Browsing: economic policy

Tanzania's Mining Act | Mining in Tanzania | Gold in Tanzania

Tanzania’s Mining Act Amendments: Navigating Future Prospects and Challenges

Industry and Trade
  • Tanzania’s Mining Act, which governs the exploration, extraction, and processing of minerals, is crucial in shaping the industry’s landscape.
  • Since gaining independence, Tanzania’s approach to mining legislation has evolved significantly.
  • The Mining Act in place today in Tanzania was designed to create a conducive environment for mining investments while safeguarding the nation’s interests and promoting sustainable development.

Tanzania’s mining sector is a significant pillar of the economy, contributing to the country’s GDP, employment, and foreign exchange earnings. The Mining Act, which governs the exploration, extraction, and processing of minerals, is crucial in shaping the industry’s landscape.

Over time, evolving challenges and the dynamic global mining environment have necessitated periodic reviews and amendments to this legislation. The latest proposed bill seeks to amend the Mining Act to address current issues, enhance sector governance, and ensure the sustainable development of Tanzania’s mineral resources.

Historical Context and Evolution of Mining Legislation in Tanzania

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Zimbabwe economic policy, scorched earth approach not sustainable

Zimbabwe scorched earth economic policy approach unsustainable

Countries

Because of erratic economic policy, Zimbabwe continues to be the sick man of the Southern African Development Community (SADC) region.

The country perennially goes from one economic crisis to the next. Presently Zimbabwe is battling with resurgent inflation after managing to rein it in from the hyperinflationary levels reached in the years 2019 to 2020 and during the early months of 2021, peaking at over 837%.

Currently, Zimbabwe’s inflation stands at approximately 257%. Conventionally, the origins of inflation have been and always will be excessive money supply that outstrips the rate of growth in an economy resulting in too much money chasing too few goods and services. In the case of Zimbabwe, the inflation malaise was compounded by the fact that the economy is virtually stagnant, growing only marginally.

  • Zimbabwe’s economic policy has been erratic.
  • The government in Zimbabwe has recently adopted a scorched earth policy against inflation by tightening
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