Browsing: Bank of Tanzania

Bank of Tanzania economy report

The Central Bank of Tanzania (BOT) published the monthly economic review on June 2, 2021, highlighting key economic performance in the country’s different sectors.

Tanzania’s key economic sectors such as exports and imports showed modest performance while inflation remained in tolerable benchmarks.

The East African nation is one of the fastest-growing economies in Africa and it has been on a trajectory to enhance its economy, including advancing to a lower mid-income level, amid uncertainties caused by the global pandemic.

Read: Report Insight: Central bank shows good prospects on Tanzania economy

Various forecasts by different entities including the World Bank (WB) project that Tanzania’s GDP will grow by 4.5 per cent in 2021. However, the global recovery period dictates the fate of its economy.


According to the report, headline inflation continues to be within the country and regional benchmarks in May 2021.

“Twelve-month headline inflation remained at 3.3 per cent …

PaddyTanzaniaLMICArticle Source KenyaTalk

The central bank of Tanzania released the monthly economic review for May 2021 and it has reviewed different sections of the economy with a keen eye.

READ:Tanzania clock’s $3Bn as gold prices soar


In this section of the economy, the report showed that, during April 2021, the headline inflation rate remained low and within the country and regional limits.

“Twelve-month headline inflation was 3.3 per cent in April 2021, almost the same as in the preceding month and the corresponding period of 2020,” the report noted.

However, on a month-to-month basis, headline inflation stood at 0.5 per cent, which is a bit higher than the rate registered in the corresponding period of 2020 inflation is projected “to remain within the targeted band for 2020/21”.

Further, the core inflation showed that the index accounts for the largest share in consumer price index (CPI) stood at 3.5 per cent, which …

Bank of Tanzania economy report

Tanzania economy is projected to grow at 5.6 per cent, the central bank of Tanzania (BoT) revealed during its May 28, 2021, Monetary Policy Committee (MPC).

As Tanzania ascend towards marking a year since upgraded to a low-middle-income country, it has been taking serious steps to revamp its economy, by reshuffling its investment and trading operations.

Unlike 2020 whereas the entire world was battling COVID-19 this year the MPC noted that it was “pleased with good performance of the economy, which is amid global spillover of the adverse impact of the pandemic. Growth is estimated at 4.8 per cent in 2020, lower than the projection of 5.5 per cent, reflecting the adverse impact of the pandemic”

Further, the committee noted that the economy in 2021 will be reinforced by several sectors particularly construction, agriculture and transport and communications activities.

These projects are rather quite far from the African Development Bank …

Zanzibar's presidency

The central bank of Tanzania’s economic bulletin for the quarter ending March 2021, analyzed the economic performance of the Zanzibar-semi autonomous region of Tanzania, which is widely known for its exotic tourism experience and spice farming.

The detailed report brought up interesting issues along the lines of clove production, inflation, public finance, imports, and exports.

READ:How Zanzibar’s presidency 100 days in office cast economic prospects

Clove performance

Zanzibar has marked its spot across the region within clove production over the past decade, hence over the past years, performance in the sub-sector has been dwindling.

According to the bulletin, “There were no cloves procured during the quarter under review due to low global demand, which resulted in a significant decrease in prices. As for seaweeds, 2,770.6 tonnes were procured compared with 2,236.5 tonnes procured in the corresponding period in 2020,” BoT report.

On the side of the aisle, Statista—a world …

Bank of Tanzania economy report

The central bank of Tanzania (BoT) releases the April 2021 monthly economic review and it depicted the economy to fair rather moderately amid the waves of COVID-19 recovery globally.

At the moment, Tanzania economy is projected to grow by 5.7 per cent this year, propelled by public investment and normalization of global trade and investment, according to BoT.


According to the report, inflation remained low and within the benchmarks set forth at both the national regional levels.

“Year-on-year headline inflation eased to 3.2 per cent in March 2021 from 3.3 per cent in the preceding month and 3.4 per cent in the corresponding period in 2020, driven mainly by the slowdown in prices of rentals paid by tenants, gas, charcoal, firewood, and transportation cost,” the central bank report said.

Further on the line, on a month-to-month basis, headline inflation stabilized at 0.9 per cent in March 2021 as in …

Central Bank of Tanzania News Central

The central bank of Tanzania (BoT) published its January 2021 monthly economic review report, breaking down several performance aspects of various sectors including exports, imports, as well as the national debt.


On this section of the economy, the central bank report showed the year-on-year headline inflation remained moderate at 3.2 per cent in December 2020, compared to 3 per cent in the earlier month.

The report argued that the changes occurred due to price-driven onto food and non-food items. On the overall basis, the inflation rate was within the regional benchmarks as well as below the country medium-term target of 5.0 per cent.

“On month-to-month headline inflation increased to 0.8 per cent in December 2020 compared to 0.3 per cent in the previous month and 0.6 per cent recorded in the corresponding period in 2019” the report noted.

However, the bank report highlighted that inflation is projected to remain …

Bank of Tanzania - The Exchange (

The Bank of Tanzania (BoT) has reassured customers and stakeholders of the China Commercial Bank Ltd. in Dar es Salaam that their interests are safe and secured.

“We want the public and all stakeholders to know that their money is safe and secure,” said a BoT source (name withheld).

The source went on to state that, as the official press statement from the bank says, all the stakeholders’ interests will be protected.

However, customers will not be able to carry out any transactions for the 3 months’ period that the bank will be closed.

On the morning of 19th November 2020, the central bank of Tanzania (BoT) announced that ‘following of China Commercial Bank Limited to meet regulatory requirements regarding capital adequacy, the Bank of Tanzania has, pursuant to powers conferred to it under Section 56(1)(g)(i) and (iii) of the country’s Banking and Financial Institutions Act 2006, taken over …

tanznaian shillings

Central Bank of Tanzania

Tanzania Central Bank (Bank of Tanzania) has released it’s monthly economic review bulletin for September 2020, earlier this week, which displayed rather a good prospect for Tanzania’s economy.

The bulletin comes within the same week, when the central bank’s Monetary Policy Committee (MPC) affirmed that Tanzania’s economy will grow by 5.5 per cent in 2020, according to information from The Citizen.

Further, the team noted that—the bank’s accommodative monetary policy was being implemented in a fashion that macroeconomic indicator remained positive, despite the impact of coronavirus (COVID-19) on the global economy.

However, the monthly economic review depicted inflation at a lower level, while exports and foreign exchange reserves remained rather adequate.


The report showcased the headline inflation at a stabilized point, standing at 3.3 per cent in August 2020. On a comparison basis, inflation is at a much lower point—than 3.6 per cent in August …

dar es salaam aly.ramji

The monthly economic review produced by the Tanzania central bank (BoT), depicted rather positive prospects of the economy, such as inflation, fuel prices and food stocks, despite the grim grip of the coronavirus (COVID-19), which hurt several sectors of the economy.

The report published on Tuesday, marking the financial year ending June 30, 2020, also displayed good performance of the exports, foreign exchange reserves and interest rates.

Revenue collection

Government budgetary operations took a slight hit, as the domestic revenue collection performed below the target due to the virus grip, standing at almost $559,000.

“However, the collection was higher than in the corresponding %54.4 million and an increase of $ 867.1 million from the end of the preceding month and the corresponding month of 2019, respectively. Much of the external debt stock was central government at 78.2 per cent” the monthly review noted.

Domestic financial markets

According to the central …

Bank of Tanzania, situated in Dar es Salaam. Photo Source: Flickr - The Exchange
Earlier this week, several people forwarded me a link to a recent article published by The Economist, which makes the bold claim that Tanzania’s official economic statistics are bogus.
Among other things, the nameless author (a feature of The Economist is that it has no by-lines) claims that cement sales by the top two firms are “flat,” and bank lending to companies slumped. To quote the article directly:“If Tanzania’s economy grew by almost 7% in the fiscal year to the end of June 2019, why did tax revenue fall by 1%? And why has bank lending to companies slumped? Private data are bad, too. In 2019 sales at the biggest brewer fell by 5%. Sales of cement by the two biggest producers were almost flat. None of these things is likely if growth is storming ahead. The discrepancies are so large that it is hard to avoid the