This comprehensive view provided by the DP World CEO underscores Tanzania’s emerging role as a gateway to African trade, highlighting the importance of infrastructure development and international collaboration in realizing this vision. This insight follows the recent 30-year concession agreement with the Tanzania Ports Authority for the Port of Dar es Salaam. Bin Sulayem highlighted...
Tanzania’s foreign currency situation is expected to continue improving, thanks to various factors. Foreign exchange inflows from tourism, export crops, and minerals, along with measures implemented by the Bank of Tanzania (BoT) and the government, contribute to this positive trend. According to the latest statement from the Monetary Policy Committee (MPC) released by the Central...
The Monetary Policy Committee (MPC) of the Central Bank has reported that the national income of mainland Tanzania has experienced satisfactory growth rates, reaching 5.4% and 5.2% in the first and second quarters, with an expectation of achieving an estimated growth rate of 5.3% for the year 2023. For Zanzibar, there was a remarkable growth...
Tanzania’s current account deficit narrowed to $4.02 billion in August this year compared to $4.26 billion recorded during the preceding month of July, according to the Bank of Tanzania (BoT) Monthly Economic Review for September. “Notwithstanding the shocks, the current account balance has improved, attributed to heightened seasonal earnings from tourism activities,” the Central Bank...
In a significant step towards advancing its economic development and infrastructure initiatives, Tanzania has officially become a member of the Asian Infrastructure Investment Bank (AIIB). The milestone was achieved during the AIIB’s eighth Annual Meeting in Sharm El Sheikh, Egypt, where the applications of three economies, including El Salvador, Solomon Islands, and Tanzania, were approved...
In a significant diplomatic move, the President of the United Republic of Tanzania, Her Excellency Samia Suluhu Hassan, is poised to embark on an official visit to India from October 8th to October 11th, 2023. This visit comes in response to an invitation extended by the President of the Republic of India, Her Excellency Droupadi...
28 September 2023 – On 21 September an incident occurred where approximately 100 intruders unlawfully invaded the mine property during heavy rainfall. Unarmed private security contractors responded in an attempt to repel the armed invaders but subsequently requested police intervention to remove the aggressive intruders from the mine site. Seven intruders were arrested and based...
DP World, under the leadership of CEO Sultan Ahmed bin Sulayem, has undergone a remarkable transformation into a comprehensive supply chain player, investing over $6 billion in this strategic evolution. Bin Sulayem discussed this journey during a session titled ‘Trade in a Changing World’ at the 21st Arab Media Forum in Dubai, moderated by Egyptian...
Kenya is on the verge of a groundbreaking development in its energy sector, with plans to commence the construction of its maiden nuclear power plant in 2027. This bold move aims to diversify the country’s energy sources, meet rising demand, and transition towards zero-carbon energy production. Justus Wabuyabo, the Acting CEO of the Nuclear Power...
The Public Procurement Regulatory Authority (PPRA) has outlined the transformative potential of Tanzania’s newly designed National e-Procurement System (NeST) for the country’s public procurement processes. NeST is an electronic system designed to facilitate various aspects of procurement, including e-registration, e-tendering, e-contract management, e-catalogue, and e-auction. Public procurement plays a pivotal role in Tanzania’s economy, contributing...