Tanzania’s TRADE Surplus Across East Africa Rose To $484 Million

ECONOMY: Tanzania’s trade surplus across the East African Community region rose to $484.5 million in 2020, from $343.8 million the previous year, according to latest updated central bank figures. The country also reported a highly-improved trade surplus of $1.09 billion with Southern Africa Development Community (SADC) countries, indicating a further expansion of its sub-Saharan trade […]

Number Of SACCOS Dropped By 638 In Latest BoT Registration

LOCAL NEWS: The number of Savings and Credit Cooperative Societies (Saccos) dropped by 638 in the third quarter of last year. This was after they failed to meet requirements of the microfinance law to register with the central Bank of Tanzania (BoT). According to a new report by BoT, the number of Saccos dropped to […]

Zanzibar Seeks Stakeholders’ Views On Digital Currencies

ECONOMY: The Revolutionary Government of Zanzibar is seeking stakeholders’ views on digital currencies, whose uptake is gaining momentum around the world. Zanzibar’s Minister of State (Economy and Investment), Mr Mudrick Soraga, said the government plans to meet with stakeholders in the third week of this month. “We are seeking views on the matter before deciding […]

Tanzania Will not Fixing Loan Rates, Says Finance Minister

ECONOMY: The Bank of Tanzania (BoT), has no plan to cap loan interest rates, since the country now practices free monetary policy, Finance and Planning minister, Dr Mwigulu Nchemba told reporters on Sunday. Mwigulu Nchemba was speaking in Dodoma where he was presenting his ministry’s success in the past 60 years of independence, where he […]