Tanzania’s foreign exchange reserves can now cover only 4.2 months of imports, the shortest five-year period. The Bank of Tanzania has attributed this to the economic consequences of the war in Ukraine. Russia’s invasion of Ukraine in February 2022 triggered rising energy costs, surges in commodities prices, and significant damage to the global value chains....
President Samia Suluhu’s 4Rs philosophy, which includes Reconciliation, Resiliency, Reforms, and Rebuilding, seems to sit well with Chadema’s supreme leader, Freeman Mbowe, as he believes to be the cornerstone toward resolving contemporary issues affecting the country’s social, political and economic issues. Chadema national chairman Freeman Mbowe has revealed his party’s decision to continue holding discussions...
The report revealed that the Police Marine unit at the nearby Bukoba port was informed about the Precision Air crash 15 minutes after the crash. Still, its patrol boat arrived at the scene more than two hours later, and divers could not perform rescue duty for a lack of oxygen in the bottles. Dar es...
The Kisutu Resident Magistrate court has adjourned the case against former Dar es Salaam Regional Commissioner Paul Makonda and William Malecela, famous as Lemutuz to November 23, this year. The court decision comes after the State Attorney Wambeya who is defending Patrick Kamwele requested the court to be given 14 days to reply the counter...
A total of 53,600 Tanzanians expected to be employed by the new 329 registered investment projects by both local and foreign investors. Dr. Mwigulu, Finance and Planning Minister, unveiled this information before in the national assembly when presenting the National Development Plan for 2023/24 and guidelines for the proposed revenue and expenditure for the next...
The agriculture Seeds Agency (ASA) is set to install modern irrigation infrastructures at its three seeds production farms in Morogoro, Tabora and Arusha Regions. The TZS 8 billion project will cover the Msimbe seeds Farms in Kilosa – Morogoro (200 hectares), Kilimi Farms – Nzega in Tabora (400 hectares) and the Ngaramtoni Farms in Arusha...
Zitto Kabwe, an outspoken opposition leader and the leader of the fledging oppositional party ACT Wazalendo in Tanzania, has praised the underway political reconciliation strategy pioneered by Her excellency President Samia Suluhu. President Samia’s political reconciliation strategy aims to create a congenial political environment in Tanzania that would leverage socio-economic and political development. At Lake...
Moody’s Investor’s Service deals with delivering independent, in-depth and transparent opinions on credit risk through its credit ratings. The company has recently changed its outlook toward Tanzania from stable to positive. The outlook change to positive reflects moody’s view that political risks have lessened under the government’s new approach to promoting economic development with the...
The government has connected Kibondo and Kasulu districts in Kigoma Region to the national power grid, saving 22. 4bn/- annually used to purchase fuel and maintain generators. He said the saved amount does not include funds spent on power generators in Kigoma – Urban district. Apart from Kigo0ma areas, parts of Nyakanazi, Biharamulo and Ngara...
The Mtwara port in the south of Tanzania, famously for exporting tons of cashew nuts, is now crowded with vessels from Europe grappling to load coal to Europe to counter the prevailing energy crisis. Traditionally, Tanzania exports coal to its neighbouring countries in East Africa. Sending it further afield was out of the question, as...