India plays a crucial role for Tanzania to realize her industrialisation agenda as Indian companies boost investments in industries, cabinet ministers said on Tuesday.   Tanzania envisions becoming a middle income country by the year 2025 and the government wants the industrial sector - which currently contributes roughly eight per cent to the country's gross domestic product (GDP) - to put in 15 per cent to the economy by the year.... Read more »

Posted on : Thursday , 18th August 2016

Arusha — As Tanzania treads its path to industrialisation, social security funds have been urged to invest in industries.   The minister of State in the Prime Minister's Office (Policy, Parliament, Labour, Employment, Youth and the Disabled), Ms Jenista Mhagama, says industrialisation forms a fundamental linchpin to the fifth phase government's plans for the country's economic transformation   Ms Mhagama said this on Monday.... Read more »

Posted on : Thursday , 18th August 2016

Africa should prioritise trade and industrial sectors to address most of the prevailing challenges the continent faces, including the high rate of unemployment, to ensure sustainable development, Fatima Haram Acyl, the African Union (AU) commissioner for trade and industry, has said.   "While everyone should work to ensure peace, food security, and creating more jobs for the youth, I believe all these can happen if we invest in trade.... Read more »

Posted on : Monday , 18th July 2016

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