Kenyan investors are setting their sights on Tanzania’s promising business landscape, aiming to double the number of projects in the country in the coming years. Their strategy revolves around leveraging Tanzania’s pro-business policies and growth potential. At the Kenyan Diaspora in Tanzania (Kedit) forum held in Dar es Salaam on March 9, 2024, investors convened...
Gavana wa Benki Kuu nchini Tanzania Emmanuel Tutuba amesema kwamba kuongezeka kwa matumizi ya noti ya Tsh 10,000 ni ishara ya kwamba uchumi unazidi kufunguka na biashara zinaongezeka. Gavana Tutuba amesema, matumizi ya noti ya Tsh 10,000 yameongezeka kwa asilimia 75 ndani ya miaka mitano. Takwimu za Benki Kuu Tanzania zinaonesha mzunguko wa noti ya...
President Samia Suluhu, in her New Year speech, provides insights into Tanzania’s economic strategies, particularly in tax collection and the pivotal production sectors. The announcement of a remarkable 8% increase in tax collection, totalling TZS 22.6 trillion for the fiscal year ending June 2023, signifies a positive trend in revenue generation. This growth aligns with...
The Tanzanian and Ugandan governments have initiated the Multinational Lake Victoria Maritime Communication and Transport (MLVMCT) project, focusing on physical infrastructure development. Implemented through the Lake Victoria Basin Commission (LVBC) in Ilemela District, Tanzania has allocated a 13,827 square meter land for various purposes, including the installation of the Search and Rescue main Station. Captain...
The International Monetary Fund (IMF) has given its approval for the second review of Tanzania’s Extended Credit Facility Arrangement. This means Tanzania will receive an immediate disbursement of approximately $150.5 million to support its budget. The total access under this arrangement for Tanzania is now about $455.3 million. This arrangement aims to help Tanzania recover...
In a strategic move reflecting their commitment to excellence and continual growth, Dubai Ports’ “Kigali Logistics Platform” in Masaka sector, Kicukiro district, inaugurated two spacious warehouses on December 6. The new facilities, covering 2500 and 3000 square meters, mark a significant expansion, bringing the total to twelve warehouses within the past four years. Various officials...
EACOP (East African Crude Oil Pipeline) has successfully delivered 339 houses as part of its housing replacement initiative in Songakibaoni Village, Muheza, Tanga Region. Wendy Brown, the EACOP General Manager for Tanzania, highlighted the significance of this housing program in supporting households affected by land acquisition, emphasizing the collaboration with local contractors to empower communities...
In its recent release of the Africa Trade Barometer 2023 report, the Standard Bank Group presents a comprehensive analysis of trade dynamics across the African continent, drawing insights from the experiences of businesses in ten key economies. The report, a valuable resource for various stakeholders such as businesses, entrepreneurs, students, governments, NGOs, and investors, sheds...
Standard Chartered Bank Kenya Ltd. shrunk its holdings of the East African nation’s government securities by 52% at a time when the investments are drawing attractive returns. The huge decline came as a surprise as the lender even took a trading loss of 2.3 billion shillings ($15 million) on the investments, Sterling Capital said in...
In a notable development, the Tanzania Bureau of Standards (TBS) has recently granted 145 certificates and licenses to manufacturers who have met the stringent criteria for product quality between June and November this year. This recognition underscores the commitment of these producers to adhering to required standards, facilitating their access to both regional and global...