Uganda, Tanzania to Become Oil Economies

Posted on :Monday , 21st March 2022

Tanzania and Uganda are gearing up to become the region's oil economies with the latter signing a mega oil pipeline deal to transport Uganda's oil to its port of Dar es Salaam.

The East African Community (EAC) is one of the fastest-growing economic blocs in the World. The pre-Covid-19 period saw the Economic Commission for Africa note that East Africa was actually the fastest. . .

Tanzania to Receive EUR 425 million from the European Commission

Posted on :Monday , 21st March 2022

On 18th February 2022, the President of the European Commission (EC) Hon. Ursula Von der Leyen met with Tanzania’s President Hon. Samia Suluhu Hassan on her visit to Belgium.  

After the meeting, Von der Leyen has announced the EC’s support to Tanzania with EUR 425 million to fund various development projects in the country over the . . .

Tanzania Sign USD 1.9B Contract to Build 3rd Phase of SGR Railway

Posted on :Tuesday , 18th January 2022

On 28th December 2021, the President of Tanzania Samia Suluhu Hassan witnessed the signing of the agreement for the construction of the 3rd phase of the Standard Gauge Railway (SGR) connecting Makutupora to Tabora.

The agreement was signed between the Tanzania Railways Corporation (TRC) and Yapi Merkezi of Turkey at a ceremony held at the State House in Dar es Salaam.

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Tanzania Exports Up 13% In YE November 2021, Tourism Income Up 48%

Posted on :Tuesday , 18th January 2022

The Bank of Tanzania (BOT) Monthly Economic Review-December 2021 indicates that in the year ending November 2021 exports of goods and services amounted to US$ 9,789.9 million, higher than US$ 8,614.6 million in the corresponding period in 2020.

The growth was driven by a rise in exports of non-traditional goods, travel receipts and transportation.  

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Tanzania's Recovery Gathers Pace With Increase In Exports

Posted on :Wednesday , 12th January 2022

The economic recovery is gaining momentum as Tanzania has recorded an increase in exports of goods and services, as well as the provision of loans to finance economic activities by the private sector. 

According to the Bank of Tanzania's monthly economic review, exports of goods and services amounted to $9.56 billion in the year to October 31, 2021, higher than the $8.63. . .