Tanzania News Archives - AfricaBusiness.com

d.light closes new USD$176 million securitization facility for affordable off-grid solar in Kenya, Tanzania and Uganda

17Jul

By Africa BusinessNo Comments

Energy, Kenya News, Tanzania News, Uganda News

d.light closes new USD$176 million securitization facility for affordable off-grid solar in Kenya, Tanzania and Uganda

Off-grid solar provider d.light and impact investor African Frontier Capital partner on new financing to support consumer loans for solar and high efficiency appliances in East Africa d.light, the global provider of transformational household products and affordable finance for low-income households, today announced the closing of a new securitization facility that will purchase USD$176 million of receivables in Kenya, Tanzania and Uganda. The new financing is being provided by social impact-focused asset management company African Frontier Capital. d.light will use the facility to scale up its PayGo consumer finance offering to make solar-powered products available to more low-income households and communities without access to electricity. The facility is multi-currency and will enabl...

27Jun

By Africa BusinessNo Comments

African News, Burundi News, Tanzania News, Uganda News

Atlas Network Names Three Finalists for 2024 Africa Liberty Award

From Burundi to Tanzania and Uganda, Africa’s freedom champions are improving the lives of millions of people Arlington, VA — Today, Atlas Network—the nonprofit organization that partners with nearly 600 independent think tanks in over 100 countries worldwide—announced its finalists for the 2024 Africa Liberty Award, which honors the region’s most outstanding freedom champion. The three finalists for this year’s award are Burundi’s Centre For Development and Enterprises Great Lakes (represented by chief executive Manirakiza Aimable); Tanzania’s Liberty Sparks (represented by CEO Evans Exaud); and Uganda’s Ethical African Organization (represented by director Lutakome Imran Kigongo), with all three organizations making innovative contributions to economic freedom and human progress. Atlas...

1Dec

By Africa BusinessNo Comments

Agriculture, Tanzania News

Tanzania loses sunflower industry boost for 2024 on stalled seed subsidy scheme

By FarmBizAfrica.com Tanzania’s drive to industrialize its sunflower sector has stumbled for the 2023/2024 growing season on a deal to bulk-source high-yield seeds for the country’s one million sunflower farmers. The deal, funded by the African Development Bank, was for 700 tonnes of hybrid seeds, to deliver yields and oil up to 65 percent percent greater than traditional varieties. The government planned to provide the seeds at subsidized prices for the growing season that began in October. However, the supply has proved difficult to secure on a change of strategy around which hybrid seeds to use. Tanzania has been investing heavily in sunflower processing to reduce its hefty edible oil imports, which account for between $90m and $250m a year. The government has also moved to introduc...

14Aug

By Africa BusinessNo Comments

Energy, Tanzania News

d.light closes USD$125M funding through a securitization facility to meet growing demand for off-grid solar products in Tanzania

New funding brings total potential in securitized financing raised since 2020 to USD$490M d.light, the global provider of transformational household products and affordable finance for low-income households, today announced a $30 million securitization facility has been successfully secured from the Eastern and Southern African Trade and Development Bank Group (TDB Group), with the capability to purchase up to $125 million of receivable assets. d.light will use the capital to increase its existing securitized financing facility in Tanzania and scale up its low-cost Pay-Go personal finance service in the country so that more low-income people and households can purchase the company’s affordable, solar-powered household products. d.light has now raised $490 million in total securitized f...

2Feb

By Africa BusinessNo Comments

African News, Business, Tanzania News

The impact of the African Continental Free Trade Area on the continent’s mining sector

By Virusha Subban, Partner specialising in Customs and Trade, and Head of Tax, Baker McKenzie, Johannesburg Africa is the world's top producer of numerous critical mineral commodities. With the rapid increase in the rate of global energy transition, the continent's mining industry has a role to play in sourcing and supplying these critical minerals for use in clean energy projects, manufacturing capacity, electric vehicles and other sustainable solutions. The continent is a large supplier of bauxite, chromium, cobalt, copper, diamond, gold, iron ore, platinum group metals, lithium, rare earth metals and zinc, for example, with most of them being exported as ores, concentrates or metals. Exporting these critical minerals as raw materials, however, reduces Africa's trading position to one ...

30Oct

By Baker McKenzieNo Comments

Egypt News, Energy, Ghana News, Kenya News, Morocco News, Namibia News, Nigeria News, South Africa News, Tanzania News, Uganda News

Africa: Energy transition policies and regulatory developments light up across the continent

Across the continent, countries in Africa are gearing up for the energy transition by implementing policy and legislative frameworks that take into account the energy crisis and the need for a renewable, decarbonized, decentralized energy supply that addresses climate change and the commitments made under the Paris Agreement. Ahead of the United Nations Climate Change Conference, COP 27, in Egypt in November this year, lawyers in Egypt, Ghana, Kenya, Morocco, Namibia, Nigeria, South Africa, Tanzania and Uganda have outlined the efforts taken by the governments in their countries to address this urgent need to harness renewable power. Such efforts are expected to provide exciting opportunities for investors in the African energy sector. Egypt Lamyaa Gadelhak, Baker McKenzie Cairo Partner ...

Tanzanian startups nominated for TAW final in Ethiopia

15Sep

By Africa BusinessNo Comments

Ethiopia News, Startups, Tanzania News

Tanzanian startups nominated for TAW final in Ethiopia

The TAW (Tech African Women) program, launched by the UNECA (United Nations Economic Commission for Africa) in partnership with Betacube, closed its 3-day Tanzanian bootcamp on the 31st of August 2022. The two Tanzanian winning startups were awarded the program's participation prize, with $2,000 for the first winner Ujana. The selection was based on the market potential of each startup idea and was made after a pitching competition in front of a local jury panel representing different actors in the ecosystem. During this closing day of the Tanzanian bootcamp, an award ceremony was organized for the candidates. The two nominees were Ujana, an E-commerce platform for Sexual-Reproductive health supplies (1st prize) and Plate AI (2nd prize), a food app that recommends thousands of healthy foo...

4Jul

By Jana BothaNo Comments

Ghana News, Kenya News, Main, Namibia News, Nigeria News, South Africa News, Tanzania News, Zambia News, Zimbabwe News

Indirect tax developments in Sub-Saharan Africa

By Jana Botha, VAT Consultant, Baker McKenzie Johannesburg There have been significant developments in indirect tax within Sub-Saharan Africa (SSA) in the past year. The vast majority of developments have been based around VAT amendments and policies, as well as general budget updates for 2022 across SSA. This article includes key developments from Ghana, Kenya, Namibia, Nigeria, South Africa, Tanzania, Zambia and Zimbabwe. Ghana The Parliament of Ghana passed the Value Added Tax (Amendment) Act, 2021 (Act 1072) to bring VAT proposals into effect. The Amendment Act came into force 1 January, 2022. The policy includes a revision of the VAT flat rate scheme (VFRS). Act 1072 has now revised the application of VFRS to only cover retailers of goods where the value of taxable supply is betw...

17Sep

By Africa BusinessNo Comments

Ethiopia News, Tanzania News, Uganda News

DW Akademie Film Development Fund – Tanzania and Uganda – Applications Open

Promoting film production in the Global South From September 14, 2021, filmmakers from Tanzania and Uganda are invited to apply for film development funding and training offered by DW Akademie. The German media development organization DW Akademie is looking for filmmakers from Uganda and Tanzania who have already made one or more films and would like support in developing their next project. Up to five successful candidates from each country will be selected by separate juries in January 2022 and receive a maximum of 10,000 euros and one year of mentorship to help develop their film ideas. The program will include workshops and skills development by industry professionals mainly from the Global South. These tailor-made trainings will enable the successful candidates to take their projec...

16May

By Africa BusinessNo Comments

Energy, Green Energy, Kenya News, Startups, Tanzania News

Solar Cow- a Samaritan for the Children in Need

The relief of indigence is the primary goal in bringing about a positive change in the lifestyles of children in Africa. To this day, 1 in every 5 children in Africa is devoid of the right to education owing to child labor. Since electricity is a dire need of people even in the utmost rural areas, many low-income families rely on kerosene lighting and exorbitantly expensive charging stations (taking up to 15% of their monthly income) to meet their energy needs, forcing children to toil hard to contribute to their income. That’s why YOLK invented ‘The Solar Cow’ – one of Time Magazine’s 100 Best Inventions of 2019. It’s a solar charging system installed in schools in the backward regions of Africa, allowing children to charge portable batteries called ‘Solar Milk’ while they attend class an...