By Angela Mndolwa and Shah Jahan Khandokar, Norton Rose Fulbright
Huge natural gas discoveries in East Africa, attracting global interest and investment in recent years, have given rise to complex and politically sensitive boundary disputes in the region, most recently within the United Republic of Tanzania between the mainland and semi-autonomous Zanzibar.
Despite a strong desire to reap the rewards from oil and gas within its boundaries, investors in the region are hoping that the two governments of Tanzania will realise that it is better to share revenue than risk deterring investment. Read more
Tanzania has become the third east African country in as many months to discover the size of its economy is bigger than previously thought, benefiting from a surge of investment from gas explorers.
Tanzania joins neighbours Kenya and Uganda in their hefty upward revisions. Statisticians say the new estimate for the size of the economy in the country of 51m people is $41bn, 32 per cent more than previously estimated and the highest revision leading the east African pack, followed by Kenya (which rose 25 per cent at the end of September) and Uganda (13 per cent, also this month). Read more
Source: Thomson Reuters. Click to enlarge
Pity Tanzania’s stockbrokers. For the first time in years, it looked as if the country’s famously closed and illiquid markets might be about to open up to foreign investment. But, in classic Tanzanian style, “procedure” has called a halt. Read more
In most countries paying taxes is nothing special. For those that fail to dish up the dues – and get caught – punishments await. But elsewhere, compliance is so low that carrots are used as well as sticks. Wednesday was Taxpayers’ Day in Tanzania. Read more