The Dar es Salaam port is beginning to show early signs of improvement in efficiency, just a few weeks after global ports giant DP World began operating some of the berths at the port. “STS (ship to shore cranes) are now operating for the first time at the Dar es Salaam port after DP World...
Tanzania has taken the helm as chair of the Africa Union’s Peace and Security Council (AU-PSC), committing to collaborate with African nations to promote security and peace. In a statement released by the Ministry of Foreign Affairs and East African Cooperation, Tanzania pledges to fulfill its leadership role during its one-month tenure, which began on...
Na Isaya Madego, safarini Marekani. Jana na usiku wa kuamkia leo Mange Kimambi amechapisha maandiko mawili ya kumtukana Rais Samia Suluhu. Wako waliomsifia kwenye sehemu ya maoni ya maandiko hayo wengi wakitumia majina ya kificho lakini wako wengi waliomkemea kwa kukosa staha. Wengine wamekwenda mbali zaidi na kusema huenda Mange amenunuliwa na wabaya wa Rais...
The adoption of a new monetary policy in Tanzania signifies a shift towards an interest rate-based framework aimed at maintaining price stability and supporting sustainable economic growth. The Bank of Tanzania (BoT) announced this change, emphasizing its alignment with international best practices and commitment to harmonizing monetary policy frameworks within the East African Community and...
Tanzania is making a significant shift from a reserve money policy to a short-term interest rates policy next month after a decade of preparations. The Monetary Policy Committee (MPC) has approved this move to control inflation using interest rates, aligning with global practices. The new policy, focusing on short-term interest rates, is a departure from...
A total of 118 people have lost their lives, with 580 others injured following an earthquake that occurred overnight on Tuesday, December 19, 2023, in China. According to Reuters, the earthquake, measuring 6.2 on the Richter scale, struck the mountainous region on the northern edge of the Qinghai-Tibet Plateau. Rescue efforts have been challenging due...
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...
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...
Tanzania has demonstrated robust economic growth in the first and second quarters of this year, with a growth rate of 5.4 percent and 5.2 percent, respectively. According to the Monetary Policy Committee (MPC) Meeting Statement released by the Central Bank, this growth is expected to reach 5.3 percent by the end of the year. The...