Polycarp Igathe

World Bank Group Launches New Framework for Inclusive, Private Sector-Led, and Resilient Growth in Tanzania WASHINGTON, July 11, 2024— The World Bank Group’s Board of Executive Directors has endorsed the new Country Partnership Framework (CPF) for Tanzania to support the country in consolidating its status as a middle-income country, achieving a high level of human development, and contributing to the World Bank Group’s (WBG) mission to end extreme poverty and boost prosperity on a livable planet. The new strategy maximizes the impact of the One-WBG approach, coordinating and leveraging the strengths of the International Development Association (IDA), the International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA) in the country over the period FY2025 to FY2029. >> The CPF builds on a well-performing WBG portfolio in the country. Through the CPF 2018-2022, the World Bank provided over $9 billion dollars of financing that delivered important improvements for Tanzanians, such as: Increased access to safe water for nearly 4.7 million people which helped reduce the disease burden and improved school attendance and completion rates, particularly for girls. Improved secondary education benefiting 2.7 million students, especially girls, by providing better-equipped secondary schools. Additionally, technical and vocational education enrollment tripled and 64% of female graduates found employment. Expanded access to electricity for 7.9 million people in rural areas, which enhanced their livelihoods, health, and learning opportunities. IFC’s investment portfolio in Tanzania stands at over $400 million with investments focused in key sectors including financial institutions, agribusiness, and real estate. The IFC advisory portfolio reached $11 million in 2024. Over the last few months, MIGA has issued its first political risk guarantees in a decade in Tanzania, with guarantees in the mobile money and banking sectors. As a result, MIGA now has a portfolio of $151 million in the country and a strong pipeline in the renewable energy and digital sectors.

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The Ministry of Trade, Industry, and Cooperatives (MTIC) is working to implement the Accreditation Services Act of 2021. To achieve this, the Ministry, in partnership with development partners, has developed draft regulations leading to the establishment of Uganda National Accreditation Services (UGANAS), the standards accreditation body. We are privileged to work with Feed the Future Institutional and Systems Strengthening Activity (ISSA) in contributing to the accomplishment of this crucial task by the Ministry. UGANAS will play a vital role in certifying more accreditation service providers and labs in the country. This will lead to increased export trade and access to high-value markets through easy access to standardization services. The private sector will benefit from these services, which will facilitate investments and enhance business performance. We were pleased to join MTIC, ISSA, and other stakeholders at a validation meeting for the draft Accreditation regulations held at the UGANAS office in Kyambogo recently. Over 60 key players from various organizations, including the World Health Organization (WHO), Uganda National Bureau of Standards (UNBS), Ministry of Health, Ministry of Agriculture Animal Industry and Fisheries (MAAIF), MTIC, National Planning Authority (NPA), Ministry of Works and Transport (MoWT), Joint Clinical Research Centre (JCRC), National Agricultural Research Organization (NARO), Uganda Revenue Authority (URA), National Environmental Management Authority (NEMA), Directorate of Government Analytical Laboratories, Uganda Halal Bureau, Makerere University, Kyambogo University, Uganda Industrial Research Institute (UIRI), Uganda Coffee Development Authority (UCDA), National Water and Sewerage Cooperation (NWSC), Uganda Manufacturers Association (UMA), and Mengo Hospital attended the event. We applaud MTIC for reaching this significant milestone. We are committed to working with the Ministry to achieve this important work. For more information, follow this link. https://lnkd.in/eF-TBB3P #strategicpartnerships #Policy #Enablingenviromnent #capitalraise #investments Ministry of Trade, Industries and Cooperatives Mkazipreneur Goldstone Enterprise Consulting and Training  William J. Nyakatura Kenneth Nkumiro PGD-OD MA MBA-E4IMPACT USAID Chemonics International Inua Capital Crested Capital CrossBoundary Group Open Capital TLG Capital Mastercard Foundation PCP Samawati Capital Partners ASIGMA Uganda Investment Authority Ministry of Finance, Planning and Economic Development Ministry of Agriculture, Animal Industry and Fisheries Uganda Development Bank World Health Organization Uganda National Bureau of Standards (UNBS) Ministry of Health - Uganda National Planning Authority(NPA)

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1) How Can Strengthening Trade Between the two continents #Africa and the #USA Unlock Opportunities? The potential for growth through enhanced trade between Africa and the USA is immense. Strengthening trade can unlock significant opportunities, benefiting both continents in numerous ways. Increased “processed” exports from African countries to the USA can lead to job creation in agriculture, manufacturing, and services. The United States, as the largest goods importer in the world, imported $3.2 trillion worth of goods in 2022. The top five suppliers of U.S. goods imports in 2022 were:  China ($536.3 billion) Mexico ($454.8 billion)  Canada ($436.6 billion) Japan ($148.1 billion) and Germany ($146.6 billion) U.S. goods imports from the European Union 27 were $553.3 billion, according to the Office of the US Trade Representative. Total exports from 49 Sub-Saharan countries to the US reaching $31.4 billion in 2022! There is vast potential, as well as challenges, for growth!!!…….to be continued. #Africa #Egypt #USA #USATrade #BilateralTrade #EconomicGrowth #Innovation #SustainableDevelopment #Collaboration #misegypt M.I.S for Trade & Supplies, LLC Egypt MIS Group

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