President Samia Suluhu’s update on the energy sector in her New Year address highlights the challenges faced and the strategic measures taken to address the persistent issue of power shortages in Tanzania. The acknowledgement of a prolonged history of power rationing sets the context for the government’s decisive action in 2017—the initiation of the Julius...
President Samia Suluhu’s New Year address unveils a robust economic strategy with a primary focus on agriculture. The substantial increase in the agricultural budget from TZS 751 billion to TZS 970 billion signifies a determined effort to fortify the backbone of Tanzania’s economy. The expressed goal of achieving a 10% annual growth rate in the...
In a momentous development, key players in Tanzania’s economy are expressing optimism about the imminent operation of the Julius Nyerere Hydroelectric Power Plant (JNHPP). This project is anticipated to become a catalyst for industrial growth and trade promotion in the region. Deputy Prime Minister and Minister for Energy, Dr. Doto Biteko, recently declared that the...
The Rural Water and Sanitation Agency (RUWASA) in Geita Region is taking decisive steps to combat water scarcity by recently signing five contracts totaling 4.9 billion TZS. The projects, presented by RUWASA’s Geita Regional Manager, Engineer Jabiri Kayilla, include the purchase of water pipes and the construction of essential water infrastructure. Two contracts, valued at...
In October 2023, Tanzania experienced a reduction in its current account deficit, which decreased to $3.26 billion compared to the previous year’s figure of $4.99 billion. This positive development was attributed to heightened earnings from seasonal tourism activities and traditional exports, as reported by the Central Bank. The Monthly Economic Review for November 2023 from...
In a data-driven analysis of Tanzania’s insurance sector, the surge witnessed in recent times can be dissected through the lens of specific initiatives championed by President Samia Suluhu’s administration. Gross Written Premiums (GWP) Growth The standout metric showcasing the industry’s robust health is the Gross Written Premiums (GWP). From TZS 911.5 billion in 2021, the...
President Samia Suluhu’s recent address at COP28 in Dubai has reverberated with urgency, underscoring the critical need for concrete action on climate change. This in-depth analysis delves into the nuances of her speech, examining the President’s dynamic tone, concerns, and the resounding call to unite, act, and deliver on the global stage. The Tanzanian leader’s...
In a strategic move, Tembo Gold Corporation has unveiled plans to undergo a significant rebranding, transitioning into Lake Victoria Gold Ltd, pending regulatory approvals. The decision stems from the company’s newfound position in the highly prospective Lake Victoria Greenstone Belt and recent acquisitions that have propelled it into a new phase of growth. The acquisition...
In a swift and decisive move, President Samia Suluhu has officially sacked Deputy Minister for Justice and Constitutional Affairs, Pauline Gekul, following disturbing allegations of torture. The State House Press released a statement today, confirming the expulsion of Gekul from her position in the government. The decision comes in response to serious accusations made by...
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....