Browsing: Tanzania

Tourism was Tanzania’s leading source of forex—this according to data from the Ministry of Natural Resources and Tourism—but that was only true before the global Covid-19 pandemic hit.

Statistics from the ministry show that the country earned an impressive USD2.5B from the tourism sector in 2019. That was the highest it would rake in before Covid-19 befell the world in 2020.  To date, the future looks grim.

The effect of the global pandemic on Tanzania’s economy in general has been devastating. Consider the fact that earnings from the travel subsector have plummeted by more than half its pre-pandemic earnings.

Tanzania wants to increase export of tobacco.  In its most recent export expansion plans, the government announced it is eyeing markets…

Tanzania—East Africa’s host of the most strategic port (Dar es Salaam Port), anticipates garnering more cargo in the next four…

The oil and gas industry in Africa is yet another profitable sector that can transform the energy and revenue generation of gas-endowed nations and contribute greatly to their economic development. 

According to the global network firm PriceWaterhouseCoopers (PwC), by the end of 2017, Africa had nearly 487.8 trillion cubic feet (Tcf) of proven gas reserves, comprising 7.1 per cent of global proven reserves. 

The central bank of Tanzania (BoT) published its quarterly economic bulletin on Monday 8 February 2021 for the quarter ending…

Tanzania, one of Africa’s fastest-growing economy has taken a deliberate step to increase its 2021/22 financial year budget by 4…

The East African region is primarily agricultural-based with the sector contributing an average of two-thirds of GDP and providing jobs to the majority of citizens. It is a key tax earner for governments and serves as a solid base under which the region’s industries are based. Agribusiness contributes about 25 per cent of Africa’s GDP and a staggering 70 percent of its employment.

Global food demand is expected to increase by somewhere between 59 percent and 98 percent by 2050 as the world population reaches an estimated 9.7 billion.

Most of the region’s countries have an ideal climatic condition for agriculture and mainly rely on rain-fed agriculture. Kenya, the most developed economy in the region which interestingly has a diversified economy more than just agriculture is least endowed in rain-fed agriculture compared to Tanzania, Rwanda, and Uganda.

Absa suffered a major data leak in South Africa and even though the breach did not occur at the bank…

Only a fort night after the collapse of Beit-al-Ajaib or the House of Wonders in Stone Town, Zanzibar, the island’s…

Tanzania central bank last week produced a monthly economic review for December 2020, which depicted rather a range of issues,…