The EconomicPost

By Mnaku Mbani The 13.5 per cent seven year Treasury Bond floated by the Bank of Tanzania on Tuesday was oversubscribed by about 130 per cent, which indicate an increase appetite for government securities. The auction result published by the Bank of Tanzania shows that a total of Tsh166 billion were tendered against an offer of Tsh70.5 billion, which indicated an over subscription of Tsh96.3 billion.

WASHINGTON: The World Bank is forecasting higher prices for industrial commodities principally energy and metals, in 2017 and next year.  The World Bank in its April  Commodity Markets Outlook  is holding steady its crude oil price forecast for this year at $55 per barrel, increasing to an average of $60 per barrel in 2018. Rising oil prices, supported by production cutbacks by Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC states, will allow markets to gradually re-balance. These oil price forecasts are subject to downside risks should the rebound in the U.S. shale oil industry be greater than expected.

GENEVA, NAIROBI - At an event on the eve of World Malaria Day in Nairobi, WHO called today for accelerated scale-up of efforts to prevent malaria and save lives. In sub-Saharan Africa, which shoulders 90% of the global malaria burden, more than 663 million cases have been averted since 2001. Insecticide-treated nets have had the greatest impact, accounting for an estimated 69% of cases prevented through control tools.

BOA-TANZANIA Marketing Manager, Research and Development, Mr. Muganyizi Bisheko By Mnaku Mbani BANK OF AFRICA has launched an exciting savings campaigns dubbed “Weka AkibaUzawadiwe” in all its branches across the country, to celebrate with customers its 10 years of operation and providing quality financial services in Tanzania, while deepening a smart savings culture. The “Weka AkibaUzawadiwe ” campaign includes a cash prize of 3 million each month to the customer with the most savings and will see a total of TZS 9 million awarded to customers over the course of 3 months stating from 3 rd April 2017.

NAIROBI — Chinese engagement is helping create an infrastructure boom across Africa, giving rise to a motley of mega-projects that create jobs and boost economic growth while cushioning an economic slowdown the region faces. In its latest World Economic Outlook released Tuesday, the International Monetary Fund (IMF) forecast the sub-Saharan Africa's economy will only grow 2.6 percent in 2017, well below its global growth forecast of 3.5 percent.

DAR ES SALAAM: In less than eight years, there has been extraordinary progress in bringing the majority of Tanzanians into the mobile money revolution, mostly by adopting an efficient, low-cost mobile money transfer system. Doing more to support the much larger, formal financial system is now critical for the growth of the country’s business sector and its ability to mobilize savings and gain access to affordable credit, according to a new World Bank Group report, “Money Within Reach: Extending Financial Inclusion in Tanzania .”

By Mnaku Mbani The treasury bills floated by the Bank of Tanzania yesterday were oversubscribed by more than 250 per cent, which indicate investors’ appetite on government securities. The TB auction results published by Bank of Tanzania has shown that the government wanted to borrow Tsh139.5 billion but Tsh506.6 billion were tendered.

By Mnaku Mbani The Tanzania annual headline inflation rate for the month of March, 2017 has increased to 6.4% from 5.5% recorded in February, 2017, the National Bureau of Statistics has said in its March report published today.The Annual Headline Inflation Rate for the year ending March, 2017 explains that, the speed of price increase for commodities in the year ending March, 2017 has increased as compared to the speed of price increase recorded for the year ended February, 2017.

Kennedy Komba In Tanzania, access to financial services for the unbanked expanded drastically when convenient and relatively cheaper options became available to receive and send money through simple feature mobile phones.  

NAIROBI: Funding commercial property developments with a mix of hard and local currency provides an innovative mechanism for Africa’s commercial real estate sector, to mitigate currency volatility and liquidity risk says Standard Bank.  Operating across 20 markets in Africa means that Standard Bank is acutely aware of how endemic, persistent and volatile local currencies are - as well as, “just how high the risk is of markets running out of hard currency,” says Gerhard Zeelie, Head, Real Estate Finance, Africa regions for Standard Bank.

By Mnaku Mbani Dar es Salaam region has emerged the dominant region with a leading number of employments in Tanzania, according to the formal sector employment and earnings survey, 2015. Distribution by region shows that Dar es Salaam continued to dominate with the largest share of 30.6 percent, followed by Morogoro with 11.5 percent. The shares of Dar es Salaam and Morogoro regions had decreased from 33.6 and 12.1 percent attained in 2014 respectively.

Adoption of contract farming (CF) is proving to be the best solution to farmers’ constraints in accessing quality cotton inputs.Contract farming can be credited to improving cotton farming looking at of increased cotton farming area, seed uptake, levels of distribution of pesticide and service provision to farmers.