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 a surprising announcement, Elon Musk and Mark Zuckerberg’s foundations, not the UFC, are set to oversee a groundbreaking fight. The highly anticipated event will be available for live stream on both the designated platform and Meta. A unique twist to this spectacle is that the entire camera frame will mimic the backdrop of ancient...
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....
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...
Landmark Decision Dismisses Legal Challenge Against Tanzania’s Port Investment Deal. In a significant legal ruling today, August 10, 2023, the High Court of the Mbeya region in Tanzania has dismissed a case that contested the implementation of an investment agreement between the government of the United Republic of Tanzania and DP World, a company based...
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...
Despite facing challenges such as tightened global financial conditions, climate-related concerns, the ongoing conflict in Ukraine, and the lingering impacts of the Covid-19 pandemic, a recent report underscores that Tanzania’s economy remains moderately exposed to risks. The Financial Stability Report, released by the Bank of Tanzania (BoT), attributes this moderate risk profile to a robust...
Through the Medical Stores Department (MSD), the government has handed over modern generators to the District Hospitals of Lushoto and Muheza. These generators were provided in response to requests from these hospitals to MSD, aiming to enhance healthcare services for citizens. Dr Godfrey Andrew, Chief Medical Officer of Lushoto District Hospital, expressed gratitude to the...
In a press conference held yesterday in Uganda, Ugandan President Yoweri Kaguta Museveni expressed that Africa is tired of being last in everything, despite possessing a wealth of resources. President Museveni emphasised that Africa should no longer export raw materials but instead should add value to its products and sell them as manufactured goods. This...
In a groundbreaking move, Tanzania’s coffee industry experiences a rejuvenation with the launch of the ‘Tanzania National Coffee Sustainability’ curriculum. Designed in collaboration with key stakeholders, including the Tanzania Coffee Board (TCB) and the Tanzania Coffee Association (TCA), this program aims to equip agricultural extension officers with specialized knowledge in coffee production. The curriculum’s inauguration,...