Tanzania - The Citizen - Business News

Continue investing in TZ, Huawei told

Details >Tanzania’s President Jakaya Kikwete has urged Huawei Technologies to continue its investment in Tanzania’s information and communication technology to help innovate and develop the local ICT industry....

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Local input in railways trade missing

Details >Tanzania Private Sector Foundation (TPSF) has raised alarm that lack of participation of  local players in running the railway business was largely due to corruption....

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300 mid-sized firms expected in survey

Details The Top 100 Mid-sized Companies Survey has entered the fourth phase with increased participation of upcountry businesses by 30 per cent....

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TZ ranking up in attracting businesses

Details Tanzania has improved 14 places in the World Bank’s ease of doing business, becom ing the second most attractive in the region after Rwanda....

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Expert: Improve services for tourists

Details Tanzania’s tourism is growing at a remarkable rate, but more efforts are needed to improve service delivery to tourists, says an expert....

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4 companies launch initiatives to help check Ebola spread

Details >Airtel, IBM Research Africa and Kenya’s Echo Mobile have joined forces to launch several initiatives to help curb the spread of Ebola in West Africa....

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US official’s Dar visit focuses on economic growth

Details >The US Treasury Secretary Jacob Lew starts a tour of Tanzania  to discuss various issues with government and business officials....

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Ministry seeks private sector investments in water projects

Details >The government is seeking private sector support to expand investments in the water sector in line with implementation of the second phase of the Water Sector Development Programme (WSDPII)....

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Govt gets tough on power connection

Details >The government has issued a directive to Tanzania Electric Supply Company (Tanesco) to connect customers applying for electricity services within a day....

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Company boosts smallholders

Details Benedict Mwasyika (not his real name) is a dejected man. He is disappointed because for a third year running he has not been able to get what is worth he has invested in his paddy farm. Like many other residents of Mbarali District in Mbeya Region, Mr Mwasyika, depends on paddy farming....

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State moves to aid textile development

Details >The government has established the Textile Development Unit (TDU) within the ministry of Industry and Trade aimed to specifically support investors at every stage of investment process....

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Stanbic eyes deal linked to $20bn gas credit funds

Details >Stanbic Bank is set to earn multibillion shillings revenue through training local investors on how to benefit from credit funds connected with a project for development of Liquefied Natural Gas (LNG) worth more than $20 billion (Sh34 trillion)....

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Govt papers now for all investors: BoT

Details >Tanzania plans to allow investors from all over the world to participate in government securities without any restrictions starting next year, the Bank of Tanzania has said....

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Precision renews global operational safety certification

Details  The International Air Transport Association (Iata) has once again certified Precision Air’s operational management and control systems....

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Bank assets up 30pc

Details Assets of Bank M Tanzania increased by 30 per cent to Sh600 billion in the third quarter of this year compared with the value in a similar period last year....

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Bank’s IPO issue Nov 3

Details Mkombozi Commercial Bank is planning to raise Sh5 billion through its initial public offering (IPO) early next month....

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Dollar crunch weakens shilling further

Details A dollar crunch has seriously depreciated the shilling.While indicative exchange rate by the Bank of Tanzania (BoT) was capped at Sh1,682.99 on Monday, for instance, commercial banks exchanged among themselves by up to Sh1,701 per dollar, the highest since the beginning of the year, the central bank figures show....

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Indian Navy designs Dar port maps

Details Indian Navy has designed geographical charts of Dar es Salaam Port to guide international sailors and captains for facilitating safe anchoring at the harbour....

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Local content gas policy ready 2015

Details Tanzania expects to have its oil and gas local content policy approved by the end of June next year, the government has confirmed....

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MARKET DATA REVIEW: Dar bourse’s weekly turnover increases by 63 per cent

Details >The Dar es Salaam Stock Exchange (DSE) continued to gain last week, with a weekly turnover increase of 63 per cent....

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Uganda’s policy to manage oil wealth nears completion

Details >The World Bank and Ugandan government are in final stages of producing a new working document (Country Economic Memorandum) to guide planners and policy makers on how to manage oil and gas revenues in a way that benefits society as a whole....

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No EAC investor bought securities: bank

Details >No investor from the East African countries has started buying government securities since the regulator lifted curbs on them in May, the Bank of Tanzania (BoT) announced yesterday....

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Building accidents blamed on blocks

Details Mushrooming of sub-standard cement blocks have been fueling construction accidents in the city, especially several incidents of falling towers....

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Lions International injects Sh20bn for vaccination campaign

Details The Lions Clubs International (LCI) has injected a total of $12 million (about Sh20 billion) in support of the ongoing measles-rubella vaccination campaign, the international organization has announced....

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Airtel Tanzania subscribers continue to enjoy 4 pc offer on Luku purchases

Details Airtel customers across the country have continued to enjoy an offer of 4 per cent upon the purchase of Luku through Airtel Money Service....

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‘Rapid bus’ infrastructure vandalised

Details The rising vandalism on the newly installed materials for the Bus Rapid Transport (BRT) in the city has prompted the government to look for the lasting solution by involving public information officers....

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Precision Air, Jovago in new partnership

Details Precision Air (PW) and Africa’s hotel booking website -- Jovago.com – have struck a partnership deal that enables the airline’s passengers to pick hotels of their choice right from its (PW’s) website....

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Another recession ‘most likely’

Details The global economy faces its biggest test of confidence since the European sovereign debt crisis as investors fear it’s running out of engines. Japan and the euro area are throwing up fresh signs of weakness by the day and emerging markets such as China are dragging instead of driving growth....

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Why we won’t fly four routes: ATCL

Details >Air Tanzania yesterday announced suspension of flights to four domestic destinations for six days as its aircraft goes for scheduled maintenance....

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Kenyan paint manufacturer expands business to Tanzania

Details >Kenyan paint manufacturer, Crown Paints Group has extended business to Tanzania with plans to establish a giant factory in Dar es Salaam that will feed both local and export markets....

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LAPF aims at having Sh1tr value next year

Details The Local Authorities Pensions Fund (LAPF) is targeting to have a value of Sh1 trillion in the next one year....

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Mobile initiative seeks to boost productivity for farmers

Details The Connected Farmer Alliance (CFA) — a public-private partnership for Vodafone Group, the US Agency for International Development (Usaid) and TechnoServe — has announced its first commercial agreement on the use of mobile technology to increase the productivity of low-income farmers in Tanzania....

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Firms can buy Internet services from us: TTCL

Details Two companies have partnered to provide Internet services to their providers in Tanzania....

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Interbank rates double as illiquidity bites in market

Details >Interbank rates, the lending rates at which commercial banks borrow from each other, more than doubled in two weeks as bankers cite the shortage of cash in circulation....

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Anti-tobacco meet in Moscow aims to bolster taxes

Details >A major anti-tobacco conference opened in Moscow on Monday aimed at agreeing higher taxes on cigarettes, a move being fiercely opposed by the tobacco industry....

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Investor expands land area in Moro

Details >Obtala Resources continues to expand its agricultural operations in Morogoro - revealing it had taken a lease on a chunk of agricultural land there, aiming to plant orchards that could save it $1mln a year....

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National airline set to return after Air Uganda exit

Details >The government is working on a plan to revive the national airline following Air Uganda’s board decision not to return to the skies, according to the Director of Transport at the Ministry of Works and Transport, Mr Godfrey O. Wandera....

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Kiwira needs over Sh736 billion just for take-off

Details >The State Mining Corporation (Stamico) is in dire need of at least $460 million (Sh736 billion) to accomplish the task of commencing coal production and electricity generation at Kiwira Coal Mine....

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New bank eyes rural customers

Details It was all cheers as VisionFund Tanzania, a new banking facility, was officially inaugurated in Arusha the other week with prospects that it would boost small businesses and reach out to rural farmers....

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Plea for funds to tackle harmful fishing

Details Insufficient funds and unreliable transport have been hampering a fight against illegal fishing in Lake Victoria, the Fisheries Department in Ukerewe District, Mwanza Region, has said....

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Farmers in Mufindi reject Minjingu fertiliser

Details Farmers in Mufindi District, Iringa Region have refused to use Minjingu fertiliser claiming that it was not compatible with the type of soil in their district....

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How to buy house on registered land

Details Excited to buy a new home? It is a good feeling to have a brand new place that you can call home and you happen to be the legal owner. You want to build a house, which has got your taste and style and a place, where your family can enjoy living and be secure!...

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Too much salt use raises health risks, says expert

Details Salt is an essential element needed in a diet. In its moderation, salt is very important, but can adversely harm one’s health if not taken appropriately....

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Govt asked to identify Tanesco’s ‘no-go zones’

Details >One of the four firms that won Obama’s Power Africa award on Wednesday has urged the government to clearly identify villages where the country’s power utility cannot go so that private suppliers strategise the areas....

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Government to revive postal policy

Details >The government is planning to revive the National Postal Policy to catch up with changing environment and competition posed by technological advancement....

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Annual inflation decreases to 6.6pc

Details Tanzania annual inflation rate slowed to 6.6 per cent from 6.7 per cent recorded in August as some food and non-food commodities recorded price decrease in the market....

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We’ll close two tobacco factories in Europe: Firm

Details  Japan Tobacco said it may close two European factories and cut production by a third in a move that could see about 1,100 layoffs, citing a “challenging operating environment”....

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Sh660m won for lighting up rural Tanzania

Details Tanzania’s rural electrification efforts received a major boost yesterday after four companies won a total of $400,000 (Sh660 million) to initiate off-grid power solutions....

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Bank gives Sh25 billion mortgage loans in TZ

Details >Sh25 billion has been offered to Tanzanians as mortgage loans by Commercial Bank of Africa (CBA) since 2007....

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New airline to start operations late this year

Details >SAX-Tanzania, the new airline established in Tanzania, is making final preparations to commence flights late this year, subject to receiving regulatory approvals from the Tanzania Civil Aviation Authority....

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