With marketers of petroleum products continuously detailing how the appreciation of the United States dollar was adversely impacting their business, resulting in a pump price rise, the Bank of Tanzania (BoT) says it was now taking at least five measures to address the situation. With the greenback now fetching Sh2,510/Sh2, 610 in bureau de Change...
The Tanzania Investment Centre (TIC) has witnessed a remarkable increase of 26.1 per cent in newly registered projects during the period between July 2022 and June 2023, compared to the previous fiscal year of July 2021 to June 2022. In the 2020/2021 financial year, 234 projects were registered, while 273 investment projects were registered in...
The Tanzanian government is taking various measures to boost the production of sunflowers in order to reduce the country’s reliance on importing edible oil. Dodoma, Singida, and Manyara have been identified as strategic regions for increasing sunflower production. The government’s initiatives include providing farmers with access to quality sunflower seeds and agricultural inputs, such as...
The International Monetary Fund (IMF) Deputy Managing Director Bo Li has commended Tanzania for its commitment to preserving Tanzania’s macroeconomic stability in a challenging global environment adding that the authorities’ swift policy response helped contain inflation and safeguard the economy against spillovers from the war in Ukraine. “I welcomed the authorities’ continued commitment to their...
The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in...
The International Monetary Fund (IMF) Deputy Managing Director Bo Li has concluded his visit to Tanzania with a firm commitment towards supporting the country’s efforts in unlocking its development potential. Mr Bo applauded the Tanzanian authorities’ efforts in implementing the country’s economic reform agenda. “I commended the authorities’ commitment to preserving Tanzania’s macroeconomic stability in...
Zaidi ya wakazi 10, 000 wa Kijiji cha Bugayambelele Kata ya Kizumbi Manispaa ya Shinyanga, wameondokana na adha ya kukosa huduma ya maji baada ya mradi wa maji ya Ziwa Victoria wa Sh270 bilioni kukamilika. Zaidi ya wakazi 10, 000 wa Kijiji cha Bugayambelele Kata ya Kizumbi Manispaa ya Shinyanga, wameondokana na adha ya kukosa...
East Africa will register the highest regional economic performance on the continent in 2023 and 2024, with growth figures at over 5 per cent, according to the newly published African Development Bank 2023 East Africa Economic Outlook. The report, launched on Thursday, 27 July, projects mid-term economic growth in the region to accelerate to 5.1%...
The UTT AMIS fund’s historic growth of 184.94% over two years reflects a positive economic climate and effective management strategies. The fund’s increase from TZS 539.0 billion to TZS 1.53 trillion between March 2021 and June 2023 highlights its exponential expansion, making it the fastest-growing collective investment scheme in the East African region. The growth...
Amidst the gradual recovery of air transport services from the devastating impact of the COVID-19 pandemic, a significant breakthrough has been achieved in rejuvenating the aviation industry. In a recent bilateral summit held in a serene location in Moscow, experts from the Governments of the United Republic of Tanzania and the Russian Federation convened with...