Dar es Salaam. Mineral products from the Democratic Republic of Congo (DRC) will now be certified at a special centre in Tanzania as the two countries seek to raise the volume of goods passing through Dar es Salaam Port and curb smuggling.
Known as the commercial station office overseeing mineral products under the Centre of Expertise Evaluation and Certification (CEEC), the station will certify all minerals from the DRC passing through the port.
By doing so, it aims to boost investor confidence, ultimately benefiting both countries.
According to the Tanzania Ports Authority (TPA), Dar es Salaam Port currently handles 68 percent of the DRC’s cargo that is transported through various sea gateways.
Speaking after the launch of the station yesterday, the Commercial Attaché at the DRC Embassy in Tanzania, Mr Kasongo Yampanya, highlighted the long-standing challenge faced by the central African country in transporting mineral products, primarily due to smuggling and other illegal activities.
“We express our gratitude to the governments of both countries for coming together and agreeing to establish this facility. It will ensure that all mineral products reach their destinations without hindrance, our businesspeople have been suffering significant losses sometimes, these documents may expire during transit if a vehicle breaks down, rendering the cargo unidentifiable and vulnerable to being classified as contraband,” he said.
Mr Yampanya added that due to inadequate mineral inspection, some businessmen resort to illegal channels for transporting minerals and fabricate documents consequently, investors suffer losses as their cargoes are compromised by fake certifications.
He said the office would expedite the permit process, even for expired documents, and address challenges encountered en route to the destinations adding the overarching goal is to empower DRC businessmen in the mineral trade, shielding them from harassment and ultimately boosting the revenue of both nations.
There have been cases of some businesspeople engaging in the illicit transportation of minerals, leading to arrests and theft. Moreover, the absence of a mining office in the country poses a challenge as unscrupulous businessmen forge documents.
TPA’s director of marketing and communication George Fasha highlighted the significance of the DRC as one of the six crucial markets due to the increasing volume of cargo passing through the Dar es Salaam port since 2018, emphasizing ongoing faith in utilizing the port facilities.
“The establishment of an office in our country sends a clear message that they are committed to doing business with us, therefore, I urge businessmen to utilise these opportunities to attract more investors,” he said.
Dr Fasha deed that in the first quarter of the financial year 2023/2024, both export and import volumes reached 2.5 million metric tonnes, compared to 1.9 million metric tonnes in the preceding years, marking a 15 percent increase passing via Dar es Salaam Port.
“Dar es Salaam Port commands a significant market share, boasting 68 percent compared to its competitors calling for cargo from the DRC, adding the event is anticipated to fortify the business ties between the two nations,” he said.
TPA plans to inaugurate another office in the East of the country, where mineral resources are abundant, aiming to facilitate trade between Tanzania and the DRC, presently, the authority has representative offices in Lubumbashi.
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Britam half-year net profit hits Sh2bn on higher investment income
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“We are confident in the growth and performance trend that Britam has achieved, supported by its subsidiaries in Kenya and the region. Our business is expanding its revenue base while effectively managing costs,” Britam Chief Executive Officer Tom Gitogo said.
“Our customer-centric approach is fueling growth in our customer base and product uptake, particularly through micro-insurance, partnerships, and digital channels.”
The investment income growth was fueled by interest and dividend income rising 34 percent to Sh9.1 billion, which the insurer attributed to growth in revenue and the gains from the realignment of the group’s investment portfolio.
Britam also booked a Sh3.79 billion gain on financial assets at a fair value, compared with a Sh1.8 billion loss posted in a similar period last year.
The increased investment income helped offset the 12.7 percent decline in net insurance service result to Sh2.13 billion in the wake of claims paid out rising at a faster pace than that of premiums received.
Britam said insurance revenue, which is money from written premiums, increased to Sh17.8 billion from Sh16.6 billion, primarily driven by growth in the Kenya insurance business and regional general insurance businesses, which contributed 30 percent of the revenue.
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Tanzania’s opposition party ACT Wazalendo honours veteran politician under new policy
Unguja. Opposition party ACT Wazalendo today officially bids farewell to its former Chairman, Juma Duni Haji, also known as Babu Duni, as part of a new policy designed to honor retired senior leaders at a ceremony held at Kiembesamaki, Zanzibar.
The initiative highlights the party’s commitment to recognizing and supporting individuals who have served with dedication and integrity.
Babu Duni, who stepped down earlier this year, was succeeded by Othman Masoud, now the First Vice President of Zanzibar.
The policy aims to provide ongoing respect and support to retired leaders, ensuring their continued recognition and contribution to the party’s development.
“Recognizing their significant contributions to the development and prosperity of the party, this policy ensures that retired leaders continue to be acknowledged and respected by both the party and the community,” the policy states.
To benefit from this policy, leaders must not have left or been expelled from the party. They must have served the party with honor and dedication. The national leadership committee will determine whether a leader has fulfilled these criteria.
The policy seeks to honor retired leaders, protect their dignity, acknowledge their contributions, leverage their ideas for the party’s growth, and support them to the best of the party’s ability.
In honoring these leaders, the party will provide a vehicle, the type of which will be determined by the national leadership committee. Additionally, they will receive a monthly allowance, with the amount also set by this committee.
Other benefits include health insurance. If a leader does not own a home, the party will cover their rent at a rate decided by the committee.
The leadership committee may also grant special recognition based on the leader’s contributions. Retired leaders will participate in decision-making meetings according to procedures outlined in the party’s constitution.
Depending on the party’s resources at the time, the policy may also apply to retired deputy chairpersons for both the mainland and Zanzibar, the Secretary-General, Deputy Secretary-General for both mainland and Zanzibar, and the party’s Attorney General.
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