Major International Business Headlines Brief::: 18 January 2024

Thu Jan 18 11:19:04 CAT 2024

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Major International Business Headlines Brief:::  18 January 2024 

ü  Tanzania: Mpango Urges for Increased Agricultural Investments

ü  Senegal: The Downside of Senegal's Gold Rush

ü  Nigeria: Amnesty International Kicks As Shell Sells Nigeria's Onshore Oil Business for U.S.$2.4 Billion

ü  Ethiopia Declines to Attend Upcoming IGAD Summit Due to 'Overlapping Schedule'

ü  Nigeria: Tin-Can Customs Generates N716 Billion, Gets N1.130 Trillion Revenue Target

ü  Nigeria: Shippers' Council Flays Rail Tracks Vandalism, Sets Targets for Funtua Inland Dry Port

ü  Nigeria: Wale Tinubu Lauds Dangote Over Refinery

ü  Tanzania: Pundits Optimistic On Tanzania's Economic Growth

ü  Tanzania: Why MV Norwegian Dawn Ship Arrival Matters

ü  Tanzania: Crdb, UNDP to Empower Msmes Grab AfCFTA Opportunities

ü  Apple watch: US upholds ban on sale over patent dispute

ü  Sheryl Sandberg to step down from Meta board

ü  UK seeks urgent talks with Fujitsu on Horizon scandal

ü  Zelensky calls for seized Russian billions to rebuild Ukraine

ü  Boeing groundings continue as FAA inspections proceed

 <https://www.cloverleaf.co.zw/> Tanzania: Mpango Urges for Increased Agricultural Investments

DAVOS, SWITZERLAND: VICE-PRESIDENT, Dr Philip Mpango, has called upon Norwegian fertiliser maker, Yara International to scale up investments in agricultural infrastructure in Tanzania to the agricultural value chain.

Speaking on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos, Switzerland yesterday, Dr Mpango called on Yara International to enhance its investments in irrigation systems, storage facilities and transportation networks in Tanzania.

"As we move forward with our partnership, there are other areas where we would like to suggest for you to scale up, one is agricultural infrastructure," Dr Mpango stated during a meeting with Yara International leaders.

He stressed that relying solely on shifting cultivation would hinder the country's progress.

Dr Mpango highlighted plans for improved water management, aiming to have a borehole for every farm in some regions. The government's strategy includes expanding capacity-building initiatives for smallholder farmers to enhance farming techniques, productivity, and competitiveness.

"We are targeting to scale up capacity building for smallholder farmers to improve farming techniques, productivity, competitiveness, and support farmers who have already begun doing farmer-to-farmer learning," Dr Mpango explained, citing successful examples under the Southern Agricultural Growth Corridor of Tanzania (SAGCOT).

Another crucial aspect, according to the Vice-President, is the need for value addition and better market access to increase returns for Tanzanian farmers and minimise post-harvest losses.

Dr Mpango underscored the importance of partners supporting agricultural research and development to improve crop varieties and promote climate-resilient agriculture.

He acknowledged existing agricultural research institutions but highlighted their limitations, suggesting that collaboration with partners could make a significant difference.

On behalf of the Tanzanian government, Dr Mpango assured Yara International of continued support for their operations in the country. The overarching agenda is to position Tanzania as a regional and global food granary.

"So, we are committed to improving soil health and agricultural productivity; this is critical to improving farm performance," Dr Mpango affirmed.

Ms Fernanda Larsen, Executive Vice President for Africa, Asia, and Oceania at Yara International, responded positively, expressing commitment to Tanzania's long-term vision for food system transformation.

She highlighted Yara International's Africa 2030 strategy and their desire to partner with countries that share a similar vision.

"Our commitment is there; we have many success stories already, as well as digital success stories in which through that we have been able to offer our support. For the future, we would love to scale up and do more initiatives in the country that will ultimately help farmers, so you have my commitment," Ms Larsen asserted.

Meanwhile, Dr Mpango has invited the Global Plastic Action Partnership (GPAP) to cooperate with the country in controlling plastic waste.

The invitation was the result of the sideline meetings attended by Dr Mpango in Switzerland with the Director for GPAP, Ms Clemence Schmid.

In the conversation, the Vice-President invited the institution to cooperate with Tanzania in dealing with plastic waste, including conducting research that will enable the identification of the type of plastic waste found along the sea and in land areas to help prepare a strategy to deal with these challenges.

Dr Mpango also underscored the significance of preparing an international forum on the processing of plastic waste that will enable local waste management and international waste management companies to discuss and gain experience from the companies.

He also invited GPAP to cooperate with Tanzania in controlling plastic waste, especially in Dodoma by starting projects that will facilitate plastic waste processing and separation.

In a related development, Dr Mpango also held talks with Deputy Prime Minister and Minister for Foreign Affairs of the Federal Democratic Republic of Ethiopia Mr Demeke Mekonnen Hassen.

According to the statement issued by the Vice President's Office (VPO, the talks aimed to strengthen cooperation between the country and Ethiopia in economic and diplomatic matters.

The Davos 2024 entails four key themes including achieving security and cooperation in a fractured World, Creating Growth and jobs for a new era, and Artificial Intelligence (AI) as a driving force for the economy and society.

Another is a long-term strategy for climate, nature and energy whereby under this theme, the speakers will discuss how to develop a long-term systemic approach to achieve the objectives of a carbon-neutral and nature-positive world by 2050.

   - Daily News.

Senegal: The Downside of Senegal's Gold Rush

People from all over West Africa are working on gold mines along Senegal's border with Mali. The mining is a much-needed economic boon for the region. But mounting instability in Mali makes it vulnerable too.

In the Kedougou region of southeastern Senegal, the gold rush starts just after dusk when the heat is still bearable and the sun is clement. Near the village of Samekouta, men with tired faces park their motorbikes on the edge of a vast, rocky plot of land surrounded by trees and high grass. Their clothes are covered in rust-colored dust.

The artisanal mine comprises narrow black holes into which miners disappear with a swift hop. A permanent background noise of jackhammers and electricity generators covers their sparse conversations. The men are from Senegal, Mali, Burkina Faso and Guinea.

Most of the gold leaves Senegal

The latest report published by Senegal's statistics agency states that gold production amounted to 387.7 billion CFA francs in 2020 (€590 million), a figure likely greater if informal mining were considered. Estimates indicate that around 90% of the gold is taken abroad.

"It's mostly Malians and Guineans who buy the gold," Aliou Cisse* told DW in Faranding, a village on the shores of the Faleme River. He used to search for gold in the fields surrounding his village.

Kedougou, one of the poorest regions of Senegal, is home to over 20 nationalities. Foreigners, mainly from other countries in West Africa, come to Kedougou to try their luck in striking gold.

Gold mining is not new in the region, which borders Mali and Guinea. Farmers and villagers have practiced it on an artisanal level for decades. But since the 2010s, Senegal's gold mining sector has seen a considerable growth,

Locals searching for higher incomes moved from agriculture to small-scale mining on their lands. Word of the gold later drew foreigners in large numbers, and foreign companies set up industrial and semi-mechanized mines.

Land grabs and pollution

The gold rush has come at the expense of the locals, some of whom have seen parts of their land grabbed and their environment polluted.

Cisse told DW his village has lost much land since a Chinese company set up a semi-mechanized mine on its outskirts. Power shovels now tirelessly to excavate mounds of orange sand in the area where Faranging residents used to grow cereals and vegetables or search for gold.

"For almost a century, our village has practiced agriculture, livestock farming and gold mining on this land. We were doing everything here, and the Chinese company came to occupy the space," Cisse says.

People in Faranding say the Faleme River used to be crystal clear. But now the water is a muddy orange. The Malian shore is only a few hundred meters away. A small wooden boat carries passengers from one side to the other. On its way, it passes a metal structure reaching onto the water from the Malian side. There, men operate dredging machines to extract rocks from the riverbed -- yet another way to search for gold.

Mining companies dump thousands of liters of wastewater, sometimes containing chemicals such as mercury, into the Faleme. As a result, people living along the river can no longer drink the water or use it for their livestock or vegetable crops.

Mine disputes and poverty

Residents say they get little compensation, and industrial mining companies don't offer enough jobs for locals. In a region where unemployment is rampant, gold mining has become an indispensable source of income.

Amadou Sega Keita, vice-president of Kedougou's departmental council, says around 300,000 people currently work in the mines, mostly on artisanal or clandestine sites. "You find people with master's degrees there," Keita told DW.

In early September, two people were killed and eight injured in clashes at a protest after a dispute over recruitment at mines in Khossanto. The incident occurred near the Sabodala Gold Project, owned by the Canadian company Teranga Gold Corporation, which ranks as the largest industrial mine site in Kedougou.

There have been other disputes, too. Even though the region is resource-rich, it features poverty and lacks basic infrastructure. "Only a few kilometers outside the town of Saraya, you won't see electricity," says Mahamadi Danfakha, the director of the community radio station in Saraya. "People have the impression that the state has closed its eyes on their demands."

A risk of radicalization?

Amadou Sega Keita says the feeling of abandonment that people in the region have could make them prone to radicalization. "The economic and social deficit could be a factor for jihadist groups to implement themselves," he warns. "Currently there are no banks, the money goes from hand to hand." This, Keita says, could lead to infiltration by religious extremists who could use gold to fund their activities.

Senegal and Mali share a border over some 250 kilometers (155 miles). The frontier is porous and difficult to police. In Mali, jihadi groups are currently the army, which is backed by Russia's Wagner Group.

"The pressures around Mali's Kayes zone, with a potential advance of groups in this town, would accentuate the threat in Senegal," says Paulin Maurice Toupane, an analyst at the Institute for Security Studies (ISS).

Senegal has so far been spared terrorist attacks and is seen as one of the few stable countries in West Africa. But its gold rush and other trafficking networks -- prostitution, arms or chemical products -- make Kedougou vulnerable.

Existing trafficking networks in Senegal could be why extremist groups have not orchestrated attacks in the country, says Bakary Sambe, the Regional Director of Timbuktu Institute in Dakar. "They [extremist groups] have spaces of tactical withdrawal, and Senegal represents a major interest for them. There is the flow of capital, the movement of arms, the access to the sea," Sambe says.

Anti-terror interventions

However, Amadou Sega Keita, the vice president of Kedougou's departmental council, sees reasons for optimism. Senegalese culture and religious teachings, dominated mainly by very influential moderate Sufi brotherhoods, are incompatible with extremism, he says. "The terrorists will struggle to get the population on their side."

The Senegalese government, alarmed at the situation in surrounding countries, has also taken several steps to prevent terrorism. In Kedougou, it increased the number of armed forces and launched infrastructure projects.

Keita believes that this approach is not sufficient. "We need a large military base at the border to show the enemy that we are constantly present," the Kedougou official says.

Senegal's Ministry of Defence and National Gendarmerie declined to answer DW's questions and multiple requests for comment. In areas along the Faleme River, police and armed forces bar foreign journalists, and only a few residents are willing to give interviews.

*Aliou Cisse is a modification of the actual name of DW's interview partner in Faranding, Kedougou, to protect him from reprisal.

-Eyssen

Nigeria: Amnesty International Kicks As Shell Sells Nigeria's Onshore Oil Business for U.S.$2.4 Billion

Shell Plc has agreed to sell its Nigerian onshore oil business to a consortium of local companies for more than $1.3 billion.

If approved by the government, the transaction would fulfil Shell's long-term goal of extracting itself from a challenging operating environment in the Niger Delta region, while retaining a presence elsewhere in the country.

Beyond the initial price tag, Shell said it will receive additional cash payments of as much as $1.1 billion on completion.

Integrated gas and upstream director, Zoe Yujnovich said, "This agreement marks an important milestone for Shell in Nigeria," adding that the deal is "simplifying our portfolio and focusing future disciplined investment in Nigeria on our deep-water and integrated gas positions."

The buyer of the asset, known as Renaissance, is composed of exploration and production companies ND Western, Aradel Energy, First E&P, Waltersmith and Petrolin, all of which are based in Nigeria, according to the statement.

The announcement comes after a laboured sales process that had to be halted in 2022 after a court ruling ordered Shell Petroleum Development Company of Nigeria Ltd. to pause its divestment plans pending the outcome of a court case related to allegations of pollution.

Earlier this month, Nigeria's Supreme Court upheld Shell's appeal against this ruling.

Following the sale, Shell will continue operating in the country through its deep-water oil business, Shell Nigeria Exploration and Production Company Ltd.

Another unit that provides gas to domestic industrial and commercial customers, Shell Nigeria Gas Ltd., will continue operating as will solar firm Daystar Power Group. Shell will retain its 25.6% stake in Nigeria LNG, which produces and exports liquefied natural gas.

Shell Must Not Be Allowed To Wash Its Hands Of Damages Caused By Oil Spills - AI

The Head of Business and Human Rights of Amnesty International, AI, Mark Dummett, has called on the Federal Government of Nigeria, not to allow multinational oil and gas company, Shell, to wash its hands of the problems caused by decades of oil spills in the Niger Delta.

Dummett, made the demand in a terse statement released on the X handle of Amnesty International

Dummett said: "For decades oil spills have damaged the health and livelihoods of many inhabitants of the Niger Delta.

"Shell has earned billions of dollars from this business and it must make sure that its withdrawal does not have negative human rights and environmental consequences. We are calling for effective remedy for people whose rights have long been abused.

"Shell should not be allowed to wash its hands of the problems and leave, and we urge the Nigerian government to require Shell to provide a full assessment of existing pollution and the current state of its infrastructure. This information needs to be shared with affected communities.

"Nigeria's government must ensure local inhabitants' concerns about the sale are fully appraised and addressed, and uphold and protect the human rights of its citizens, including their rights to an adequate standard of living, clean water and health."

   - Daily Trust.

Ethiopia Declines to Attend Upcoming IGAD Summit Due to 'Overlapping Schedule'

Addis Ababa — The Ethiopian Ministry of Foreign Affairs has revealed difficulty to attend the IGAD extraordinary summit proposed for 18 January 2024, owing to overlapping schedule.

A letter issued by the ministry and addressed to the Ministry of Foreign Affairs and International Cooperation of Djibouti and the IGAD Secretariat, said "commitment to a prior engagement that overlaps with the scheduled meeting and the short notice extended to convene the extraordinary summit" made it difficult for Ethiopia to attend the meeting due to take place in Kampla, Uganda.

Nonetheless, "Ethiopia stands ready to discuss alternative dates in line with the rules of procedure governing meetings of the IGAD" the letter said. A source close to the Djibouti's Ministry of Foreign Affairs and International Cooperation confirmed to Addis Standard the authenticity of the widely shared letter.

Attempts to get further comment from the Ethiopian Ministry of Foreign Affairs were to no avail.

The meeting was called for by Ismail Omar Guelleh, president of Djibouti in his capacity as current chair of the IGAD to discuss ongoing tension between Ethiopia and Somalia following the signing of Ethiopia-Somaliland MoU, as well as the war in Sudan.

The Sudanese government has earlier announced its withdrawal from the upcoming summit emphasizing the necessity for a face-to-face meeting between Sudan's top military leaders, General Abdel Fattah al-Burhan and Mohamed Hamdan Dagalo (Hemetti), to address pressing issues before broader discussions can occur. It later severed ties with the regional body.

There has been no immediate reaction both from Djibouti and the IGAD secretariat as to whether the meeting will take place as planned in the face of latest announcement from Sudan and Ethiopia.

   - Addis Standard.

Nigeria: Tin-Can Customs Generates N716 Billion, Gets N1.130 Trillion Revenue Target

The Tin-Can Island command of the Nigeria Customs Service (NCS), on Tuesday, announced that it generated a whooping N716 billion from goods imported into the country in 2023.

Giving details of activities in 2023 and target for 2024, in Lagos, the Command's Customs Area Controller, Compt. Dera Nnadi, said the command has a revenue target of N1.130 trillion for 2024.

According to him, to meet up with its target, To meet up with the target, the command must generate over N94 billion every week

Comptroller Nnadi said that the target was achievable even as he stated that the command has tagged the year 2024 the year of stakeholders.

He said, "In all, the command is expected to generate a total of N1.130 trillion that is, N94.230m daily. The command is expected to generate N21.666 billion weekly."

Analysing the performance of the previous year, he maintained that the command deployed capacity building for officers and stakeholders as one of the tools to achieve its mandate.

He added that deployment of ICT helped the command to optimise its efficiency in the outline year even as he maintained that more of the system would be applied for better efficiency in the new year.

He quipped that 24 hours and weekend port operations were applied in the previous year.

Speaking further, Compt. Nnadi applauded the officers of the command as well as stakeholders for their cooperation in generating the huge sum in 2023.

"We have decided that 2024 is going to be a year of stakeholders in Tincan Island in 2024. But we will not hesitate to deal decisively with those who are not willing to change.

He called on Nigerians to encourage export of goods which according to him, the survival of the economy of the nation rests on.

He disclosed further that aside revenue collection, the command is poised to prioritise stakeholders engagement and regular sensitization exercise to promote trade facilitation.

   - Leadership.

Nigeria: Shippers' Council Flays Rail Tracks Vandalism, Sets Targets for Funtua Inland Dry Port

The Nigerian Shippers' Council (NSC) says it is worried over acts of vandalism and theft of railway tracks connecting the nation's inland ports.

The executive secretary of the council, Barr. Pius Akutah, while inspecting the Funtua Inland Dry Port, Katsina, ahead of its inauguration, said incessant cases of stealing national assets along Lagos-Kaduna, Kaduna-Zaria, Zaria-Funtua and Kano have frustrated plans to commence train transportation of cargo from the nation's port to the hinterland.

Although the Funtua Inland Dry Port has commenced informal commercial conveyance of freight through heavy trucks on the road, the use of a train system is considered pivotal to cost-effectiveness, less risk and overall management of dry ports.

Akutah said that the federal government is assiduously harnessing energy to overcome the challenges and ensure that the railway system is connected to the inland dry ports, calling for an end to needless obstruction of government investment.

The executive secretary appealed to the Katsina State government and people around the railway line to take ownership of the critical national assets and protect the entire facility.

While applauding the efforts of Funtua Inland Dry Port concessionaires on the project, the NSC boss called on the management to intensify efforts at the completion of the facility to meet the target set for commissioning.

Akutah, alongside the management team of the council and Professor Busayo Akinlade, Technical Adviser to the Minister of Marine and Blue Economy, Adegboyega Oyetola, were conducted round the facility, however, listed some lapses that should be urgently fixed.

"The development of inland dry ports across the country was an initiative of the Nigerian Shippers' Council to bring import and export shipping into the hinterland thereby decongesting the seaports and advancing economic activities in the dry port.

"From what we have seen, the management of the dry port has done well because we know the project is capital intensive but we have also observed areas that needed to be improved on. For instance, you need to improve on the general clean up, furnishing of the offices, planting of flowers and recruitment of staff," Akutah stated.

The Managing Director, Funtua Inland Dry Port, Ahmad Ibrahim Dodo, said the management has invested huge resources to officially kick-start operations at the facility which is said to be 95 per cent ready for commissioning.

Dodo gave assurance on fixing all the recommendations and getting the port ready for commissioning before the end of January.

The Funtua Inland Dry Port has already been accredited as a port of origin and destination, and scheduled for official flag-off by President Bola Tinubu by the first quarter of 2024.

   - Daily Trust.

Nigeria: Wale Tinubu Lauds Dangote Over Refinery

The group chief executive, Oando Group, Adewale Tinubu has congratulated Aliko Dangote, President of Dangote Group over the commencement of production at Dangote Refinery.

According to release made available from the office of the oil and gas company, he congratulated Alhaji Dangote over the milestone.

"I congratulate Aliko Dangote and the dangote group on the official commencement of production at Dangote Refinery. There is nothing more inspiring than seeing fellow Nigerians like @alikodangote proffering audacious solutions to some of the country's challenges and being unafraid to be the change we want to see in the Nigeria of tomorrow.

"This momentous achievement not only signifies a major milestone for Nigeria but also holds immense promise for the entire continent as well as raises the bar in global design standards.

This extraordinary accomplishment and the refinery's impact shall continue to resonate positively for years to come," Tinubu said.

   - Leadership.

Tanzania: Pundits Optimistic On Tanzania's Economic Growth

DAR ES SALAAM: ECONOMISTS and development experts are optimistic about the growth of Tanzania's economy amid escalating global geopolitical tensions.

Speaking to the 'Daily News' in separate interviews yesterday, the pundits emphasised the importance of self-reliance and high production to withstand external shocks.

They stated that strengthening self-reliance in key strategic areas such as energy and agricultural production, including wheat, will reduce the impact of geopolitical tensions, such as the Russia-Ukraine war, on the economy.

According to them, this can be achieved by bolstering the supply chain through the effective utilisation of domestic resources for both short-term and long-term benefits and resilience.

They made the remarks in response to the recently released World Economic Situation and Prospects 2024 report.

The report forecasts that economic growth in Africa will remain modest, increasing from an estimated 3.3 per cent in 2023 to 3.5 per cent in 2024, due to the region being affected by the global economic slowdown and tighter monetary and fiscal conditions.

According to the report, the least developed countries (LDCs), are projected to grow by 5.0 per cent in 2024, up from 4.4 per cent in 2023, but still below the 7.0 per cent growth target set in the Sustainable Development Goals (SDGs).

Economist Dr Isaac Safari, from the Saint Augustine University of Tanzania (SAUT), expressed confidence in Tanzania's economic growth trend.

He highlighted key indicators such as the impressive growth of the National Income (NI) and the increasing domestic and foreign investments.

However, he emphasised the need for self-reliance to withstand global geopolitical shocks.

"Our economic growth is still good in every dimension, with the impressive growth of National Income (NI), notable attraction of investments, and provision of education and social services," stated Dr Safari.

"However, the area of concern is how we can strengthen self-reliance to reduce the impact of geopolitical shocks. Today, most shops have imported goods, making it easy for global supply chain disruptions to affect our economy. We can achieve resilience through self-reliance," he added.

He suggested that the country can achieve self-reliance by effectively utilising abundant resources, such as land, through extensive large-scale farming in staple crops like wheat, while also focusing on value addition.

He also recommended utilising available rainfall for food production by matching seed planting with the volume of rainfall in each region across the country.

To address fuel challenges resulting from geopolitical tensions, including the Middle East crisis, Dr Safari proposed that Tanzania transition to alternative energy sources, such as gas, to power vehicles and industries.

He commended the government for effectively supervising the Julius Nyerere Hydro Power Plant (JNHPP), which is currently at over 94 per cent completion.

Once operational, the plant will generate a total of 2,115 Megawatts, providing additional electricity to the national grid and aiding the transition to electric vehicles.

Dr Safari advised the government to prioritise one major area for attracting investment, which would have multiple effects on other sectors. He also emphasised the importance of research in supporting intensive investment in all sectors.

However, he noted that concerted efforts from the government and citizens are critical in the short term for all people to participate in the transformation to self-reliance, which should be characterised by patriotism, innovation and the utilisation of high technologies in production.

Economist and Investment Banker Dr Hildebrand Shayo emphasised the need for Tanzania to prosper and remain resilient amidst escalating geopolitical tensions.

He suggested modifying the country's supply chains, business models, strategies, and sustainability plans to manage ongoing projects and agendas.

Dr Shayo said; "Increased geopolitical tensions in the Middle East, sparked by the conflict between Israel and Hamas, will not only strain the already fragile recovery from the tension between Russia and Ukraine but also increase the cost of logistical transit, which could have catastrophic effects on the world economy."

He urged maximising the utilisation of water resources through the blue economy, highlighting the increasing value of oceans and lakes for the economy and national defence.

Dr Shayo pointed out that marine channels handle 90 per cent of the world's goods commerce, but many of the busiest marine transit routes are vulnerable to geopolitical disruption.

He called for heightened operation of the Dar es Salaam Port to take advantage of this opportunity, as it serves over five land-linked nations, including the Democratic Republic of Congo (DRC).

Dr Shayo commended the government for implementing necessary macro-fiscal reforms to address high inflation and low fiscal revenues, which have hindered economic growth.

He stated that these reforms will help Tanzania break free from the cycle of macroeconomic instability, low investment, slow economic development, growing poverty, and fragility, as long as they are maintained.

Business expert Mr Merdad Wilfred, based in Mwanza, suggested that Tanzania can use its iconic political stability to boost agro-production, especially in the food and tourism sectors, which thrive in peaceful environments.

He emphasised the country's potential to serve the East African Community (EAC) and Southern Development Community (SADC) market and called for intensified investment in high-demand areas like food to achieve a favourable Balance of Trade (BOT).

Mr Wilfred proposed reducing reliance on imported farming inputs to boost agricultural production and productivity across the country.

The World Economic Situation and Prospects 2024 report is produced by the United Nations Department of Economic and Social Affairs (UN DESA), in partnership with the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions, including the Economic Commission for Africa (ECA), the Economic Commission for Europe (UNECE), and the Economic and Social Commission for Western Asia (ESCWA).

In 2023, Tanzania's Gross Domestic Product (GDP) grew by 5.2 per cent, and it is projected to reach 5.8 per cent by 2024, according to the Minister for Finance, Dr Mwigulu Nchemba.

He also stated that the inflation rate for this year will remain in the single digits, averaging between three to seven per cent.

   - Daily News.

Tanzania: Why MV Norwegian Dawn Ship Arrival Matters

DAR ES SALAAM: THE Tanzania Ports Authority (TPA) has described the arrival of the largest cruise ship, MV Norwegian Dawn, as strategic and confidence-inspiring for other ships of similar size to dock at the Dar es Salaam Port.

The arrival of the 294-meter-long ship, operated by the Norwegian Cruise Line (NCL), set a new record for the Dar es Salaam port.

With over 2,210 tourists aboard, the cruise vessel docked at around 6 am yesterday and is scheduled to depart later in the evening.

At a colourful event to receive the vessel at the port, Dar es Salaam Port Director Mrisho Selemani, speaking on behalf of TPA's Director General Plasduce Mbossa, said the ship has a capacity to carry 4,700 tourists but arrived with 2,210 tourists and 1,000 crew members.

"There are things to be proud of here, one is that the Royal Tour campaign continues to bear fruit. These tourists are heading to Selous National Park and other tourist attractions in the country. As the port, we are happy that such a big-sized ship has arrived at the berth safely due to improved infrastructure at the port," Mr Mrisho said.

He said for the port of Dar es Salaam, this was the largest ship ever to dock due to improvements in port infrastructure, including deepening the berths and widening the entrance channel.

"Our expectation is to serve ships with a length of up to 305 meters," he said, thanking the government and TPA for the port expansion.

TPA's Director of Marine and Port Operations, Captain Abdula Mwingamno, said, "Today we have witnessed the largest passenger ship to dock at the country's ports."

"The arrival of this ship is strategic for luring other ships of this size because it gives confidence that they will dock here at the Dar es Salaam Port safely," Captain Mwingamno stated.

Captain Mwingamno and his team from TPA were the ones who took the ship from the entrance channel to the berth.

"When I took over from the ship's captain, he was at first doubtful about the marine fenders at the port, but later on, he acknowledged that of all the ports he visited in Africa, Tanzania's Dar port is the best."

Marine fenders are used at ports and docks on quay walls and other berthing structures. They absorb the kinetic energy of a berthing vessel and thus prevent damage to the vessel or the berthing structure.

He said he encountered no challenges when steering the vessel to the berth. Since it is the longest ship, it occupied the space of two berths at the port (berths no. 2 and 3).

Captain Mwingamno, who is also a master mariner, added, "Three weeks ago, my team and I were in Germany where we did a simulation on sailing the ship through the improved entrance channel of the Dar es Salaam Port. We managed to steer the ship of up to 350 meters long to the port."

The Managing Director of the Tanzania Tourist Board (TTB), Damasi Mfugale noted that the arrival of the largest ship with 2,200 tourists was a big boost for the tourism sector.

"We expect that in the coming one to two years we will receive more cruise ships. Marine tourism will further grow," Mr Mfugali stated.

Speaking to the 'Daily News', some tourists from the ship expressed their feelings about arriving in Tanzania to see tourist attractions.

Mr Ken Orner, a tourist from the US, said it was his first-time visiting Tanzania, adding, "It's a wonderful country."

He said it was good for the port to accommodate such a big ship, saying having deep water for the ship to sail in is very good, as well as safety.

A total of 16 international ships were scheduled to call at the Dar es Salaam Port between Friday and Sunday last week, in addition to the 38 vessels that recently docked at the port.

A vehicle carrier, Dream Diamond, arrived on Saturday and departed on Sunday after unloading 2,500 cars, paving the way for another vehicle carrier, Sunshine Ace, which docked at the Ro-Ro berth yesterday afternoon with 1,500 vehicles on board.

   - Daily News.

Tanzania: Crdb, UNDP to Empower Msmes Grab AfCFTA Opportunities

DAR ES SALAAM CRDB Bank Foundation and the United Nations Development Programmme (UNDP) have signed a five-year Memorandum of Understanding to empower Micro, Small,and Medium-sized Enterprises (MSMEs) to unleash the potentials of the African Continental Free Trade Area (AfCFTA).

CRDB Bank Foundation Managing Director Ms Tully Esther Mwambapa said in Dar es Salaam on Tuesday that the partnership will focus on key areas namely youth and women empowerment, sustainable finance adoption, startup growth and innovation ecosystem support, joint resource mobilisation for impactful programmes and specialised expertise exchange.

"The inaugural initiative under this agreement focuses on empowering women-led MSMEs to leverage the opportunities presented by the AfCFTA," she said.

She said this strategic partnership signifies a united front to address critical challenges and contribute to the sustainable development goals in Tanzania.

The partnership, according to Ms Mwambapa opens the doors to transformative initiatives aimed at fostering gender equality, youth empowerment, inclusive economic growth and climate change resilience.

"Our country's economic backbone lies in MSMEs. This sector employs over 5 million people, including underprivileged youth and women.

Recognising this, the CRDB Bank Foundation developed the Imbeju programme to empower youth and women through financial training and seed capital.

Partnering with UNDP signifies a crucial step towards transforming entrepreneurs' lives in the New Year,"

With over 3 million SMEs contributing 27 per cent to Tanzania's GDP, including over half that is women-owned, the MOU paves way for a comprehensive collaboration.

Ms Tully highlighted the Imbeju programme's accomplishments, having trained over 100,000 individuals and disbursed 5bn/- in seed capital since its inception last year.

The partnership with UNDP aligns with the Foundation's commitment to the Sustainable Development Goals, with a focus on ending poverty (SDG 1), gender equality (SDG 5), and ensuring full and productive employment for all (SDG 8).

UNDP Resident Representative, Mr Shigeki Komatsubara emphasised the core values and commitments that UNDP represents, stating, "UNDP is dedicated to advancing sustainable development through wealth creation, building resilient communities and promoting good governance.

These principles form the foundation of our actions and today's MoU reflects our collective commitment to translating these ideals into tangible outcomes,"

With an inspiring perspective, he underscored the significance of collaboration in pursuing common objectives, stating, "As we embark on this collaborative journey, let us not underestimate the power we hold to create a legacy of positive change.

Partnerships that extend beyond organisational boundaries and embody collective responsibility play a vital role in building a future that is equitable, sustainable, and prosperous for all,"

The CRDB Bank Foundation and UNDP partnership represents a significant stride towards unlocking the full potential of Tanzanian MSMEs, investing in women and youth to pave the way for sustainable economic growth and leveraging opportunities in the AfCFTA.

   - Daily News.

Apple watch: US upholds ban on sale over patent dispute

Apple has once again been banned from selling two smartwatch models in the US, while a legal battle continues over a patent dispute.

The tech giant was earlier allowed to sell its Series 9 and Ultra 2 watches while proceedings were ongoing - but a US appeals court has since reversed that decision.

Imports of watches are also affected.

On Thursday, Apple said it will release watches without the disputed blood oxygen feature to keep them on shelves.

It is the latest turn in a dispute between the firm and medical technology company Masimo.

Masimo and spin-off Cercacor have accused the iPhone maker of poaching key staff and taking other steps to steal technology it developed to measure oxygen levels in the blood.

In October, the US International Trade Commission said it agreed that Apple had violated some patent rights and issued an order barring certain imports and sales. This had been due to go into effect in late December but was paused while the appeal was underway.

Most versions of Apple's watches, including the Series 9 and Ultra 2, have included the feature since 2020. The SE model does not.

The affected watches cannot be imported from 17:00 ET (22:00 GMT) on Thursday.

Masimo's founder and chief executive Joe Kiani said the ruling showed that "even the largest and most powerful companies must respect the intellectual rights of American inventors and must deal with the consequences when they are caught infringing others' patents".

Apple said that it "strongly disagreed" with the US International Trade Commission's view that it had violated some patent rights.

"Pending the appeal, Apple is taking steps to comply with the ruling while ensuring customers have access to Apple Watch with limited disruption," the company said in a statement.

Apple now has the lion's share of the global smartphone market, as it knocked Samsung off the top spot for the first time in 12 years.

It accounted for more than a fifth of phones shipped last year, according to data from the International Data Corporation released this week.-bbc

Sheryl Sandberg to step down from Meta board

The former chief operating officer of Meta, Sheryl Sandberg, is leaving the company's board of directors.

Ms Sandberg, one of the most high-profile women in the tech industry, said that "this feels like the right time to step away" as Meta is "well-positioned for the future".

She will serve as an informal advisor to the company going forward.

Meta CEO Mark Zuckerberg thanked her for the "extraordinary contributions" to the company.

Ms Sandberg, 54, joined the firm when it was a small start-up named Facebook. A veteran of Google, she helped turn its advertising business into a profit powerhouse, as the company grew to include Instagram, WhatsApp and Messenger.

Her books, including Lean In: Women, Work, and the Will to Lead - which she described as a "sort of feminist manifesto" - made her a global celebrity.

The company also faced massive criticism under her watch, including misinformation during the 2016 election, the Cambridge Analytica privacy scandal in 2018, and the Capitol riot in 2021.

She posted about her departure in a Facebook post on Wednesday, saying she has a "heart filled with gratitude and a mind filled with memories".

She said that serving as Facebook and Meta's COO for over 14 years and a board member for 12 years was "the opportunity of a lifetime".

Shortly after Ms Sandberg's announcement, Mr Zuckerberg responded with a short reply.

"Thank you Sheryl for the extraordinary contributions you have made to our company and community over the years," he commented on her post. "Your dedication and guidance have been instrumental in driving our success and I am grateful for your unwavering commitment to me and Meta over the years."

Meta is facing new challenges as countries tighten social media regulations and iPhone maker Apple changes its privacy rules, hitting the social media firm's targeted ad business.

Growth in the number of Facebook users in key markets, such as the US, has been stalled, and it has lost younger users to rivals such as TikTok.-bbc

UK seeks urgent talks with Fujitsu on Horizon scandal

Business secretary Kemi Badenoch has requested urgent talks with Fujitsu on compensation for sub-postmasters caught up in the Post Office Horizon scandal.

An inquiry is ongoing into how hundreds of sub-postmasters were wrongly convicted due to faulty software.

Once the inquiry has "established all the facts", then the government will act, a spokesperson said.

It comes after Fujitsu Europe's boss said the firm has a "moral obligation" to provide compensation.

Ms Badenoch made the request in a letter to the global chief executive of Fujitsu, Takahito Tokita.

A spokesman for Prime Minister Rishi Sunak said that the enquiry would establish responsibility for the scandal.

"The inquiry does need to establish the facts, but we're keen to be as prepared as possible to act at the appropriate point," the spokesman said.

"It's important that we don't do anything that would jeopardise our approach and we will set up these discussions so that we can move as quickly as possible, but it's right that we establish culpability fully," he added.

Over a 15-year period, more than 700 branch managers were convicted of false accounting, theft and fraud, based on faulty software which made it appear as though money was missing from their branches.

The Post Office also forced at least 4,000 branch managers to pay back cash based on the flawed data.

The inquiry into the scandal began in 2021, and is chaired by retired judge Sir Wyn Williams.

It heard from Fujitsu staff on Wednesday who were concerned they would be "hauled over the coals" after realising the Post Office was using "manipulated" audit data to investigate sub-postmasters.

John Simpkins, a team leader in Fujitsu's software support centre (SSC), accepted that the team he worked in "downed tools" after learning the Post Office was using data that had "relevant" material missing in its criminal investigations.

The filtered data did not include information about what a Post Office counter can sell, how much it would sell it at, and the steps taken during transactions.

He told the inquiry: "The SSC decided we're not happy doing this filtration if it's going to be used in court cases and we stopped."

Counsel to the inquiry Jason Beer KC then asked: "Why weren't you happy?"

Mr Simpkins replied that the team "thought that if we were making the filter choices, they may want someone to come up and explain exactly why in a court case."

The Metropolitan Police has launched a criminal probe into the scandal, with its Commissioner Sir Mark Rowley telling LBC on Wednesday that the investigation will run until at least 2026.

"We're now working with police forces across the country to pull together what will have to be a national investigation," he said, adding that "there are tens of millions of documents to be worked through".-bbc

Zelensky calls for seized Russian billions to rebuild Ukraine

President Zelensky has called for some of the Russian billions seized by world banks to be sent to rebuild Ukraine.

The G7 group is considering taking only the rise in value and interest due since the assets were frozen in 2020.

But the Ukrainian president told the BBC all of the money should be used. "If the world has $300bn - why not use it?", he said.

The BBC understands central bankers in Europe have concerns over undermining banks' safe haven status.

Despite some enthusiasm from the US and UK governments, Europe's central bankers have been far more sceptical about setting a difficult legal precedent that could undermine global financial stability. It could mean that other countries think twice about placing their safe haven assets in the West.

UK explores using frozen Russian assets to fund Ukraine defence

Use frozen Russian money to rebuild Ukraine, says Bank boss

Belgium in particular happens to be home to a large portion of the frozen assets, due to its role in the clearing system for European reserves. It has already applied a charge to some funds raising €2bn for Ukraine. Proponents of the wider plan think tens of billions of dollars could be raised given some $360bn in frozen assets, and now high interest rates.

President Zelensky told the BBC on the margins of the World Economic Forum in Davos, Switzerland, that Western taxpayers should not foot the bill for the war in Ukraine.

He said: "We have $300bn [of] frozen Russian assets. They destroyed Ukraine…if we have $300bn of Russia assets we have to use them directly to rebuild what has been destroyed by Russian missiles… why does your society have to think how to help... If the world has $300bn, why not use it?"

President Zelensky met with Wall Street financiers at Davos including Jamie Dimon of JP Morgan and Steven Schwarzman of Blackstone.

Bill Winters, the boss of British bank Standard Chartered, said the global financial community's response to seizing the profits of Russian frozen assets would be "mixed" amid fears of "weaponizing" central banks and currencies.

"We may say it is worth it to do the right thing which most of us would agree at a human level it's the right thing. But I think central bankers have a right to be concerned," he said.

"In the long run the US dollar plays such a central role that we do have to be careful about how we effectively weaponize it. It's already been quite weaponised through the application of sanctions. This would be a further extension of that," Winters told the BBC.

The Ukrainian president told the World Economic Forum that some in the West were in denial that Putin was only interested in their territory, and that his country was defending Europe, and needed more help.-bbc

Boeing groundings continue as FAA inspections proceed

US officials said they have completed inspections of a first batch of Boeing planes, which were grounded for safety review after a cabin panel broke off one of the firm's jets mid-flight.

The Federal Aviation Administration (FAA) ordered 171 Boeing planes out of service after the 5 Jan incident.

It said it had finished 40 inspections but offered no further update on when the jets might be cleared to fly.

Airlines had said preliminary reviews revealed issues such as loose bolts.

Alaska Airlines and United, the two airlines with most of the affected planes, have had to cancel hundreds of flights since the planes were ordered out of service.

The FAA said on Wednesday that officials will review the findings to determine if the maintenance and inspection conducted on the first batch of planes is adequate.

Once that process has been approved, it will be required on every grounded plane before being cleared for flight, the agency said.

The update comes as pressure grows on Boeing and the FAA to answer for the emergency on the Alaska Airlines flight from Portland, Oregon to California, in which a cabin panel blew out shortly after take-off.

Passengers on the plane, which returned to the airport without serious injury, have filed two lawsuits. saying the incident led to intense fear and trauma and alleging that not all of the air masks on the flight were functioning.

"Mom ... We're in masks. I love you," one passenger texted at the time, according to one of the complaints, which accuses Boeing and Alaska Airlines of negligence.

The FAA said last week that it was expanding its review of Boeing's manufacturing processes and production lines, including for its troubled supplier Spirit Aerosystems.

It also said it would examine potential changes to the current controversial quality review system, in which the regulator delegates many of its responsibilities to Boeing staff, should be changed.

Senator Maria Cantwell, who represents Washington, the historic base of Boeing's operations, last week sought documents from the agency, saying it appeared the FAA's oversight processes had "not been effective in ensuring that Boeing produces airplanes that are in condition for safe operation".

Boeing has been trying to repair its reputation since two of its 737 Max planes crashed in 2018 and 2019, killing 346 people.

Poor design of a piece of its flight control system was found to play a role, and authorities grounded its popular 737 Max planes globally for more than 18 months. Lax oversight by the FAA was also faulted.

Boeing has reported a string of smaller manufacturing issues as production resumed.

In a further embarrassment, the Boeing plane intended to transport US Secretary of State Antony Blinken from Davos to Washington was barred from take-off on Wednesday, after suffering what was described to reporters as "a critical failure related to an oxygen leak".

Boeing said this week that an outside party would be brought in to assess its production practices, with Boeing commercial airplanes president and CEO Stan Deal saying the company was "not where we need to be".-bbc

Invest Wisely!

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