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...
According to a United Nations report, Tanzania is projected to be the third fastest-growing economy in Africa in 2023 with a growth rate of 5.6 percent, following Cote d’Ivoire and Rwanda. Cote d’Ivoire, the world’s largest producer of cocoa, is expected to register a growth rate of 6.5 percent due to successful technology-driven transformation and...
President Samia Suluhu Hassan announced that maternal deaths among mothers have decreased from 530 maternal deaths per 100,000 live births in 2015/2016 to 104 maternal deaths per 100,000 live births in 2022. She made these remarks on October 28, 2028, during the launch of the Maternal and Child Health Research Report and Malaria Indicators in...
The President of the United Republic of Tanzania, Samia Suluhu Hassan, attended the Doha International Horticulture Expo 2023 in Qatar, which is set to run from October 2, 2023, to March 28, 2024. This visit is part of President Samia Suluhu’s ongoing efforts to open up Tanzania to economic diplomacy, fostering opportunities for local producers...
Making history Tanzania is making a historical leap for her economy, where, for the first time in 62 years of independence, the Central Bank of Tanzania (BOT), has opened a gold reserve that will be purchasing gold locally from local miners. Now, the country will not only rely on foreign currency reserves, as it has...
Today marks a momentous occasion for Tanzania’s investment sector and industrial development. The persistent efforts to attract investors to the industrial sector have borne fruit, as numerous industrial ventures have flourished within the nation. In the coastal region of Pwani, statistics reveal the presence of at least 1,525 industrial establishments of varying significance. Moreover, as...
Raff Military Textile, a prominent player in Turkey’s defence industry, has set its sights on expanding into the Tanzanian market, according to General Manager Eray Yükseloğlu. This strategic move was revealed during the Turkey-Tanzania Trade Delegation and B2B meetings hosted in Dar es Salaam, where business leaders from both nations converged. Yükseloğlu underscored the significance...