The European Investment Bank (EIB) has shown interest in expanding its investment portfolio in Tanzania due to the government’s efforts to improve the business climate and stimulate investment in the country. Representatives from the EIB’s regional hub for Eastern Africa visited Tanzania’s Ministry of Finance and Planning, as well as other partners such as the...
Selling feet pictures is just another way people make a lot of money from working at home, but it is a competitive industry, and a lot of effort needs to go into it. Selling feet pictures is not any different to photographers selling their pictures; it just so happens to be their feet selling the...
Confederation of Tanzania Industries (CTI) and the Tanzania Trade Development Authority (TanTrade) have joined hands to announce the inaugural Tanzania International Manufacturers Expo 2023. The expo is scheduled to take place from October 4th to 6th, 2023, at the Diamond Jubilee Hall in Dar es Salaam. The event aims to bring together key players from...
External Sector Performance The economy’s external sector was still affected by the lingering impacts of previous shocks, such as the Ukraine war and the Covid-19 pandemic, which greatly affected global commodity prices. This resulted in a significant increase in the current account deficit due to high import costs. The balance of payments also showed a...
Tanzania’s large Oil & Gas company, Swala Tanzania Plc, has regretted announcing that it has started its liquidation process. Following the meeting of its creditors, who represent approximately 75% of its creditors, the meeting Mar 31, 2023, resolved that the Oil and Gas firm should be placed in liquidation. Swala Oil and Gas (Tanzania) plc...
The construction of the East African Crude Oil Pipeline (EACOP) has been challenged in court by the Kampala-based Centre for Food and Adequate Living Rights and three other organizations. The 1,445-kilometre pipeline, which runs from Hoima in Uganda to Tanga in Tanzania, is being contested because it is environmentally unsound and violates the East African...
De-dollarization is an increasingly important issue in the global economy, with a growing number of countries seeking to reduce their dependence on the US dollar. There are several reasons why de-dollarization is essential, including concerns about the stability of the US dollar, the desire to reduce dependence on the US economy, and the need to...
According to the latest International Monetary Fund (IMF) World Economic Outlook report, East African economies are facing challenges in their growth projections. While Tanzania’s growth projection for 2023 remains unchanged at 5.2 percent, Kenya’s projection has been revised upward from 5.1 percent to 5.3 percent. However, the IMF has downgraded growth projections for Rwanda, Uganda,...
Elsewedy Electric is in the process of making Tanzania its main hub for the production of some of its main products, including transformers and electric cables. Speaking at the factory during the permanent secretary for Investment visit, the Managing Director of Elsewedy Electric Tanzania Eng. Ibrahim Qamer said, “we are committed to ensuring Tanzania feeds...
The Tanzania Investment Centre (TIC) registered 41 projects worth $339.2 million last month being 128 per cent increase as compared to 18 projects registered in February 2022. Out of 41 projects registered in February 2023, 34 per cent are fully owned by Tanzanians while 42 per cent are fully owned by Foreigners and 24 per...