Category: The Citizen

Dar es Salaam. The Bank of Tanzania (BoT) has ruled out selling its gold reserves despite global prices reaching historic highs, saying its purchases are intended to diversify the country’s foreign exchange stock rather than generate trading profits.

BoT Governor Mr Emmanuel Tutuba said the central bank would only consider selling gold if the country needed additional foreign currency, noting that the current position remains strong. “Tanzania holds about $6.4 billion in foreign exchange reserves (excluding gold), enough to cover five months of imports,” he said.

“We also continue to receive steady inflows of foreign currency from agricultural and mineral exports, as well as tourism.” His remarks came as gold continued to show exceptional strength through October and mid-November.

In mid-October, global prices hit a record high of around $4,180 per ounce. Although early November saw a brief dip as the US dollar strengthened and expectations of Federal Reserve rate cuts softened, prices rebounded above $4,200 per ounce by November 1314 amid renewed optimism that the Fed will cut rates in December.

From October to mid-November 2025, gold prices remained elevated, supported by expectations of lower interest rates, strong safe-haven demand, central bank buying and rising investment flows–despite occasional volatility triggered by shifting macroeconomic conditions. On the mining front, small-scale miners are already feeling the impact of the price rally.

Ms Nurath Athumani, Secretary of the Imalabuhabi Miners’ Group in Butundwe Division, Geita Region, said the surge had brought much-needed relief. “Currently, gold prices have increased from about Sh80,000 to between Sh200,000 and Sh300,000 per gram,” she said.

“For us miners, this is a significant blessing. It allows us to earn better returns on the long and difficult hours we spend in the mines.

” She said most of their gold is sold at the Geita Gold Market, which offers regulated and transparent pricing, as well as safer trading conditions than informal buyers. “These prices give us hope for greater financial stability and better living conditions for our families,” she added.

Independent financial analyst Mr Christopher Makombe said the rising price of gold reflects ongoing geopolitical tensions that continue to push investors toward safe-haven assets. He noted that central banks worldwide remain active buyers.

“Higher prices mean Tanzania earns more dollars from exports, strengthening foreign reserves and helping stabilise the shilling,” he said. “This can ease inflationary pressures driven by imported goods, especially fuel and machinery.

” Mr Makombe added that higher prices boost profits for mining companies, resulting in increased government tax revenues. Rising prices also tend to attract new investments in exploration, extraction and processing.

“Tanzania could see expansion of existing mines, issuance of new mining licences and growing interest from foreign investors,” he said. He noted that mining expansion stimulates demand for labour and local suppliers–such as transport, catering, engineering and other support services–and that small-scale miners stand to benefit from higher incomes, which could strengthen rural household earnings and reduce poverty.

Supporting sectors, including gold refining, banking, insurance and logistics, also benefit from a buoyant mining industry. However, Mr Makombe warned that overreliance on gold revenues could expose the economy to global price fluctuations.

“Diversification remains essential for sustainable economic development,” he said. “Overall, higher gold prices are generally positive for Tanzania.

They enhance government revenue, attract investment, create jobs and strengthen the shilling through increased foreign exchange earnings,” he stressed. .

Dar es Salaam. A new investment product has been launched to offer local and foreign investors direct access to shares of major companies across the East African Community (EAC).

The iTrust East African Community Large Cap Exchange Traded Fund (IEACLC-ETF) was introduced yesterday, marking a significant development for the regional investment landscape. The ETF is regulated by the CMSA, with NBC Bank serving as custodian of investor assets.

iTrust Finance CEO, Faiz Arab, said the introduction of the IEACLC-ETF marks a significant step forward for Tanzania’s investment landscape. “This ETF opens a new chapter for investors in Tanzania.

For the first time, individuals can access a professionally managed regional fund through a simple and affordable product,” he said. Arab noted that East Africa remains one of the continent’s fastest-growing regions, and the fund provides a convenient entry point for investors seeking exposure to that growth.

The ETF is designed to lower investment barriers and enable both new and experienced investors to participate in the region’s economic expansion through a diversified basket of large, stable companies. He added that the fund’s structure emphasises transparency and investor protection whilst reducing concentration risk and enhancing long-term return potential as share values appreciate.

Through the ETF, investors will hold units linked to shares listed on the Dar es Salaam Stock Exchange (DSE), Nairobi Securities Exchange (NSE), Uganda Securities Exchange (USE), and Rwanda Stock Exchange (RSE). The fund tracks a blended benchmark index that incorporates all four markets, offering broad regional exposure.

The Initial Public Offering (IPO) opened on November 17, and runs until 12th December 2025, with a minimum investment of Sh100,000–making the product accessible to a wide range of investors. Once listed on the DSE, the ETF units will trade freely at market prices.

The Capital Markets and Securities Authority (CMSA), which regulates the ETF, used the occasion to reaffirm its commitment to fostering an enabling environment that encourages both public and private institutions to utilise capital markets as a sustainable source of financing for national development. NBC Bank will serve as the custodian of investor assets.

Speaking at the launch event, CMSA Director of Policy, Research and Planning, Alfred Mkombo, said capital markets are a reliable avenue for long-term financing, particularly as the government and businesses seek alternatives to traditional borrowing. “Capital markets stimulate economic development by enabling access to funds and strengthening good governance in the management of companies and institutions so they can operate efficiently,” Mkombo said.

“When organisations raise capital through the markets, they reduce dependence on expensive debt, improve accountability, and support sustainable investment.” He emphasised that Tanzania’s development ambitions, including infrastructure expansion, industrialisation, and technological growth, require diversified financing sources.

Capital markets, he noted, offer predictable, transparent, and cost-effective funding that can ease fiscal pressures whilst empowering private-sector growth. .

Dar es Salaam. Tanzania may need to rely more on domestic resources to finance development projects, President Samia Suluhu Hassan has said.

Speaking during the swearing-in ceremony for newly appointed ministers in Dodoma yesterday President Hassan said concessional financing from donors, most of which is used to finance development projects, could be affected by the country’s tarnished image following the October 29 unrest. She tasked members of the new Cabinet with working diligently to mobilise domestic resources, including leveraging natural resources such as minerals to attract financing.

She said the election-related violence could undermine the trust of development partners, prompting a shift from heavy donor dependence to increased domestic resource mobilisation. “In my first term, financing was readily available because there was trust.

What happened in our country has tarnished our image, and this could reduce donor confidence,” President Hassan said during a live broadcast. “We must therefore use the resources we have to attract more funding and ensure that the projects we promised are delivered with speed.

” Her remarks referred to the unrest on October 29, 2025, when Tanzanians went to the polls to elect the President, Members of Parliament, and Ward Councillors. The unrest erupted in Dar es Salaam, Arusha, Mbeya, Mwanza and other regions, with demonstrators protesting against the continuation of the polls.

Rioters vandalised public and private property, setting fire to polling stations, police posts, Bus Rapid Transit (BRT) terminals, political party offices, fuel stations, shops, and bars, resulting in fatalities. Call for prudent financial management In response to these developments, economists are urging the government to prioritise careful financial management, including reducing unnecessary expenditures such as luxury vehicles (Shangingi) for senior officials, which carry high procurement and fuel costs.

Greater scrutiny is also needed over Other Costs (OCs), a catch-all category for expenses not classified under personnel, materials, systems, or outsourced services. President Hassan instructed the new ministers to work with urgency and professionalism, emphasising that poor performance would not be tolerated.

She reminded them that their appointments followed rigorous vetting, not privilege. “You were selected from more than 300 Members of Parliament.

It is not because you are exceptionally better, but because there was rigorous vetting. So, you must serve the citizens.

I have also taken an oath, and I will be right behind you,” she said. She noted that funds from development partners often come with numerous conditions and delays in disbursement.

“Given this, our projects must continue using the resources we have. If donor funds eventually arrive, they should find work already underway,” she stressed.

“We have limited resources, so we must use them wisely. Ministers must act quickly to ensure citizens experience development.

Time is short, and there is much to be done,” she added. Economists suggest strategies for growth Independent economist Oscar Mkude told The Citizen that reducing unnecessary expenditures would free domestic resources for development.

He also urged stronger support for producers, particularly in agriculture and livestock, to boost productivity and exports, increasing foreign currency inflows. “There are already people producing for export; they should be further supported, including promoting short-cycle livestock production that can be sold abroad,” he said.

Mkude also called for value addition in sectors such as gold, horticulture, and other agricultural commodities to attract investment and expand exports. He emphasised that long-term planning is crucial for rebuilding confidence with development partners, noting that compromised trust can reduce foreign direct investment.

Another economist, Renatus Mbamilo, outlined three strategies for mobilising domestic resources: issuing long-term government bonds for citizens to purchase, securing loans from well-capitalised foreign banks under strict oversight, and, as a last resort, increasing taxes in selected sectors. He cautioned that higher taxes could deter investment and slow economic growth.

As Tanzania enters a new phase of government leadership, ministries face mounting pressure to stabilise investor sentiment, strengthen domestic revenue sources, and ensure that key development projects remain on track. Dr Lutengano Mwinuka, an economics lecturer at the University of Dodoma, said there was an urgent need to revisit the national budget and reassess revenue and expenditure so that adjustments could be made.

He added that budget priorities would guide which areas require immediate attention, particularly those directly affecting citizens. “It is sensible to prepare now, exploring alternative domestic financing options as a measure to safeguard the economy from collapsee,” he said.

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Dar es Salaam. Tanzania’s representatives in the CAF Confederation Cup, Singida Black Stars, have declared full readiness ahead of their highly anticipated Group C opener against CR Belouizdad of Algeria on Saturday.

The crucial encounter is scheduled for 10pm East African Time at the Nelson Mandela Stadium in Baraki, where Singida will be seeking a positive start to their maiden appearance in the continental competition. The Tanzanian outfit departed for Algeria yesterday, completing their final training sessions on home soil before switching focus to the challenging away fixture.

This is Singida Black Stars’ first-ever appearance in the CAF Confederation Cup group stage, marking a significant milestone for the fast-rising club. Group C is widely regarded as highly competitive.

Apart from Singida Black Stars and CR Belouizdad, the group features Stellenbosch FC of South Africa and Otoho d’Oyo of Congo Brazzaville. Stellenbosch and Otoho will meet on Sunday at 4pm EAT at the Danie Craven Stadium in Stellenbosch, a match that will also shape the dynamics of the group standings.

For Singida, Saturday’s clash carries added importance as they attempt to establish themselves as worthy contenders on the continent.Head coach Miguel Gamondi and his technical bench will rely on the experience, leadership, and composure of senior players Khalid Aucho and Clatous Chama–both of whom featured prominently for Young Africans (Yanga) in last season’s CAF Champions League.

In an intriguing sub-plot, Aucho and Chama will be reunited with their former head coach, Saed Ramovic, who briefly led Yanga before joining CR Belouizdad. Ramovic’s stint at Yanga lasted 81 days, during which he oversaw six matches before parting ways with the club.

Singida defender Nickson Kibabage, who also worked under Ramovic during his short tenure, adds further familiarity between the two sides. The knowledge Ramovic possesses about the Tanzanian players could influence the tactical approach of both teams, making preparation even more important for Singida.

Nonetheless, the Tanzanian side remains confident that their blend of experience, discipline, and ambition will help them navigate the difficult conditions often associated with North African fixtures. Singida Black Stars understand that a strong start away from home would significantly boost their chances of progressing to the knockout phase.

The players have expressed determination to prove that their qualification was no fluke and that they can compete with established continental sides such as Belouizdad, who have consistently featured in Caf competitions. .

Arusha. Members of the African Union Advisory Board Against Corruption (AUABC) have convened a six-day strategic retreat in Arusha to develop new approaches to tackle corruption across Africa.

The retreat comes as corruption continues to cost the continent an estimated $125 billion annually, equivalent to half of Africa’s domestic tax revenue and about 25 per cent of GDP. This marks an increase of over $25 billion from last year.

AUABC chairperson, Kwami Edem Senanu, said corruption undermines development, weakens infrastructure investment, and erodes public trust in government institutions. “Board members from legal, finance, procurement, and human resources sectors are examining internal systems to strengthen them and support African countries in addressing corrupt practices,” he said.

Senanu highlighted the role of digital technology in anti-corruption efforts. “Numerous digital tools can enhance our capacity to detect and prevent corrupt practices,” he said.

He also stressed the importance of youth, who make up over 60 per cent of Africa’s population. “The youth must lead in safeguarding resources that can unlock employment and economic opportunities,” he said.

Tanzanian board member, Benjamin Kapera, noted that corruption hampers economic growth and keeps countries dependent on foreign aid. He added that limited access to reliable information and weak witness protection discourage reporting and prosecution of corruption.

The retreat coincides with the AUABC’s 50th Ordinary Session, during which five new members were sworn in. Over the six days, the Board will review its 2025 work plan, finalise the 17th Activity Report for submission to the African Union Council of Ministers, and discuss the development of a Unified Code of Ethics for public officials across Africa.

The Board is also reviewing this year’s Africa Anti-Corruption Day (11 July) celebrations and planning more impactful campaigns for the future. .

Dar es Salaam. Political analysts and diplomats remain divided over the arrival of former Malawian President Dr Lazarus Chakwera, appointed by the Commonwealth as Special Envoy to Tanzania to support reconciliation efforts.

While some have welcomed the initiative, others have criticised the timing, arguing that the current crisis remains under local jurisdiction. Dar es Salaam-based lawyer Dr Onesmo Kyauke described the move as a crucial step in easing the country’s political tensions.

He noted that the Commonwealth has the authority to intervene in political disputes among member states and pointed to its mediation during Zanzibar’s 2000 election crisis as a positive example. “Dr Chakwera should focus on identifying the root causes and parties involved to facilitate dialogue and solutions.

They are mediators, not intruding on our sovereignty,” Dr Kyauke said, emphasising that the envoy’s role is supportive rather than interventionist. In contrast, diplomat Dr Benson Bana questioned the necessity of the visit, arguing that the unrest remains within the remit of national institutions.

“Our institutions and regional bodies such as the EAC, SADC, and AU are capable. It is too early for the Commonwealth to intervene,” he said.

Dr Bana added that an independent commission set up by President Samia Suluhu Hassan is already investigating the violence during protests on 29 and 30 October, which left several dead and caused substantial property and infrastructure damage. Dr Chakwera is expected in Tanzania today, 18 November, for a four-day visit.

He will hold discussions with government officials, political leaders, civil society representatives, religious and traditional authorities, as well as national and international stakeholders. The aim is to foster inclusive dialogue on reconciliation, democratic space, and political rights.

He will be accompanied by Commonwealth Deputy Secretary-General Professor Luis Franceschi. The Commonwealth, an association of independent nations formerly under British rule, has frequently played a mediatory role in member states during political crises.

Secretary-General Shirley Botchwey said Dr Chakwera’s experience will be critical in supporting constructive dialogue and promoting peace and stability. Accepting the appointment, Dr Chakwera said: “As a neighbour, I have closely followed Tanzania’s political situation and am ready to support the dialogue process.

” This is not the Commonwealth’s first mediation in Tanzania. In 1995, Chief Emeka Anyaoku appointed Dr Moses Anafu to mediate between CUF and CCM in Zanzibar, resulting in the first agreement that addressed electoral reforms, constitutional amendments, and compensation for victims of political unrest.

In her November 14, parliamentary address, President Hassan expressed sorrow over the recent violence and called on all stakeholders to support reconciliation efforts. .

Dar es Salaam. President Samia Suluhu Hassan has cautioned that the October 29 unrest could undermine confidence among development partners who support some national projects, signalling a shift towards increased domestic resource mobilisation to keep development on track.

Speaking during the swearing-in ceremony for newly appointed ministers in Dodoma on Tuesday, November 18, President Hassan said Tanzania had previously enjoyed strong trust from donors, which made financing more accessible. However, she warned that the recent disturbances risk slowing the progress of both ongoing and planned projects.

“In the previous term, financing was readily available because there was trust. What happened in our country has tainted our image, and this is likely to reduce our resource base,” she said.

“We must therefore use the resources we have to attract more funding so that the projects we promised are delivered with speed.” The Head of State directed the new ministers to redouble efforts to secure financing, underscoring that her administration would not tolerate poor performance.

She said any minister who falls short of expectations would be relieved of their duties. She further urged the ministers to respect the oath they had taken and focus on serving Tanzanians, rather than viewing their roles as symbols of status.

“You were selected from more than 300 Members of Parliament. It is not because you are exceptionally better but that there was rigorous vetting.

So, you must serve the citizens. I have also taken an oath, and I will be right behind you,” she said.

Her remarks come in the wake of the October 29 general election unrest, which saw protests erupt in several parts of the country as some youth groups sought to prevent the election from processing, emanating in internet disruptions and a heavy-handed security response that resulted in casualties and property damage. .

Dodoma. President Samia Suluhu Hassan has established an Independent Commission of inquiry to investigate the civil unrest that erupted during and following Tanzania’s General Election on October 29, 2025. The Commission will be chaired by retired Chief Justice Mohamed Chande Othman.

President Samia has appointed seven additional members noted for their experience in law, diplomacy, security, and regional governance: Professor Ibrahim Juma, retired Chief Justice of the High Court of Tanzania Ambassador Ombeni Sefue, former Chief Secretary Ambassador Radhia Msuya, former diplomat Ambassador Lt. Gen.

Paul Meela, former diplomat Retired Inspector General of Police Said Ally Mwema, former head of the Tanzania Police Force Ambassador David Kapya, former diplomat Dr Stergomena Tax, former Executive Secretary of the Southern African Development Community (SADC) The Commission is tasked with examining the causes and circumstances of the unrest that marred the post-election period, amid opposition claims of irregularities and reports of clashes between protesters and security forces in several parts of the country. No specific timeline for the Commission’s report has been disclosed.

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As the Trump-mediated peace deal for eastern Congo wobbles, the European Union is stepping in with a humanitarian approach, negotiating with key players including Uganda’s military a security linchpin in the conflict-plagued North Kivu and Ituri provinces to secure supply routes and the region’s main airport to facilitate the delivery of relief supplies. On Monday, Brussels Special Representative for the Great Lakes Region Johan Borgstam met with Uganda’s military leader Gen Muhoozi Kainerugaba to discuss the security and humanitarian situation in the troubled mineral-rich eastern Congo.

At the heart of the meeting, attended by the EU Head of Delegation Jan Sadek, was the discussion of increasing the Uganda People’s Defence Forces (UPDF) role in Ituri and North Kivu, to improve humanitarian access. The Ugandan army has more than 6,000 troops deployed in the area.

In a statement, the army said Gen Kainerugaba and his guest discussed the role of UPDF’s external operations in the DRC, South Sudan, and the Central African Republic. Borgstam, who previously met with UPDF’s Chief of Land Forces Lt-Gen Kayanja Muhanga and the commanders of Ugandan troops in Congo under the joint Operation Shujaa with Congolese forces since November 2021, believes Kampala is crucial to resolving the situation in eastern Congo.

“I believe that for sustainable solutions that can truly secure peace and stability in the region, it’s incredibly important that Uganda and Burundi are also part of the work towards the solutions,” Borgstam said in Kampala. In August, while reacting to the Rwanda and Congo peace deal signed in Washington DC, and the Doha process, Gen Kainerugaba took to X, expressing Uganda’s significance as one of the major actors in the region in any deal seeking to resolve the crisis in eastern Congo.

“If war breaks out again in Eastern DRC, we will not hesitate for a minute to secure our interests as a country. Not involving the region (i.

e. EAC) in the Doha process was a mistake,” he wrote.

Indeed, last month, the EU special envoy concluded missions to the region’s other actor Burundi, as well as to the antagonists Democratic Republic of Congo and Rwanda. Analysts say these efforts highlight Brussels’ move to shed the label its own Parliament cast on the bloc in February, in a strong resolution that condemned the EU’s inaction in the region where the Rwanda-backed M23 were committing serious war crimes.

This is amid global actors pushing their interest in Congo, with the US mediating a peace deal to end the war between the M23 rebel group and the Kinshasa government, in exchange for access to minerals, while China also reportedly monitors how the conflict’s dynamics affect mineral trade. Brussels has since pledged Pound 9 million ($10.43 million) in humanitarian aid to DRC, announced last month by the EU’s High Representative for Foreign Affairs and Security Policy Kaja Kallas, to respond to the tragic humanitarian needs in the country.

This brings the total of EU humanitarian assistance to the Great Lakes Region for 2025 to Pound 129 million ($149.50million). This is crucial as a conflict-fuelled humanitarian crisis continues to escalate in eastern Congo, despite a US-brokered peace deal between the DRC and Rwanda on June 27, and a ceasefire truce signed in Doha, Qatar last month, between Kinshasa and the M23 rebels.

Recently, the World Food Programme (WFP) reported a worsening hunger crisis due to the fighting between M23 and Congolese government forces that has seen eastern Congo become the world’s largest crisis for displaced persons. According to WFP, a staggering 5.

2 million people have been displaced, 1.6 million of them just this year.

Amid funding cuts and closed supply routes supplies are dwindling and forcing relief agencies such as Medecins Sans Frontieres and WFP to cut back on programmes as they run out of medical and food assistance. In light of this situation, the EU Special Representative for the Great Lakes Region views the UPDF as a partner that can multitask on its main mission in the DRC hunting down Islamic State-affiliate the Allied Democratic Forces (ADF) terrorists to also guarantee humanitarian access.

“I encouraged the UPDF to do what it can to secure humanitarian access, to work closely with the humanitarian actors, and also work with Monusco and to do what they can,” said Borgstam, on his fifth visit to Uganda since his appointment as Great Lakes Region special envoy in September 2024. “It is very important to look at the humanitarian situation also in a military-political perspective,” he added, explaining that funding cuts for humanitarian aid have security and political consequences for all actors when people in refugee and displaced camps have no access to basics. Apparently, Gen Kainerugaba, Lt-Gen Muhanga and the field commanders in Beni, North Kivu, all indicated that securing supply routes and working with humanitarian actors is an integrated part of their mission in Ituri and North Kivu.

“They don’t see engaging with humanitarian partners or others as something that would force them to step back from their military objectives. They are highly professional and understand the negative security impact of a humanitarian situation that gets out of hand,” the EU envoy said.

Borgstam’s visit comes barely a fortnight after French President Emmanuel Macron’s call to reopen Goma Airport, with a pledge of Pound 1.5 billion for humanitarian aid, which the M23 rejected and labelled untimely.

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Washington. The UN Security Council on Monday voted to adopt a U.S.-drafted resolution endorsing President Donald Trump’s plan to end the war in Gaza and authorizing an international stabilization force for the Palestinian enclave.

Israel and the Palestinian militant group Hamas agreed last month to the first phase of Trump’s 20-point plan for Gaza – a ceasefire in their two-year war and a hostage-release deal – but the UN resolution is seen as vital to legitimizing a transitional governance body and reassuring countries that are considering sending troops to Gaza. The text of the resolution says member states can take part in the Trump-chaired Board of Peace envisioned as a transitional authority that would oversee reconstruction and economic recovery of Gaza.

It also authorizes the international stabilization force, which would ensure a process of demilitarizing Gaza, including by decommissioning weapons and destroying military infrastructure. Hamas, in a statement, reiterated that it will not disarm and argued that its fight against Israel is legitimate resistance, potentially pitting the militant group against the international force authorized by the resolution. U.S Ambassador to United Nations Michael Waltz and other ambassadors vote in favor for a resolution during a meeting of the United Nations Security Council to consider a U.S. proposal for a U.N. mandate to establish an international stabilization force in Gaza, at U.N. headquarters in New York City, U.S., November 17, 2025. “The resolution imposes an international guardianship mechanism on the Gaza Strip, which our people and their factions reject,” Hamas said in its statement, issued after the adoption of the resolution.

Mike Waltz, the U.S.

ambassador to the UN, said the resolution, which includes Trump’s 20-point plan as an annex, “charts a possible pathway for Palestinian self-determination where rockets will give way to olive branches and there is a chance to agree on a political horizon.” “It dismantles Hamas’ grip, it ensures Gaza rises free from terror’s shadow, prosperous and secure,” Waltz told the council ahead of the vote.

Russia, which holds a veto on the Security Council, earlier signaled potential opposition to the resolution but abstained from the vote, allowing the resolution to pass. The UN ambassadors of Russia and China, which also abstained, complained that the resolution does not give the UN a clear role in the future of Gaza.

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