Tanzania News, Tanzania Latest News

Given that Tanzania exports continue to play an important role in the economic development of the East African country, visible steps have been taken over the last few years to develop some of the country’s sub-sectors including agro-processing, manufacturing and mineral activities in an effort to accommodate the growing demand for these exports from neighboring countries.

According to Moustafa Khataw, chairman of the Tanzania Association of Travel Agents (Tasota), in spite of the local and international challenges that faced the Tanzania travel and tourism industry last year, the sector performed well, but could still benefit from improved facilitation.

According to a recently released statement from the Bank of Tanzania (BoT), between October 2010 and October 2011 Tanzania gold exports have witnessed a 33 percent increase as a result of an increase in the price of gold on the world market.

The International Finance Corporation (IFC), the private sector branch of the World Bank Group, has agreed to provide USD 5 million in funds to be used in the completion of a bankable feasibility study for a Tanzania nickel exploitation project in the Dutwa nickel oxide project located in the northern part of the country.

The managing director for Vodacom Tanzania, Rene Meza, has recently announced that his company will be investing nearly USD 100 million over the next twelve to eighteen months in improvements to the company’s mobile data business, new upgrades to network operations, agency recruitment, new technologies, new corporate services offerings and further development of the company’s financial distribution plan.

Ophir Energy has announced the launch of its 2012 Tanzania drilling program, for which it will use the state-of-the-art drillship Odfjell rig Deep-sea Metro-1 (UDW drillship) as it begins the year with its first three wells: Jodari-1, Mzia-1, and Papa-1.