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FOR the tourism industry to grow at the required pace, the Hotels Association of Tanzania (HAT) has identified unfavourable business environment and huge skills gap as main challenges that set back the development of the sector.

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TANZANIA Agricultural Development Bank (TADB) yesterday pledged to allocate fund to support irrigation farming with the purpose of facilitating attainment of sustainable food self-sufficiency in the country.

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Farmers from an upcountry region in Tanzania admire their maize harvests. Tanzania’s ban on maize exports will increase food prices in the East African region, according to a recent report. (File photo)

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Tanzania’s ban on maize grain exports to assure the country’s food security and to encourage value addition through exports of flour, will likely move regional cross-border trade to informal channels because of porous borders, according to a regional bulletion for cross border trade.

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COFFEE farmers and traders in Kagera Region are happy as coffee prices have gone up this season as compared to same period last year.

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The Tanzanian shilling has steadily maintained its position since the opening of this month against the US dollars thanks to matching levels.

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The shilling has marginally depreciated by 2.5 per cent since the beginning of the year. The Bank of Tanzania (BoT) data showed yesterday that the shilling dropped to 2,242/35 yesterday against 2,186/21 at the beginning of this year.

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TANZANIANS and foreign investors’ appetite for share sale of rapid growing firms will soon be tested again as Maxcom Africa, an ICT integration company, nears its landmark initial public offering.

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THE National Social Security Fund (NSSF) has issued a 8.99 billion shillings loan to the Cereals and other Produce Board of Tanzania for purchasing of maize and rice milling machines to revive the board’s factory in Mwanza which stopped production in early 1990s.

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FINCA Microfinance Bank has simplified account opening and credit processing after linking up with National Identification Authority (NIDA) data base.

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PHILIP Morris Tanzania Limited, an affiliate of Philip Morris International (PMI) has signed manufacturing agreement with Mansoor Industries Limited for cigarette making to cater for local and international market.

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ZANZIBAR has upped minimum civil servant pension by 120 per cent in a new review announced by treasury. According to Ministry of Finance and Planning, now retirees from public service will earn a uniform 50,000/- increment.

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FISH prices have gone up at Magogoni International Market in Dar es Salaam after fish supplies sharply declined.

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THE authorities are planning to expand Tanga Airport runway and other facilities to handle traffic in 24 hours.

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TWO organisations have chipped in to address the shortages of primary school libraries and textbooks, which hamper delivering of quality education.

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TANZANIA is expecting to host the second East African Business and Entrepreneurship Conference and Exhibition next month.

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GEITA Gold Mine (GGM) has invested over 12bn/- in water project and managed to reach 36 per cent of the Geita township population in four years.

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THE second SWIFT Business Forum is expected to be held in Dar es Salaam in the first week of next month.

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SWALA Oil and Gas is planning to issue a seven-year retail bond payable in either available funds or the firm shares. The convertible bond, coming into three tranches, will have a coupon rate of 12 per cent to 16 per cent.

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EXIM Bank is celebrating 20 years of service by giving back 200m/- into the local health care sector. Exim in those years climbed to become among top five banks—in term of assets—in a stiff-competition industry that has some 60 players.

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SIMIYU’S cotton farmers have managed to triple their farms output thanks to the new seed variety. The new seed UKM08, according to farmers, was much superior compared to the old UK91which they used for 26 years.

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SOME taxi drivers in the city have expressed their frustration following the high picking of Uber commercial transportation services.

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VODACOM Tanzania hit the bourse running yesterday after its share appreciated by almost 6.0 per cent to 900/- at the first day of listing.

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Mr Hanna said going by government projection to industrialize the nation stakeholders should start addressing supply issue before demand overtake it in next five years. “If the industry demand is real [as per government projections], it is time to discuss for the future,” Mr Hanna said. The firm said Dar es Salaam is the regional gas hub and at the moment suppliers are meeting domestic demand. The region needs are yet to be touched. And, the country has the potential to become a Liquefied Natural Gas (LNG) exporter— but investment and contracts extension should start now. Based on BP’s energy outlook 2017, natural gas consumption in industry and power will grow at a rate of 1.6 per cent per year until 2035. This signals a potential future export market for Tanzania’s LNG. Looking forward, Arthur G. Kanza an expert in oil and gas said in one of his articles, planners and policy makers must understand the role of gas as an alternative source of energy. Quickly implement proper solutions that will leverage its exploitation, energize the national economy and potentially restore a positive balance of trade to the benefits of the people of Tanzania.

TANZANIA has started to observe some saving generated after using natural gas as it slowly walking toward a gas based economy.

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THE cement industry is heading into a cliff-edge if clinker importation continues unabated. The stakeholders have it that if imported clinker continues those producing it locally would have no choice than closing businesses— sending thousands out of jobs.

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THE country’s microfinance market stability and continued expansion is under threat due to poor loan repayment despite expanding robustly.

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KENYA general election has affected Dar es Salaam Stock Exchange (DSE) performance to register a market capitalization fall of over 500bn/- in a week.

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A TANZANIAN, Edgar Edmund (17) is among 15 finalists of young African entrepreneurs from a field of more than 800 applicants.

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AIRTEL Tanzania has registered the highest number of clients during the second quarter of this year amid stiff competition.

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THE Bank of Tanzania (BoT) has licensed a new housing finance firm the first of its kind in the history of mortgage business in the country.

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ZANZIBAR tourism sector is facing acute shortage of skilled labour forcing operators to hire outside the spices archipelago.

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KANSAI Plascon Africa, a subsidiary of Japan based Kansai Paint, has concluded its agreement to purchase the Sadolin Paints operations in Tanzania and other East African countries.

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PRIVATE Agricultural Sector Support (PASS) Trust was a centre of attraction at the just ended Nanenane exhibitions here, with hundreds of inquisitive visitors inquiring on availability of credit facilities.

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TANZANIA and China trade volume is hovering around 4.6 billion US dollars annually, as both countries pledge to keep their trade and investment doors open.

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