Browsing: Zanzibar

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.

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The central bank of Tanzania (BoT) released its monthly economic review for April 2021 and it analyzed Zanzibar economy performance rather closely, whereby inflation, government budget operations, imports and exports performance depicted moderate improvement.

Zanzibar is a semi-autonomous region of the United Republic of Tanzania, made up of two main isles Unguja and Pemba. There more than 1.7 million people in the archipelago.

The isles are mainly known for their exotic tourism landscapes and agricultural exports particularly spices.

However, the office of the Chief Government Statistician Zanzibar (OCGS) published an interesting consumer price index for April 2021. The report showed that Zanzibar annual headline inflation rate for the year ended April 2021, increased to 1.9 per cent compared to 1.5 per cent for the year ended March 2021.

Inflation developments in Zanzibar

According to the report, during March 2021, annual headline inflation declined to 1.5 per cent from 5 per …

The new Tanzanian administration under President Samia Suluhu Hassan is leaving nothing to chance just weeks after taking an oath of office, every department is working around the clock not to cross heads with the president who suspended the Director of the country’s port authority over massive embezzlement of public funds.

The ministry of foreign affairs has asked all ambassadors representing the country abroad to explore markets for the Tanzanian products in their respective countries even as it urged them to plan and seek opportunities that will enable various Tanzanian products to secure reliable markets.

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Prof Palamagamba Kabudi, the Minister of Foreign Affairs and East African Cooperation issued this directive, when talking to ambassadors representing Tanzania abroad.

Reiterating on the ruling party’s {CCM} manifesto Kabudi said that there was a need to clearly articulate the economic diplomacy, as well …

Zanzibar, one of the most exotic tourist destinations in East Africa marked 100 days since its newly elected President Hussein Ali Mwinyi assumed positions of power.

The archipelago which is the autonomous region of Tanzania has been developing its efforts to enhance economic performance in the island over the past years. According to information from The Citizen, the 100 days old presidency is yet focused on transforming the country economy.

The presidency came to helms of power after the Zanzibar Vision 2020-2050 emerged to revitalize the archipelago economy particularly tapping into the sustainable utilization of the Indian ocean resources.

President Mwinyi told The Citizen that, the country has short- and long-term plans slated to ensure there are a success, accountability and quick decision making, which are key issues to a prompt acquisition of reforms in the island’s economy.

The economy of Zanzibar is rather dominated by agricultural, whereby most of …

Only a fort night after the collapse of Beit-al-Ajaib or the House of Wonders in Stone Town, Zanzibar, the island’s tourism earnings are reported to be down 38 percent compared to last year.

The report comes from the Bank of Tanzania (BoT) which states that despite the tourism sector racking in a surplus of $62.7 million, however this is still 37.7 percent lower than what it was able to amass during the same period in 2019.

Zanzibar’s economy greatly relies on tourism and historical sites like the House of Wonders are a great attraction for tourists. Now with the building having collapsed during restoration efforts, the island is suffering the effects.

Granted the single event is not the cause for the dropped revenue, which the BoT blames on Covid-19, the loss of such an important site has an impact in the sector.

In its monthly economic review for December, BoT …

The Kilimanjaro mountain scape, Serengeti fascinating landscape, the Ngorongoro conservation magical experience and the spice island exuberant moments in Zanzibar are just a few joyous tourist experiences, one can acquire in real-time when visiting Tanzania.

Nevertheless, this magnificent reality is a product of hard labour and constant update of policies, laws and modus operandi of the tourism industry in Tanzania.

However, over the past couple of years, the competition has spiced up pretty hard and other players are coming into the fold, naming two: Rwanda with its stunning hills scenery—investing millions of dollars to brand their industry (Visit Rwanda) and Uganda’s game viewing.

To say the least, Tanzania has competitors across the East African Community, and it is great—in the name of developing healthy economic pillars, which are driven by sustainable mechanisms to preserve natural resources and unify our regional economies.

The Tanzanian tourism sector contributes nearly 17.5 per cent …

The Tanzanian central bank (Bank of Tanzania – BoT) published a detailed economic bulletin for the quarter ending September 2020, which showed Zanzibar’s economy taking a nosedive contracting by 2 per cent compared to a growth rate of 5.2 per cent in the corresponding quarter in 2019.

Zanzibar—the semi-autonomous region of Tanzania, is taking various measures to enhance economic and trade liberalization that can pave a smooth way for the private sector to get engaged in the local, regional and international arena.…

Zanzibar’s official statistics provider (Office of the Chief Government Statistician – OCGS) has released figures on the performance of the agricultural sector.

The report provided an insight into the country’s performance and impact of different interventions carried out by the Government and other stakeholders to improve the agriculture sector in the country.

According to the National Budget Brief of 2018 organized by OCGS and United Nations Children’s Fund (UNICEF), unequivocally, the share of development spending in the national budget of Zanzibar increased from 17 per cent to 46 per cent between 2013/14 and 2017/18. On the other hand, the share of recurrent budget decreased from 83 per cent to 54 per cent for the same period. for the same period.

The report, on the other hand, gave out crucial sets of data which include: quantities and values of fish catches, cash crops, mining and quarry, seaweeds, forest products and …

Zanzibar’s economic developments have grabbed Bank of Tanzania (BoT)’s attention in its monthly economic review.

According to the study, inflation remained fairly balanced, revenue collection has been gaining substantial raise, while the external sector performance dwindled.

Zanzibar which is a semi-autonomous region of Tanzania, with fertile historical and economic relations with Tanzania, has been taking crucial steps in its economic endeavors, including agriculture and tourism.

According to the 2018 National Budget brief of Zanzibar, prepared by Office of the Chief Government Statistics (OCGS) and United Nations Children’s Fund (UNICEF), Zanzibar has maintained impressive economic growth; government revenues and expenditures are expanding rapidly. In the financial year of 2017/18, the approved budget totals $ 483 million which is a 29 per cent increase in total expenditures in nominal terms (or 26 per cent in real terms).

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Inflation and budgetary operations

Per the …