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

Dar es Salaam — The formation of a Public-Private Partnership (PPP) Centre is awaiting President John Magufuli's approval.   The facility is expected to increase the pace of attracting investments for rapid industrialisation.   A draft on the formation of the institution has been submitted to the President's Office (Public Service Management).   The assistant director of investments in the Prime Minister's Office, Mr.... Read more »

Posted on : Saturday , 9th April 2016

Vietnamese President Truong Tan Sang arrived in Dar es Salaam on Tuesday. He is visiting Tanzania to further cement ties between the two countries. The reciprocal visit follows former President Jakaya Kikwete's tour of the Southeast Asia nation in October 2014.   Our Staff Writer Chaby Barasa who covered Mr Kikwete's two-day tour in Hanoi, reports... When Mr Truong meets his Tanzanian counterpart Dr John Magufuli (Mr Kikwete's successor).... Read more »

Posted on : Thursday , 10th March 2016

The Kenyan government's approval of the development of a Special Economic Zone (SEZ) in Dongo Kundu, Mombasa, expected to boost job creation and regional trade, has been welcomed by business people.   The Dongo Kundu bypass, which is part of a three-phase plan to decongest the port city of Mombasa, is set for completion in 2018.   Eng. Jean-Baptiste Gasangwa, the Private Sector Federation (PSF) resident representative in Mombasa,.... Read more »

Posted on : Thursday , 25th February 2016

Kenyan President Uhuru Ken-yatta said Sunday the sixth Tokyo International Conference on African Development, which Japan cosponsors with the United Nations and the African Union, will be held in Nairobi on Aug. 27 and 28.   Kenyatta made the announcement at a joint news conference with Katsuyuki Kawai, a special adviser to Prime Minister Shinzo Abe, in the Ethiopian capital of Addis Ababa.   TICAD has been held in Japan every five.... Read more »

Posted on : Wednesday , 24th February 2016