The EconomicPost

  By: Esmarie Swanepoel Creamer Media Senior Deputy Editor: Australasia PERTH (miningweekly.com) – A number of Australian juniors operating in Tanzania have emerged from the rubble of the recent legislative changes, largely unscathed. Several Tanzania-focused companies resumed share trading on the ASX on Friday, telling shareholders that the legislative changes passed by the Tanzanian Parliament earlier this week would not have any significant impact on operations.

Dar es Salaam: The Prime Minister of Tanzania, His Excellency Kassim Majaliwa officially graced the inauguration of His Highness The Aga Khan’s Diamond Jubilee with the Shia Imami Ismaili Council for Tanzania. At the Diamond Jubilee grounds in Upanga, Dar es Salaam, Prime Minister Majiliwa officially revealed the Diamond Jubilee motif to the Tanzanian public.

Gouvieux, France: His Highness the Aga Khan will mark his Diamond Jubilee, or 60th year as the 49th hereditary Imam (spiritual leader) of the world’s Shia Ismaili Muslims.  This worldwide celebration brings together the global Ismaili community, partners of the Aga Khan Development Network (AKDN), and government and faith community leaders in over 25 countries.11 July begins a year of milestone announcements by the Aga Khan for a global commitment to partnerships based on the principles of ethics in action, peace and pluralism. His Highness Aga Khan Over the past six decades, the Aga Khan has transformed the quality of life for millions of people around the world. In the areas of health, education, cultural revitalisation, and economic empowerment, he has worked to inspire excellence and improve living conditions and opportunities in some of the world’s most remote and troubled regions. In Islam’s ethical tradition, religious leaders not only interpret the faith but also have...

The global economy is projected to increase to 3.5 percent in 2017 and 3.6 percent in 2018, compared with 3.1 percent in 2016, supported by a rebound in growth in the advanced and emerging market economies . 

The quality of the banking sector’s assets in Tanzania deteriorated after the ratio of non-performing loans to gross loans (NPLs), recorded an increase of 2.6 per cent to 10.8 percent at the end of April 2017 from 8.2 percent recorded at the end of April 2016. The Bank of Tanzania monetary policy statement for June has said the central bank has continued to implement prudential measures to strengthen risk management practices in the financial sector and has directed banks with high NPL ratios to formulate and implement strategies to bring the ratio to at most 5 percent, and encouraged them to increase use of the existing credit reference system to reduce risks. The central bank has also directed banks to maintain capital conservation buffer and implement capital charge over operational risk, with effect from August 2017. During the period under review, clearing, payment and settlement systems continued to operate efficiently with general increase in access and usage. The stateme...

Tanzania External debt stock increased by 3.4 percent to USD 17,802.6 million at the end of April 2017, from USD 17,222.8 million recorded at the end of June 2016. The Bank of Tanzania Monetary Policy Statement for June 2017 has said out of total external debt stock, 80.3 percent was public debt. 

PERTH (miningweekly.com) – Graphite developer Walkabout Resources on Thursday told shareholders that it would review the definitive feasibility study (DFS) results for its Lindi Jumbo project , to assess the impact of the Tanzanian government’s legislative changes on the project economics.

Na Elias Mhegera Mjadala mkubwa unaoendelea nchini Tanzania kwa sasa ni kuhusu yaliyojiri kuhusiana na ‘mchanga’ wa dhahabu au ‘makinikia’ na pia athari zake baadaye kisiasa na kisheria pia. Watanzania wamechachamaa kwa hamasa kubwa, wakiwashambulia wabunge wao kwa kuruhusu mambo ya aina hii yaendelee kwa muda mrefu kwa sababu za kulindana na kutumia wingi wa wale waliokuwa wanaunga mkono. Wadau mbali mbali wanapendekeza kwamba mikataba yote ya madini ijadiliwe upya. Lakini pia wanataka sheria za mikataba zizingatiwe ili taifa ingie matatani na wawekezaji Wananchi kwa ujumla wanaona kwamba kuna miswaada ilipitishwa kwa hati ya dharura ka malengo mabaya. Na haya yote yaliwezekana kwa sababu ya mfumo mbovu wa kisiasa. Mjadala wa jambo hili ni mpana ipo ya kisheria, na kisiasa pia. Prof. Abdallah Safari ambaye ni wakili wa kujitegemea pamoja na kwamba yeye pia ni makamu mwenyekiti wa Chama cha Demokrasia na Maendeleo (CHADEMA) anasema hili ni janga jingine. Anaiona hofu kwamba uam...

By Mnaku Mbani The Treasury Bills floated by the Bank of Tanzania yesterday were oversubscribed by more than 150 per cent, which indicated an increased investors’ appetite on government debt instruments. According to the auction summary published at the central bank website, a total of Tsh357.2 billion were tendered in all maturities against Tsh139.5 billion on offer.

LONDON: TerraPay, a mobile-first international payment network, today announced that it has successfully obtained regulatory approval from the Bank of Tanzania to launch International Money transfer services to mobile wallets in Tanzania. This is the first-of-its-kind license in Tanzania which allows TerraPay's partners across the world to send money directly to mobile wallets in Tanzania. Furthermore, the company has also been licensed by Tanzania Communications Regulatory Authority for mobile based domestic payments in Tanzania. Through a partnership with Selcom, the leading mobile money aggregator in Tanzania, TerraPay can send money to all the prominent mobile wallets in Tanzania.

By Mnaku Mbani Tanzanian economy grew by 6.2 percent, in the third quarter of 2016 compared with 7.3 percent in the corresponding quarter in 2015, the quarterly economic bulletin for the fourth quarter of last year published by the Bank of Tanzania has said.

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.