The Tanzanian government is taking various measures to boost the production of sunflowers in order to reduce the country’s reliance on importing edible oil. Dodoma, Singida, and Manyara have been identified as strategic regions for increasing sunflower production. The government’s initiatives include providing farmers with access to quality sunflower seeds and agricultural inputs, such as...
The International Monetary Fund (IMF) Deputy Managing Director Bo Li has commended Tanzania for its commitment to preserving Tanzania’s macroeconomic stability in a challenging global environment adding that the authorities’ swift policy response helped contain inflation and safeguard the economy against spillovers from the war in Ukraine. “I welcomed the authorities’ continued commitment to their...
Zaidi ya wakazi 10, 000 wa Kijiji cha Bugayambelele Kata ya Kizumbi Manispaa ya Shinyanga, wameondokana na adha ya kukosa huduma ya maji baada ya mradi wa maji ya Ziwa Victoria wa Sh270 bilioni kukamilika. Zaidi ya wakazi 10, 000 wa Kijiji cha Bugayambelele Kata ya Kizumbi Manispaa ya Shinyanga, wameondokana na adha ya kukosa...
The UTT AMIS fund’s historic growth of 184.94% over two years reflects a positive economic climate and effective management strategies. The fund’s increase from TZS 539.0 billion to TZS 1.53 trillion between March 2021 and June 2023 highlights its exponential expansion, making it the fastest-growing collective investment scheme in the East African region. The growth...
On June 10, 2023, the Tanzanian government signed and approved the Intergovernmental Agreement (IGA) with Dubai to develop the Dar es Salaam Port. This agreement paved the way for further procedures, including the concession agreement, which would facilitate cooperation between the Tanzania Ports Authority (TPA) and DP World, a multinational logistics company based in Dubai,...
Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest commercial port operator, is on the verge of securing the rights to develop and manage cargo berths at the main port of Dar es Salaam in Tanzania. Reports suggest that billionaire Gautam Adani is emerging from the Hindenburg episode and making his first significant acquisition,...
According to the Iranian envoy, trade between Iran and Tanzania has witnessed significant growth. In the fiscal year 2021/22, Tanzania’s imports from Iran increased by 35 per cent compared to the 2019/20 financial year, amounting to goods worth $35 million (Sh82.25 billion). Conversely, Iran’s exports to Tanzania during the same period reached $95 million (Sh223.25...
In a significant diplomatic move, the Minister of Energy in Tanzania, the Honourable January Makamba, embarked on an official visit to China in response to an invitation from China’s Minister of Energy, Dr Jianhua Zhang of the National Energy Administration. The visit, aimed at strengthening bilateral ties, witnessed fruitful discussions between Minister Makamba and his...
Kenya’s President William Ruto has unveiled an ambitious plan to lease and revitalize five critical ports through a public-private partnership (PPP) worth $1.4 trillion. The initiative aims to enhance the country’s maritime industry and improve competitiveness along the northern corridor. Under the proposal, the Kenya Development Corporation (KDC), a development finance institution, has confirmed that...
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...