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Business - Page 30

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Indiana Resources Settles Tanzanian Dispute for $90 Million

Indiana Resources Limited has reached a settlement agreement with the Tanzanian government, concluding the long-standing dispute adjudicated by the International Centre for Settlement of Investment Disputes (ICSID). The total settlement sum is set at US$90 million, to be paid by Tanzania in
July 30, 2024
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Trade Between Tanzania and Russia Growing Rapidly

Tanzania has seen a significant increase in trade with Russia, with imports from the country more than doubling over the past year. According to the latest annual report from the Bank of Tanzania, the value of goods imported from Russia rose from
July 30, 2024
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Tanzania Prophets Council Disowns ‘Witch Buster’

The Tanzania Council of Apostles and Prophets (Bacct) has officially disassociated itself from Pastor Dominique Dibwe, widely known as Nabii Kiboko ya Wachawi, declaring that he is not one of their members. The controversy surrounding Dibwe intensified following the government’s closure of
July 30, 2024
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G20 Finance Ministers Agree on Taxing the World’s Ric

Finance ministers from the world’s major industrialized nations within the G20 have unanimously agreed to devise strategies for taxing the world’s wealthiest individuals. In their statement, the ministers noted that they are seeking international alignment and further cooperation to close loopholes allowing
July 27, 2024
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Tanzania Launches Campaign for Investment Incentives

The Tanzania Investment Centre (TIC) has embarked on an extensive campaign to highlight the new incentives resulting from recent legal reforms aimed at boosting local investment. This initiative was affirmed by Gilead Teri, the TIC Managing Director, during a meeting with local
July 26, 2024
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Africa’s Diamond Industry: Economic Powerhouse and Challenges

In 2023, ten African nations secured positions within the top ten diamond-producing countries worldwide, underscoring Africa’s crucial role in the global diamond industry. This achievement highlights the continent’s significant contribution to the global supply of diamonds and its broader economic impact. Africa
July 24, 2024
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Tanzania, Comoros Strengthen Economic Relations

Secretary General of the Ministry of Foreign Affairs and East African Cooperation, Ambassador Dr. Samwel Shelukindo, has opened the First Joint Cooperation Commission (JCC) Meeting between Tanzania and the Union of the Comoros at the Expert Level taking place in Dar es
July 22, 2024
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DR. Jafo FormsTeam To Revive Morogoro Industries

The Minister of Industry and Trade, Dr. Seleman Jafo (MP), has instructed the Permanent Secretary of the Ministry of Industry and Trade to form a team of eight people. This team will work in collaboration with the regional administration and the Treasury
July 21, 2024
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