In a remarkable demonstration of Tanzania’s growing economic influence on the global stage, President Samia Suluhu recently attended the Saudi Arabia-Africa Summit in Riyadh. The summit, which attracted numerous African nations, provided a platform for fruitful discussions with directors of various Saudi Arabian companies across industries such as manufacturing, agriculture, mining, livestock, tourism, and energy....
In a remarkable turn of events, Tanzania’s National Food Reserve Agency (NFRA) has reported a substantial increase in food stocks, reaching an all-time high of 244,169.5 tonnes in the third quarter of 2023. This marks a significant surge from the 149,044.4 tonnes recorded during the same period in the previous year, as revealed in the...
In a heart-wrenching turn of events, the Tanzanian Ministry has confirmed the demise of Mr. Clemence Felix Mtenga, a vibrant Tanzanian youth, amidst the chaos that unfolded during the clashes on October 7, 2023, in Israel and the Palestinian territories, specifically Gaza. The news was met with profound sorrow and regret by the authorities, as...
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...
Arusha city’s atmosphere shifted dramatically as heavy rains set in just before the commencement of a historic gala. Over 100 tour and travel agents from the United States touched down in the renowned Northern Circuit, the heart of Tanzania’s tourism. Welcoming the distinguished guests were Mr. John Mongera, Arusha Regional Commissioner, and key figures like...
In a significant move, Saudi Arabia is poised to enter into agreements worth SR2 billion ($533 million) with various African countries. This announcement was made by the Kingdom’s Finance Minister, Mohammed Al-Jadaan, during the Saudi-Arab-African Economic Conference in Riyadh. These agreements will be facilitated through the Kingdom’s Fund for Development and will encompass a diverse...
Tanzania’s trade landscape witnessed noteworthy shifts between 2021 and the anticipated trends for 2023. Over this period, exports of goods and services surged by 43%, underscoring Tanzania’s effective expansion into international markets. In contrast, imports soared by 61%, surpassing the export growth rate and exacerbating the trade deficit. The balance of payments, reflecting the difference...
In a comprehensive review, the statement provides valuable insights into Tanzania’s economic trajectory and the effectiveness of its monetary policies. The Monetary Policy Committee (MPC) noted the successful implementation of a less accommodative monetary policy, maintaining liquidity at appropriate levels throughout August, September, and October 2023. This, coupled with supportive fiscal and structural policies, has...
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...