Tourism revenues experienced a substantial surge, increasing by 37.5 percent to reach $3.3 billion in the period up to November 2023, as revealed in the Bank of Tanzania’s monthly economic review for December 2023. Concurrently, tourist arrivals exhibited a notable rise of 27 percent, totaling 1.797 million visitors. This robust growth in the tourism sector,...
This comprehensive view provided by the DP World CEO underscores Tanzania’s emerging role as a gateway to African trade, highlighting the importance of infrastructure development and international collaboration in realizing this vision. This insight follows the recent 30-year concession agreement with the Tanzania Ports Authority for the Port of Dar es Salaam. Bin Sulayem highlighted...
In a visionary move, Minister of Foreign Affairs and East African Cooperation, January Makamba, is calling on Tanzanians worldwide to join the Diaspora Digital Hub. Speaking during a meeting in the Netherlands, Makamba emphasizes the initiative’s goal of integrating the diaspora into Tanzania’s development plans. The Tanzanian Government unveiled its plans in March 2023 to...
During the recent G20 summit held in New Delhi, Indian Prime Minister Narendra Modi announced a historic development – the African Union, a continental organization consisting of 55 member states, was granted permanent membership within the esteemed G20, a group comprised of the world’s wealthiest and most influential nations. This decision elevates the African Union...
The 13th Africa Food Systems Forum is currently underway in Dar es Salaam, Tanzania, from September 5, 2023, to September 8, 2023. This forum has brought together a diverse array of participants from the private sector and various governments worldwide. President Samia Suluhu began her speech by acknowledging the significance of the youth demographic in...
Recent updates suggest that Dr Wilbroad Slaa was released on bail earlier this afternoon at the Oysterbay Police Station in Dar es Salaam after meeting the set criteria. Dr Slaa’s lawyer also confirmed that his client was transported from Mbeya to Dar es Salaam to face charges. Dr Slaa was arrested a few days ago...
In the heart of Tanzania’s Kibaha district, a transformative endeavour is shaping up to redefine the nation’s economic landscape. The Industrial Park, known as the Sitotan Industrial Park, is poised to become the country’s largest industrial park, with the potential to generate over 600,000 jobs and catalyze growth across multiple sectors. Already attracting investments from...
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...
The volume of cargo handled at major sea and lake ports in Tanzania increased by 26 per cent to 6.5 million tonnes in the first quarter of this year from 5.1 million tonnes recorded during a similar period last year, according to the Bank of Tanzania (BoT), Consolidated Zonal Economic Performance Report for the quarter...
According to the statement issued by the Bank of Tanzania (BoT) on Tuesday, there has been a growing trend of pricing goods and services for locals in US dollars. The central bank emphasized that this practice is a violation of directives issued in August 2007 and December 2017, which prohibit domestic payments for goods and...