In this article, we highlight some of the key recent developments in East Africa amid the Covid-19 outbreak. The article looks at how governments and private sector companies in the region continue to pursue major economic projects across key sectors, while addressing the challenges they are facing in light of the COVID-19 pandemic.
Government allocates 13.5 hectares for palm farming
With a view to increasing domestic production of edible oils, the government has allocated to the Tanzania Investment Centre (TIC) 13.5 hectares of land in Uvinza District, Kigoma to be used for palm farming. This was confirmed by TIC’s executive director, Godfrey Mwambe during his tour in the district. According to Mr. Mwambe, the statistics show that Tanzania currently imports 400,000 tons of palm oil and spends up to Tanzanian shillings 600 billion (approximately USD 260 million) to import edible oil.
The TIC is established under the Tanzania Investment Act (TIA). The primary objective of the TIC is to be a one-stop centre for investors and the primary agency of the government to co-ordinate, encourage, promote and facilitate investment in Tanzania and to advise the government on investment policy and related matters.
An investor can apply to be registered by the TIC in order access fiscal and non-fiscal incentives, benefits and protection under the TIA. Once registered the investor will be issued with a Certificate of Incentives.
Other than businesses that are involved in activities such as mining, and oil and gas, businesses which meet the following criteria may be registered for incentives under the TIC:
> If wholly owned by a foreign investor or a joint venture, the minimum investment is USD 500,0000; and
If locally owned the minimum investment is USD 100,000.
Government to construct mineral strong rooms
The government plans to construct strong rooms at various airports in the country, as a strategy to ensure promotion of the mineral business, safety and to improve the business environment in general. This was said by the Deputy Minister for Works, Construction and Communication, Mr Elias Kwandikwa, at a consultative meeting held in Mwanza with various stakeholders in the mining sector.To ensure improvement in the business environment, the government through various ministries has been undertaking consultative meetings in order to understand the challenges facing various sectors and to get the stakeholders’ view on how those challenges can be dealt with. There have been several consultative meetings in the mineral sector […]