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Tanzania’s National Bureau of Statistics (NBS) report on the first-quarter gross domestic product (GDP) showed that the Tanzania economy managed to hit 5.7 per cent growth in Q1 compared to 6.3 per cent in the previous year similar quarter.
According to the report, the Q1 value of GDP in absolute terms GDP stood at around $ 15 billion compared to over $14 billion in 2019. On the same mark, the value of GDP at 2015 constant prices rose to nearly $13 billion in Q1 from $9 billion in the corresponding quarter in 2019.
However, the comprehensive report shows that the reformed mining and quarrying industry recorded the highest growth at 15.3 per cent and gold production was a factor.
The newly World Bank categorized middle-income nation of more than 58 million, also saw growth from human health and social work activity (10.2 per cent), professional, scientific and technical activity (8.9 …
Tanzania’s Social Action Fund (TASAF), a poverty-reduction base will get a $562 million loan to support its second phase.
According to information from The Citizen, over $800 will be spent during the five years of implementing the phase, officially launched earlier today by Tanzania’s President John Magufuli.
Also, the information revealed that the rest of the amount will be sourced from various other development partners including the Opec Fund for International Development set to issue $50 million.
However, TASAF director-general Ladislaus Mwamanga, highlighted that the programme goals are set to empower poor households with funds, known as ‘Productive Social Safety Net’ with which they can conduct their income-generating activities.
The safety net which was initiated in 2000, had over 1.1 households in Tanzania with over 5.2 people enrolled in the programme.
During the launch, it was revealed that TASAF spent over $692 million in poverty alleviation programmes national wide.
The Tanzanian informal sector is one of the leading employers’ spheres and a rather pool for mushrooming local or indigenous knowledge and creativity, which eventually remains dormant, and not analyzed keenly.
Available data of the past shows how the informal sector bears merit to the convectional economy if utilized effectively. The International Labor Organization data points out that, non-agriculture jobs in the informal economy represent 66 per cent of all employment in Sub-Saharan Africa (SSA).
Further, about 74 per cent of women are within informal employment boundaries, compared to 61 of the males. Data published by Statista, show that agriculture sector—which has been attracting a multitude of the Tanzanian un-employed population, has been the leading employment sector since 2008, where it scored 73 per cent, today it stands at 66.35 per cent.
In August this year, Tanzanian’s National Bureau of Statistics (NBS) and Ministry of Finance and Planning, did a …
The world is much more digitally interconnected, compared to the past three decades, and Tanzania has been busy to get its fair share of interconnectedness.
In 2013, there were about 23 million telecom subscribers in Tanzania, surprisingly at the moment, the number is almost close to double, as Tanzania Communications Regulatory Authority (TCRA), telecoms statistics show, over 43 million subscribers, with an 81 per cent penetration.
It is important to recognize the contribution of the telecoms sector in Tanzania, to the economy and to the promotion of innovative solutions to community problems. Tanzania’s National Bureau of Statistics (NBS) quarterly highlights, show that: information and communications sector recorded a 10.3 per cent growth, compared to 9.6 in the first quarter, thus—the growth is attributed to increasing in airtime used by mobile phone owners, and the expansion of Tanzania’s broadcasting and internet use landscape.
On the side of the context, Bank of …