Zanzibar President Ali Mohamed Shein said yesterday that Tanzania was now ready for industrial transformation, thanks to positive trends in technological innovation and expertise spearheaded by VETA and SIDO.   The Isles president made the comments at the ongoing Dar es Salaam International Trade Fair (DITF) where he noted that new technologies showcased by Vocational Education and Training Authority and Small Industries Development.... Read more »

Posted on : Thursday , 7th July 2016

Tanzania has enough liquidity to facilitate industrialisation as manifested by recently Dar es Salaam Stock Exchange initial public offer which was oversubscribed by astonishing proportions.   The oversubscription was expected since day one, but not at the said magnitude of almost five times or 377 per cent to rake in 35.77bn/- while the exchange earmarked to raise 8.25bn/-.   The oversubscription has shown that the DSE can be used.... Read more »

Posted on : Wednesday , 22nd June 2016

Tanzania Private Sector Foundation (TPSF) signed a five year Partnership Action Plan (PAP) with Canadian Executive Services Organisation (CESO) for capacity building and creation of awareness to the Foundation and its members for better service delivery.   Speaking to reporters in Dar es Salaam, TPSF Executive Director, Mr Godfrey Simbeye, said that the technical support provided by CESO would be one of the resources envisaged to enhance.... Read more »

Posted on : Tuesday , 21st June 2016

Arusha — Tanzania has started to build its own helicopters in a project that will see the first batch of such choppers taking into the sky sometimes in 2018.   Already, the prototype model, a two-seater aircraft is in its final stages of completion at the Mechanical and Engineering Department of the Arusha Technical College, which runs a fully-fledged factory producing various forms of machinery, including a prototype motor vehicle.... Read more »

Posted on : Tuesday , 21st June 2016

Tanzania is among five African economies whose manufacturing sector are key success stories in Africa after outpacing other countries, which started from similar baselines in 2000, according to the Institute of Chartered Accountants in England and Wales (ICAEW).   ICAEW attributes the growth to various reasons, which vary from country to country, including improved infrastructure, a transparent regime to foreign investment, a more.... Read more »

Posted on : Saturday , 18th June 2016

Dodoma — As part of implementation of the Second Five-Year Development Plan (FYDP II), the government has pledged to provide capital to local investors to establish factories - to realise the industrialisation agenda as stipulated in the plan, the Prime Minister, Mr Kassim Majaliwa, announced here yesterday.   In his address during the official launch of the plan for 2016/2017-2020-2021, which was endorsed by the National Assembly.... Read more »

Posted on : Thursday , 9th June 2016

Dar es Salaam — China Exim Bank has pledged to support 'big projects' that the new government will undertake in the envisaged industrialisation drive.   Ms Zhang Shuo, the banks's deputy director, said Tuesday the Chinese financial institution would provide necessary support to the fifth phase government's economic transformation plans.   It will also back efforts to ensure Tanzania increases employment opportunities by 40.... Read more »

Posted on : Thursday , 9th June 2016

The President's Manufacturer of the Year Awards (PMAYA) has clocked eleven years and so are the industries efficiency, high-tech and competition.   Also PMAYA has widen areas of competition as now there are 17 categories where industries are pitting in three groups -large, medium and small depending on capital, workforce and technology and environmental protection.   The first is manufacturing, assembling and processing industries.... Read more »

Posted on : Thursday , 9th June 2016

As the temperature to industrialise in the country heats up, social security funds are seeing themselves in a position to invest in development of industries as their risks have been mitigated by existing guidelines.   The Social Security Regulatory Authority (SSRA) Director General, Ms Irene Isaka, said in a statement that with the existing investment guidelines, investments in the industries can be in the form of loans, equities,.... Read more »

Posted on : Tuesday , 7th June 2016

President John Magufuli wants the manufacturing sector to control a lion's share of workable population and contribution to the economy in the next four years.   He said in Dar es Salaam yesterday that his government is rallying behind the manufacturing sector and want its share of employment to the society to reach 40 per cent from current 7.3 per cent - while its contribution to GDP reaching 15 per cent by 2020.   "We (at.... Read more »

Posted on : Thursday , 2nd June 2016

PRIME Minister Kassim Majaliwa has said the government is committed to develop industrial sector as a strategy to boost growth and propel Tanzania to join the league of middle income countries.   The Premier told the Oman Minister for Commerce, Dr Ali Masoud Al Sunaidy in Dar es Salaam yesterday that the government was keen to attract private investments to promote industrialization, export and growth in line with the development agenda.... Read more »

Posted on : Saturday , 16th April 2016

The African Export-Import Bank (Afreximbank) is to implement a new strategy aimed at driving industrialisation across Africa and increasing intra-African trade by, at least, 50 per cent in the next five years.   The Afreximbank Intra-African Trade Strategy, approved by the Board of Directors at its quarterly meeting in Johannesburg on Saturday, will see the Bank work with partners to ramp up trade among African countries to $250 billion.... Read more »

Posted on : Wednesday , 13th April 2016