The Tanzania Private Sector Federation (TPSF) has raised concerns about the 10% withholding tax (WHT) on retained earnings in the draft Tanzania Budget 2025-2026. TPSF warns that the measure could impact investment and reinvestment, calling for sector exemptions, clearer guidelines, and a longer timeline to support business growth. The hearing, organized by the Parliamentary Budget […]
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The Bank of Tanzania (BoT) signed gold purchase agreements with four firms to buy 20% of their output. The policy supports new legal changes to enhance domestic refining and reduce raw gold exports. The contracts were signed between BoT and Geita Gold Mining, Shanta Gold Mining Company, Buckreef Gold Company, and Geita Gold Refinery (GGR), […]
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On June 11, 2025, the World Bank approved $227M in financing for climate and marine conservation in Tanzania. The funds will support fisheries, aquaculture, and local climate adaptation efforts, directly benefiting 6.6 million people. The Tanzania Scaling-Up Sustainable Marine Fisheries and Aquaculture Management Project (TAFSAM) will receive $117 million to improve marine resource management and […]
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In a bold move to boost investment, the Tanzanian government has scrapped 39 non-essential levies and fees. This is part of broader reforms under the 2022 Investment Act, designed to reduce bureaucratic bottlenecks and attract both local and foreign investors. 1. Bold Move in Dodoma: 39 Levies Erased to Spark Investment During the 2025 High-Level […]
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The Tanzania Investment Centre (TIC) recorded $3.7 billion in project registrations between January and May 2025, up from $2.8 billion in 2024. Manufacturing led with 156 projects, while total projects are expected to create 41,117 jobs. Teri attributed the achievements to the efforts of President Dr. Samia Suluhu in creating a favorable investment environment and […]
