BUSINESS BUSINESS ▪ M-PESA ….. page 3 ▪ HOTELS IN TANZANIA ….. page 4 ▪ DEVELOPMENT UNDER MAGUFULI ….. page 6 ▪ TEXTILE INDUSTRY ….. page 7 ▪ JEWELRY IN AFRICA ….. page 9 Page | 2 BUSINESS HOW M-PESA PAVED THE 3.They will use their agent phone to send you the e-money in exchange for cash, or the WAY FOR MOBILE MONEY other way around TRANSFERS 4.You and your agent will receive an SMS By Collinsia Chao from M-PESA confirming the transaction 5.You can also top up your M-PESA account from your bank account. Most banks have a short code for mobile banking Why is M-PESA mostly conducted in lower income countries? This trend is probably because of the issue of bank accounts. Most people in developing M-PESA is a mobile app (application) from countries live in the village. This means they Kenya that is now used around the world, are not able to go to a big town or city making it easy to transfer money through a frequently, and most banks are found in the mobile phone. M-PESA comes from the cities. Using M-PESA does not require you Swahili word for money, “pesa”. to have a bank account, and the app can almost act as a bank account if you need. M-PESA has made digital money transfer possible without the need of a bank account. It’s not good to carry a lot of money because The application only requires you to have a you can face problems like theft. So, M- mobile phone in order to transfer money. It PESA simplifies keeping a lot of money on was founded by a man named Nick Hughes you without having to carry it. in March of 2007 in Kenya. He started by introducing the app in rural areas and by December of the same year, there were about 1.2 million active users. M-PESA has completely transformed how Kenyans pay for goods and services. HOW TO USE M-PESA Using M-PESA is very easy, and perhaps this is the secret behind its success. The following is how to use your account. 1. Go to an authorized M-PESA agent, usually offered at any corner shop, with your phone and original ID You can still have a bank account and use M- 2. Inform the agent how much money you PESA. M-PESA is not perfect, and you can wish to deposit, or take out lose your money if you lose your phone. So, it’s a good idea for you to have a bank account as well. There are also some services Page | 3 BUSINESS not really available through M-PESA like paying of the school fees. Furthermore, when removing money through M-PESA, you are deducted some amount of money. The money that is taken is used to pay the organizational costs, like the people employed. Generally, M-PESA has really paved the way for many people to be able to send and receive their money easily without the need of a bank. February SECRETS BEHIND HOTELS IN TANZANIA By Fadhil Yusuph A hotel is an establishment that provides We have some famous and trending hotels in overnight lodging for the public. Its basic Tanzania. The following are some of the best service is providing a room to sleep in, but hotels found in the city of Arusha: most hotels have at least a restaurant. • Palace Hotel in Arusha Hotels are a business. A person invests in the • Mount Meru in Arusha hotel to create benefits. It can be beneficial if • Lunsh Garden in Arusha you sacrifice your time and energy to do it • Mwambao Hotel in Arusha well. Starting a hotel requires a large capital investment, meaning it will cost you. Each hotel has its own ways and techniques of making themselves famous. Let us look deeply at one hotel, Palace Hotel, which emerged in Arusha, and how it became known outside of Arusha region. Mt Meru Hotel (exterior) Page | 4 BUSINESS To begin with, the location of the Palace Senior, who visited the hotel and saw such Hotel is found on a street called Clock Tower. people. Every kind of social service is available near The services like food supply are well the Clock Tower. It’s very close to the city prepared, special rooms for meetings, shelter center, and everyone knows where it is. and skilled workers are all good, but it is very The features and services provided by the costly. Other features of this hotel are; hotel are appreciated by customers, such as: It has good medical services and professional It is a huge story building; people to help with health problems; There are swimming pools for both grown- It has a conducive environment, meaning the ups and children, which motivate many design makes you feel comfortable; people from different areas to attend the It is also a huge story building; place; According to interviews, many people think The environment is very attractive, there is a that hotels are for rich people only, but that is nice smell and good fresh air; not correct. Hotels can be attended by The place is well arranged, designed, and the everyone. There should be applicable quality furniture allows the customers to feel education to the society so as to remove those relaxed; ideas in their minds. The personnel have good hospitality training; There is another hotel which is trending in Arusha called Mount Meru Hotel. Its location is on Sekei Road. This hotel is famous because it is known to "accomodate big people like presidents" said Johnson Dominick, a form 3 student at Tumaini Mt Meru Hotel (interior) Page | 5 BUSINESS HOW BUSINESS HAS LED TO we are expecting that to happen, but how TANZANIA`S ECONOMIC have we prepared for it? We are preparing for GROWTH development by improving trading activities, which enables economic growth. For By Fausta John example, goods like maize are transported to the other countries like Kenya. We should Magufuli`s current government has really prepare by working hard even though we may improved Tanzania in terms of business. get tired. Since Magufuli became president of the country in 2015, he wanted Tanzanians to be All in all, Tanzania is still a developing known to the outside world like Kenya, country. But nowadays there are many Uganda, America, Zimbabwe and many growing industries such as mining, food others as a land of business. processing, and others which are enabling improvement in our country`s economy. By producing products like food, clothes and other goods, we are selling to outside countries such as Kenya, Uganda, Rwanda, China, Zimbabwe and others. Tanzania has improved and that is why we should be proud of our country. In the past we used to buy many products from other countries, but at present we are making more of our own products from minerals. For example, jewelry made from gold, diamond, tanzanite and ruby. "We Tanzanians expect that when it reaches 2025, Tanzania will be a developed country"; this is from a speech given by President Magufuli. He gave that speech meaning that oom r Tanzania will be known to the outside Mush countries as a developed country. It's true that Page | 6 BUSINESS WHAT HINDERS compared to other countries that have DEVELOPMENT OF THE machines and produce more quality products TEXTILE INDUSTRY IN EAST compared to the products of East Africa." Musa means that some of AFRICA? Tanzania’s textile industry does not have By Neema George advanced machines, and instead they use more traditional means of making clothing. Poor Transportation There is poor quality of technology that would make it easier to transport products in a short period of time. Some of the roads ae not well constructed, and this can lead to slow distribution of products to different places. Lack of skilled labour East African textile industries lack experts that have experience working in textile industries. This lack of education in the textile industries means that some of the labourers have never experience textile machinery. There are many different challenges facing According to Margreth Kafuru, a form 5 East African societies. One area greatly student, "In the textile industries not challenged are the manufacturing industries. everybody has qualifications for being a Examples of manufacturing include textile, worker. Some people, due to failure of their sugar and the mining industries. The textile secondary education go seek jobs in the industry deals with manufacturing raw textile industries without having any materials into finished products. An example education of the textile industry". Margreth is is cotton that is used to make clothing fabrics. talking about people who work in the textile Although the textile industry is doing a great industry, and who do not necessarily have a job, there are some challenges that it faces. good education, and are not worrying about The lack of technology is one. Different the bigger problems in the industry. textile industries do not have important machines that would help in running the textile processing faster. Due to shortage of electricity in East African countries, automation is not widespread because sometimes there simply isn’t electricity to power big machines. According to Musa Daudi from form 5, "textile industries fail due to lack of good technology. There are little advanced machines in the East African textile industry, Page | 7 BUSINESS Lack of support from the government industries, the money is sent to the leaders. When leaders get the money, some of it is The government loans have become very taken and it only helps the industry itself a difficult to receive because the government is little.