Business

Tanzania ships abroad processed forestry products like the Engineered Wood Products, including plywood, marine boards and laminated boards.

High Commissioner of India in Tanzania Binaya Pardhan revealed that the trade between Mumbai and Dar-Es-salaam has reached USD 6.4 billion as of 2023.

Head of State, Samia Suluhu Hassan points out that her government pumps more than USD 30 billion to fund a number of public enterprises yet many of them remain non-productive burdens to the country.

According to the head of state, the government has invested over 73 trillion/- in the public enterprises and other state-run institutions and it was their expectation that the funds should yield massive returns in profits.

However, despite wars and pandemics, the domestic economy remains stable, with recent growth in Tanzania Mainland and Zanzibar ranging from 4.7 percent to 5.4 percent.

During the second phase, the company will also invest 11 billion/- in constructing a total of 90 residential building at Mikocheni in Dar-es-salaam.

Reports from the Tanzania Mining Commission reveal that the value of extracted coal is valued at around USD 211 Million per year.

The Umbrella Guarantee Facility (UGF) also known as Tradeclear, is a systemic approach to reducing counterparty credit risk in the market, the key challenge behind market segmentation

However, the Bank of Tanzania (BoT) says it is adopting a ‘phased, cautious and risk-based,’ approach in the proposed adoption of a Central Bank Digital Currency (CBDC)

Those shiny bank corridors and their pesky restless tellers seem to be scaring majority of Tanzanians from accessing formal financial services.