Tuesday, September 5, 2017

When everything else is turning to technology why not weddings?


Wedding cakes

As everything goes digital, so are weddings. Families can opt to create a wedding website, where invitees can check for updates. From the wedding date, to route to the venue, color of the wedding, and selected vendors.

But also a contribution component can be added to the website where visitors can offer their 'Mchango'. This feature can be integrated with local mobile payments gateways i.e M-pesa, Tigo pesa. This has made things easier for everyone. The 'Mchango' (contribution) can be displayed on the website in real-time with an indicator that shows how far you are from the target budget.
The wedding committee could use apps and sites like Bitrix24 and Trello to manage the wedding and do task collaborations together with selected wedding vendors.

The wedding photographers could use Facebook, Instagram, Snapchat or Periscope to do a live broadcast of the wedding amongst friends and family members. But also they could use the Eversnap site/app to place everybody’s wedding photos there and just provide a link to the invitees.

They could also take advantage of the use of hashtags (#) to tie down all images and videos that are being shared on social media like #JohnWedsMary.

And at the wedding itself  there is no short of tech application from live streaming, wearable devices that track your every move like Gopro, selfie stick, phone recharging stations, 3D printed cake decorations and so much more.


The Business of weddings is proudly brought to you by Raha Broadband visit. www.raha.co.tz

Technology tips for your wedding


Tuesday, August 29, 2017

How beauty skills have addressed unemployment among young women


At first blush, the beauty industry could be thought to cater only to the glamorous, or perhaps the vain, or may be just those in the spotlight. And it does - along with everyone else! This industry has also been seen to build its success around weddings.

As weddings in Tanzania increase so does the demand for grooming services.

Grooming of brides and grooms in Tanzania includes make-up artists, salons and beauty spas. As both the bride and groom require grooming for their special day.

We took a closer look on makeup artists a profession that has had rapid growth for the past three years. Before, makeup would be included as a salon package but today makeup artists have alienated themselves from salons and established working stations known as makeup studios.

A survey indicates that there are more than 50 makeup artists in Tanzania. This immerging opportunity has helped majority of young women who have decided to capitalise on this fast growing ‘industry’.

We had an interview with Upendo Shuma famously known as Lavie makeup. She is one of the top listing makeup artists in Tanzania, who through her business made it to the Forbes under 30/30 list earlier this year.

She is a graduate from the University of Tumaini, with a bachelor degree in business administration.

She got her skills from watching YouTube tutorials from other makeup artists. Her business started as a part time job.

But she took a bold step in 2013 when she made a decision of leaving a job that paid her over Sh1,000,000 and establish her makeup business as a full time job.

Upendo agrees it wasn’t a slide on a slope but looking back it was worth taking that risk.

“I now have a makeup studio, my own brand of eyelashes and train aspiring makeup artists,” she says.

She became popular after she worked with celebrities like Jokate Mwegelo, Elizabeth Michael and Wema Sepetu.

Most of her work is dependent on weddings. During the high season she tends to a maximum of 15 brides per Saturday while low season 5 brides.
Her service prices range from Sh300,000 to Sh1,500,000 depending on the season.
She believes that the wedding industry is big and has a lot of opportunities to gain from. But also it is a place where one can easily be financially successful considering the fact that when it comes to weddings couples are not cost conscious.

“To some extent as a service provider I am not worried about my prices no matter how high they are. As it's well known that when it comes to weddings, people spend.” she says adding:
“Makeup is a core factor in a wedding because a bride with ruined makeup ruins the entire day – which is supposed to be memorable. This also means she won't get good pictures and generally ruins the memories of her wedding day."

Her life and career highlight is being on the Forbes 30/30 list earlier this year.

She does make up classes but also did her recent master class in collaboration with a Kenyan cosmetic line ‘Huddahthebosschick’.

“The future for Lavie is expanding my brand to Arusha, Mwanza - the big cities of Tanzania,” she says.

The Business of weddings is proudly brought to you by Raha Broadband visit. www.raha.co.tz
Technology tips and tips for your wedding


Friday, July 21, 2017

The Business of Financial Technology in Tanzania


I was talking to my dad recently and asked him how often he goes to the bank nowadays and how often he used to go to the bank. He said chances are that he might not go to the bank for months these days, thanks to the digital era as opposed to at least once every week in the past.

I also asked him what he thought of the people in the rural areas who have become so proactive with mobile money unlike with traditional banking. The answer is – Financial Technology (Fintech) which has made money accessible and transferable from any part of the world on the touch of a button.

Financial technology (FinTech) is the new applications, processes, products or business models in the financial services industry, composed of one or more complementary financial services and provided as an end-to-end process via the Internet. A new form of technology and innovation that aims to compete with traditional financial methods in the delivery of financial services.

Tanzania today has over 50 licenced banks but only 15 per cent of the population are subscribed to these banks whilst the number of users subscribed to mobile banking is 60.4 million, out of which 19.5 million are active users as of June 2016.
The volume of mobile banking transactions in Tanzania is 4.4 million to date with a value of Sh194.2 million.

 This is what Ms Ineke Bussemaker, Managing Director and CEO of National Microfinance Bank (NMB) was reported as saying: “Today, in Tanzania about 15 per cent of the population has a bank account, which is 7.5 million people out of 50 million. However, 60 per cent have a mobile phone and use mobile financial services, which equals to 28 million new customers."

Tanzania is one of the world leaders in mobile money transfers (mobile phone-based money transfer), with 44 per cent of adults having access to the platform.

Mobile money penetration rates in Tanzania have reached 65 per cent in urban areas and about 25 per cent in rural areas.

There are four mobile money providers in Tanzania namely Vodacom with M-Pesa (42% market share), Tigo with Tigo Pesa (31%), Airtel with Airtel Money (24%), Zantel with Ezy Pesa (2.5%) and Halotel with Halopesa.

As of 2016 these operators had 280,675 agents across Tanzania.

We carried out random interviews on the streets and this is what Tanzanians had to say about Mobile money in Tanzania:

In early 2016, Tanzania was the first country to achieve full Interoperability; the ability of users of different mobile money services to transact directly with each other.

International interoperability is also a reality in Tanzania thanks to the partnerships of mobile money operators with international money transfer services like MoneyGram, Western Union and Mpesa whereby Vodacom Tanzania also allows operator-to-operator international money transfer interoperability through its partnerships with Safaricom in Kenya.

However, one of the main challenges to Tanzania’s mobile money growth is taxation. A mobile money tax was first introduced in Tanzania in 2013 when an excise duty of 0.15 per cent was charged on transfers exceeding Sh30,000. The tax was then replaced in 2014 with the current m-money fee excise tax of 10 per cent.

Since the mobile money excise is charged on transfer fees, the tax is a larger share of the cost for smaller transfers. Therefore this tax is regressive and imposes a larger burden on low-income consumers, which could potentially reverse financial inclusion gains made in Tanzania, according to the GSMA. “Removing the tax on mobile money charges could improve the affordability of these services, enhancing financial inclusion.” the GSMA notes.


Friday, June 2, 2017

Initial Public Offerings in Tanzania

Vodacom Tanzania recently issued an IPO, one of the largest IPOs in Tanzania. With all this talk we hear on radio and TV do we know what an IPO means or how it works in Tanzania?, IPO is an abbreviation of Initial Public Offering.

An Initial Public Offering is a type of public offering in which shares of a company are sold to the general public on a securities exchange for the first time. This is also known as ’going public’. In Tanzania the IPO process is governed and regulated by the Capital Markets Securities Authority (CMSA).

After an IPO, the subscribed and issued shares can be traded in secondary markets which deal with the buying and selling of shares. The Dar-es-salaam Stock Exchange (DSE) is a secondary market. An IPO has three key players - the Lead Transaction Advisor (LTA), Capital Market Securities Authority (CMSA) and Dar es Salaam Stock Exchange (DSE).

Tanzania works was able to get expert views and insights about the CMSA and IPOs from Kamanga Kapinga, the legal advisor at brokerage company - Vervet Global.


Wednesday, May 31, 2017

Vox pop opinions from the public on what is the general investment atmosphere in Tanzania and what is the understanding on IPOs.