In a momentous event on August 19, 2023, President Samia Suluhu graced the opening of a pivotal working session attended by board chairpersons and top executives of public institutions. Her presence embodied her commitment to catalysing change and driving progress in the realm of public enterprises. President Samia Suluhu’s address at this gathering resonated with...
In the midst of a national debate titled “Safeguarding and Nurturing National Unity During Political and Economic Transformations,” Father Charles Kitime’s perspectives have stirred intrigue. Held on June 19, 2023, his endorsement of DP World’s investment in Tanzania resonated, emphasizing the historical significance of the private sector in the country’s advancement. The debate unfolded against...
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 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...