Tanzania’s private sector has experienced robust growth in credit extension, driven by improved business conditions and supportive fiscal and monetary policies, as the Bank of Tanzania (BoT) reported in its Monthly Economic Review for June 2023. In May 2023, private sector credit exhibited a significant year-on-year growth of 22.5%, compared to 15% in the same...
According to the Iranian envoy, trade between Iran and Tanzania has witnessed significant growth. In the fiscal year 2021/22, Tanzania’s imports from Iran increased by 35 per cent compared to the 2019/20 financial year, amounting to goods worth $35 million (Sh82.25 billion). Conversely, Iran’s exports to Tanzania during the same period reached $95 million (Sh223.25...
The latest Henley Passport Index, a Global passport ranking, has placed the Tanzanian passport in the second position scoring 101 trailing behind the Kenyan passport, which was placed in the 98th position. The Kenyan passport has dropped its position in the latest Index ranking, despite recent efforts by the government to secure more friendly bilateral ties,...
China’s CNOOC Ltd is planning offshore oil and gas exploration with state-owned Tanzania Petroleum Development Corporation as the East African nation seeks to boost the development of its natural resources. The joint will be conducted in the deep-sea blocks 4/1B and 4/1C held by TPDC, according to Tanzania Energy Minister January Makamba. The acreage is...
Kenya has completed the construction of its portion of a $309.26 million electricity transmission line that will allow power imports and exports with neighbouring Tanzania before the end of the year. Energy Cabinet Secretary Davis Chirchir Tuesday said Kenya was installing meters along the transmission line of 507.5-kilometres ahead of the commissioning by December. The...
In a significant diplomatic move, the Minister of Energy in Tanzania, the Honourable January Makamba, embarked on an official visit to China in response to an invitation from China’s Minister of Energy, Dr Jianhua Zhang of the National Energy Administration. The visit, aimed at strengthening bilateral ties, witnessed fruitful discussions between Minister Makamba and his...
Kenya’s President William Ruto has unveiled an ambitious plan to lease and revitalize five critical ports through a public-private partnership (PPP) worth $1.4 trillion. The initiative aims to enhance the country’s maritime industry and improve competitiveness along the northern corridor. Under the proposal, the Kenya Development Corporation (KDC), a development finance institution, has confirmed that...
According to the National Bureau of Statistics (NBS) in Tanzania, the country’s annual Headline Inflation Rate fell to 4.0 per cent in May 2023, compared to 4.3 per cent in April 2023. This means that the rate at which prices of goods and services changed in May 2023 decreased compared to April 2023. The overall...
Parliament is this month expected to debate and approve the Intergovernmental Agreement (IGA) between Tanzania and Dubai on developing Dar es Salaam Port, The Citizen can reveal. This will set the stage for other procedures, including the concession agreement, before the commencement of a new chapter for cooperation between the Tanzania Ports Authority (TPA) and...
In April 2023, the President of the United Republic of Tanzania, Her Excellency Dr. Samia Suluhu Hassan, granted approval for the recruitment of 21,200 new government employees. Out of these positions, 13,130 were allocated to the teaching profession and 8,070 to various healthcare roles. Following the issuance of the employment approval, @ortamisemitz, an official government...