News In Brief

Tanzania Zambia Railway Authority (TAZARA) gets TZS 52 Billion (US$ 39.3M) from the Chinese Govt to recapitalize TAZARA the Chinese would also provide technical support according to the Minister of Infrastructure Development Dr. Shukuru Kawambwa

TAZARA website is still under construction they need to be serious for a company that has been in operations for more than 33 years having started in July 1, 1976 it leaves alot to be desired.

Dar-es-Salaam Transport Corporation(UDA) are in joint talks with a US based company, Joint International Business Group LLC the company would be offering 200 buses and technical assistance once they have put pen on paper on their deal.(correction its 200 buses not 2000 as earlier posted)

Good News:The construction of the Kigamboni Bridge to begin during the 2009/10 financial year.

From Bank of Tanzania (BoT):

BoT said today that …..Tanzania's current account deficit rose by 15 percent to $1.88 billion in the year to April due to more buying of goods for construction, mining, communication and manufacturing.

Goods and services imports jumped 16 percent to $7.27 billion in the period under review, Bank of Tanzania said in its monthly economic review for May.

"Importation of capital goods increased in line with growth of activities in the construction, mining, communication and manufacturing sectors," the bank said, adding that fertiliser imports also increased.

Goods and services exports also rose by 16 percent to $4.77 billion compared with the same period in 2008, helped largely by manufactured goods and gold sales.

However, the bank said gold exports dipped by 3 percent to $839.9 million, from the sale of 28.2 tonnes of the precious metal compared with 35 tonnes in the year ago period.

The fall in earnings was cushioned by improved gold prices.

Gold made up 31 percent of total goods sold outside the country, while manufactured goods accounted for 24 percent.

*Credit to the private sector from banks rose by 34 percent to 4.63 trillion shillings, the bank said.