Today marks a momentous occasion for Tanzania’s investment sector and industrial development. The persistent efforts to attract investors to the industrial sector have borne fruit, as numerous industrial ventures have flourished within the nation. In the coastal region of Pwani, statistics reveal the presence of at least 1,525 industrial establishments of varying significance. Moreover, as...
Political party ACT Wazalendo finally, on September 4, 2023, released its stance on the issue of investment in Tanzanian ports by the United Arab Emirates-based company DP World. Since June of this year, this matter has been a subject of intense legal debates among politicians, activists, and scholars within and outside Tanzania. ACT Wazalendo conducted...
Tech giant Google is reaching out to Tanzania and 16 other African countries for participation in its ‘Google for Startups Accelerator: AI First’ initiative. This groundbreaking program aims to assist African startups in leveraging Artificial Intelligence (AI) to tackle local challenges. Among the 17 nations invited are Algeria, Botswana, Cameroon, Côte D’Ivoire, Egypt, Ethiopia, Ghana,...
In a notable economic shift, Tanzania witnessed a surge in its exports of goods and services, with figures reaching $12.76 billion in June 2023—a substantial leap from the $11.004 billion reported during the same timeframe in the previous year. This remarkable expansion can be attributed to the nation’s non-traditional exports, as highlighted in the Bank...
In June 2023, Tanzania’s balance of trade saw a shortfall of $4.86 billion, a notable contrast from the $3.398 billion deficit registered in the corresponding period of June 2022. The driving factor behind this discrepancy, as outlined in the Bank of Tanzania’s (BoT) Monthly Economic Review for June 2023, lies primarily in escalated import expenditures....
Tanzania’s real estate realm has exhibited a steady rebound from the hurdles posed by the pandemic, as demonstrated by a noteworthy uptick in the occupancy rates of commercial properties. This resurgence serves as a testament to the gradual recovery of businesses from the pandemic’s impact. In its most recent Financial Stability Report, freshly issued this...
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...