Financial Times

James Rugemalira and Harbinder Sethi

These prominent business tycoons behind the infamous Independent Power Tanzania Limited (IPLT) scandal were charged with 350billion/- economic sabotage and money laundering charges at the Kisutu Resident Magistrate’s Court in June 2017.

26Dec 2018
By Financial Times Reporter
Financial Times
UNBAILABLE OFFENCE – One CEO, Akram Aziz, a sibling of business tycoon Rostam Aziz, was released only last week after spending almost two months in jail over allegations of money laundering, which is a much-dreaded criminal charge that has forced several
The wealthy and erstwhile powerful executives have been forced to swap a life of luxury for the confinement and squalour of a jail cell in Dar es Salaam and elsewhere. Some have spent months or...
19Dec 2018
By Financial Times Reporter
Financial Times
RAW CASHEWS earn Tanzania more foreign exchange than tobacco, coffee, cotton, tea, cloves and sisal combined. , The government’s decision to halt raw cashew exports and opt for in-country processing of the crop could lead to a sharp fall in forex earnings until local processing capacity is developed and reliable export markets of cashew kernels are established
According to latest Bank of Tanzania (BoT) data, Tanzania fetched $575 million from exports of raw cashews in the year to October 2018, up from around $340 million a year ago.Cashews earned the...
19Dec 2018
By Financial Times Reporter
Financial Times
The overall balance of payments recorded a deficit of $171.6 million in the year ending October 2018 compared to a surplus of $1,601.8 million a year earlier partly on account of the 51 per cent widening of the current account deficit
According to the Bank of Tanzania (BoT), widening of the current account deficit by nearly 51.6 per cent during the period contributed to deterioration of the October international trade and...
19Dec 2018
By Financial Times Reporter
Financial Times
The latest business to consumer (B2C) e-commerce index by the United Nations Conference on Trade and Development (UNCTAD) ranks 151 countries globally, including 44 African nations, by measuring...

Maasai herders.

19Dec 2018
By Financial Times Reporter
Financial Times
The order was given by the deputy minister for Livestock and Fisheries, Abdallah Ulega, who directed the Kilosa district leadership in collaboration with NARCO’s management to remove the...

President Magufuli shakes hands with Dodoma Regional Commissioner Dr Binilith Mahenge. File photo

19Dec 2018
By Financial Times Reporter
Financial Times
According to the chief government spokesperson and director of the Tanzania Information Services, Dr Hassan Abbasi, all ministries and important supporting entities are now based in Dodoma
According to the initial timetable, the shift to Dodoma was expected to climax in 2019 with the president scheduled to be the last to move. But now he has announced that he will be shifting his base...

Total amount of aircrafts which ATCL will operate when all the new ordered aircrafts are delivered. The fleet include one Bombardier Q-300, the Bombardier Q-400, two Boeing 787-Dreamliners and two A220-300.

19Dec 2018
By Financial Times Reporter
Financial Times
Air Tanzania has ordered two Airbus A220-300 in total, each configured to accommodate 127 passengers.Video clips went viral I social media last week of one of the new ‘birds’ in test...

Brenda Msangi.

19Dec 2018
By Financial Times Reporter
Financial Times
Msangi, who previously served as chief of operations (COO) of CCBRT, takes over from long-serving CEO Erwin Telemans, who has led the Dar es Salaam-based organisation for the past 12 years."...
19Dec 2018
The Guardian Reporter
Financial Times
In response to a Wall Street Journal article claiming that the gold miner was being investigated, Acacia said it "has been in contact with the SFO about allegations of corrupt activities in...

Burundi president Pierre Nkurunziza.

19Dec 2018
By Financial Times Reporter
Financial Times
The crux of the matter is what Nkurunziza claims to be aggression against Burundi by their northern neighbors Rwanda – also an EAC member state.Nkurunziza accuses Rwanda of being behind a coup...
17Dec 2018
Mtapa Wilson
Financial Times
In this interview with Financial Times staff writer MTAPA WILSON, the chief executive officer  of iStore (Tanzania’s only Apple premium reseller), VIPUL SHAH (pictured), offers insight on...

country’s Statistician General, Dr Albina Chuwa.

12Dec 2018
Fumbuka Ng'wanakilala
Financial Times
Economic growth in the January-June 2018 period was driven by manufacturing, construction, transport and communication sectors."The annual headline inflation rate fell to 3.0 per cent in...
12Dec 2018
By Financial Times Reporter
Financial Times
HISTORIC MOMENT - Egypt's Prime Minister Mostafa Madbouly flies to Tanzania to witness the signing of a contract for construction of the mega hydropower dam, which has been awarded to Egyptian construction firm Arab Contractors
President John Magufuli revealed on Monday that the project was expected to cost a staggering 6.5 trillion/-.But reports from Egypt say the actual cost of the project could be as high as $3.6 billion...
12Dec 2018
By Financial Times Reporter
Financial Times
according to the deputy minister for Livestock and Fisheries, Abdallah Ulega. Speaking at a meeting to review the third phase of ‘Operesheni Sangara’ aimed at curbing illegal fishing...

President Kenyatta speaks at the blue economy conference in Nairobi last month. File photo

12Dec 2018
By Financial Times Reporter
Financial Times
By Focus Mauki, FT Correspondentport stakeholders must keep investing in infrastructure development and  implementing friendly maritime policies plus latest technology to enable full automation...
12Dec 2018
By Financial Times Reporter
Financial Times
As an apparel designer, BintiAfrica specializes in the production and sale of ladies clothing, ladies shoes, handbags and other accessories made from African fabrics.BintiAfrica’s products have...
12Dec 2018
By Financial Times Reporter
Financial Times
Under it, the government’s via the Bank of Tanzania (BoT) in conjunction with sectoral players and other stakeholders seeks to raise formal financial inclusion to 75 per cent in the next three...

Nape Nnauye.

12Dec 2018
By Financial Times Reporter
Financial Times
>>Says farmers are needlessly suffering from payment delays
Nnauye, who is a Member of Parliament of the cashew-growing Mtama constituency in Lindi Region representing the ruling Chama Cha Mapinduzi (CCM) party, publicly faulted the government yesterday over...

NBC Limited Managing Director Theobald Sabi (left), outlines the bank’s ambitious five-year strategic plan designed to bring about drastic improvements to its services and products during a press briefing in Dar es Salaam on Monday.

05Dec 2018
By Financial Times Reporter
Financial Times
Speaking to members on the media last Monday, NBC managing director Theobald Sabi said the success of the new strategy will be gauged by any increases in its current dwindling local market share....
05Dec 2018
By Financial Times Reporter
Financial Times
“I went to a supermarket in Kigali and bought cashews. I wanted to see where they come from -- these cashews came from Belgium. , Eighty per cent of what Vietnam processes come from Africa, so the journey of these cashews was from Africa to Vietnam, to Europe, and then back to Africa in a supermarket in Kigali
FAHAD AWADH, co-founder of the YYTZ Agro-Processing factory joins CNBC Africa to discuss sustainable ways to put an end to the crisis. Excerpts...Q: Please tell us a little bit about the current...

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