs selected for the 2017 TEF Entrepreneurship Programme. They join  2,000 alumni from the 2015 and 2016 rounds. The selected entrepreneurs wrote their business ideas on agriculture and agricultural business, manufacturing, waste management, fashion, education and training, consultancy and commercial/ retail activities.

BADEN BADEN, Germany: — Following a meeting with G20 finance ministers and central bank governors, World Bank Group President Jim Yong Kim today announced a record $57 billion in financing for Sub-Saharan African countries over the next three fiscal years. Kim then left on a trip to Rwanda and Tanzania to emphasize the Bank Group’s support for the entire region. The bulk of the financing – $45 billion – will come from the International Development Association (IDA), the World Bank Group’s fund for the poorest countries.

By Mnaku Mbani The government of Tanzania borrowed Tsh1.6 trillion during the year ended in January 2017 to TZS 10,468.2 billion at the end of January 2017 from Tsh8.8 trillion recorded in January 2016. According to Bank of Tanzania Monthly Economic Review for February 2017 has said that on month-to-month, the debt increased by TZS 14.0 billion from the preceding month. However, the profile of domestic debt by instruments remained almost the same as in December 2016.

By Mnaku Mbani Tanzania’s current account narrowed to a deficit of USD 1,796.6 million In the year to January 2017compared with a deficit of USD 3,809.6 million in the corresponding period in 2016. The Bank of Tanzania Monthly Economic Review for February 2017 indicates that the reduction in the deficit was on account of an increase in export and a decrease in import. During the year ending January 2017, exports of goods and services increased by 5.1 percent from the corresponding period in 2016 to USD 9,342.1 million. The improvement occurred in exports of gold, traditional crops and travel receipt.

By Mnaku Mbani The seven year treasury bonds floated on Wednesday by the Bank of Tanzania were undersubscribed, which indicated the movement of investors from securities to equities. The Bank of Tanzania auction results shows that a total of 85 bids were received but only 37 were successful. The Bank of Tanzania planned to collect Tsh138 billion from the sale of the bonds but only Tsh96.9 billion were tendered. At the end of the auction, and only Tsh15.56 billion were successful.

By Mnaku Mbani Total number of employees in the formal sector in Tanzania Mainland increased to 2,334,969 in 2015 from 2,141,351 recorded in 2014, this is an increase of 193,618   over a period of one year, which is lower than that recorded in 2013 and 2014 (282,382). According to the formal Sector employment and earnings survey 2015, Tanzania Mainland published by the National Bureau of Statistics total number of employees in the private sector (1,568,165) is nearly twice that of the public sector (766,803).

BLOOMBERG: S INGAPORE – Gold ’s feeling the strain. Bullion’s being tugged back down toward $1 200/oz in the worst losing run since October as positive US economic data reinforce expectations that interest rates will probably be raised several times this year, starting with a hike next week. Bullion for immediate delivery lost as much as 0.4% to $1 203.98/oz, the lowest level since February 1 and traded at $1 204.39 at 6:47 in London , according to Bloomberg generic pricing. It’s lower for a fourth day, while yields on ten-year Treasuries up for a ninth session.

By Mnaku Mbani Acacia Mining share price gained by 6.90 per cent yesterday at the Dar es Salaam Stock Exchange after falling for almost one week. The DSE market price has shown that the company share price went up to Tsh12,400 on Wednesday from Tsh11,600 recorded earlier this week.The increase of Acacia mining, which has the highest market capitalization at DSE has also pushed up the market capitalization.

Vodacom Group Limited’s Tanzanian unit will begin an initial public offering today, the first in a series of listings expected on the domestic exchange that may spur mergers and acquisitions, Managing Director Ian Ferrao said. The company plans to raise 476 billion shillings ($213 million) in an offering of 560 million shares at 850 shillings each, according to a prospectus issued to brokers on Tuesday and confirmed by Ferrao. It expects to list on the Dar es Salaam Stock Exchange on May 16.

By Mnaku Mbani Consumers in Tanzania spent more to obtain goods and services last month following an increase of inflation rate. The National Bureau of Statistics (NBS) reported yesterday that the inflation rate for February increased to 5.5 per cent from 5.2 per cent recorded in January this year.

By Mnaku Mbani Acacia Mining shares fell by 16.5 per cent today at the Dar es Salaam Stock Exchange (DSE) following an announcement by the government of Tanzania to ban copper concentrate. The DSE reports today has shown that the decrease of Acacia shares has also affected the market capitalization as it has fallen to Tsh18.8 trillion today from Tsh20 trillion recorded during the end of last month.

By Mnaku Tanzania Producer Price Index for the third quarter of last year for all industry (overall index) recorded a decrease from 116.2 for the third Quarter (July-September 2016) to 115.1 for the fourth Quarter (October-December 2016). According to the Producer Price Index published by the National Bureau of Statictics (NBS), the main activities that lead to the decrease in price for the fourth Quarter of year 2016 were mining and quarrying which recorded a decrease of (6.8) percent and Manufacture of tobacco products (5.1) percent.

By Mnaku Mbani After falling for almost two weeks in row to the lowest level of seven per cent, the lowest in fourteen months, the Tanzania Inter-bank rates has started to edge up. The Bank of Tanzania inter-bank money market report for today shows that the rates has edged up to 8 per cent today from 7.35 yesterday.

J OHANNESBURG (miningweekly.com) – The proposed sale of dual-listed Kibo Mining ’s northern Tanzania -based gold assets, Imweru and Lubando, to London -listed Opera Investment , is one step closer to completion, after the projects ’ resources were upgraded. The two companies in September signed a heads of agreement for the unloading of Kibo’s wholly-owned UK subsidiary Sloane Developments for 61-million Opera shares of 1p issued at a price of 6p apiece.

By Mnaku Mbani The two years Treasury bond floated by Bank of Tanzania yesterday was oversubscribed by Tsh80 billion which indicates an increased liquidity in the market. The Bank of Tanzania auction results shows that a total of Tsh209.2 billion were tendered against Tsh128.5 billion offered.

By Mnaku Mbani Liquidity levels on financial markets have continued to improve after the inter-bank rates stabilized to seven per cent over the last two weeks. The bank of Tanzania reports have shown that the inter-bank rates fell to the lowest level of seven per cent in February 23, the lowest in fourteen months. Analysts in financial markets say the slow of inter-bank rate was the result of improvement of liquidity level, which have also seen in other financial markets including equities and government securities.

(Dar es Salaam) – More than 40 percent of Tanzania ’s adolescents are left out of quality lower-secondary education despite the government’s positive decision to make lower-secondary education free. The 98-page report, “‘ I Had a Dream to Finish School’: Barriers to Secondary Education in Tanzania ,” examines obstacles, including some rooted in outmoded government policies, that prevent more than 1.5 million adolescents from attending secondary school and cause many students to drop out because of poor quality education.

Yahoo.com: The iPhone SE has been a quiet hero for small-handed folk ever since it launched in March of last year. The body of an iPhone 5 with an iPhone 6s’s guts was a good proposition in 2016, but with an all-new iPhone 8 expected this year and Samsung stepping up its game, the iPhone SE needs some help to stay relevant. The latest signs all point to Apple changing things up in a rumored March event. According to  MacRumors , Target began returning iPhone SE models to Apple this week, which is a big hint that something new could be just around the corner.

By Mnaku Mbani Formal manufacturing in Tanzania has grown significantly in the last decade, which indicates that there has been an improvement of Manufacturing Value added ((MVA). According to the working paper on Industry in Tanzania published by United Nations University (UNU-WIDER) last year, between 2000 and 2010, manufacturing value added (MVA) more than doubled in real terms from US$894 million to US$1,992 million.

By Mnaku Mbani Domestic investors made a comeback this week at the Dar es Salaam Stock Exchange (DSE) after disappearing from the market since the end of last year. The market report has shown that since the start of this week, number of domestic investors has growth fast, which indicate an increased investors’ appetite for equities.