Sumitomo Mitsui Financial Group Inc., a Japanese bank, has stated that it is not providing financing for an oil pipeline project in East Africa, joining the ranks of financial institutions distancing themselves from the controversial venture. During a media briefing on Tuesday, Chief Sustainability Officer Masayuki Takanashi clarified the bank’s position, saying, “We are not...
Tanzania’s Headline Inflation Rate Falls Slightly to 4.7% in March 2023, National Bureau of Statistics Reports. The National Bureau of Statistics (NBS) has reported a slight fall in Tanzania’s annual headline inflation rate to 4.7% in March 2023, down from 4.8% in February 2023. The overall index, however, increased from 107.09 in March 2022 to...
The government has said the country has tight laws and regulations guiding foreign exchange trade in the wake of reports that Kenyan businesses are now sourcing dollars from Tanzania to meet manufacturers’ and general goods importers’ obligations. Kenya is currently facing an acute dollar shortage after its foreign exchange reserves dropped to a near 10-year...
Tanzania Petroleum Development Corporation (TPDC) has given the go-ahead to 20 companies to build Compressed Natural Gas (CNG) stations as part of a larger initiative to deliver cleaner and more affordable energy. TPDC’s Oil and Gas director Dr. Wellington Hudson disclosed this during a news conference here yesterday. He stated that some companies are entirely...
A ban on Tanzania’s bitter gourd exports to the European Union (EU) countries has lifted, clearing the way for the fruit to access its sprawling markets. EU Commission in Nov 2022, reported had detected an incidence of quarantine pest hosted in Tanzania’s Momordica Charantia (bitter gourd), warranting a blanket ban on the bitter gourd crop...
President Samia Suluhu Hassan has announced a new commission to assess the performance of Tanzania’s embassies abroad. She made the revelation on Tuesday at the Chamwino State House in Dodoma when launching the commission for Criminal Justice Institutions tasked to assess and recommend how to improve justice. She said after two or three weeks, the...
Kenya has promised to ease trade transactions with its neighbour country Tanzania by January next year. The decision was made to bolster trade between the two nations and increase the volume of locally made goods exchanged between them. According to Kenya’s High Commissioner to Tanzania, Mr Isaac Njenga, both governments have already set plans in...
Several scheduled flights were on Friday cancelled as Kenya Airways (KQ) pilots vowed to begin a strike today on claims the airline’s management failed to address their grievances. A crisis meeting between the Kenya Airline Pilots Asociation (Kalpa) and Transport Cabinet Secretary Kipchumba Mukomen yesterday failed to reach a deal by the time of going...
Archaeologists working on Zanzibar’s famous Stone Town have discovered that the settlement was not built by Omani Arabs, who were major traders in the area in the 18th century. Instead, it was established by local Swahili people. “Our excavations found walls of houses, stone architecture and established it was urbanized in a much earlier period...