Cargo handling at Lake Victoria ports increased to 79,000 tonnes in the first quarter of the current fiscal year, surpassing the target of 77,000 tonnes. This growth can be attributed to increased business activities among East African member states, as stated by Mr Francisco Mwanga, the Lake Victoria Ports’ Operations Officer, during an event welcoming...
Tanzania has demonstrated robust economic growth in the first and second quarters of this year, with a growth rate of 5.4 percent and 5.2 percent, respectively. According to the Monetary Policy Committee (MPC) Meeting Statement released by the Central Bank, this growth is expected to reach 5.3 percent by the end of the year. The...
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 Minister of Health, Ummy Mwalimu, has stated that due to the uniqueness of Universal Health Insurance for All, the Ministry of Health, in collaboration with the Ministry of Finance, has proposed various sources of income to sustain the fund. These sources include a portion of revenue from taxes on carbonated beverages, alcoholic drinks, cosmetic...
Africa, often referred to as the “last frontier” for investment, has been capturing the attention of the global business community as the second-most populous continent and home to numerous emerging economies. Africa’s financial markets are becoming increasingly attractive for investors seeking opportunities beyond traditional markets. Over the years, these markets have exhibited impressive progress, making...
According to a United Nations report, Tanzania is projected to be the third fastest-growing economy in Africa in 2023 with a growth rate of 5.6 percent, following Cote d’Ivoire and Rwanda. Cote d’Ivoire, the world’s largest producer of cocoa, is expected to register a growth rate of 6.5 percent due to successful technology-driven transformation and...
President Samia Suluhu Hassan announced that maternal deaths among mothers have decreased from 530 maternal deaths per 100,000 live births in 2015/2016 to 104 maternal deaths per 100,000 live births in 2022. She made these remarks on October 28, 2028, during the launch of the Maternal and Child Health Research Report and Malaria Indicators in...
The Tanzanian government recently disbursed $30 million (TZS 76.5 billion) to Winshear Gold Corp as part of an out-of-court settlement, resolving an investment dispute with the Canadian company. Winshear had initiated legal action at the International Centre for Settlement of Investment Disputes (ICSID), seeking approximately $100 million in damages resulting from the Tanzanian government’s cancellation...
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 development, India and Tanzania have strengthened their historic friendship by establishing a Strategic Partnership. The two nations, Prime Minister Narendra Modi of India and President Samia Suluhu Hassan of Tanzania, commemorated this momentous occasion at the MoU exchange program held at Hyderabad House in Delhi. Prime Minister Narendra Modi’s Remarks: Prime Minister...