Economy in Tanzania

  • Africa’s Growth: Nobel Laureate Joseph Stiglitz Calls For New Strategy

    BOTSWANA, 2017/10/19 Joseph Stiglitz has advised African nations to adopt coordinated strategy encompassing agriculture, manufacturing, mining, and service sectors to attain same success delivered by the old manufacturing export-led strategy. Prof. Stiglitz, an economist and professor at Columbia University, New York, gave the advice at the Babacar Ndiaye lecture series introduced by African Export-Import Bank (Afreximbank) which debuted in Washington D.C.
  • Africa Convergence: Towards Africa's economic growth

    BOTSWANA, 2017/10/05 To surpass the current physical and mental borders which are hindering the development of the African continent, conference the digital challenge to achieve an Integrated and sustainable economy for increase. This was the issue on the schedule of the second Africa Convergence Conference was attended by about 30 speakers from all sectors of activity and about 300 CEOs for an unprecedented dialogue on the next of the continent. As well on the table for discussion was : regional integration, financing, unearthing talents and emerging issues related to the harmonization of economies.
  • Africa’s economic growth in 2016 was driven by East Africa

    BOTSWANA, 2017/08/20 While the continent’s major economies were hit by the fall in commodity prices in 2016, Africa retained its position as the second-fastest growing continent globally recording an average of 2.2% GDP increase, behind only South Asia, according to the African Development Bank Group (AfDB). Much of Africa’s increase in 2016, AfDB says, was driven by East Africa where several nations recorded “strong performances.” In general, of the continent’s sub-regions, East Africa posted the highest increase rate with 5.3%, led by Ethiopia.
  • Global economic gravity rapidly pulling towards Africa

    BOTSWANA, 2017/06/20 The second International Conference on the Emergence of Africa (ICEA) was held in Abidjan, Côte d’Ivoire, in March 2017. Since the initial conference in 2015 — at a time of robust economic increase on the continent — hopes for economic evolution have dimmed because of a crash in the price of commodities, volatile world financial markets and a slowdown in world increase. Before departing New York to attend the second ICEA conference, jointly organised by the World Bank, the African Development Bank and the United Nations Development Programme (UNDP), Assistant Secretary-General of the UN and chief of UNDP’s Regional Bureau for Africa Abdoulaye Mar Dieye sat down for an interview with Africa Renewal’s Kingsley Ighobor to talk about Africa’s economic development opportunities and challenges.
  • Take responsibility for transforming your countries – Akufo-Addo

    BOTSWANA, 2017/06/15 President Nana Addo Dankwa Akufo-Addo has urged African leaders to assume responsibility for the transformation of their economies, and depart from the mindset of aid, dependency and charity. “If we, Africans, are to transform our stagnant, jobless economies, built on the export of raw materials and unrefined goods, to price-added economies that provide jobs, to build strong middle-class societies and lift the mass of our people out of dire poverty, again we must take our destinies into our own hands and assume responsibility for this,” he stated on Monday at the same time as addressing the G-20 Partnership for Africa Summit, currently taking place in Berlin, Germany.
  • Rise of middle class, fact or fiction

    BOTSWANA, 2017/04/26 White-walled tyres on his bike appear to elevate a trendy young man from the lower classes but the question is whether he is contributing towards sustainable economic increase. THE middle classes in the world south have gained growing attention since the turn of the century, mainly through their rapid ascendancy in the Asian emerging economies. A side result of the economic increase during these “fat years” was a relative increase of monetary gain for a growing number of households. This as well benefited some lower gain groups in resource-rich African economies. A lot of part these crossed the defined poverty levels, which were raised in late 2015 from $1.25 (R16) a person a day to $1.90. As some economists had suggested, from as little as $2 they were considered as entering the “middle class”.
  • Data can fuel Africa's economic growth

    BOTSWANA, 2016/11/30 Africa is home to some of the world’s fastest-growing economies and one of the majority promising regions for international investment . This increase could be accelerated by addressing a fixable problem: lack of good data. Reliable, accessible data plays a critical role in any economy. Investors require data before making decisions, and the additional complete and up-to-date the data, the better their willingness to invest. Data as well helps public officials make sound decisions that promote increase and innovation, and enables citizens to hold government and business accountable.
  • This is why, despite challenges, Africa can still rise

    BOTSWANA, 2016/10/04 Is the honeymoon over for African economies? Less than a decade ago, it seemed that the continent’s economic dreams were beginning approaching authentic, with a lot of nations experiencing impressive GDP increase and development. Presently, as the harsh reality of the continent’s vulnerability to challenging external conditions has set in, sustaining that increase has proved difficult. Encumbered by slowing increase in China, a collapse in commodity prices, and adverse spillover from numerous security crises, Africa’s in general annual GDP increase averaged just 3.3% in 2010-2015, barely keeping up with people increase, and down sharply from the 4.9% recorded from 2000 to 2008.
  • Economic growth in sub-Saharan Africa expected to dip further

    ETHIOPIA, 2016/10/04 The World Bank has predicted that economic increase in sub-Saharan Africa is expected to fall further to 1.6% this year, the lowest level in over two decades. The new figures have been outlined in the new Africa’s Pulse statement which is a biannual analysis of economic trends and data for the region. While a lot of nations are showing signs of decline in economic increase rates, some like Ethiopia, Rwanda and Tanzania have recorded an annual increase rate of over 6%. Africa’s Pulse has noted that the sub-Saharan regions economic performance in 2017 will continue varying across nations, while the larger economies and commodity exporters are expected to see a modest increase.
  • Tanzania’s economy is expected to grow by 20 basis points to 7.4 % in 2017.

    TANZANIA, 2016/07/04 Tanzania’s economy is expected to grow by 20 basis points to 7.4 % in 2017. According to the country’s central bank, this increase will be driven by construction, communications and finance. The country is experiencing increased real estate development for residential and non- residential purposes and building of road networks. “Construction has been the major contributor to increase for the completed two years contributing 23.9 % and 18.8 % in 2015 and 2014, respectively,” noted the bank in its monetary policy satement