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    Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

    Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

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              Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

              Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

              Africa: Nigeria, Egypt Top $95 Billion Remittance Surge, Unlocking New Investment Frontiers

              Africa: Nigeria, Egypt Top $95 Billion Remittance Surge, Unlocking New Investment Frontiers

              Nigeria: Customs Integrates CBN, FIRS, Banks into B’Odogwu Platform to Digitize Trade Efficiency

              Nigeria: Customs Integrates CBN, FIRS, Banks into B’Odogwu Platform to Digitize Trade Efficiency

              Africa: Nigeria Ascends Global Customs Leadership as CGC Adeniyi Becomes WCO Council Chair

              Africa: Nigeria Ascends Global Customs Leadership as CGC Adeniyi Becomes WCO Council Chair

              Kampala Road Works: Kigenyi urges safety, order

              Kampala Road Works: Kigenyi urges safety, order

              Kenya secures EBRD African hub

              Kenya secures EBRD African hub

              Nigeria, Rwanda sign double taxation treaty

              Nigeria, Rwanda sign double taxation treaty

              Trending Tags

              • FEATURES
                Meet Sidi Ould Tah: Newly President of African Development Bank Group

                Meet Sidi Ould Tah: Newly President of African Development Bank Group

                Meet the newly appointed executives steering NNPC Limited

                Meet the newly appointed executives steering NNPC Limited

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Haruna Iddrisu: The Politician, Lawyer, and Latest  Minister of Ghana’s Ministry of Education

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Agnes Naa Momo Lartey: The Minister Designate for the Ministry of Gender, Children and Social Protection in Ghana

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Justina Nelson: A Banking Visionary and Strategic Leader Who Takes Over MIIF as Acting Chief Executive Officer

                Meet Nigeria’s Newly Nominated Ministers

                Meet Nigeria’s Newly Nominated Ministers

                Nigeria’s $5 billion FLNG project gets Presidential endorsement

                FULL TEXT: President of Nigeria 2024 Independence Day speech

                Trending Tags

                • DIGITAL ECONOMY
                  Tanzania signs deal with Cuban firm to enlarge TBPL

                  Tanzania signs deal with Cuban firm to enlarge TBPL

                  Meet Netumbo Nandi-Ndaitwah: Namibia’s First Female President

                  Namibia: President Nandi-Ndaitwah unveils new cabinet

                  Kenya: Ministry of Health outlines SHA compliance measures

                  Kenya: Ministry of Health outlines SHA compliance measures

                  South Africa: Durban Port to expand vehicle terminal

                  South Africa: Durban Port to expand vehicle terminal

                  Botswana, Türkiye aim for stronger ties

                  Botswana, Türkiye aim for stronger ties

                  Nigeria to host 2025 Afreximbank annual meetings

                  Nigeria to host 2025 Afreximbank annual meetings

                  Ghana:Adjei reaffirms commitment to expanding urban water supply

                  Ghana:Adjei reaffirms commitment to expanding urban water supply

                  Mahama reaffirms commitment to economic stability

                  Mahama reaffirms commitment to economic stability

                  Kenya Government Embarks on County Industrialization Initiative to Boost Trade and Employment

                  Kenya Government Embarks on County Industrialization Initiative to Boost Trade and Employment

                  Trending Tags

                  • INTERVIEW
                    Botswana Stock Exchange’s Strategic moves to attract foreign investors: Insights from CEO ; Kopano Bolokwe

                    Botswana Stock Exchange’s Strategic moves to attract foreign investors: Insights from CEO ; Kopano Bolokwe

                    Transforming Botswana’s Public Service: Gaone Manzini on Leadership, Integrity, and Vision for the Future

                    Transforming Botswana’s Public Service: Gaone Manzini on Leadership, Integrity, and Vision for the Future

                    White House Welcomes Kenya William Ruto for First African State Visit

                    White House Welcomes Kenya William Ruto for First African State Visit

                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                    Sierra Leone Seeks Upstream Partners to Fast-Track Exploration, says Petroleum Directorate

                    Ghana’s registra department: driving digitization for effecient services

                    Ghana’s registrar department: driving digitization for efficient services

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Nigerian’s First Lady Aisha Buhari in Talks on Plans After Husband’s Presidency

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    Cedi expected to end 2020 with less than 5% depreciation to dollar Says Expert

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    “Citizen Gate is Designed to bring the government closer to the people”- Mr. Toba Otusanya, DG, Lagos State Office of Transformation, Creativity & Innovation

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    I cherish and treasure my reputation for probity and accountability,– Dr. Babatunde Ajibade, SAN

                    Trending Tags

                    • EVENTS
                      • PUBLIC SECTOR AWARDS
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                      Ghana: Vice President Bawumia launches Credit Scoring System

                      Ghana: Vice President Bawumia launches Credit Scoring System

                      FAAN MD Olubunmi Oluwaseun Kuku has emerged as Public Sector Global CEO of the Week

                      FAAN MD Olubunmi Oluwaseun Kuku has emerged as Public Sector Global CEO of the Week

                      Sam Shivute, Commissioner General, Namibia Revenue Agency has Emerged as Public Sector Global CEO of the Week

                      Sam Shivute, Commissioner General, Namibia Revenue Agency has Emerged as Public Sector Global CEO of the Week

                      Ms. Hapiloe Sello, Chief Executive Officer, South African National Parks has Emerged as Public Sector Global CEO of the Week

                      Ms. Hapiloe Sello, Chief Executive Officer, South African National Parks has Emerged as Public Sector Global CEO of the Week

                      Dr. Douglas Letsholathebe, Minister of Education and Skills Development, Botswana has Emerged as Public Sector Global Minister of the Week

                      Dr. Douglas Letsholathebe, Minister of Education and Skills Development, Botswana has Emerged as Public Sector Global Minister of the Week

                      Bashir Adewale Adeniyi MFR, Comptroller General, Nigeria Customs Service has Emerged as Public Sector Global CEO of the Week

                      Bashir Adewale Adeniyi MFR, Comptroller General, Nigeria Customs Service has Emerged as Public Sector Global CEO of the Week

                      Ms. Latifa Mohamed Hamis, Director General, Tanzania Trade Development Authority, has Emerged as Public Sector Global CEO of the Week

                      Ms. Latifa Mohamed Hamis, Director General, Tanzania Trade Development Authority, has Emerged as Public Sector Global CEO of the Week

                      The Minister of Health, Morocco, Hon. Khalid Ait Taleb has Emerged as Public Sector Global Minister of the Week

                      The Minister of Health, Morocco, Hon. Khalid Ait Taleb has Emerged as Public Sector Global Minister of the Week

                      Esther Ngari Emerges Public Sector Global ‘CEO of the Week’

                      Esther Ngari Emerges Public Sector Global ‘CEO of the Week’

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                      Tanzania, third fastest growing economy in Africa – United Nations states

                      Public Sector Global by Public Sector Global
                      April 25, 2023
                      in NEWS, PS Finance
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                      Tanzania, third fastest growing economy in Africa – United Nations states
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                      An intergovernmental organization, the United Nations has stated that Tanzania will be the third fastest growing economy in Africa this year.

                      According to a United Nations report, at 5.6 percent growth, the East African nation will trail Cote d’Ivoire and Rwanda. Cote d’Ivoire, the world’s largest producer of cocoa (30 percent), will register a 6.5 percent growth for this year, projections indicated.

                      Successful technology-driven transformation and recent foreign direct investments will lead to a 7.8 percent GDP growth for Rwanda in 2023.

                      Uganda and the mineral-rich DR Congo, East African Community (EAC) partner states, would register a modest growth during 2023.

                      “Tanzania’s economy is expected to increase by 5.6 percent this year,” said the report focusing on the 30 African biggest economies.

                      The World Bank has ranked Tanzania the 10th richest country in Africa by overall gross domestic product (GDP) based on the current exchange rate.

                      The country trails Cote d’Ivoire, Ghana, Kenya, Ethiopia, Morocco and Algeria in succession.

                      Nigeria is currently the continent’s largest economy followed by South Africa and Egypt.

                      However, Tanzania is not among the 10 top economies in the continent by overall GDP based on purchasing power parity (PPP).

                      Although Tanzania alongside Cote d’Ivoire and Rwanda will ride high in growth, the situation will be slightly different for the continent.

                      According to the UN, Africa’s economic growth is expected to be impacted negatively by several factors in 2023.

                      The growth is projected to fall from 4.1 percent registered last year (2022) to 3.8 percent this year (2023).

                      Exports will continue to fall while elsewhere investors remain reluctant to take a risk with their money.

                      While growth in 2023 is expected to increase for West Africa, it is expected to remain stable in East and Central Africa.

                      North and Southern Africa which have the largest economies in the continent will see a fall in growth.

                      These have been attributed to a major rise in global inflation, higher borrowing costs as well as the impact of climate change.

                      Positive growth for the African economies during the period means the biggest companies will have to perform well.

                      Despite the security challenges in its eastern part, DR Congo will also register one of the fastest growths in the continent during 2023 due to increased mining.

                      “While there are several risks to the country’s economic growth rate, the positives are set to far outweigh the negatives,” said the report

                      For Uganda whose total GDP in 2021 was $40.5 billion, the economic outlook will remain challenging.

                      However, the EAC member country will register a modest economic growth for 2023 based on the projections.

                      Kenya, despite being among the seven strongest economies in the continent, will have an uncertain economic outlook.

                      This, the report says, has forced several company CEOs looking to cut spending in a bid to counter the growing economic issues.

                      Ethiopia, whose high-flying growth was impacted by the conflict in Tigray province, will bank its hopes for recovery to a recent ceasefire.

                      The war ended in November last year after a ceasefire was agreed “which should result in a boost to the country’s economy in 2023”.

                      South Africa, considered the most advanced economy in Africa with a whopping 25 percent GDP increase in 2021, has been courting a serious crisis.

                      One of the biggest challenges currently facing South Africa is the lack of stability in electricity supply, “with rolling blackouts affecting both residents and industries”.

                      Morocco, the economic giant of the Maghreb region, was recently commended by the International Monetary Fund (IMF) for its economic success. Neither drought, war nor inflation are expected to impact its growth rate of 3 percent as estimated by the Bretton Woods institution.

                      Tags: EconomyTanzania
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                      Africa: Launch of PAPSSCARD Marks Major Leap Toward Financial Sovereignty and Intra-Continental Trade Integration

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