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...
President Samia Suluhu, in her New Year speech, provides insights into Tanzania’s economic strategies, particularly in tax collection and the pivotal production sectors. The announcement of a remarkable 8% increase in tax collection, totalling TZS 22.6 trillion for the fiscal year ending June 2023, signifies a positive trend in revenue generation. This growth aligns with...
President Samia Suluhu’s New Year speech provides a comprehensive overview of Tanzania’s economic landscape, focusing on key aspects that underline the government’s efforts in ensuring stability, growth, and fiscal responsibility. In her address, President Samia highlights the implementation of robust fiscal policies aimed at safeguarding the economy. The emphasis on price stability, growth stimulation, and...
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...
Recently, social media has been ablaze with controversy sparked by a renowned American hunter named Josh, who shared a video showcasing his capture of a giant crocodile in Tanzania. The video, featuring the crocodile suspended from a tree, stirred public outrage, prompting politicians and activists to seek clarification from relevant authorities. This incident highlights many...
Tanzania, represented by the Tanzania Shipping Agency Cooperation (TASAC), has signed a significant contract valued at 1.7 million US dollars with Turkish contractor Loca Muhendislik Gemi Makine Plastik Ve Gida San Tic.L.td.Sti. The contract aims to construct a specialized ambulance boat to address first aid challenges and provide initial treatment for individuals facing difficulties while...
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...
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...
The Tanzanian and Ugandan governments have initiated the Multinational Lake Victoria Maritime Communication and Transport (MLVMCT) project, focusing on physical infrastructure development. Implemented through the Lake Victoria Basin Commission (LVBC) in Ilemela District, Tanzania has allocated a 13,827 square meter land for various purposes, including the installation of the Search and Rescue main Station. Captain...
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...