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...
Tanzania’s foreign currency situation is expected to continue improving, thanks to various factors. Foreign exchange inflows from tourism, export crops, and minerals, along with measures implemented by the Bank of Tanzania (BoT) and the government, contribute to this positive trend. According to the latest statement from the Monetary Policy Committee (MPC) released by the Central...
The Minister of Health, Ummy Mwalimu, has stated that due to the uniqueness of Universal Health Insurance for All, the Ministry of Health, in collaboration with the Ministry of Finance, has proposed various sources of income to sustain the fund. These sources include a portion of revenue from taxes on carbonated beverages, alcoholic drinks, cosmetic...
Africa, often referred to as the “last frontier” for investment, has been capturing the attention of the global business community as the second-most populous continent and home to numerous emerging economies. Africa’s financial markets are becoming increasingly attractive for investors seeking opportunities beyond traditional markets. Over the years, these markets have exhibited impressive progress, making...
The Monetary Policy Committee (MPC) of the Central Bank has reported that the national income of mainland Tanzania has experienced satisfactory growth rates, reaching 5.4% and 5.2% in the first and second quarters, with an expectation of achieving an estimated growth rate of 5.3% for the year 2023. For Zanzibar, there was a remarkable growth...
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...
The East African region is poised for an intense economic race, as projections suggest that Tanzania may overtake Kenya in terms of economic supremacy in the next 10 years. The International Monetary Fund (IMF) estimates that Tanzania’s economy, currently valued at $85.4 billion (Sh200 trillion), is expected to grow to $136 billion by 2028. In...
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...
Tanzania’s current account deficit narrowed to $4.02 billion in August this year compared to $4.26 billion recorded during the preceding month of July, according to the Bank of Tanzania (BoT) Monthly Economic Review for September. “Notwithstanding the shocks, the current account balance has improved, attributed to heightened seasonal earnings from tourism activities,” the Central Bank...
In a watershed moment for African leadership, Dr. Tulia Ackson has clinched victory as the President of the Inter-Parliamentary Union (IPU). This remarkable win not only crowns her distinguished career but stands as a testament to the strength, resilience, and visionary leadership she brings to the global stage. I take pride in noting that I...