In its recent release of the Africa Trade Barometer 2023 report, the Standard Bank Group presents a comprehensive analysis of trade dynamics across the African continent, drawing insights from the experiences of businesses in ten key economies. The report, a valuable resource for various stakeholders such as businesses, entrepreneurs, students, governments, NGOs, and investors, sheds...
Somalia has officially become the eighth member of the East African Community (EAC), marking a significant development in the regional trade bloc. The announcement was made during a summit in Tanzania by the outgoing EAC chair, Burundian President Evariste Ndayishimiye. The EAC, founded in 2000, is dedicated to promoting trade by eliminating customs duties among...
The Rural Energy Agency (REA) reported a surge in applications for loans to establish rural filling stations, but only a handful made the cut. Of the 176 applications received after closing the tender in August, only 26 were deemed fit to proceed to the next round after scrutinization. The REA, aiming to reduce risks associated...
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...
Extension officers across Tanzania have received a call to amplify their advisory services, marking a crucial step towards the government’s ambition to transform the nation into a food-sufficient powerhouse and Africa’s primary food basket. The appeal came from Professor Riziki Shemdoe, the Permanent Secretary in the Ministry of Livestock and Fisheries Development, during the 2023...
In a significant stride towards sustainable energy solutions, 44 clean cooking energy enterprises have earned grant funding from the CookFund program, a venture funded by the European Union (EU) and managed by the UN Capital Development Fund (UNCDF). The grants, totaling 9.4 billion Tanzanian Shillings, mark the successful conclusion of the program’s second call for...
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...
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 significant diplomatic exchange, Tanzania’s Minister of Foreign Affairs recently held a crucial conversation with Israel’s Foreign Minister, Eli Cohen, regarding the disappearance of two Tanzanian students and the ongoing conflict in the region. The dialogue, conducted via official channels and social media, saw the Israeli Foreign Minister, Eli Cohen, express his personal commitment...