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...
Coal in Tanzania has become essential in transforming energy production. Tanzania’s coal reserves at estimated to be 1.9 billion tonnes. Tanzania coal is now exported to foreign markets. Tanzania’s Mchuchuma coal deposits has around 540 billion tonnes of reserves. Mining in Tanzania is one of the most vital sectors in the country Tanzania’s mining has...
Tanzania’s Cereals and Other Products Board (CPB) is set to spend US$8.7 million to finance the construction of 3 flour manufacturing plants. The first processing unit will be set up in the city of Mwanza and is set to accommodate a daily production of 125 tons of flour mixtures made from maize and cassava. The second,...
Fertilizer prices have nearly doubled globally, driven by a confluence of factors, including surging input costs and supply shortages fuelled by the Ukraine-Russia conflict. This has negatively impacted agriculture productivity, with Tanzania’s coffee industry expecting a 4 per cent dip in yields to 1.15 million bags in the marketing year 2022/2023. Additionally, the country’s coffee...
On behalf of the minister of sports and culture, Hon Mohammed Mchingerwa, Ms Consolota Mushi, the managing director of Kiswahili Council in Tanzania (BAKITA), has said avoidance or negligence of the use of Kiswahili in performing official activities in Tanzania is punishable by law. Ms Consolata said the minister does not emphasize anything odd but...
NASA’s administrator Bill Nelson recently expressed concerns over China’s aims in space and, in particular, that China would, in some way, claim ownership over the moon and other stop other countries from exploring it. In an interview with the German newspaper, Nelson cautioned, “We must be very concerned that China is landing on the moon...
Following the surfacing of 39 unconfirmed names, allegedly to be government echelons whom people have claimed to have illegally taken their lands at Isamilo in Mwanza region, the Tanzania Revenues Authority commissioner, Alphayo Kidata, whose name has also been revealed, refutes such allegations against him. Kidata says he’s caught in awe of his name being...
The veteran oppositional leader and long-serving chairperson for Tanzania Labor Party (TLP), Augustino Mrema, has said that the new constitution is not a solution to all people’s problems. Mremba made those controversial remarks in Dodoma before the special committee appointed by President Samia Suluhu to collect opinions that will be used to sharpen and strengthen...