Tanzania’s commercial banks recorded a combined net profit of Sh1.2 trillion in the first half of 2025, marking a 9% increase from Sh1.09 trillion posted during the same period in 2024, according to an analysis by The Citizen. The strong performance was driven by robust growth in both interest-based and non-interest income, reflecting sustained momentum...
Tanzania has secured a major breakthrough in agricultural trade, with 16 local companies officially registered by the General Administration of Customs of China (GACC) and approved to export avocados to the Chinese market. The achievement reflects the success of President Samia Suluhu Hassan’s diplomatic efforts and her strong focus on creating international market access for...
Tourism has officially become Tanzania’s leading source of foreign exchange, surpassing gold for the first time in years and marking a major milestone in the country’s post-pandemic economic recovery. According to the Bank of Tanzania’s (BoT) Monthly Economic Review for June 2025, tourism revenues reached $3.92 billion in the year ending May 2025. This represents...
Between July and March of the 2024/2025 financial year, the Dar es Salaam Port has continued to benefit from increased private sector investment, a move that has significantly improved its performance and productivity. The port, a vital economic gateway for Tanzania, has seen marked progress due to this public-private collaboration. According to a statement from...
Motorists in Tanzania will see a slight drop in fuel prices this month, following new cap prices announced by the Energy and Water Utilities Regulatory Authority (EWURA), effective July 1, 2025. The revision aligns with the newly implemented finance act. In Dar es Salaam, petrol now sells for Sh2,877 per litre (down from Sh2,885), diesel...
Tanzania has secured a major financial boost after the International Monetary Fund (IMF) approved key programme reviews, unlocking new funding worth approximately $448.4 million (about TSh1.17 trillion). In a statement released on Friday, 27 June, the IMF confirmed the completion of its 2025 Article IV Consultation, along with the fifth review under the Extended Credit...
The Treasury Registrar, Mr. Nehemia Mchechu, has announced that his office has collected a record TZS 1.028 trillion in dividends from public institutions and companies in which the government holds shares during the current financial year. This represents a 68% increase compared to the previous year’s dividend collection of TZS 611 billion — a significant...
Tanzanian businessman Mohammed “Mo” Dewji has been named East Africa’s wealthiest individual, with his net worth rising to $2.2 billion (£1.7 billion), according to Forbes’ 2025 list of Africa’s billionaires. The 49-year-old is the only person from the region to feature among the continent’s top 15 richest individuals and ranks 12th overall. Dewji also retains...
Tanzania witnessed a significant surge in investment during the third quarter of the 2024/25 fiscal year, with registered projects totaling $2.16 billion between January and March 2025. This marks a 46.72% increase compared to the $1.47 billion recorded during the same period the previous fiscal year. The sharp rise was largely fueled by a boost...
The Tanzania Investment Centre (TIC) has recorded a historic milestone in 2024, registering 901 investment projects—the highest number since the centre’s establishment in 1997. This marks a 71% increase compared to the 526 projects recorded in 2023. The surge in investment activity is attributed to key reforms, including amendments to the Investment Act No. 10...