Tanzania is the second largest economy in the East African Community and the twelfth largest in Africa with a Gross Domestic Product (GDP) of $33.23 billion.
According to the African Economic Outlook, Tanzania continues to enjoy strong export growth and diversification from traditional markets and products, but it remains significantly reliant on primary commodity exports. Manufacturing exports have grown significantly over the past decade, and export markets have been diversified. Industry accounts for about 25% of GDP; the most important industrial sub-sectors is manufacturing, with a GDP share of about 10%.
Tanzania is ranked 145th out of 189 economies in the World Bank’s Doing Business 2014. The report notes that the aggregate score decreased by nine points compared to 2013, due to deterioration in all the sub-indicators. Positive reforms implemented in 2014 made it easier to resolve insolvency. Tanzania improved its credit information system through new regulations that provide for the licensing of credit reference bureaus and outlines the functions of the credit reference data bank.
The top three business environment constraints experienced by private sector firms in Tanzania include access to finance, electricity, and tax rates. As reported by the World Bank’s Enterprise Surveys 2013 data, the value of collateral needed for a loan or line of credit (as a percentage of the loan value) amounts to 263.8, compared to 171.0 in the region, and 189.4 in all countries surveyed.
United Nations Conference on Trade and Development STATS.
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Published on February 13, 2017
Over 200 innovators, researchers and individuals from Tanzania, Kenya, Uganda, Rwanda and Burundi are expected to showcase technologies to curb post-harvest food losses in Nairobi, Kenya on May.
The Inter Region Economic Network (IREN), Chief Executive Officer (CEO), James Shikwati said the exhibition has been organised to address challenges in the post-harvest management of food-crop commodities and enhance labor.
The competition will enable organisers to identify a range of technologies to ultimately mitigate post-harvest losses in East Africa. Read more. Source | Daily News
Published on January 27, 2017
The Tanzanian agri hub of Arusha is expecting the arrival of more than 2000 farmers and agri experts this week for the first outdoor, B2B farming expo of its kind as Agritech Expo Tanzania kicks off on Thursday 26 January.
“The Agritech Expo Tanzania team is ready and excited, as are our partners and exhibitors,” says event director Yolanda dos Santos.
She adds: “we look forward to giving all our visitors a great experience at the show. We have an extensive offering, from demonstrations of the latest, innovative technology and farm equipment to crop trials, free interactive training and farmer workshops to professional consultations and loads of networking opportunities. The event promises to be a game changer for the agri sector in Tanzania!” Read more. Source | The Exchange
Published on January 18, 2017
Seizing AGOA Opportunities in East Africa is a production of the USAID East Africa Trade and Investment Hub (The Hub). It highlights the work of the Hub’s Component 3 – Trade Promotion and AGOA, and briefly describes the legislation AGOA.
The trifold also outlines the general steps to follow when exporting to the U.S. under AGOA, and provide information on how to engage with the Hub on issues of trade promotion and AGOA.
Published on January 11, 2017
The introduction of one-stop border posts has been hailed for improving trade among East African Community (EAC) member countries.
The border posts have also made EAC a major economic bloc in Africa, according East African Legislative Assembly (EALA) member and Kenya chapter secretary Judith Pareno.
Ms Pareno made the remarks during an EALA sensitisation forum in Isiolo on Tuesday.
She lauded the assembly for removing trade barriers at border points, saying the changes had resulted in faster and more efficient movement of people and goods. Read more. Source |Daily Nation
Published on January 09, 2017
Small holder farmers can reduce post-harvest losses and improve income by adopting better storage management practices and technologies. According to Food and Agriculture Organisations (FAO) about one third of the food produced globally is lost or wasted representing a loss of 1.3 billion tonnes of food per year.
In Tanzania, results from different research studies demonstrate that farmers lose up to 40 per cent of the harvest through post-harvest losses. It is from this backdrop that the Inter Region Economic Network (IREN) moved up to organise Post-harvest technology congress next year to address and reduce the level of loss that account for more than 30 per cent of the food produced for human consumption.
IREN’s Chief Executive Officer Mr James Shikwati said,
This competition will enable us to identify a range of technologies that have the potential to help the continent confront and counter the huge challenges in postharvest management.
IREN is coordinating the congress in partnership with the USAID East Africa Trade and Investment Hub and Syngenta. Read more. Source | Daily News
Published on January 09, 2017
Yara Tanzania has launched a campaign ‘YaraMila cereal raffle draw’ that will see farmers increase use of fertilizers so as to boost agriculture production and maintain soil fertility.
The campaign, which was launched recently in Mbeya Region is set to take place in 11 villages such as Igawa, Ubaruku, Mbarali estate, Kapunga, Rujewa, Madibira, Mapogoro, Chimala, Nyelegete, Mkunywa and Mahango of Mbeya and Iringa regions”.
Launching the campaign, Mbarali Estate Deputy Director, Ms Tyatawelu Mongo said Yara has been playing a big role in educating farmers on the proper farming methodologies especially on the application of fertilizers. “I must admit, this is a unique way of sharing knowledge with farmers. Read more. Source | Daily News
Published on December 21, 2016
Small and medium enterprises (SMEs) are the soul of Tanzania’s planned industrial revolution, thus must produce quality products.
This was said by the Minster for Industry, Trade and Investment, Mr Charles Mwijage in Dar es Salaam yesterday while opening Mikono Fair Trade Shop in Keko area. “Name any industrial country in the world; the rock bed and biggest contributor to that country’s industrial revolution were the SMEs.
Tanzania will pass through the same historical path,” he said. He said he was satisfied with the quality products produced by SMEs, adding that quality will guarantee them local and foreign markets. He thanked producers who are keen on quality, pledging government’s full support and coo-operation in looking for local and foreign markets for their products. Read more. Source | Daily News
Published on December 20, 2016
Industry, Trade and Investments minister Charles Mwijage has said it was high time Tanzania highlighted its investment opportunities before the international stage in a bid to enhance its business climate.
Mr Mwijage said he has drawn an inspiration from the current branding of Africa as “the next investment destination.’’
Speaking at the signing of a Memorandum of Understanding (MoU) between the Tanzania Investment Centre (TIC) and the Oxford Business Group (OBG), the minister said Tanzania was now better positioned in terms of investments. Read more. Source | The Citizen