Finance ministers from Tanzania and Zanzibar have embarked on fundraising for the standard gauge railway (SGR) project in the wake of the main contractor, Turkish firm Yapi Merkezi, showing signs of financial distress. This has raised concerns of further delays on the first three phases of the 2,100-km railway seen as crucial to place Tanzania
Tanzania is experiencing a 17% rise in petrol prices, leading drivers to spend more money. The situation is attributed to increased costs of importing gasoline and higher price caps on petroleum products, as reported by the Energy and Water Utilities Regulatory Authority (Ewura), caused by the scarcity of US dollars. In August 2023, the prices
In the realm of East Africa’s financial sector, one name stands out as a beacon of innovation and transformative leadership, and that is no other name than Abdulmajid Mussa Nsekela, the Chief Executive Officer (CEO) of CRDB Bank Plc, Tanzania’s largest and most influential banking institution. With an illustrious career spanning two decades, Abdulmajid Mussa
In the world of banking, where financial stability and strategic decision-making reign supreme, one name stands out as a beacon of expertise and accomplishment: Pendason Philemon, the illustrious Director of Procurement at CRDB Bank Plc. With an awe-inspiring tenure of years in the field, Philemon has proven himself to be a true titan of procurement,
In a bid to tackle youth unemployment in Tanzania, At least 128,000 youth, aged between 15 and 35 in Kinondoni District, Dar es Salaam have benefited from online creativity and entrepreneurship related trainings aimed at fighting unemployment in the country. It is through the support from Danish Embassy in Tanzania, which released about 1.19bn/- for
POINT 1: Marriott International, Inc. (NASDAQ: MAR) today announced the opening of its second Four Points by Sheraton hotel in Tanzania, Four Points by Sheraton Dar es Salaam, New Africa Hotel. The original New Africa Hotel was built as the official residence of Kaiser Wilhelm II in 1896. It was used as a hospital during
The World Bank has promised to give Tanzania a $1.7 billion credit facility in the financial year 2019/20 for financing various economic and development projects. A statement recently reported by the ministry of Finance says the World Bank vice president for Africa, Hafez Ghanem, during a meeting with the minister for Finance Dr Philip Mpango
Standard Chartered Bank in Tanzania has launched its Belt and Road Relay, the first-ever global running event on the back of the China-proposed Belt and Road Initiative (BRI). The launch of the Belt and Road Relay by Standard Chartered Bank in the commercial capital Dar es Salaam made Tanzania the 31st host of the Belt
