Govt
deficit less than estimated
By Timothy Kitundu
The government’s budget recorded an overall deficit before grants of Tsh. 112.3
billion against the estimated deficit of Tsh. 248.9 billion during the quarter
ending September 2004, the Bank of Tanzania has announced.
The latest economic bulletin for the quarter ending September 2004 indicates
that after considering grants amounting to Tsh. 318.0 billion, the budget
recorded a surplus of Tsh. 205.7 billion.
In terms of revenue performance, during the period under review, collections
amounted to Tsh. 431.8 billion against the projected Tsh. 406.6 billion.
According to the bulletin, revenue collections exceeded projections following
improvement in tax revenue resulting from the ongoing changes in tax policy,
reforms in tax administration, reduction of tax exemptions and improvements in
custom services.
The expenditure on the other hand amounted to Tsh. 653.8 billion, representing
82.0 per cent of the estimates. The lower than targeted expenditure was
attributed to the time taken to formalize and finalise the process of
procurement of goods and services.
Expenditure on priority sectors however amounted to Tsh. 92.4 billion in line
with the budget estimates. The education sector received the largest share
amounting to Tsh. 28.5 billion followed by health which received Tsh. 22.2
billion and roads Tsh. 17.8 billion.
The remainder financed expenditure in agriculture, justice and legal services,
water and other sectors.
As a result of good tax revenue performance, significant donor funds inflow, and
lower than projected expenditure, the government was able to reduce its domestic
obligations by Tsh. 104.6 billion, against the borrowing target of Tsh. 32.1
billion.
DSE
continues training for journalists
By Timothy Kitundu
Following a training programme for journalists, organized by the Dar
es Salaam Stock Exchange (DSE) in January 2005 in Bagamoyo, the firm plans to
conduct two more phases of training in the near future.
This was said in Dar es Salaam over the weekend by DSE acting Chief Executive
Officer, Oswald Urassa.
“DSE would offer further training to journalists in a bid to get reporters who
will be officially licensed to report on matters pertaining to capital markets
and related issues,” he said.
According to Urassa, having qualified reporters on capital markets would greatly
assist the DSE members of staff who are quite few in disseminating information.
Speaking at the same occasion DSE Chairman of the Board of Directors, Gabinus
Maganga affirmed DSE plans of holding the second phase of the training later
this year while the third phase would be held before the end of this year.
“All those who have attended the first phase of the training have automatically
qualified for the second phase training whereas it is only those who would pass
special examinations set by DSE that would proceed to the third and advanced
phase,” he said.
Adding that those who would sail through the third phase are the ones who would
be recognized by DSE as official reporters.
SATF
sees marked increase in profits
By Express Reporter
A Dar es Salaam based non-government organisation, Social Action
Trust Fund (SATF) has recorded an increase of its capital base by 83 per cent
since it started in 1998.
The Chief Executive Officer of SATF, Valentine Rweyemamu said in Dar es Salaam
recently that the increase is attributed to a total of US$ 6.3 million (Tsh.6.9
billion) issued in the form of loans to people running various businesses.
According to Rweyemamu, those who benefited from the loans conduct businesses in
agriculture, livestock keeping, fishing, education and health services.
He said others are those engaged in handcraft, heavy duty spare parts and hotels
business. “The returns through interest paid by borrowers pushed the total
capital to the tune of US$ 11 million (Tsh. 12.1 billion),” he said.
The purposes of the fund is two-fold: to provide financial support to the
private sector which is the engine of economic development in the country and to
utilize the profit realized to support orphans in some regions in the country.
Rweyemamu added that so far, SATF has supported orphans in 18 regions in
Tanzania mainland, namely: Mwanza, Kagera, Shinyanga, Kilimanjaro, Dar es
Salaam, Coast, Dodoma, Mbeya, Tanga, Ruvuma, Iringa, Lindi, Mtwara, Morogoro,
Arusha, Manyara, Kigoma and Arusha.
SATF was established in 1998 with the main objective to support private sector
players through loans and using the profits realized to support social services
particularly education for HIV/AIDS orphans.
Youth receive
beehives
By Kim Aidan, Kilosa
A total of 120 beehives have been distributed to Kilosa District, Dumila
Division as a way of reducing the problem of youth unemployment in the district.
Talking to reporters, Kilosa Urban Constituency Member of Parliament (MP),
Alhacy Shaweji Abdallah said the 120 beehives have been distributed to every
ward of the division namely: Magubike, Kitete, Dumila and Msingisi.
He said residents depend on harvesting honey for their livelihood and that it is
important to assist the youths with beehives to enable them to pull themselves
out from poverty.
Shaweja advised the youths in Kilosa District to stop going to towns for
employment, instead they should form petty business projects in their divisions
to raise their incomes.
Adding, the community should understand that the government has no power to
employ everyone, and that people should advise society to form various
commercial and project groups in order to reduce unemployment in the country.
The beehives are expected to be distributed by the end of this month.
Dodoma
residents get richer
By Tunu Ally, Dodoma
The rise in income for Dodoma Region residents has been attributed
to various infrastructure constructions, according to Dodoma Regional
Commissioner, Mussa Nkhangaa.
Income for an ordinary resident in the region in 2002 was Tsh. 177,877 per year
while in 2003 it increased to Tsh. 242,330.
Nkhangaa said this when contributing to a meeting which was called to make a
follow up of the implementation of Local Government Improvement Programme, held
at VETA Institute in Dodoma Municipality.
The region’s revenue has also risen from Tsh. 37.9 billion in 2002 to Tsh. 45.1
billion in 2003. This is due to its residents’ commitment.
Finish support
given to EAC
By Angela Mazula
About Tsh. 3 billion has been spent on the East Africa Custom Union
(EAC) with the aim of sustaining various projects that will be carried out
within the three EAC member countries, the Finish government has said.
Speaking in Dar es Salaam Tuesday this week during the signing of an agreement
on continued Finnish Support to EAC, Jorma Paukku, Ambassador of Finland to
Tanzania said that the Nordic country is committed to support regional
integration in Africa.
“With the reference to its own experience we consider the developing countries
own regional arrangement for cooperation and integration to be the starting
point for increasing stability and security,” said Paukku.
He added that the regional integration does also enhance stronger and stable
economic growth as well as closer contact between people.
Amanya Mushega, EAC Secretary General said the support will help them in
different areas particularly in agriculture and food security, industry and
trade, natural resources and environment, capacity building and human resources
development.
He added that the funds will greatly help in making EAC Customs Union protocol
workable by increasing supply capacities for rapid development.
Mushega also mentioned that the EAC will focus on the establishment of a Common
Market and the Monetary Union, which will lead to the process towards the
federation.
He added that changes were expected in the next five years.
Sumaye
urges fair lottery play
By Timothy Kitundu
Institutions dealing in the gaming industry have been requested by
the government to maintain a record of good reputation so that Tanzanians
interested in such games can be awarded prizes without inconveniences.
The operators, given that they use clear guidance and codes of practice, can
build confidence in people who will in turn be attracted in the games.
This was said by Prime Minister, Frederick Sumaye in Dar es Salaam over the
weekend when officially launching the national Online Lottery which will be run
by the Gaming Management (T) Limited (GAMAT).
The PM hailed the technology used in the lottery system which he termed as
adhering to the principles of objectivity transparent coupled with security.
“The winners should be paid their prizes without delay and without hustle and at
the same time, government taxes should be remitted to the ministry concerned
without delay,” he said.
Speaking at the same occasion, Hussein Taki, Chairman of the Board of Directors
of GAMAT said that the online lottery project is fully computerized and involves
a state of the art and cutting edge technology to link the lottery terminals.
He said the lottery terminals will be installed at various retail outlets with a
specialized central computerized data processing system in Dar es Salaam. The
cost of a ticket of lottery will be Tsh. 500.
Foreign
assistance put pressure on liquidity management
By Timothy Kitundu
A steady inflow of foreign assistance during the first half of 2005, coupled
with HIPC debt relief and an increase in exports have resulted into considerable
build up in liquidity and subsequent pressure in liquidity management.
The problem is compounded by low demand for domestic debt instruments, as
primary investors shifted their preference in favour of real estate and lending
to private sector.
According to the Bank of Tanzania Monetary Policy Statement of January 2005, the
relative improvement of the harvests compared with the previous year, stimulated
more demand for cash to finance crop marketing as reflected by the increase in
liquidity in terms of currency in circulation outside the banks.
“The BoT however continued to exercise vigilance in its monetary policy actions
so as to keep reserve money on track,” part of the statement reads.
Nonetheless, efforts to reduce liquidity to the targeted level were faced by
upward pressure on interest rates for domestic debt instruments and an
appreciation of the shilling against the US dollar.
Kigoma
Region wants increased support from TANAPA
By Damas Ayuke, Kigoma
Kigoma Regional Government has asked Tanzania National Parks (TANAPA) to create
a strong tourist base to financially boost the region.
This was said by Kigoma Regional Commissioner, Retired Colonel Elmon Mahawa in
Kigoma town, during a meeting of the Board of Trustees.
Mahawa said Kigoma Region had been missing the fruits of tourism as no concerted
efforts have been made to attract tourists. Adding, if TANAPA agrees to the
request the regional administration in Kigoma Region, it will be ready to
cooperate with TANAPA leadership in making the objective a success.
Cooperation between TANAPA and the public is one of the steps for achieving and
reducing poaching in the national parks.
The two national parks of Mahale and Gombe have not been used to satisfaction,
he said.
Improved
biotechnology welcomed by stakeholders
By Angela Mazula
The prospects for the application of modern biotechnology in sustainable
social-economic improvement in the country are promising, the Department of
Plant Breeding and Genetics has revealed.
Speaking in Dar es Salaam recently at the Agriculture Stakeholders’ discussion
on biotechnology, Dr. Vernon Gracen of Cornell University in the US said human
civilization has always guided the evolution of crops.
According to Dr. Gracen, all crops have been genetically modified during
domestication.
He explained the benefit of biotechnology to farmers as increased productivity,
efficiency and profits, reduction in pesticide usage leading to less cost and
environmental pollution and health risks.
In his comments, Dr. Alloys Kullaya of Mikocheni Agricultural Research Institute
(ARI) said that biotechnology’s potential role in contributing to the
socio-economic development of the country is expected to contribute
significantly to Tanzania’s Poverty Reduction Strategy (PRS) and the Millennium
Development Goals (MDGs).
He hoped the technology would reduce poverty by 2015 by 50 per cent and
eradicate poverty by 2025.
Minister for Agriculture and Food Security, Charles Keenja were also positive
saying that the benefits of genetic engineering are enormous and great.
‘Give women
non-interest loans’
By Emmanuel Lazaro, Mwanza
Agency for Defending Women Rights (KIVULINE) has asked the
government and financial institutions to provide non-interest loans to women.
Head of the Publicity Section of KIVULINI, Jimmy Luhende said this in a special
interview in the city.
The system of offering petty loans with high interest rates is an oppressive way
used by the financial organisations to extend their capitals. Form the high
interest charges, the women conduct petty business all the time and the little
profit they obtain is eventually used to repay the loans.
Luhende advised the government and the financial institutions to educate the
women and give them techniques, inputs and macro capitals, which will enable
them to participate at big businesses and obtain big profits.
Cooperative
societies asked to be selective
By Sebastian Gabunga, Mwanza
Cooperative societies in Mwanza City have been asked to come up with
a satisfactory procedure when choosing their members in order to get committed
members, who have the cooperative societies at heart.
The suggestion was given last weekend by the Director of Mwanza City, Paul
Baruti when closing the Annual General Congress of the Savings and Credit
Cooperative Society (SACCOS) for Pamba Ward.
In his speech, which was read on his behalf by Mwanza City Cooperative Officer,
Jane Binamungu, Baruti said time had come for cooperative societies to have good
members.
According to Baruti there are people who take loans but are not ready to repay
them on time.
“What I want to tell you is that, make sure you choose your members well. This
is not the time to feel shame against one another. You ought to enrol good
members and not members who look good,” said Baruti.
Bunda
District fails to meet cotton targets
By Sebastian Gabunga, Bunda
Bunda District in Mara Region has cultivated a total of 17,212 hectares of land
thus producing a projected 17,212 tonnes of cotton. The harvest is just below
the projected targets.
Agricultural Consultant for the district, Astariko Chibunu presented the
information at an Agricultural Development Symposium in Bunda town recently.
He said that the aim of cultivating 20,370 hectares could not be met due to
failure of short rains causing the land to remain dry. In the last season, he
said, the district succeeded to produce just over 14,000 tonnes of cotton.
Concerning food crops, Chibunu said, that so far farmers had managed to produce
less than the projected amount. For example, the district had aimed at
cultivating 59,970 hectares of food stuff which would have produced 70,970
tonnes of food stuff. But up to the end of the short rains the district had only
accomplished 62 per cent of the projected target.
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