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Stock Market / Finance in Tanzania

  • World Bank approves $345 million loan for Tanzania port expansion

    TANZANIA, 2017/07/19 The World Bank said on Sunday it had approved a $345 million loan for the expansion of a port in Tanzania's commercial capital Dar es Salaam, which the East African country aims to turn into a regional gateway. Dar es Salaam is vying with the port of Mombasa in Kenya to become the trade hub for landlocked neighbours such as Zambia, Rwanda, Malawi, Burundi, Uganda and the Democratic Republic of the Congo, but both ports are hobbled by congestion and inefficiency.
  • Tanzanians need to reform taxation and embrace it

    TANZANIA, 2017/05/04 The Tanzanian government has promised to ensure that Dodoma becomes the country's fully-fledged capital by 2020. There is no better time to reform the tax system, says Anaclet Rwegayura. There is a great transaction of coming and going around Tanzania's new capital, Dodoma, as the once sleepy railroad and highway interchange town becomes full of noise and bustle. Civil servants and their families from the former administrative capital, Dar es Salaam, are making haste to settle down in their new surroundings. Following in their wake are enterprising street vendors, probably as well from Dar es Salaam, who compete for space on the thoroughfares to display their consumer merchandise. Their goal must be to catch part of the clientele moving to the new capital.
  • Microinsurance penetration set to increase in Tanzania

    TANZANIA, 2017/04/18 Tanzania’s microinsurers are benefitting from strong increase – often in collaboration with mobile companies – with recent pro-consumer reforms expected to support further take-up and expand insurance penetration. In March Jamii, a local start-up offering micro-health insurance services, announced ambitious plans to expand into East and Central Africa this year. Launched in January 2015, Jamii is a mobile policy-management platform that performs the administrative activities of an insurer, while as well providing access to low-cost insurance policies ordered on mobile phones using “quick codes” (formally known as unstructured supplementary service data, or USSD, codes).
  • Introduction of VAT hurts business

    TANZANIA, 2016/09/06 The Tanzania Ports Authority (TPA) said on Saturday the recent introduction of the Price Added Tax (VAT) on transit goods and the single customs territory have decreased business at the Dar es Salaam port by 42 % since July. Deusdedit Kakoko, TPA Director General, said the port was presently trying to lure back traders, particularly from the Democratic Republic of Congo who shunned the port following the introduction of the two services.
  • President Magufuli delivers a speech during his swearing-in ceremony in Dar Es Salaam

    TANZANIA, 2016/05/22 Tanzanian lawmakers have gathered in the capital Dodoma to debate the initial budget of President John Magufuli’s government. It contains a 13 % increase in funding for development projects that will be paid for through tax rises and spending cuts in other areas, the country’s data minister tells us. “People have a lot of expectations because this is the budget where the government will start implementing whatever has been promised in the election manifesto,” said Data Minister Nape Nnauye.
  • Tanzania: DSE Named Africa's Best Performing Bourse

    TANZANIA, 2015/01/02 THE Dar es Salaam Stock Exchange (DSE) has been declared as the best performing bourse in Africa in 2014, in terms of increase of its market capitalisation. Analysts reported that DSE's total market capitalisation registered a increase of 40 %, while domestic stocks grew by 66 % during the year, becoming the best performer on the continent. The DSE Chief Executive Officer, Mr Moremi Marwa, said the results were according to surveys by three globally reputed financial media houses -- Bloomberg, Thomson-Reuters and CBS.
  • Essential Commodity Prices Remain Stable in Isles (zanzibar)

    TANZANIA, 2014/02/23 Members of the business community in Zanzibar have been hailed for avoiding unnecessary hiking of prices of essential commodities, particularly foodstuffs, last year. "It was a good year for the people in Zanzibar as far as commodity price increase is concerned. We managed to keep the prices stable, and for that I thank the traders," said the Second Vice-President, Mr Seif Ali Iddi, in Zanzibar. He said that the three major items -- sugar, rice and wheat flour -- remained stable at retail and wholesale markets and that members of the business community as well deserved a pat on the back for that.
  • Bank of Tanzania Suceeds to Tame Inflation

    TANZANIA, 2013/01/28 THE fall of inflation rate has been one of the success stories that the Bank of Tanzania (BoT) has recorded largely due to the application of both fiscal and monetary policies. There has been a general concern from the public over the fall of consumers' purchasing power largely due to higher prices of goods and services.