The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in...
The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in...
A number of African countries, including Kenya, Egypt, Zimbabwe, Nigeria, Ghana and Zambia, are currently experiencing shortages of US dollars. The dollar is the dominant currency in international transactions. These countries rely on the US currency to pay for foreign debts, essential goods and industrial inputs. Development economist Christopher Adam explains what causes US dollar shortages...
Zaidi ya wakazi 10, 000 wa Kijiji cha Bugayambelele Kata ya Kizumbi Manispaa ya Shinyanga, wameondokana na adha ya kukosa huduma ya maji baada ya mradi wa maji ya Ziwa Victoria wa Sh270 bilioni kukamilika. Zaidi ya wakazi 10, 000 wa Kijiji cha Bugayambelele Kata ya Kizumbi Manispaa ya Shinyanga, wameondokana na adha ya kukosa...
East Africa will register the highest regional economic performance on the continent in 2023 and 2024, with growth figures at over 5 per cent, according to the newly published African Development Bank 2023 East Africa Economic Outlook. The report, launched on Thursday, 27 July, projects mid-term economic growth in the region to accelerate to 5.1%...
The UTT AMIS fund’s historic growth of 184.94% over two years reflects a positive economic climate and effective management strategies. The fund’s increase from TZS 539.0 billion to TZS 1.53 trillion between March 2021 and June 2023 highlights its exponential expansion, making it the fastest-growing collective investment scheme in the East African region. The growth...
Amidst the gradual recovery of air transport services from the devastating impact of the COVID-19 pandemic, a significant breakthrough has been achieved in rejuvenating the aviation industry. In a recent bilateral summit held in a serene location in Moscow, experts from the Governments of the United Republic of Tanzania and the Russian Federation convened with...
On June 10, 2023, the Tanzanian government signed and approved the Intergovernmental Agreement (IGA) with Dubai to develop the Dar es Salaam Port. This agreement paved the way for further procedures, including the concession agreement, which would facilitate cooperation between the Tanzania Ports Authority (TPA) and DP World, a multinational logistics company based in Dubai,...
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest commercial port operator, is on the verge of securing the rights to develop and manage cargo berths at the main port of Dar es Salaam in Tanzania. Reports suggest that billionaire Gautam Adani is emerging from the Hindenburg episode and making his first significant acquisition,...
In a video posted on the Russian mercenary group’s telegram channel, Prigozhin says his troops are leaving Ukraine to concentrate on Africa. He had not spoken since 24 June, in the wake of his rebellion against Vladimir Putin’s regime. In a video published on 19 July on the Wagner group’s Telegram Channel, Prigozhin announced that...