In Tanzania, investment Act on baking sector is based on Tanzania Investment Act of 1997 and Banking and Financial institutions act of 2006. The Acts are enforced by Tanzania Investment Center (TIC) and Bank of Tanzania (BOT) respectively. TIC acts as a primary agency for the Government to coordinate, encourage, promote and facilitate investment. The center advices the government on investment policies and other related matters. TIC assist banking investors to obtain all necessary permits, licenses approvals, authorization and registration. Bank of Tanzania (BOT) with the authority given by the government under Banking and Financial Act 2006 is responsible in regulating activities of all types of banks in Tanzania. Bank Of Tanzania (BOT), headquarters in Dar es Salaam Banking and financial Act includes regulations that necessary are required to be followed by banks and financial institutions, failure to comply with regulations may lead to revoke of license. The regula...
In the digital trade era of technological advancement and innovation, international trade has greatly benefitted from the development and integration of various electronic interfaces. Growing digital trade activities, e-commerce and artificial intelligence (AI) boosts the free flow of information and increase transparency while improving the efficiency of day-to-day trade processes. The digital economy appears to be a determining factor in innovation. African trade are showing the transformative potential associated with new technologies. Africa is likely to benefit from digital trade in future due to technological advancement. For small businesses in particular, digital platforms have provided unprecedented opportunity to go global. Trade rules as reflected in AfCFTA and Bilateral Agreements can play role in supporting development of e-commerce and use of artificial intelligence in trade in Africa. Pan- African free trade which came to effect into 1st January 2021 will be dri...