The Rural Energy Agency (REA) reported a surge in applications for loans to establish rural filling stations, but only a handful made the cut. Of the 176 applications received after closing the tender in August, only 26 were deemed fit to proceed to the next round after scrutinization. The REA, aiming to reduce risks associated...
In a heart-wrenching turn of events, the Tanzanian Ministry has confirmed the demise of Mr. Clemence Felix Mtenga, a vibrant Tanzanian youth, amidst the chaos that unfolded during the clashes on October 7, 2023, in Israel and the Palestinian territories, specifically Gaza. The news was met with profound sorrow and regret by the authorities, as...
Tanzania’s trade landscape witnessed noteworthy shifts between 2021 and the anticipated trends for 2023. Over this period, exports of goods and services surged by 43%, underscoring Tanzania’s effective expansion into international markets. In contrast, imports soared by 61%, surpassing the export growth rate and exacerbating the trade deficit. The balance of payments, reflecting the difference...
In a comprehensive review, the statement provides valuable insights into Tanzania’s economic trajectory and the effectiveness of its monetary policies. The Monetary Policy Committee (MPC) noted the successful implementation of a less accommodative monetary policy, maintaining liquidity at appropriate levels throughout August, September, and October 2023. This, coupled with supportive fiscal and structural policies, has...
India is the fifth largest investor in Tanzania, with about $3.7 billion in investments. The two countries have also signed six MoUs in communications, maritime security and sports. Tanzania has set a target of receiving $15 billion in Foreign Direct Investment (FDI) from India by 2025, Tanzanian President Samia Suluhu Hassan said on October 10....
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...
On October 10, 2023, the renowned Jawaharlal Nehru University in India conferred an Honorary Doctorate (Doctorate Honoris Causa) upon the President of Tanzania, Samia Suluhu Hassan, making her the first woman to receive such an honour from the university. President Samia received this honorary doctorate almost a year after the University of Dar es Salaam...
Cardinal Protase Rugambwa has called on Tanzanians to be ready to cultivate and uphold a culture of love, solidarity, and cooperation with people from other nationalities as part of the synodal process in building the Church. Cardinal Rugambwa made these remarks in Rome, Italy, shortly after being installed as a Cardinal by Pope Francis at...
Historia imeandikwa katika kiuchumi Historia imeandikwa! Kwa mara ya kwanza baada ya miaka 62 ya uhuru, Tanzania kupitia Benki Kuu ya Tanzania (BOT) imefungua hazina ya kuhifadhi dhahabu ambayo itakuwa inanunuliwa hapa nchini kutoka kwa wachimbaji wa ndani. Sasa Tanzania haitokwenda kutegemea tena hifadhi ya fedha za kigeni pekee iliyokuwa ikiweka kwa miaka yote, bali...
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...