The terrible performance of TICTS in handling containers at the Dar es Salaam Port over the past 20 years has spillover effects on the vast economic arrays of Tanzania’s economy. The underperformance of the Dar es Salaam port has cost the government trillions in loss of revenues as there has been reported exodus of local...
Somalia has renewed its bid to join the East African Community (EAC) trade bloc, after the country’s newly elected President Hassan Sheikh Mohamud arrived in Arusha to attend the ongoing 22nd Ordinary East Africa Community Heads of State Summit. ”I am here to make a formal bid for Somalia to join the East African Community,” Mohamud said....
Tanzania aims to generate 6000MW of renewable energy by 2025 as Tanzania seeks to fast forward the diversification of the energy mix to ensure energy security. The 6000MW renewable energy milestone will involve various sources, including hydropower, solar and wind. President Samia made that revelation on her US tour in April 2022. The achievement of...
The high-level business delegation has arrived in Tanzania to seek trade and investment opportunities in the agriculture and livestock value chain. Tanzania Investment Centre welcomed the delegation on July 17, 2022. Speaking with the delegation during the meeting on Tuesday in Dar es Salaam, the Deputy Minister for Investment, Industries and Trade, Exaud Kigahe, assured...
For the past few days, business stakeholders have been pleading the government not to offer a new contract to the Tanzania International Containers Terminal Services (TICTS) following its poor performance at the Dar es Salaam port causing unnecessary container congestion leading to shipment delays and expensiveness in conducting business. The wails of the stakeholders have...
Following the sluggish clearance of consignments at the Dar es Salaam Port by Tanzania International Container Terminal Services Ltd (TICTS), the business stakeholders have unanimously called on the government to halt renewal of the contract with the company citing its ineffectiveness and inefficiency at handling containers leading to a lot of unnecessary problems. The company...
GSMA Intelligence’s report showed mobile phone subscribers stood at 46 per cent in Sub-Saharan Africa, while smartphone adoption was at 64 per cent The data revealed that mobile technologies and services contributed over $130 billion (Sh 15.4 trillion) to the region’s economy (8 per cent of GDP) in 2021 GSMA predicts that Africa will have...
The Executive Board of the International Monetary Fund (IMF) has completed the Third review under the 38-month arrangements under the Extended Credit Facility (ECF) and the Extended Fund Facility (EFF) arrangements. The Board’s decision allows for an immediate disbursement of $235.6 million usable for budget support, bringing Kenya’s total budget support disbursements to about $1.2082...
The government of Tanzania has earmarked a total of 400,000 hectares of land for wheat cultivation, a move aimed at ending crop shortage in the country. Hussein Bashe, the Minister of Agriculture, said the 400,000 hectares of land would be cultivated with wheat in wheat-growing regions within three years, beginning in 2022. According to the...
IMF Board approves SDR 795.58 million (about US$1,046.4 million) ECF arrangement for Tanzania, with about US $151.7 million disbursed immediately. The 40-month financing package will assist the economic recovery and address the spillovers from Russia’s invasion of Ukraine, help preserve macroeconomic stability, and support structural reforms toward sustainable and inclusive growth, drawing on the government’s...