Aidha wametakiwa kutumia alama ya kutambulisha bidhaa walizozalisha kutokana na alama hiyo kuhifadhi kumbukumbu ya mahali inapotoka bidhaa, mzalishaji na mtumiaji wa bidhaa hiyo.

Katibu Mkuu Wizara ya Viwanda, Biashara na Masoko,Joyce Mapunjo alisema hayo karibuni wakati alipokuwa akifungua mkutano wa siku nne kwa wajasiriamali kutoka Kenya, Tanzania na Nigeria kwa ajili ya kutambulisha alama mpya itakayomtambulisha mjasiriamali aliyetengeneza bidhaa mbalimbali.

Mapunjo alisema Serikali inajitahidi kuwainua wajasiriamali ili wapate masoko lakini cha kushangaza badala ya kubuni mbinu zitakazowawezesha kuzalisha bidhaa zenye ubora, huishia kuiga biashara na kulalamikia masoko.

Alisema ni vyema wajasiriamali waachane na tabia hiyo badala yake wawe wabunifu, ili wapate soko na kushindana na masoko ya ndani na nje ya nchi hususan Kenya, kwani wao wamefanikiwa kuuza bidhaa mbalimbali ndani na nje ya nchi kutokana na kutumia alama maalumu kwenye bidhaa zao.

Mwenyekiti wa Bodi ya Taasisi ya GSI (TZ), Elibariki Mmari alisema alama hiyo itawezesha Tanzania kujulikana duniani kuwa miongoni mwa nchi zinazozalisha bidhaa mbalimbali.

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Posted by monfinance on July 9, 2012 in Tanzania News

Tags: Business News, Tanzania Economy

Tanzania 2012/2013 Budget Excerpts:- World vs.National Economy.

03 Jul

World Economy

According to International Monetary Fund, the world economy grew by 3.9 percent in 2011, compared to 5.3 percent in 2010. the low growth was due to the economic crisis in the Euro area caused by financial fragilities, particularly, losses in the banking sector, rising fiscal deficits and instabilities in the Arab countries.

Africa’s economic growth slowed down to 2.7 percent in 2011 compare to 4.6 percent in 2010, mainly due to political unrest in the North African countries. Growth in the Sub-Sahara African countries slowed to 5.1 percent in 2011 compared to 5.3 in 2010.

National Economy

The real GDP grew by 6.4 percent in 2011 compared to 7.0 percent in 2010. The slowdown in growth is largely attributed to drought conditions in some parts of the country which adversely affected agricultural production. Electricity outage contributed to low performance in manufacturing and other economic activities that rely on electricity. Despite the slowdown in overall growth, communication, financial intermediation, construction and education sub-sector recorded higher growth rates ranging between 6 percent and 19 percent.

The growth rate of the agriculture sector, which employs about 75 percent of the labour force declined from 4.2 percent in 2010 to 3.6 percent in 2011, whereas population growth rate continued to be high at 2.9 percent.

In the 2011 the GDP was Tshs 37.5 trillion at current prices. With an estimated population 0f 43.2 million people for Mainland Tanzania in 2010 and 44.5 million people in 2011 per capita income for 2011 was Tshs 869,437.3 compared to Tshs 770,464.3 in 2010 equivalent to an increase of 12.8 percent in per capita income.

The annual average inflation rate rose from 5.5 percent in 2010 to 12.7 percent in 2011.

The annual inflation rate which excludes food and energy for the year ended April 2012 rose to 9.0 percent compared to 5.7 percent in April 2011.

This is attributed to the rise in the price of oil, transport costs and imported inflation from the trading partners particularly China and India.

The annual inflation rate for food increased to 24 percent in the year ended April 2012 compared to 9.2 percent in year ended April 2011. The annual inflation rate for energy increased from 22.1 percent registered in year ended April 2011 to 24.9 percent in April 2012.

Overall the average lending rate charged by commercial banks decreased slightly to 14.21 percent in December 2011 from 14.92 percent in December 2010.

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Posted by monfinance on July 3, 2012 in Uncategorized

Tags: Africa Economy, Economic Growth, GDP, IMF, Tanzania Budget 2012/2013, Tanzania budget excerpts, Tanzania Economy, Tanzania Exchange rate, Tanzania lending rates, World Economy

Twiga Bancorp kufanya kazi Masaa 24

02 Jul

UONGOZI wa Benki ya Twiga Bancorp umesema tawi lake la Uwanja wa Ndege wa Kimataifa wa Julius Nyerere jijini litaendelea kutoa huduma kwa saa 24 kila siku ili kukidhi mahitaji ya wateja.

Ofisa Mtendaji Mkuu wa Benki ya Twiga Bancorp, Hussein Mbululo amesema hayo hivi karibuni wakati akizungumzia tuzo ambayo benki hiyo ilipokea kutoka Kampuni ya Kimataifa ya Business Initiative Directions ya Geneva, Uswisi.

Alisema benki hiyo yenye matawi Dar es Salaam, Arusha, Mwanza na Dodoma, inaendelea kujitanua kwa kufungua tawi moja mkoani kila mwaka.

Alisema hivi karibuni itafungua tawi mkoani Dodoma. “Tawi la Uwanja wa Ndege wa Kimataifa wa Dar es Salaam, linaendelea kuvunja rekodi ya kufunguliwa kwa saa 24 kwa siku zote saba za wiki,” alisema Mbululo.

Alisema mtandao wa huduma kwa benki hiyo umeimarika kutokana na kadi zake za ATM kuunganishwa na mtandao wa Umoja unaoziunganisha benki zaidi ya 24, zikiwa na mtandao wa zaidi ya mashine 160 nchini. A

kizungumzia tuzo ya Century International Gold Quality waliyoipata, alisema huduma ya ‘Money gram’ wanayotoa ndiyo imewezesha kuipata.

Alisema huduma hiyo inawawezesha Watanzania na watu wa mataifa mengine kutuma fedha nje kwa dakika chache. “Walieleza kuridhishwa na huduma zetu kufikia kiwango cha ubora wa juu lakini pia walieleza kuridhishwa na ubunifu tunaoendelea kuufanya katika kuboresha huduma za kibenki nchini ukilinganisha na benki nyingine,” alisema Mbululo.

Kwa mujibu wa Mbululo, kupitia huduma za Money gram mtu anaweza kutuma fedha kwa mtu aliye nje ya nchi na kuzipata ndani ya dakika tano.

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Posted by monfinance on July 2, 2012 in Tanzania News

Tags: Business Initiative Directions, Century International Gold Quality, Julius Nyerere International Airport, Tanzania, Tanzania Banking, Tanzania Economy, Twiga Bancorps

Utajiri wa gesi Tanzania sawa na bajeti ya Miaka 40

02 Jul

TANZANIA ina gesi yenye thamani ya Sh trilioni 626.71, fedha ambazo zinaweza kutosheleza bajeti ya nchi kwa zaidi ya miaka 40 ijayo.

Fedha hizo zinatosha kwa bajeti kuu kwa miaka hiyo iwapo itakuwa Sh trilioni 15 kama ilivyo bajeti ya mwaka huu wa fedha unaoanza Julai mwaka huu.

Waziri wa Nishati na Madini, Profesa Sospeter Muhongo akijibu hoja mbalimbali za wabunge kuhusiana na Bajeti ya Ofisi ya Waziri Mkuu , alisema Tanzania ina gesi za ujazo wa futi trilioni 26.99 hadi sasa ambayo ni sawa na mapipa ya mafuta bilioni 4.86.

“Mapipa hayo nikipiga hesabu kwa pipa moja dola za Kimarekani 86 ni sawa na thamani ya gesi yetu dola za kimarekani bilioni 400.81 ambazo ni sawa na Sh trilioni 626.71 ikiwa dola moja ya Kimarekani Sh 1,500 ilivyo sasa,” alisema Waziri huyo.

Alisema hadi sasa zimeshatumika dola za Kimarekani milioni 840 kwa ajili ya utafiti, majaribio na malipo ya mshauri kuhusiana na uchimbaji wa gesi.

Muhongo alisema kabla ya mwisho wa mwaka huu Serikali italeta bungeni muswada wa sheria ya gesi na pia sera ya gesi kwa sasa inatengenezwa ambapo alisisitiza kuwa wataenda katika mikoa ya Lindi na Mtwara kukusanya maoni ya wananchi.

Akizungumzia kuhusu mgodi wa makaa ya mawe wa Kiwira, alisema Serikali imetenga Sh bilioni 40 kwa ajili ya kuuchukua mgodi huo moja kwa moja.

Hadi Novemba mwaka jana mkopo wa mgodi huo ulikuwa Sh bilioni 32.24. Mgodi huo una makaa ya mawe tani milioni 50.94.

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Posted by monfinance on July 2, 2012 in Finance,Taxation and Investment, Tanzania News

Tags: Bungeni, Dodoma, Gesi, makaa, Prof.Muhongo, Songosongo, Tanzania, Tanzania Economy

Taasisi za fedha Zikiongezeka kiwango cha riba kitapungua – Dk. William Mgimwa

29 Jun

DODOMA:

WAZIRI wa Fedha, Dk William Mgimwa amesema kiwango cha riba kinachotozwa na taasisi za fedha zikiwamo benki nchini, zitapungua pindi taasisi hizo zitakapoongezeka.

DK. William Mgimwa, MP

“Sisi Serikali tunatazamia wakopeshaji hawa waongezeke ili waweze kushindana na riba ishuke”, alisema Dk Mgimwa wakati akijibu swali la nyongeza la Mbunge wa Kisesa, Luhaga Mpina (CCM) aliyehoji kwamba wastani wa riba katika benki ni asilimia 33 hali isiyomsaidia mwananchi.

Waziri huyo alisema mkopeshaji yeyote anatoza riba kwa kuangalia gharama ya kupata fedha, uwezo wa mkopaji, hatari kwa wakopaji, usalama wa mkopo na faida.

Akijibu swali la Mbunge wa Viti Maalumu, Clara Mwatuka (CCM), aliyetaka kusikia kauli ya Serikali kuhusu riba kubwa wanayotozwa wananchi kutokana na fedha zao kuweka benki, Naibu Waziri wa Fedha, Saada Mkuya Salum alisema viwango hivyo vya juu vinatokana na Sera yenyewe ya Taifa ya taasisi ndogo za fedha ambayo inasema riba itapangwa na asasi husika bila kuingiliwa na Serikali, Benki Kuu wala wafadhili.

Hiyo inatokana na asasi, zinafahamu gharama za uendeshaji, usalama wa mikopo na mbinu za biashara.

Hizo hujumuishwa kwa pamoja katika kufanya maamuzi wakati wa kupanga viwango vya riba. Alisema Serikali ipo katika hatua nzuri ya kuboresha masijala ya ardhi ili kurahisisha upatikanaji wa hati za viwanja/mashamba zitakazoweza kutumiwa na wakopaji kama dhamana na hivyo kupunguza riba inayotozwa.

“Mkakati mwingine ni pamoja na kuweka mfumo wa kusimamia taasisi zinazokopesha kwa kutumia fedha zao wenyewe. Benki Kuu inaandaa mfumo wa kuelimisha jamii juu ya mambo yanayohusu fedha na mikopo, hii itasaidia kuondoa hali ya wananchi kutozwa riba kubwa kwa kukosa tu uelewa wa masuala ya mikopo, riba na mikataba ya mikopo,” alisema Naibu Waziri huyo.

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Posted by monfinance on June 29, 2012 in Tanzania News

Tags: Banking in Tanzania, Dodoma, Dr.William Mgimwa, Saada Mkuya, Tanzania budget, Tanzania Economy

Kutoka Dodoma: Mbunge Ataka Vigogo Wauziwe Mashangingi

28 Jun

MBUNGE wa Viti Maalum, Martha Mlata (CCM) amesema, magari ya Serikali yanatumiwa vibaya hivyo yauzwe kwa watumishi wa umma ili kupunguza matumizi yasiyo na tija.

Mbunge huyo amesema, Serikali itumie waraka uliotolewa wakati wa Serikali ya Awamu ya Pili kuyauza magari hayo kwa watumishi, na kwamba, kila anayestahili apewe gari kulingana na kazi anazofanya na wadhifa wake.

“Nilikuwa najiuliza, waraka ule ulifutwa au umepitwa na wakati? “ ameuliza Mbunge huyo bungeni mjini Dodoma wakati anachangia bajeti ya Ofisi ya Waziri Mkuu.

Kwa mujibu wa Mbunge huyo, licha ya Serikali kutoa waraka huo, magari ya Serikali yalitumika kufanya kazi binafsi za watumishi wa umma, na zikaandaliwa bajeti za kununua magari mengine ya Serikali.

Mlata amesema, itakuwa busara kama Serikali itayauza magari hayo kupunguza matumizi ya Serikali na amedai kuwa Tanzania ni nchi pekee Afrika Mashariki inayotumia magari isivyostahili.

Mbunge huyo ameliembia Bunge kuwa, huwa anasikia aibu wakati wa sherehe za kitaifa, kwa kuwa mabalozi wa nchi wahisani huwa wanakwenda uwanjani wakiwa kwenye gari la pamoja lakini viongozi Watanzania huwa wanashindana kwa magari.

Mbunge wa Musoma Mjini, Vincent Nyerere (Chadema) amesema, uamuzi wa Serikali, kuweka ukomo wa ukubwa wa injini za magari yanayoweza kununuliwa na Serikali Kuu, taasisi zake na mamlaka za Serikali za Mitaa hautakuwa na tija kama magari ya kifahari yaliyopo sasa hayatauzwa.

“Haya yangeuzwa halafu tukanunua mengine” amesema Nyerere bungeni mjini Dodoma wakati anachangia bajeti ya ofisi ya Waziri Mkuu.

Waziri Mkuu, Mizengo Pinda, ametangaza bungeni uamuzi wa Serikali kuweka ukomo huo ili kupunguza matumizi yasiyo na tija.

Pinda, amelieleza Bunge kuwa, Serikali inaendelea kupunguza matumizi hayo hasa ununuzi wa magari makubwa na ya kifahari ambayo gharama za ununuzi na uendeshaji ni kubwa sana.

Waziri Mkuu amewaeleza wabunge kuwa, kuanzia sasa magari yatakayonunuliwa ni yale yasiyozidi ukubwa wa injini wa CC 3,000 kwa viongozi na watendaji wakuu na yasiyozidi CC 2,000 kwa watumishi wengine wanaostahili kutumia magari ya serikali.

Kwa mujibu wa Pinda, ili kupunguza matumizi ya magari kwa viongozi na watendaji wakuu kwa safari za mikoani, Serikali itaanzisha vituo vya kanda vya magari ya serikali yatakayotumika mikoani kwa shughuli za kikazi.

“Mwongozo wa utekelezaji utatolewa. Inategemewa kuwa utaratibu huu utapunguza matumizi ya fedha za Serikali kwa kiwango kikubwa” amesema Pinda bungeni mjini Dodoma wakati anasoma mapitio na mwelekeo wa kazi za Serikali na makadirio ya matumizi ya fedha ya Ofisi ya Waziri Mkuu na Ofisi ya Bunge kwa mwaka wa fedha 2012/2013.

Mbunge wa Nyamagana, Ezekiel Wenje (Chadema), amesema, kuna watanzania wanaishi kama wafalme na kuna matumizi yasiyo ya kawaida serikalini.

Wenje amehoji, wakuu wa mikoa yote nchini wamekwenda Dodoma kufanya nini? Zimetumika fedha nyingi kuwasafirisha, wanalipwa fedha za safari na wanakaa bungeni ‘kula kiyoyozi’ bila sababu za msingi.

Kwa mujibu wa Wenje, wakuu wa mikoa wapo Dodoma tangu Jumamosi iliyopita, na wameacha kazi walipotoka.

“Wakuu wa mikoa wamekuja kufanya nini? Wamekuja kutafuta nini, wamekuja kutafuta nini?” amehoji Wenje na kusema, Serikali inapaswa kubadili mbinu za kiutendaji.

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Posted by monfinance on June 28, 2012 in Tanzania News

Tags: Bunge la Bajeti, CCM, Chadema, Dodoma, Martha Mlata, musoma, Tanzania Budget 2012/2013, Tanzania Economy, Vicent Nyerere

Kutoka Bungeni: Gesi Kuwakomboa Watanzania – Simbachawene

26 Jun

NISHATI ya gesi ina nafasi kubwa kuibadili Tanzania kwa haraka endapo itatumika ipasavyo, Bunge limeelezwa.

Huge Gas Discoveries Offshore Tanzania

Naibu Waziri wa Nishati na Madini, George Simbachawene, amewaeleza wabunge kuwa, watanzania wanapaswa kumshukuru Mungu kwa kuwajalia gesi kwa kuwa itabadili maisha ya watu, itawezesha kupatikana mbolea, kuongeza kasi ya utekelezaji wa sera ya kilimo Kwanza, na kuiwezesha nchi kupata umeme wa kutosha.

Simbachawene ameyasema hayo bungeni mjini Dodoma wakati anajibu maswali ya nyongeza ya Mbunge wa Viti Maalum, Amina Nassoro Makilagi, ni lini gesi itawanufaisha Watanzania hasa wanawake na vijana, na Serikali ina mikakati gani kuhakikisha makundi hayo yanashiriki kuchimba nishati hiyo badala ya kuwa watazamaji tu.

Awali wakati anajibu maswali ya msingi ya Mbunge huyo, Simbachawene alisema, Serikali kupitia Wizara ya Nishati na Madini ipo katika hatua za mwisho za kuandaa sera, sheria na mpango kabambe wa matumizi ya gesi.

“Wizara inashirikiana na Mshauri Mwelekezi taasi ya Research on Poverty Alleviation (REPOA) kwa ajili ya kupitia rasimu ya Sera ya Gei asili. Mshauri mwelekezi huyo ameanza kazi tangu mwezi Mei, 2012 na anatarajia kukamilisha kazi hiyo mwezi Septemba, 2012” amesema Simbachawene.

Kwa mujibu wa Simachawene, kwa kuwa rasimu ya sheria ya gesi iliandaliwa hata kabla ya kuwepo kwa Sera ya Gesi, Wizara inakusudia kuiangalia upya rasimu hiyo ili kujiridhisha kuwa haikinzani na Sera mpya ya gesi asili.

“Hiyo inategemewa kuwa Muswada wa Sheria ya Gesi asili utakuwa tayari kuwasilishwa bungeni mwezi mmoja baada ya Sera ya Gesi Asili kukamilika”amesema.

Simbachawene amesema, watalaamu kutoka Wizara ya Nishati na Madini na Shirika la Maendeleo ya Petroli (TPDC) kwa kushirikiana na Mshauri mwelekezi kutoka Trinidad and Tobago, wapo katika hatua za mwisho za kukamilisha rasimu ya mpango kabambe wa matumizi ya gesi na kwamba, unatarajiwa kukamilika sambamba na Sera ya Gesi asili.

Waziri Mkuu, Mizengo Pinda amelieleza Bunge kuwa, kasi ya utafutaji na ugunduzi wa gesi asilia imeongezeka na kwamba, hivi karibuni kampuni zinazofanya utafiti wa gesi asilia nchini zimegundua kiasi kikubwa cha nishati hiyo chenye ujazo wa trilioni 3.

“Gesi hiyo imegundulika kwenye kina cha maji marefu baharini takriban kilomita 80 kutoka nchi kavu mashariki mwa mkoa wa Lindi. Ugunduzi huo unafanya kiasi cha gesi kilichogundulika hadi sasa kwenye kina cha maji marefu baharini kufikia futi za ujazo trilioni 20.97” amesema Pinda wakati anawasilisha bungeni mapitio na mwelekeo wa kazi za Serikali na makadirio ya matumizi ya fedha ya Ofisi ya waziri Mkuu na Ofisi ya Bunge kwa mwaka wa fedha 2012/2013.

Pinda amesema, Serikali imejipanga kuhakikisha kwamba taifa linanufaika kikamilifu na ugunduzi wa rasilimali hiyo, na kwamba, itawawezesha vijana nchini kupata mafunzo maalum yanayohusiana na masuala ya gesi asilia ili Tanzania iwe na wataalam wazalendo waliobobea katika sekta hiyo kama ilivyoainishwa kwenye Mpango wa Maendeleo wa Taifa wa miaka mitano.

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Posted by monfinance on June 26, 2012 in Tanzania News

Tags: Cabinet, Dodoma, gas discoveries, Gas reserves offshore Tanzania, Gas reserves Tanzania, madini, Mizengo Pinda, poverty alleviation, Simbachawene, Tanzania budget, Tanzania Economy, Tanzania Gas

Easy Jet To Launch a low-Cost Airline in Africa – Tanzania included

19 Jun

Photo by: www.airliners.net

Sir Stelios Haji-Ioannou, the founder of EasyJet, is set to launch a low-cost airline in Africa this year after taking a 5% stake in a new venture.

The easyGroup tycoon, who is embroiled in a long-running boardroom battle with easyJet, is backing a carrier that will operate under his Fastjet airline and be run by former easyJet executives.

Fastjet will operate from Kenya, Tanzania, Ghana and Angola. The ambition is to carry more than 12 million passengers a year, from the 500,000 at present, by cashing in on demand for regional travel from a burgeoning African middle-class.
EasyJet remained tight-lipped about the move, referring queries to a statement made last year that said the Luton-based airline would take “necessary action” if Fastjet infringed its rights.

However, Ed Winter, Fastjet’s chief executive-in-waiting and formerly easyJet’s chief operating officer, said the airline would avoid antagonising its European peer. “We have been 100% careful. We are absolutely aware of the agreement, and so is Stelios, and we are not infringing it in any way,” he said.

Under the terms of Wednesday’s announcement, an Aim-listed cash shell company called Rubicon has bought the aviation arm of Lonrho, an ancestor of the pan-African conglomerate formerly run by Tiny Rowland, in a deal worth $85.7m (£55m).
As part of the deal, Easy Group will own 5% of Rubicon, and the airline will use Lonrho Aviation’s network. It will operate from the Lonrho hubs in the four African countries. Operating as Fly 540, Winter said a 12-million passenger target was feasible.

“If you take the four countries, they have a total population of 100 million people. If you estimate that all our customers come from just those countries alone, you could see three million of them becoming customers with us, flying a couple of times a year. That would generate something like 12.8 million passengers [annually].”

Winter said Fastjet would launch towards the end of the summer but not use its fleet of 10 turboprops and small jets. Instead it would seek to lease larger modern jets like the Boeing 737 or Airbus A319.

The Guardian newspaper, London

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Posted by monfinance on June 19, 2012 in International News

Tags: aviation, Business News, Easy jet, easyjet, Kenya, lonrho, low cost airline, shell company, Tanzania, Tanzania Airline, Tanzania Economy, transportation, Uganda

Kutoka Bungeni : Zitto on Government Budget

19 Jun

MFblog Inaendelea kuleta matukio yanayoendelea Mjini Dodoma katika kipindi hiki cha kikao cha Bunge cha bajeti. “ALL EYES ON DODOMA-BUNGENI”

Mh. Zitto Kabwe

WAZIRI Kivuli wa Fedha Kabwe Zitto amewasilisha bungeni bajeti mbadala ya Kambi ya Upinzani kwa mwaka wa fedha 2012/2013.
Zitto amebainisha kasoro nyingi zilizopo katika bajeti ya Serikali iliyowasilishwa bungeni Alhamisi iliyopita.
Bajeti ya Zitto ilitanguliwa na hotuba ya Msemaji Mkuu wa Kambi ya Upinzani kuhusu Ofisi ya Rais – Mipango, Christina Mughwai ambaye pia alibainisha alichokiita udhaifu wa Serikali katika kuitekeleza mipango yake ya kiuchumi.
Zitto ambaye pia ni Naibu Kiongozi wa Upinzani Bungeni katika hotuba yake alisema mapato ya Serikali yanaweza kuongezwa kwa Sh2.885 trilioni, hivyo kupunguza utegemezi wa mikopo ya kibiashara ambayo imekuwa ikiligharimu taifa kiasi kikubwa cha fedha. Vyanzo vya kodi na kiasi cha fedha kwenye mabano alivyopendekeza ni marekebisho ya kodi za misitu ukiwemo mkaa (Sh130.8 bilioni), kupunguza misamaha ya kodi, kuzuia ukwepaji kodi na udanganyifu wa biashara ya nje (Sh742.74 bilioni), mauzo ya hisa za Serikali (Sh415.55 bilioni), Marekebisho ya kodi Sekta ya Madini na asilimia 25 ya Mauzo ya Madini Nje (Sh578.36 bilioni) na Marekebisho ya Kodi na Usimamizi bora wa Mapato Kampuni za Simu (Sh502.26 bilioni).

Mapendekezo mengine ni Marekebisho ya Kodi ya Tozo ya Kuendeleza Stadi (Sh243.52 bilioni), mapato ya wanyamapori (Sh61.64 bilioni), kuondoa msamaha wa ushuru wa mafuta kwa kampuni za madini (Sh44.9 bilioni), Usimamizi wa mapato ya utalii (Sh51.75 bilioni), Kuimarisha biashara Afrika Mashariki (Sh 114.15 bilioni).

Zitto alisema kama wapinzani wangekuwa madarakani wangekusanya kiasi cha Sh15 bilioni sawa na ile ya Serikali, lakini tofauti ni hatua ya kutenga asilimia 35 ya mapato ya ndani kwa ajili ya utekelezaji wa miradi ya maendeleo na kupunguza utegemezi wa bajeti kutoka asilimia 42.37 za Serikali hadi asilimia 21.3.

Amesema, Serikali haipaswi kuendelea kukopa, kwani taarifa rasmi za kibenki na ukaguzi wa hesabu zinaonyesha kwamba deni hilo linakua kwa kasi tofauti na maelezo ya Serikali kwamba linahimilika.

“Taarifa ya Mdhibiti na Mkaguzi Mkuu wa Hesabu za Serikali inaonyesha kuwa Deni la Taifa linazidi kuongezeka kwa asilimia 38 kutoka Sh10.5 trilioni mwaka 2009/2010 hadi Sh14.4 trilioni 2010/2011. Kwa mujibu wa Waziri wa Fedha, Deni la Taifa limefikia Sh20.3 trilioni mpaka ilipofika mwezi Machi mwaka 2012,”

alisema Zitto na kuongeza: “Ukisoma taarifa ya Mwezi wa Mei 2012 ya Benki Kuu ya Tanzania, Deni la Taifa sasa limefikia Sh22 trillion. Suala hapa sio ustahmilivu wa Deni kama inavyodai Serikali, bali ni kwamba tunakopa kufanyia nini?”

Alisema hesabu za bajeti ya Serikali ya 2012/13 inayopendekezwa zinaonyesha kwamba Serikali bado ina mpango wa kukopa kwa ajili ya kugharamia matumizi ya kawaida ambayo hayazalishi wala kutozwa kodi. “Hatutaki mikopo kwa ajili ya matumizi ya kawaida ya posho, kusafiri, magari n.k. Tuchukue mikopo kuwekeza kwenye miradi itakayokuza uchumi na kuzalisha kodi zaidi,” alisema.

Kuhusu mfumuko wa bei, Zitto alikosoa hatua zinazopendekezwa na Serikali kukabiliana nao, kwamba ni zile zilizoshindwa katika mwaka wa fedha unaoishia Juni 30, mwaka huu. Alisema hatua hizo ambazo ni kutoa vibali kwa wafanyabiashara vya kuagiza mchele na sukari bila kutoza kodi, haziwezi kusaidia kwa kuwa hatua kama hizo zilipochukuliwa awali zilisababisha bei ya bidhaa hizo kuongezeka. “Baada ya hatua hii bei ya sukari ilipanda kutoka Sh1,700 mpaka 2,800 kwenye maeneo mengi nchini… Serikali inachukua hatua zile zile kwa tatizo lile lile ikitegemea matokeo tofauti,” alisema Zitto.

Alirejea pendekezo la mwaka jana kwa Serikali kutoa vivutio kwa wakulima wadogo kuzalisha chakula kwa wingi akisema kuwa hatua hiyo pekee ndiyo itapunguza mfumuko wa bei. “Hakuna mbadala wa kudhibiti mfumuko wa bei zaidi ya kuongeza uzalishaji wa chakula na kuwekeza kwa wananchi wetu.

Serikali inafikiria uzalishaji utaongezeka kwa kusaidia wakulima wakubwa ambao watageuza wananchi wetu kuwa manamba na vibarua ndani ya nchi yao,” alisema na kuongeza: “Tuwekeze kwa watu wetu vijijini ili waongeze uzalishaji na kwa kufanya hivyo mfumuko wa bei ya chakula utakuwa historia. Hakuna mwarobaini wa kupanda kwa bei za vyakula isipokuwa kilimo”.

MF: Well done Zitto; Tunaendelea Kufuatilia yanayoendelea Dodoma kwa Ukaribu.

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Posted by monfinance on June 19, 2012 in Tanzania News

Tags: Bajeti ya Tanzania, Bajeti ya Tanzania 2012, Bajeti ya Upinzani, monfinance Blog, Tanzania budget, Tanzania Economy, Tanzania Revenue Authority., Taxation, Zitto Kabwe

Kutoka Bungeni: Misamaha ya Kodi Kupunguzwa

19 Jun

Dodoma, Tanzania

WIZARA ya Fedha imesema, Serikali ina lengo la kupunguza misamaha ya kodi ili isizidi asilimia moja ya pato la taifa.

Naibu wa Fedha Ms.Saada Mkuya,Mb.

Naibu Waziri wa Fedha, Saada Mkuya Salum ameliambia Bunge mjini Dodoma kuwa, Serikali inaendelea kupitia baadhi ya sheria za misamaha ya kodi ili kuangalia kama bado zina manufaa kwa umma.

Amesema, ili kutimiza azma hiyo, Mamlaka ya Mapato (TRA) kupitia mfuko wa dhamana wa ushauri wa sera na usimamizi wa kodi ulioanzishwa na Shirika la Fedha la Kimataifa (IMF) inafanya uchambuzi wa kina wa kuangalia sheria na kanuni za misamaha ya kodi.

Kwa mujibu wa kiongozi huyo wa Serikali, uchambuzi huo utaleta mapendekezo ya kuiondoa misamaha yote isiyo na maslahi na tija kwa taifa.

Salum amesema, mwaka ujao wa fedha, Serikali imechukua hatua za kurekebisha sheria mbalimbali za kodi kwa nia ya kupunguza misamaha na kuzuia mianya ya ukwepaji kodi.

Alikuwa akijibu swali la Mbunge wa Viti Maalumu Amina Abdulla Amour (CUF) aliyetaka kufahamu ni lini Serikali itapunguza misamaha yakodi hadi kufikia chini ya asilimia moja ya pato la taifa kutokana na kuwa kero kwa muda mrefu kwa taifa kukosa fedha na mapato kwa ajili ya maendeleo.

“Sisi pale wizarani tumeamua kulivalia njuga suala hili, tutaifanya kazi hiyo na tunaomba tupewe muda kwani jambo hili haliwezi kufanyika kwa mara moja,” alisema.

Wakati huo huo, Salum alisema Benki ya Wanawake inaweza kushiriki katika mpango wa kukopesha na kusimamia fedha za mabilioni ya Rais endapo inahitaji kufanya hivyo na taasisi zingine za fedha ambazo zimekidhi vigezo vilivyowekwa.

Alitaja vigezo hivyo kuwa ni pamoja na uwezo wa kuhudumia vijijini, kuwa na mizani nzuri za hesabu na uzoefu katika kuhudumia wajasiriamali wadogo.

Alisisitiza kuwa walengwa wa mfuko wa mabilioni ya Rais ni vijana, wazee, wanawake vijijini na mijini ambao wanafanya shughuli katika kuhudumia wajasiriamali wadogo.

Alikuwa akijibu swali la Mbunge wa Viti Maalumu Faida Mohamed Bakar (CUF) ambaye alihoji kama Serikali inakubaliana naye kwamba sasa ni wakati muafaka wa kuhamisha fedha za mkopo wa mabilioni ya Kikwete na kutumika katika Benki ya Wanawake ili wananchi wapate mikopo.

Wakati huohuo, Kamati ya Kudumu ya Bunge ya Fedha na Uchumi, imeafiki maeneo mengi ya kodi na tozo mbalimbali yaliyopendekezwa na Serikali kufanyiwa marekebisho, lakini ikasisitiza umuhimu wa nidhamu ya matumizi ya Serikali na uwezo wa kuongeza mapato.

Mbali na hayo, Kamati hiyo ilieleza kutoridhishwa na Serikali katika kasi ya kushughulikia misamaha ya kodi.

“Kamati inaishauri Serikali kuonesha dhamira ya kweli kufanikisha lengo hilo (la kuimarisha taratibu za kukusanya mapato pamoja na kupunguza misamaha ya kodi) na kutoa taarifa ya utekelezaji mbele ya Kamati Januari 2013,” amesema Mwenyekiti wa Kamati hiyo, Andrew Chenge.

Chenge alikuwa anawasilisha taarifa ya Kamati yake kuhusu hali ya uchumi wa Taifa kwa mwaka 2011 na Mpango wa Maendeleo wa Taifa kwa mwaka 2012/13 pamoja na tathimini ya utekelezaji wa Bajeti ya Serikali kwa mwaka 2011/12 na mapendekezo ya mapato na matumizi ya Serikali kwa 2012/13.

“Kamati inaendelea kushauri kwamba Serikali iachane na mtindo wa kuibua matumizi mapya yasiyo ya dharura ambayo hayakuidhinishwa na Bunge wakati wa utekelezaji wa bajeti”

“Mtindo huo unavuruga bajeti na kupunguza uwezo wa kutoa fedha za matumizi mengineyo (OC) na matumizi ya maendeleo kama ilivyokusudiwa. Kamati inasisitiza umuhimu wa Serikali kubana matumizi kwa kupunguza matumizi yasiyo ya lazima,” amesema Chenge.

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Posted by monfinance on June 19, 2012 in Tanzania News

Tags: Bajeti ya Tanzania, Bajeti ya Tanzania 2012, monfinance, monfinance Blog, Saada Mkuya, Tanzania, Tanzania budget, Tanzania Economy

Bajeti ya Tanzania: Asilimia 80 ya mapato ya ndani yakusanywa kufikia April 2012.

18 Jun

MAKUSANYO ya mapato ya ndani yamefikia Sh bilioni 5,684.5 kufikia Aprili mwaka huu ikiwa ni sawa na asilimia 80 ya makadirio ya mwaka 2011/12.

Waziri wa Fedha, Dk William Mgimwa ameliambia Bunge wakati akiwasilisha makadirio ya mapato na matumizi ya Serikali kwa mwaka wa Fedha 2012/13.

Kwa mujibu wa Dk Mgimwa, makadirio yalikuwa ni kukusanya Sh bilioni 7,126.4 kwa mwaka wa fedha 2011/12 ambao unafikia kikomo Juni 30, 2012.

Aidha, alisema makusanyo ya kodi yalifikia Sh bilioni 5,227.5 ambayo ni sawa na asilimia 84 ya makadirio ya kukusanya Sh bilioni 6,228.8.

“Kulingana na mwenendo wa makusanyo ya mapato ya kodi kwa kipindi cha miezi kumi ya mwaka 2011/12, hadi kufikia mwishoni mwa mwaka wa fedha 2011/12, Serikali inatarajia kukusanya jumla ya shilingi bilioni 6,307.8 na hivyo kuweza kufikia lengo tuliojiwekea,” alisema Dk Mgimwa.

Kuhusu mapato yasiyotokana na kodi, Waziri wa Fedha alisema yamefikia Sh bilioni 451.6 ikiwa ni sawa na asilimia 83 ya lengo la kukusanya Sh bilioni 547.1 kwa mwaka.

Akizungumzia mapato ya Serikali za Mitaa, alisema yalifikia kiasi cha Sh bilioni 143 sawa na asilimia 40.8 ya lengo la kukusanya Sh bilioni 350.5 kwa mwaka.

“Hadi Juni 2012, Serikali inatarajia kukusanya jumla ya shilingi bilioni 200 kutokana na chanzo hiki ikiwa ni asilimia 57 ya lengo la mwaka,” alisema.

MF: Tutaendelea kupost vipande vipande vya Bajeti ya mwaka 2012/13 mpaka mwisho wa kikao cha bunge cha bajeti. Hii itasaidia kuilewa bajeti hiyo katika kila kipengele.

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Posted by monfinance on June 18, 2012 in Business News, Tanzania News

Tags: Bajeti Tanzania, Budgeting, Tanzania Budget 2012/2013, Tanzania Economy

Mbunge Wa CCM Kuipinga Bajeti

17 Jun

Dodoma, Tanzania – Mwandishi wa MF Blog

MBUNGE wa Kisesa, Luhaga Mpina (CCM) ameapa kuipinga bajeti ya Serikali iliyowasilishwa bungeni mjini Dodoma, kwa maelezo kwamba imejaa ulaji wa wakubwa kupitia posho, warsha na safari zao za nje huku mamilioni ya Watanzania masikini wakifa kwa kukosa matibabu.

Amewaeleza waandishi wa habari kuwa, bajeti hiyo inakiuka azimio la Bunge kwamba kwa kila mwaka wa fedha angalau asilimia 35 itengwe kwa ajili ya miradi ya maendeleo na fedha za matumizi ya kawaida ziwe asilimia 65.

Lakini Mpina ambaye pia ni mjumbe wa Kamati ya Bunge ya Fedha na Uchumi alisema bajeti iliyowasilishwa na Waziri wa Fedha, Dk William Mgimwa, waliipinga kuanzia kwenye Kamati ya Fedha na kuishauri Serikali iibomoe, lakini hawakufanya hivyo.

Mbunge huyo amesema, yuko tayari kufukuzwa CCM akitetea fedha zaidi zitengwe kwa ajili ya miradi ya maendeleo, kwani warsha, sherehe, ununuzi wa samani, magari ya kifahari unaweza kupunguzwa au kuahirishwa ili kuwapa Watanzania maisha bora.

“Hiki ninachofanya si usaliti kwa chama, kwani ninachotetea ni kukisaidia chama chetu kiweze kutekeleza miradi yenye manufaa kwa wananchi na si kutenga fedha nyingi kwa posho na sherehe,” alisema Mbunge huyo.

Akichambua bajeti hiyo, Mpina alisema katika azimio la Bunge iliazimiwa kitengwe kiasi kisichopungua Sh trilioni 2.7 kutoka mapato ya ndani na zielekezwe kutekeleza mpango huo.

“Hivyo bajeti ambayo imewasilishwa na waziri si sahihi kwa mujibu wa mpango wa maelekezo ya Bunge,” alisema.

Akitoa mfano wa ulaji huo, Mbunge huyo alisema mafungu nane tu ya Wizara ya Nishati na Madini na Fedha yameongezwa kiasi cha Sh bilioni 4.8 kwa ajili ya posho na safari za ndani na nje ya nchi, wakati fedha hizo zingepunguzwa na kuelekezwa kwenye miradi ya maendeleo.

Alisisitiza kuwa kitendo cha Serikali kutenga Sh trilioni 2.2 badala ya Sh trilioni 2.7 ambayo ni tofauti ya Sh bilioni 500 kugharimia miradi iliyoainishwa katika mpango huo, kumesababisha miradi mingi kutengewa fedha kidogo na mingine mingi kukosa fedha kabisa, hali ambayo alidai inazorotesha utekelezaji na maana ya kuwa na mpango.

Mpina alisema kibaya zaidi, katika bajeti hiyo mapato ya ndani yameongezeka hadi Sh trilioni 1.5 huku matumizi ya kawaida yakipanda hadi Sh trilioni 1.9 wakati fedha za maendeleo zikipungua na kuwa Sh bilioni 397.8 ikilinganishwa na mwaka wa fedha wa 2011/12.

“Hapa inajidhihirisha kuwa Serikali haina nia ya dhati ya kupunguza matumizi ya kawaida,” alisema Mpina. Alisema kwa kipindi kirefu, imekuwa ikiahidi kupunguza matumizi ya kawaida ili kuongeza kasi ya utoaji huduma na uwekezaji katika sekta zinazokuza uchumi na kupunguza umasikini; lakini hivi sasa pato kuu la Taifa linatumika kuendesha Serikali.

Mpina alisema wakati Serikali ikiendekeza matumizi makubwa yasiyo na tija, Watanzania wanakufa kwa kukosa huduma za tiba, dawa, waganga, maji safi na salama, elimu bora kutokana na upungufu mkubwa wa madarasa, nyumba za walimu, vifaa vya kufundishia na maabara.

Pia miundombinu mibovu ya barabara, umeme na reli, ukosefu wa viwanda vya kuongeza thamani kunakosababisha wakulima kuuza mazao yao kwa bei ndogo, hasa pamba, mkonge, korosho na mifugo.

Alisema mpango wa maendeleo ni mkataba kati ya wananchi na Serikali, lazima wabunge ambao ni wawakilishi wa wananchi waulinde kwa nguvu zote na kwa gharama yoyote.

Alisema kama Serikali ilipata fedha za kufidia benki na wafanyabiashara walioathirika na mtikisiko wa uchumi kwa jumla ya Sh trilioni 1.7 “iweje leo ishindwe kupata Sh bilioni 500 kugharimia yaliyoainishwa katika mpango wa maendeleo?”

Mwenyekiti wa Kamati ya Kudumu ya Bunge ya Fedha na Uchumi, Andrew Chenge alisema ingawa Waziri wa Fedha ameanza kwa mwelekeo mzuri, lakini matumizi ya kawaida ya Serikali yanapaswa kugharimiwa na fedha za ndani.

Mbali ya kusisitiza bajeti ya maendeleo iongezwe hadi asilimia 35, amesema kama Watanzania wanataka uchumi ukue na kuondoka na umasikini, lazima kilimo kibadilishwe na kiwe chenye tija.

“Mwelekeo mzuri, wameanza vizuri,” alisema Chenge ambaye pia ni Mbunge wa Bariadi Magharibi (CCM) aliyepata kuwa Waziri katika Awamu ya Nne.

Mwenyekiti huyo aliyechaguliwa hivi karibuni kuongoza Kamati hiyo ya Bunge, alisema licha ya kuanza vyema yapo mambo ambayo hayakumridhisha katika bajeti.

“Lazima tufanye matumizi ya kawaida kwa kutumia mapato ya ndani. Hili tulilizungumza katika Kamati yetu wakati wa mashauriano na Serikali. Lakini tulisema kwa kuwa Waziri ni mgeni, ndio kwanza ameteuliwa, tumpe muda, ajipange hadi bajeti ya 2013/14,” alisema Chenge.

Alisema ni vyema pia sekta binafsi ikawekewa mazingira mazuri ili kushawishi ukuaji wa uchumi; huku akieleza kwamba tayari kampuni za bia na sigara zimeeleza kusikitishwa na ongezeko la bei katika bidhaa zao.

Kuhusu kilimo, alisema lazima Serikali isaidie kuweka miundombinu bora ya kilimo na kuhakikisha barabara zinapitika wakati wote ili wakulima waweze kutoa mazao yao mashambani na kuyapeleka sokoni.

Alisema si hivyo tu, bajeti inapaswa kulenga watu wa vijijini ambako ndiko waliko asilimia kubwa ambao ni wakulima, ili kuzalisha kwa wingi na kuiwezesha nchi kuwa na uchumi imara.

Mbunge wa Simanjiro, Christopher ole Sendeka (CCM), alisema baadhi ya maeneo, Serikali haijafanya vizuri katika bajeti ikiwamo kutoa nafuu ya kodi kwa kampuni kubwa zikiwamo za madini.

Alisema unafuu huo wa kodi haufai kwa kampuni na viwanda vikubwa, wakati wanapaswa kulipa kodi kubwa.

Aidha, Sendeka alilalamikia kiwango kidogo kilichotengwa kwa umeme, Sh bilioni 400, akisema hazitoshelezi kwa sababu ya gharama kubwa za kukodi mitambo ya kuzalisha umeme zinazobebwa na Shirika la Umeme Tanzania (Tanesco).

Kiongozi wa Upinzani Bungeni, Freeman Mbowe, alitaka Serikali itaje kiasi cha mishahara kilichoongezwa, badala ya kuachiwa waziri wa kisekta, kwa sababu hilo ni moja ya maeneo yanayohitaji uzito.

Aidha, alilalamikia matumizi kuwa makubwa, kutofutwa kwa posho, mfumuko wa bei akisema umejikita katika kuagiza chakula nje na kuanzisha kilimo cha umwagiliaji katika mabonde makubwa nchini.

Mbunge wa Kigoma Kaskazini ambaye pia ni Naibu Kiongozi wa Upinzani Bungeni, Kabwe Zitto alisema bajeti hiyo imejikita zaidi katika mikopo na madeni.

Katika hotuba yake ya Bajeti, Dk Mgimwa alisema katika bajeti hiyo yenye kubeba Sh trilioni 15, asilimia 70 itakuwa kwa matumizi ya kawaida na asilimia 30 kwa matumizi ya maendeleo.

Wakati hayo yakijiri, wabunge wa CCM walikuwa na kikao jana asubuhi; na miongoni mwao walieleza kutoridhishwa ni kutofutwa kwa Kodi ya Ongezeko la Thamani (VAT) katika malighafi za viwanda vya nguo na mavazi.

Mmoja wa wabunge hao wa CCM, alieleza kuwa licha ya Waziri Mkuu Mizengo Pinda kuunda kamati maalumu ya wadau wa sekta ya pamba na viwanda vyake, mapendekezo ya kamati hiyo hakuyazingatiwa katika bajeti.

Mapendekezo yalikuwa ni viwanda kupewa msamaha wa VAT kwenye bidhaa za nguo na mavazi, na ilielezwa kuwa hilo linawezekana kwa sababu kiwango kinachokusanywa sasa ni karibu Sh bilioni moja kwa mwaka.

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Posted by monfinance on June 17, 2012 in Tanzania News

Tags: Bajeti ya Tanzania, Budget, Budget 2012/2013, CCM, Mpina, Tanzania budget, Tanzania Economy

Tanzania Budget 2012/2013 – An Overview

17 Jun

BUDGET OBJECTIVES

Increase Domestic revenues to 18% of GDP in 2012/2013 compared to the likely outturn of 16.9 percent in 2011/2012;
Continue with efforts to curb inflation to a single Digit;
Maintain a stable and market determinedexchange rate;
Increase Access to Financial Services;
Increase real GDP growth rate of 6.8 percent in 2012 from 6.4 percent of 2011;
Increase Credit to private sector to 20% of GDP by end June 2013 in line with measures to curb inflation;
Improve economic infrastructure, including electricity, roads, railways and ports;
Safeguard and sustain achievements realised in the social sector;
Maintain foreign reserves to cover 4.5 months of import of goods and services;
Develop the country’s capability to endure economic and financial crisis and effective participation in regional and international arrangement;
Strengthen public and pricate partneship (PPP) arrangement with the view to widen opportunities for increamenting development projects;
Improve business enviroment for small and medium entreprises and;
Strengthen good governance and counterbility.

SNAPSHOT:

REVENUE Shillings (in Millions)

A. Domestic Revenue 8,714,671

B. Local Govt Auth. (LGAs Own source) 362,206

C. General Budget Support 842,487

D. Foreign Loans and Grants 2,314,231

E. Domestic Borrowing 1,631,957

F. Non-Concessional Borrowing 1,254,092

TOTAL REVENUE 15,119,644

EXPENDITURE

G. Recurrent Expenditure - 10,591,805

- Services 2,745,056

-Wages and salaries 3,781,100

- Other Charges 4,065,649

– Ministries 3,311,399

– Regions 49,701

- LGAs 704,549

H. Development Expenditure - 4,527,839

– Local 2,213,608

– Foreign 2,314,231

TOTAL EXPENDITURE 15,119,644

BUDGET TARGET:

The Government targets to collect domestic revenues (excluding LGA’s own source) amounting to Shillings 8,714.7 billion equivalent to 18% of GDP.

PRIORITY AREAS:

1. Infrastructure

Electricity; Alocating Tshs.498.9 billion and impremetation of gas pipeline construction project from Mtwara to Dar es Salaam.
Transportation; Strengthening Central railways which involve renovation of the train engnes and wagons and development of the port of Lake Tanganyika.
Cean and safe water.
Information and Comunications Technology (ICT)

2. Agriculture, Fisheries and Livestock

Strengthen the implementation of Kilimo kwanza policy.
Industrial Development.
Human resources and social services development.
Tourism.
Financial Services.

3. High Inflation

Tanzania is facing several challenges including high inflation rates which declined from 19.8% in december, 2011 to n18.7% in April, 2012. the main causes of high inflation rates are high eectricity tarrif, high prices of oil and food- especially rice and sugar prices. For example during April 2012 food contributed 24.7% while electricity and fuel contributed 24.9% of inflation. Core Inflation, which includes food and enery prices, is still at singledigit of 8.8%

CHANGES IN TAXES:

1. The Value Added Tax (VAT) Act, Cap 148

Introduction of VAT rate at 10% for selected VAT relieved beneficiaries enjoying special relief under the third schedule of the Value Added Tax Act. To effect private companies, individuals and TIC Certificate holders except those who are enjoying exemptions under the existing agreements. Also to affect Non-Governmental Organizations except those which are providing donations such as food supplies and medicaments to children and orphanage care centers and schools.
Electronic Fiscal devices (EFDs) to be VAT exempt.
Exempt VAT on various equipments that will be used for storage, transportation, and distribution of natural gas (Compressed Natural Gas and piped Natural Gas)

2. The Income Tax Act, Cap 332

Complete income tax exemption provided to individuals with turnover of Tshs. 3,000,000 or less;
Interest earned by non-residents from banks will now be subject to 10% withholding tax. The proposed measure is intended to create a fair playing field to all taxpayers.
Imposing Capital gains Tax on sale of shares of a local company by its parent company or any offshore company. this measure is intended to control tax avoidance malpractice.
Exempting Income tax to Holders of Gaming licences in respect of incomes on which tax has been paid under Gaming Act. Abolishing the exemption that is currently provided under section 54(2) of the Income Tax Act to a resident corporation which holds 25% shares or more so that dividends of the corporation will now be taxed at a reduced rate of 5%.
Adjust PAYE threshold as a result of enhancement of salary scales from Tshs. 135,000 to Tshs. 170,000. Introduce exemption of Income Tax to the Dar es Salaam Stock exchange (DSE)

3. The Excise (Management and Tariff) Act, Cap 147

Abolish Excise duty on Heavy Furnance oil.
introduce Excise Duty on Music and films products (Effective from 1st January, 2013).
Abolish exemption of Excise duty on imported non-utily motor vehicles for all beneficiaries. To introduce excise duty of Tshs.83 per liter on imported fruit juices while locally produced fruit juices will attract excise duty of Tshs.8 per liter.
Amend the fuel levy exemption that was granted during the 2011/2012 budget for the fuel to be used by the oil and gas explorers to introduce to ntroduce excise duty as it was intended.
Soft drinks, beers, spirit, cigarettes and wine duties going up. Excise duty on Natural gas for industrial use at the rate of Tshs. 0.35 per cubic feet.
Increase in Excise duty on Airtime from 10% to 12%

4. The Export Levy Act, Cap 196

Increasingan export duty on raw hides from 40% or Shillings 400 per kilogram to 90% or Shillings 900 per each kilogram, whicheveris greater.

5. The Gaming Act, Cap 41

Increase Gaming Tax for casino from shillings 13% of gross gaming revenue to 15 per cent of gross gaming revenue.
Introduce gaming tax on sports betting at a rate f 6% of the total stakes.
Introduce gaming tax on ‘SMS Lotteries” at a rate 0f 43%
Introduce gaming tax of 15% on internet casino.
Establish clause in the Game of Chance Act which will explicitly state that the Gaming Tax shall be a final tax

6. The Motor Vehicle Registration and Transfer Act, Cap 124

Introduce personalised plate numbers for shillings 5,000,000 for 3 years.
Registration and transfer charges becomes expensive.
Importation of motor vehicles older than 8 years from the year of manufacturer will now be subject to the excise duty of 20%

7. The Airport Departure Service Charges Act, Cap 365

Increase in Airport Service Charges; From USD 30 to USD 40 for International travel and from Tshs. 5,000 to Tshs. 10,000 for local travel.

8. East African Develpment Bank (EADB) Act, Cap 231

Provide immunity status to the properties owned by the bank including houses, deposits, monies, and bank account against legal proceedings, court decisions and nationalizations/acquisitions acts.
Providing corporate status.
Empower the Minister for Finance to implement the decisions of the EADB’s governing board, by amending the schedule to this Act through the Government Notice.
Define the bank’s properties as including its houses, financial deposits entrusted to EADB for supervision.

9. The East African Community Customs management Act, 2004

These are to be implemented across the EAC partner states. The main Objective of the proposed changes is to enhance industrial production, improve transportation, health services, livestock development and communicationn sectors.

Extend the stay of application of CET rate of 35% on wheat grain and apply the CET rate of 0% for the period of one year.
Increase the CET rate on galvanized wire from 0% to 10%.
Split the tarrif line under HS Code 2106.90.91 in order to grant exemption of import duty to nfood supplements and mineral premix used in fortification of food supplements for feeding infants.
Redue the CET rate on set Top Boxes from 25% to 0%.
Reduce the CET rate on electricity from 10% to 0%.
Reduce the CET rate on inner glass flask used in thermos
Split the tariff line under HS Code 8523.80.00 in order to apply the CET rate of 0% on software instead of 25%.
Grant duty remission to soap manufacturers using Palm Stearin, RDB by charging a duty rate of 0% instead of 10%.
Grant duty remission to soap manufacturers using LABSA as raw materials from 10% to 0% for a period of one year.
Reduce the CET rate from 10% to 0% on cathodes and selections of cathodes.
Coninue applying the CET rate of 25% instead of 35% on cement for the period of one year.
Grant duty remission to lubricants producers using castor oil and its fractions as raw material from the CET rate of 10% to 0%.
Split HS Code 7308.90.90 to provide for the road guards rils and apply the CET rate of 10% instead of 25%.
Introduction of exemption of import duty tomachinery and spare parts used in mining activities.
Excludes spare parts of motor vehicles that will be imported by the mining companies.
Refridgerated trailers to be accorded same treatment as refrigirated trucks which are exempt from import duty to encourage distribution of fresh products like milk and meat.
Grant duty remission to producers/manufacturer of medical diagnostic kits.
Grant Exemption of import duty to honey refiners, honey strainers,honey pumps, hive tols, queen rearing equipments and protective gears.
Continue granting exemption of import duty to Armed forces Canteen Orgnization for the period of one year.
Provide duty remission to producers of nutritious food/profducts for feeding infants facing malnutrition and persons suffering from HIV/AIDS in the country.

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Posted by monfinance on June 17, 2012 in Business News, Finance,Taxation and Investment, General Knowledge, Tanzania News

Tags: Budgeting, business, business enviroment, Business News, EADB, economy, gdp growth rate, Inflation rate, real gdp growth rate, Tanzania budget, Tanzania Economy, transportation, Uncategorized

New VAT rate for Selected VAT Relieved Beneficiaries

16 Jun

Dodoma, Tanzania
Ministry of Finance has proposed an introduction of a new VAT rate of 10 per cent for selected VAT relieved beneficiaries.

This measure will compel all beneficiaries enjoying special relief under the third schedule of the Value Added Tax Act to pay VAT for their taxable supplies requirements at a reduced rate of 10 per cent instead of 18 per cent.

The Finance Minister, Dr Mgimwa said those who would be affected, among others, are private companies, individuals and TIC Certificate holders except those who are enjoying exemptions under the existing agreements.

Ministry For Finance Dr. Mgimwa presenting the Budget in Dodoma

Furthermore, it will affect Non Governmental Organizations (NGOs) except those which are providing donations such as food supplies and medicaments to children and orphanage care centers and schools.

Also, Dr Mgimwa asked the house to approve, amending item 19 of the second schedule to the VAT Act in order to include “Electronic Fiscal Devices” in the list of exempt items.

“The measure intends to make the product affordable to the business community and encourage its use for the improvement of compliance,” the finance minister said.

A report dubbed one billion question: How Can Tanzania Stop Losing So Much Tax Revenue, estimates that Tanzania one of the poorest countries in the world is losing around 1 billion US dollars (1.6tr/-) in tax revenue annually mostly through tax evasion, capital flight and tax incentives.

Also, the minister wants to exempt VAT on various equipments (Compressed Natural Gas and Piped Natural Gas) that will be used for storage, transportation, and distribution of natural gas.

This measure is intended to promote the usage of natural gas in various sectors of the economy including motor vehicles, domestic and industrial use.

“The measure is also expected to preserve forests, reduce environmental degradation and encourage production of gas cookers in the country,’ Dr Mgimwa said.

Meanwhile, Minister for Finance and Economic Affairs said yesterday in a bid to implement effectively new finance bill 2012/13 all unproductive and unnecessary expenditures should be avoided.

Dr William Mgimwa said therefore it is important for the ministries, departments, regions and local authorities to give opportunities to the private sector to contribute in building the economy.

“…every citizen is called upon to participate effectively in the utilization of available opportunities by providing services and engaging in productive activities in order to increase income,” the minister told the Parliament when reading the budget.

He said this budget directs investment of national resources in few priority areas with a view to accelerate economic growth and reduction of poverty.

The minister caution follows the fact that in 2011/12 domestic revenues, including revenues from Local Authorities, were below target and donor commitment to budget basket is not delivered on time.

Data show that total collection up to this April reached 5.68tr/- equals to 80 per cent of estimates of collecting shillings 7.13tr/- for year 2011/12.

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Posted by monfinance on June 16, 2012 in Uncategorized

Tags: Budgeting, business, Business News, climate, economy, government, science, Special relief, Tanzania budget, Tanzania Economy, Taxation, transportation, VAT

Serikali ya Tanzania Yatangaza Bajeti ya mwaka 2012/2013

15 Jun

Dr. Mgimwa – Waziri Wa Fedha Tanzania akionyesha mkoba wa bajeti ya serikali kwa mwaka 2012/13

Dodoma, Tanzania: SERIKALI imetangaza bajeti ya shilingi trilioni 15 kwa mwaka wa fedha 2012/2013.

Kwa mujibu wa Waziri wa Fedha, Dk William Mgimwa, pamoja na mambo mengine, bajeti hiyo imelenga kudhibiti mfumuko wa bei kwa kutangaza kutoa vibali vya kuingiza chakula kutoka nje, na kuwabana matajiri kwa kuongeza kodi ya bidhaa zisizokuwa za lazima.

Akisoma bajeti hiyo bungeni mjini Dodoma jana, Dk Mgimwa pia alitangaza kwamba Serikali imepanua wigo wa Kodi ya Mishahara (Paye) na sasa itawagusa wafanyakazi wenye kipato cha kuanzia Sh170,000 badala ya Sh135,000 ya awali.

Amesema, Serikali pia imerejesha mafunzo ya Jeshi la Kujenga Taifa (JKT) kwa kutenga Sh7 bilioni kwa ajili ya kuchukua vijana 5,000.

Dk Mgimwa amelieleza Bunge kuwa, Serikali imeongeza kodi za bidhaa mbalimbali, zikiwemo, bia, soda, sigara, juisi zinazoingizwa kutoka nje na kufuta msamaha wa ushuru wa bidhaa kwa magari kwa wote waliokuwa wananufaika na msamaha huo.

Alifafanua kwamba kodi ya vinywaji baridi imepanda kutoka Sh69 kwa lita hadi Sh83 na mvinyo unaotengenezwa kwa zabibu inayozalishwa nchini kwa kiwango kinachozidi asilimia 75, imeshuka kutoka Sh425 kwa lita hadi 145 kwa lita.

Wabunge wameelezwa kuwa, kodi ya mvinyo unaotengenezwa kwa zabibu inayozalishwa nje ya nchi kwa kiwango kinachozidi asilimia 25, imepanda kutoka Sh1,345 kwa lita hadi 1,614 kwa lita.

Dk Mgimwa amesema, kodi ya vinywaji vikali imepanda kutoka Sh1,993 kwa lita hadi Sh2,392 kwa lita, bia inayotengenezwa nchini kwa nafaka na ambayo haijaoteshwa, kodi yake imepanda kutoka Sh248 kwa lita hadi Sh310 kwa lita. Bia nyingine zote kodi imepanda kutoka Sh420 hadi Sh525 kwa lita.

Kuhusu ushuru wa bidhaa za sigara, Dk Mgimwa alisema, sigara zote zisizo na kichungi na zinazotengenezwa kwa tumbaku inayozalishwa nchini, kiwango cha angalau asilimia 75, kodi imepanda kutoka Sh6,820 hadi Sh 8,210 kwa sigara 1,000.

Alisema Sigara zenye kichungi na zinazotengenezwa kwa tumbaku inayopatikana nchini kwa kiwango cha angalau asilimia 75, kodi imepanda kutoka Sh16,114 hadi Sh19,410 na sigara nyingine zenye sifa tofauti na makundi hayo, kodi imepanda kutoka Sh29,264 hadi Sh35,117 kwa sigara 1,000.

Alisema tumbaku ambayo ipo tayari kutengenezwa sigara (cut filler) kodi yake imepanda kutoka Sh14,780 hadi Sh17,736 kwa bunda la sigara 1,000 wakati ushuru wa cigars unabaki kuwa asilimia 30.

Katika bajeti hiyo, Waziri Dk Mgimwa alisema muda wa maongezi (airtime) kwenye simu za mkononi umeongezeka kutoka asilimia 10 hadi 12.

Alisema lengo la hatua hiyo ni kuoanisha ushuru wa bidhaa unaotozwa na huduma hiyo katika nchi za Jumuiya ya Afrika ya Mashariki (EAC), kwa kipindi hiki ambacho nchi zipo katika Soko la Pamoja.

Alisema hatua hizo za ongezeko la ushuru wa bidhaa kwa pamoja, zinatarajiwa kuongeza mapato ya Serikali kwa kiasi cha Sh144,054.9 milioni.

Waziri huyo alipendekeza kufanyika marekebisho kwenye sheria husika za kodi ya matangazo ya Serikali yanayotoa msamaha wa kodi kwenye magari kwa walengwa mbalimbali ili kuweka ukomo wa umri wa miaka minane kwa magari hayo badala ya miaka 10.

Alisema magari yenye umri wa zaidi ya miaka minane yatatozwa ushuru wa bidhaa wa asilimia 20. Lengo la hatua hiyo ni kupunguza wimbi la uingizaji magari chakavu na kulinda mazingira.

Alitangaza pia marekebisho katika ushuru wa forodha, ikiwemo kufuta msamaha wa ushuru wa forodha katika vitu mbalimbali vikiwemo magari yenye ujazo wa CC 3000 huku pia ushuru wa forodha ukifutwa katika bidhaa nyingine nyingi muhimu.

Alisema katika kuhamasisha na kuchochea ukuaji wa sekta ya ufugaji wa nyuki, vifaa vinavyotumika katika ufugaji na kurina asali vimepewa msamaha wa ushuru wa forodha vinavyoingizwa kutoka nje ya nchi na wafugaji wa nyuki.

Alisema msamaha wa ushuru wa forodha kwenye migahawa ya majeshi ya ulinzi utaendelea kutolewa kwa kipindi cha mwaka mmoja.

Alisema kumefanyika marekebisho katika Sheria ya Forodha ya Jumuiya ya Afrika ya Mashariki ya mwaka 2004 ili kutoa msamaha wa ushuru wa forodha kwa wazalishaji wa vyakula vinavyotengenezwa mahsusi kwa lishe ya watoto wenye utapiamlo na watu wanaoishi na Virusi Vya Ukimwi.

Alisema kuwa katika Bajeti hiyo, pia wametoa msamaha wa ushuru wa forodha kwenye malighafi zinazotumika katika kutengeneza vifaa vya kufanyia uchunguzi wa magonjwa (medical diognastic kits) kwa kuwa vifaa hivyo hutozwa asilimia sifuri vinapoagizwa kutoka nje ya nchi.

Katika marekebisho hayo, utatolewa msamaha kwenye mitambo (machinery) na vipuri vyake vinavyotumika kwenye uchimbaji wa madini lakini hautahusisha vipuri vya magari vitakavyoagizwa na makampuni yanayojihusisha na uchimbaji wa madini.

Katika bajeti hiyo, pia umetolewa msamaha wa ushuru wa forodha kwenye vyuma vinavyowekwa kwenye kingo za barabara na lengo lake ni kutoa unafuu katika ujenzi wa miundombinu ya barabara.

Alisema ushuru wa forodha umepunguzwa kwa ving’amuzi kutoka asilimia 25 hadi asilimia sifuri ili kuwezesha mabadiliko katika teknolojia ya analogia na kwenda katika teknologia ya digitali.

Alisema katika Bajeti hiyo, pia ushuru wa ngano umeondolewa kuwa asilimia 0 badala ya asilimia 35.

Alisema Serikali pia imesamehe VAT katika mashine za kutolea stakabadhi (electronic fiscal devices), ili kupunguza bei yake na kuwezesha wafanyabiashara wengi kuwa nazo, kuhamasisha matumizi yake na hivyo, kuongeza mapato ya Serikali.

Katika eneo hilo, Serikali imeondoa VAT kwa vifaa mbalimbali vya kuhifadhia, kusafirisha na kusambaza gesi asilia ili kuongeza matumizi ya nishati hiyo katika sekta mbalimbali za kiuchumi, kwenye magari, majumbani na viwandani.

Wafanyabiashara ambao mapato yao hayazidi Sh3,000,000 hawatalipa kodi kuanzia Julai Mosi, mwaka huu. Dk Mgimwa alisema mpango huo umefanywa kulinda mapato ya Serikali.

Kabla ya msamaha huo, wafanyabiashara hao ambao mapato yao hayazidi Sh3,000,000 walikuwa wanalipa Sh35,000.

Marekebisho mengine ya kodi ya mapato ni kuwa wenye mapato kati ya Sh3 milioni –Sh7.5 milioni watalipa Sh100,000 badala ya Sh95,000.

Waziri Mgimwa alisema Bajeti hiyo imejielekeza katika Kukuza Pato la Taifa kwa asilimia 6.8 mwaka 2012 ikilinganishwa na ukuaji wa asilimia 6.4 mwaka 2011.

Malengo mengine ni kuimarisha miundombinu ya uchumi, ikijumuisha umeme, barabara, reli na bandari, kuongeza upatikanaji wa huduma za kifedha na kuongezeka kwa mapato ya ndani yatakayofikia uwiano na Pato la Taifa wa asilimia 18 kwa mwaka 2012/13 kulinganisha na mwelekeo wa asilimia 16.9 mwaka 2011/12.

Dk Mgimwa alitaja malengo mengine kuwa ni pamoja na kuendelea kudhibiti mfumuko wa bei ili urudi kwenye viwango vya tarakimu moja na kuwa na kiwango tengemavu cha ubadilishaji wa fedha kitakachotokana na mwenendo wa soko la fedha.

Malengo mengine ni kukuza mikopo kwa sekta binafsi kwa kiwango cha asilimia 20 ya Pato la Taifa ifikapo mwishoni mwa Juni 2013, sambamba na jitihada za kudhibiti mfumuko wa bei, kuboresha mazingira ya wafanyabiashara wadogo na wa kati, kulinda na kuendeleza mafanikio yaliyopatikana katika sekta za huduma za jamii, kuimarisha utawala bora na uwajibikaji na kujenga uwezo wa nchi kukabiliana na misukosuko ya kiuchumi na kifedha pamoja na kushiriki kwa ufanisi katika ushirikiano kikanda na kimataifa.

Kuhusu matumizi ya maendeleo, Waziri Mgimwa alisema itazingatia vipaumbele vya miundombinu ya umeme – mkazo ukiwa upatikanaji wake kwa kuongeza uzalishaji, usafirishaji na usambazaji na jumla Sh498.9 bilioni zimetengwa.

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Posted by monfinance on June 15, 2012 in Business News, Tanzania News

Tags: Bajeti ya Tanzania 2012, Budgeting, Dar es salaam stock Exchange, Dr.William Mgimwa, General Knowledge, monfinance, Tanzania budget, Tanzania Economy, Tanzania Revenue Authority., Taxation

Tanzania Opposition Budget Demands

08 Jun

The opposition has unveiled a list of demands it wants the government to fulfil in the coming budget. They want to see more concetration on raising domestic revenue in the next budget, taming the inflation rate and spearheading national economic growth. The analysis was presented by Mr. Zito Kabwe, MP, who is the shadow minister for finance at Dar es Salaam news conference on Tuesday 05th June,2012.

Mr. Zito Kabwe MP: Kigoma North MP,Shadow Finance Minister

1. Tax Exemptions
The Budget presented by the Shadow finance minister Zitto Kabwe; also asked the government to reduce tax exemptions, widen the tax base on the Skills Development Levy (SDL) and increase revenue collection from mining, oil exploration and mobile phone operators. Mr Kabwe said the government failed to deliver on an earlier promise to reduce tax exemptions from three per cent to one per cent of the Gross Domestic Product (GDP).
“We want explanations from the government and will continue demanding an increase in revenue collection. We also want all tax exemptions to be approved by the finance committee.” said Mr. kabwe in a press conference.
The value of tax exemptions now stands at Sh1.03 trillion, equivalent to three per cent of the GDP—and also the same amount offered by donors in general budget support.Mr Kabwe also wants the Tanzania Revenue Authority (TRA) to collect tax effectively from oil exploration, mining and mobile phone firms, which he accuses of evading taxes.

2. Skills and Development levy (SDL)
On SDL, Mr Kabwe proposes that all employers, including public organisations, pay up at four per cent. Only private organisations pay SDL currently, and at six per cent of salaries.

3. Infrastucture
Hon.Kabwe also identified infrastructure—power and roads, especially in rural areas—as a priority in improving food production and transportation, which will help tame the fluctuation of inflation.There have been concerns that there are plenty of food grains, especially maize, in some parts of the country but they cannot be delivered to other areas due to poor roads.

4. National debt

Mr Kabwe called for a special audit in the national debt account following its rapid increase, reaching Sh22 trillion in April this year. He said: “This is a serious issue that the opposition camp will follow very closely. We will seek clarification and audit the national debt account. We want to know why the government continued to borrow and see if the money goes to targeted expenditures.”

4. Reduction of Import taxes on Food
The opposition budget proposes that the government reduce or remove import tax on food, especially rice, for a specific period in order to tame inflation. Food and non-alcoholic beverages account for 47.8 per cent in the national consumer price index.

On Inflation and Other Issues:
The inflation rate now stands at 18.7 per cent, down from 19.8 per cent last December. “If we improve infrastructure in rural areas, they will attract big economic projects which will employ more youth in the rural areas and push the country’s economy,” added Mr Kabwe.
Other priority areas include rehabilitation of the railway, including the central line, Tanga, Moshi and Arusha railways. The MP also spoke of raising domestic revenue to 20 per cent of the GDP, preparing the nation for the gas economy, reducing pay as you earn for minimum salary from 14 per cent to nine per cent, regulating education and reducing taxes for local industries which use domestic raw materials like cashew nuts, cotton and sisal.
The opposition camp will press for the removal of sitting allowances as it did last year, although the government did not accept the proposal.Mr Kabwe, who is also the chairman of the Parliamentary Committee for Public Organisations Accounts (Poac), said the country may have lost huge sums of money in the transformation of the Presidential Parastatal Sector Reform Commission (PSRC) to Consolidated Holding Corporation (CHC), given the lack of records on the assets of public companies.
The CHC has been asked to compile a list of all assets of public organisations before and after transformation of the PSRC.The Poac has already formed a task force to probe the number of assets that the National Milling Corporation (NMC) had before and after the transformation.

What do you think about the Opposition’s Budget ideas/analysis ; Comments ?

Visit Hon.Zito Kabwe Blog for more Budget analysis: https://zittokabwe.wordpress.com/

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Posted by monfinance on June 8, 2012 in Tanzania News

Tags: Budgeting, business, economy, government, monfinance, Monica Joseph, politics, Tanzania budget, Tanzania Economy, transportation, Zito Kabwe

Hot Waitress Economic Index

24 May

What Does it Mean?

An index that indicates the state of the economy by measuring the number of attractive people working as waiters/waitresses. According to the hot waitress index, the higher the number of good looking servers, the weaker the current state of the economy. It is assumed that attractive individuals do not tend to have trouble finding high-paying jobs during good economics times. During poor economic times, these jobs will be more difficult to find and therefore more attractive people will be forced to work in lower paying jobs such as being waiters/waitresses.

According to http://www.investopedia.com/ ; Hot Waitress Economic Index is a Traditional economic theory contends that employment tends to be a lagging indicator for economic recovery. However, the hot waitress economic index could be a coincident or even a leading indicator for economic recovery because attractive people may be the first group of individuals to find better paying jobs when a bad economy begins to turn around.

Do you think this applies to Developing countries like Tanzania where Unemployent is a huge problem? I will appreaciate your contribution.

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Posted by monfinance on May 24, 2012 in Finance, Economic terms and Buzz Words, Finance,Taxation and Investment

Tags: Economic Index indicators, hot waitress economic index, investopedia, Tanzania Economy

World Leaders Convene to Address Global Crisis of Child Malnutrition at the G8 Summit

18 May

G-8 leaders urged to end child malnutrition in order to stimulate long-term economic

development and greater progress against hunger and poverty

WASHINGTON, D.C. – In advance of the G-8 Summit at Camp David this weekend, U.S and world leaders met on Capitol Hill in Washington, D.C. today to assess efforts to combat child malnutrition—a condition which results in three million preventable child deaths annually and drains billions of dollars in lost productivity and health care costs from poor countries. Participants at the “Scaling Up Nutrition: Calling All Champions” briefing called upon G-8 leaders to prioritize action on child malnutrition as part of their development and food security discussions at the G-8 Summit.

The briefing included President Jakaya Kikwete of the United Republic of Tanzania, high-level officials from the White House, Government of Canada, U.S. Congress, U.S. Department of State, U.S. Agency for International Development (USAID), Millennium Challenge Corporation, World Bank and the World Food Program.

Nearly 200 million children worldwide are chronically malnourished, resulting in huge losses not only in human potential but also economic productivity in some of the world’s poorest countries. “G-8 leaders have the opportunity to change the lives of millions of children by making a bold commitment to tackle malnutrition. Wiping out chronic malnutrition is the best first step toward helping developing countries’ economies,” said Carolyn Miles, President and CEO of Save the Children. “We know that malnutrition can lead to anywhere between a two to three percent loss in GDP” [gross domestic product].

President Obama, along with G-8 and African leaders, is expected to announce on Friday new efforts to advance global agricultural development aimed at addressing hunger and poverty in Africa.

Several speakers noted today, however, that action and investment targeted specifically at improving nutrition for women and children during the critical 1,000 day window between pregnancy and age two would promote even greater long-term progress on hunger and poverty alleviation.

“Good nutrition during the critical 1,000 day window from pregnancy to a child’s second birthday is crucial to developing a child’s cognitive capacity and physical growth. Ensuring a child receives adequate nutrition during this window can yield dividends for a lifetime, as a well-nourished child will perform better in school, more effectively fight off disease and even earn more as an adult,” said Dr. Rajiv Shah, Administrator of the U.S. Agency for International Development (USAID).

“People are beginning to realize that agriculture is not just about growing more food. It is about growing more nutritiousfoods and making sure they are available and accessible to all, particularly women and children during the first 1,000 days. This is a welcome, and long overdue, change – and one that we must all act on as quickly as possible,” said Kathy Spahn, President and CEO of Helen Keller International.

Several speakers noted that earlier this week an expert panel of Nobel laureate economists known as the Copenhagen Consensus found that fighting malnutrition in young children is the number one investment that policymakers can make in order to improve global health and development. The research indicated that for every $1 invested in nutrition, as much as $138 in better health and increased productivity is generated.

“This research is especially timely in our budget-constrained environment. It is essential that the global community rally to mobilize not only more money for nutrition, but also more nutrition for the money already spent on hunger and poverty alleviation,” said Adam Taylor, Vice President, Advocacy at World Vision.

Many at the event called on the G-8 to commit to a concrete goal to reduce chronic malnutrition and that investments in food security, agriculture and health are specifically targeted to improve nutrition for women and children.

“Nutrition must be integrated into all of our food security efforts — from emergency food assistance and school meals programs, to the food grown by local farmers,” said Richard Leach, President and CEO of World Food Program USA. “This is an unprecedented moment in the fight against hunger where there is commitment among all sectors — public and private — to address the nutritional needs of vulnerable populations.”

“We know that investments in nutrition –particularly within the 1,000 day window between pregnancy and a child’s second birthday – are the most cost-effective development interventions available, bar none. The key is to generate the political will and commitment to make those investments both now and into the future,” said Ambassador Tony Hall, Executive Director of The Alliance to End Hunger.

The briefing also highlighted commitments from the Scaling Up Nutrition (SUN) movement, an effort led by 27 developing countries to accelerate progress against malnutrition, in coordination with G-8 governments, donors and UN agencies.

“The United States has long played a vital role in mustering political will and resources to bolster global prosperity,” said Bread for the World President Rev. David Beckmann. “U.S. leadership can support the efforts of developing countries to focus on achieving greater self-reliance, productivity, and food security, and a reduction in chronic hunger and malnutrition – especially during the critical 1,000 days between pregnancy and a child’s second birthday.”

Event conveners included 1,000 Days, The Alliance to End Hunger, Bread for the World, CARE, ChildFund International, Concern Worldwide, Global Alliance for Improved Nutrition, Helen Keller International, Save the Children, World Food Program USA and World Vision.

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Posted by monfinance on May 18, 2012 in Business News, International News

Tags: G8 Summit, General Knowledge, HKI, President Barrack Obama, President Jakaya Kikwete, Tanzania Economy, USAID, World Hunger

Baraza Jipya La Mawaziri Tanzania; May 2012.

05 May

Je Huu ni Mwanzo mpya? Baraza hili Litakidhi matakwa ya Watanzania? #MonFinance inawatakia kila la Kheri katika Majukumu haya mliyopewa.

Balaza Jipya Limeongeza Idadi ya Mawaziri wawili na Naibu waziri mmoja.
Wizara ya Nishati na Madini Imegawanyishwa na sasa kuwa na Manaibu wawili.
Mawaziri Sita wa zamani Wameondolewa.
Sura mpya tatu za mawaziri na Kumi za manaibu waziri Zimeingia Baraza Jipya.

Na Hili ndilo Baraza jipya Lililotangazwa jioni ya jana Kutokea Viwanja vya Ikulu Dar es Salaam.

ORODHA YA MAWAZIRI NA NAIBU MAWAZIRI

MAWAZIRI

1. OFISI YA RAIS

Waziri wa Nchi, Ofisi ya Rais (Mahusiano na Uratibu)

Ndugu Stephen M. Wasira, Mb.,

Waziri wa Nchi, Ofisi ya Rais, (Utawala Bora)

Ndugu George Mkuchika, Mb.,

Waziri wa Nchi, Ofisi ya Rais (UTUMISHI)

Ndugu Celina Kombani, Mb.,

2. OFISI YA MAKAMU WA RAIS

Waziri wa Nchi, Ofisi ya Makamu wa Rais (MUUNGANO)

Ndugu Samia H. Suluhu, Mb.,

Waziri wa Nchi, Ofisi ya Makamu wa Rais (MAZINGIRA)

Dr. Terezya P.L. Huvisa, Mb.,

Naibu Waziri:

Ndugu Charles Kitwanga, Mb.,

3. OFISI YA WAZIRI MKUU

MAWAZIRI:

Waziri wa Nchi, Ofisi ya Waziri Mkuu (Uwekezaji na Uwezeshaji)

Ndugu Mary M. Nagu, Mb.,

Waziri wa Nchi, Ofisi ya Waziri Mkuu (TAMISEMI)

Ndugu Hawa Ghasia, Mb.,

Waziri wa Nchi, Ofisi ya Waziri Mkuu (Sera, Uratibu na Bunge)

Ndugu William V. Lukuvi, Mb.,

MANAIBU WAZIRI:

Naibu Waziri wa Nchi, Ofisi ya Waziri Mkuu (TAMISEMI)

Ndugu Majaliwa K. Majaliwa, Mb.,

Naibu Waziri wa Nchi, Ofisi ya Waziri Mkuu (TAMISEMI)

Ndugu Aggrey Mwanry, Mb.,

4. WIZARA

Wizara Ya Ushirikiano wa Afrika Mashariki

Waziri: Ndugu Samuel J. Sitta, Mb.,

Naibu: Dr. Abdulla Juma Abdulla, Mb.,

Wizara ya Ulinzi na Jeshi la Kujenga Taifa

Waziri: Ndugu Shamsi Vuai Nahodha, Mb.,

Naibu: (Sijampata Jina Huyu)

Wizara Ya Ujenzi

Waziri: Dr. John P. Magufuli, Mb.,

Naibu: Ndugu Gerson Lwenge, Mb.,

Wizara Ya Afya na Ustawi wa Jamii

Waziri: Dr. Hussein A.H. Mwinyi, Mb.,

Naibu: Seif Suleiman Rashid, Mb.,

Wizara Ya Elimu na Mafunzo ya Ufundi

Wizara: Dr. Shukuru J. Kawambwa, Mb.,

Naibu: Ndugu Philipo A. Mulugo, Mb.,

Wizara Ya Maendeleo ya Jamii, Jinsia na Watoto

Waziri: Ndugu Sophia M. Simba, Mb.,

Naibu: Ummy A. Mwalimu, Mb.,

Wizara Ya Mambo ya Nje na Ushirikiano wa Kimataifa

Waziri: Ndugu Bernard K. Membe, Mb.,

Naibu: Ndugu Mahadhi J. Maalim, Mb.,

Wizara ya Katiba na Sheria

Waziri: Ndugu Mathias M. Chikawe, Mb.,

Naibu: Ndugu Angela Jasmine Kairuki, Mb.,

Wizara Ya Mambo ya Ndani ya Nchi

Waziri: Ndugu Emmanuel Nchimbi, Mb.,

Naibu: Ndugu Pereira A. Silima, Mb.,

Wizara Ya Maendeleo ya Mifugo na Uvuvi

Waziri: Dr. David M. David, Mb.,

Naibu: Ndugu Benedict N. Ole-Nangoro, Mb.,

Wizara Ya Kazi na Ajira

Waziri: Ndugu Gaudentia M. Kabaka, Mb.,

Naibu: Dr. Makongoro M. Mahanga, Mb.,

Wizara Ya Mawasiliano, Sayansi na Teknolojia

Waziri: Prof. Makame M. Mbarawa, Mb.,

Naibu: Ndugu January Makamba, Mb.,

Wizara Ya Ardhi, Nyumba na Maendeleo ya Makazi

Waziri: Prof. Anna K. Tibaijuka, Mb.,

Naibu: Ndugu Goodluck J. Ole-Madeye, Mb.,

Wizara ya Maji

Waziri: Prof. Jumanne Maghembe, Mb.,

Naibu: Eng. Dr. Binilith Mahenge, Mb.,

Waziri asiyekuwa na Wizara Maalum

Prof. Mark Mwandosya, Mb.,

Wizara Ya Kilimo, Chakula na Ushirika

Waziri: Eng. Christopher Chiza, Mb.,

Naibu: Ndugu Adam Malima, Mb.,

Wizara Ya Uchukuzi

Waziri: Dr. Harrison Mwakyembe, Mb.,

Naibu: Dr. Charles J. Tizeba, Mb.,

Wizara Ya Habari, Vijana, Utamaduni na Michezo

Waziri: Dr. Fenella E. Mukangara, Mb.,

Naibu: Ndugu Amos Makala, Mb.,

Wizara Ya Maliasili na Utalii

Waziri: Ndugu Khamis Kagasheki, Mb.,

Naibu: Ndugu Lazaro Nyalandu, Mb.,

Wizara Ya Viwanda na Biashara

Waziri: Dr. Abdallah O. Kigoda, Mb.,

Naibu: Ndugu Gregory G. Teu, Mb.,

Wizara ya Fedha

Waziri: Dr. William Mgimwa, Mb.,

Naibu: Ndugu Janet Mbene, Mb.,

Naibu: Ndugu Saada Mkuya Salum, Mb.,

Wizara ya Nishati na Madini

Waziri: Prof. Sospeter Muhongo, Mb.,

Naibu: Ndugu George Simbachawene, Mb.,

Naibu: Stephen Maselle, Mb.,

4 Comments

Posted by monfinance on May 5, 2012 in Tanzania News

Tags: Baraza La Mawaziri Tanzania 2012, Dr.William Mgimwa, General Knowledge, Jakaya Kikwete, Reference, Tanzania, Tanzania Economy

Africa Energy

11 Apr

African energy Eastern El Dorado? ( The Economist Paper – Apr 07th 2012)

At long last east Africa is beginning to realise its energy potential.

Symbion Power Plant. Picture by dewjiblog.com

IN ENERGY terms, east Africa has long been the continent’s poor cousin. Until last year it was thought to have no more than 6 billion barrels of proven oil reserves, compared with 60 billion in west Africa and even more in the north. Since a third of the region’s imports are oil-related, it has been especially vulnerable to oil shocks. The World Bank says that, after poor governance, high energy costs are the biggest drag on east Africa’s economy.All that may be about to change. Kenya, the region’s biggest economy, was sent into delirium on March 26th by the announcement of a big oil strike in its wild north. A British oil firm, Tullow, now compares prospects in the Turkana region and across the border in Ethiopia to Britain’s bonanza from the North Sea. More wells will now be drilled across Kenya, which also holds out hopes for offshore exploration blocs.
Kenya’s find raised less joy in Uganda, where oil was first struck in 2006. Tullow, together with China’s CNOOC and Total of France, will start pumping it next year, initially at a paltry rate of 5,000 barrels a day (b/d). But the Lake Albert basin, which straddles the border between Uganda and Congo, holds over a billion barrels of proven reserves and possibly twice that in potential finds. Uganda has always played Oklahoma to Kenya’s Texas. It believed its bonanza had for once put it at an advantage: instead of importing oil through the Kenyan port of Mombasa, it would build a refinery and export petroleum products to Kenya at a premium. Uganda still has a head start, but Kenyan officials now see their country as a regional hub that combines geographical advantages, and its own newly discovered energy resources, with tax breaks, skills and services.

South Sudan, for years the largest oil producer in the region and locked in an oil dispute with Sudan, now wants to send crude out through Kenya on a pipeline to a proposed new port in Lamu (see map). Such a channel could also serve Ethiopia, which shares Kenya’s joy about their joint oil prospects. But their winnings pale next to those farther south. Tanzania has done well out of gold, earning record receipts of $2.1 billion last year, a 33% increase on 2010. It will do even better from gas. The past month has seen the discovery of enormous gas fields in Tanzanian offshore waters. That of Britain’s BG Group is big, Another, by Norway’s Statoil, is bigger. Statoil’s recent gas find alone is estimated to hold almost a billion barrels of oil equivalent (boe).

Happily, Tanzania’s gasfield extends south to Mozambique, where Italy’s Eni last month unveiled a find of 1.3 billion boe, matching similar finds by an American firm, Andarko. With plans to build a liquefied natural gas (LNG) terminal, Mozambique could be a big exporter within a decade. At least the vast and impoverished south of Tanzania and north of Mozambique will be opened up to much-needed investment.

Yet the region is not just excited about fossil fuels; a parallel push towards alternative energy is under way. Several east African countries are keen to realise the Rift Valley’s geothermal prospects. One of the world’s largest wind farms is being built-in Kenya not far from the new-found oil in Turkana. Its backers say it will produce 300MW, three times the total output of Rwanda.

That is a drop in the bucket for Ethiopia. Its rivers, plunging from well-watered highlands into deep canyons, have hydropower potential. Meles Zenawi, the prime minister, has ordered the construction of a series of dams at a total cost of over $8 billion. The jewel is the $4.7 billion Grand Ethiopian Renaissance Dam on the Blue Nile. This should generate 5,250MW when finished, increasing electricity production in the country fivefold, providing a surplus for export and allowing Ethiopia to open up as a manufacturer.

The arrival of potential energy wealth comes with risks. Instead of bringing the region together, petro-rivalry could drive it apart. The continued dispute between South Sudan and Sudan should serve as a warning. South Sudan has cut off its supply of 300,000 b/d to Sudan, most of which is destined for China, complaining that transit fees to Sudan’s export terminal are too high. The South Sudanese say Sudan has bombed its oil wells in recent weeks. Sudan whispers that South Sudan wants to replace Chinese oil companies with European ones. This is a sensitive point for Beijing: the Europeans have done especially well in the new scramble for oil in Africa.

Security is another potential problem, underscored by deadly grenade attacks in the Kenyan port of Mombasa this week by jihadists connected with Somalia’s al-Qaeda-linked Shabab militia. Heavily armed pastoralists like Kenya’s Turkana are unlikely to respect oil-company property. Ethiopia has hit gas in the Ogaden desert, and aChinese company, PetroTrans, wants to invest $4 billion there. But Mr Zenawi will have to win over the region’s restive ethnic Somali population. Many oilmen suspect that Somalia itself may contain the region’s energy mother-lode; war and piracy put it beyond reach.

Management is another test. Few of the region’s governments have the capacity to strike fair deals with big oil companies. Tanzania is not alone in limping along with out-of-date and unsuitable laws. Nor do many have a good record of managing public accounts for the general good. Uganda’s president, Yoweri Museveni, looks increasingly like a dynastic ruler bent on enriching his clan. Still, the region’s millions of struggling poor are likely to be better off even if, as usual, the rich skim off the cream.

My Views:

We must be thankful to God for endowing us with such wealth of energy. However we need to learn from our past mistakes what happened in the mineral sector shouldnt happen in the energy sector.

First of all, we should ensure that we have technical expertise talking of energy experts, legal and financial experts who will safeguard our national interests.
We wouldn’t want to go back in the days where we enter lopsided contracts that see us getting nothing and investors benefit to our detriment.

In the areas where we don’t have expertise let us outsource such services to international consulting firms with good reputation, definitely there is no free lunch in today’s world, we should pay for such expertise. This is what Dubai is doing…and they are far away.

And last but not least, let us learn from the countries that have been there before…..for gas deals, let us learn from Qatar…the leading gas producer. we should also learn from Ghana when it comes to oil.

Tukifanya haya, kweli Tanzania yenye neema tele inawezekana.

6 Comments

Posted by monfinance on April 11, 2012 in Business News, Finance,Taxation and Investment, International News, Tanzania News, Uncategorized

Tags: Energy in Africa, General Knowledge, Minerals in Tanzania, Mining in Africa, Mining in Tanzania, Tanzania Economy, Tanzania energy

IMF sees Tanzania growth 6.5 to 7 pct in 2012-13 – Reuters

05 Apr

IMF imeripoti kuwa Uchumi wa Tanzania Unategemewa kupanda kwa asilimia 6.5 mpaka 7 kwa mwaka 2012-13.

Soma Zaidi Hapa chini:
Tanzania’s economy is projected to expand by 6.5 to 7 percent in 2012-13, up from about 6.3 percent in 2011, with its deficit cut to 5.5 percent of gross domestic product, the International Monetary Fund said on Tuesday.

The Washington-based IMF also said real Gross Domestic Product (GDP) grew 6.3 percent in the first nine months of 2011 and was expected to have maintained that pace in the final quarter of the year.

The IMF estimate echoes the World Bank’s forecast in February that east Africa’s second biggest economy could rebound to 7 percent growth in 2012-13, buoyed by the recovery of the global economy.

“For 2012-13, growth is projected in the 6.5-7 percent range … It was agreed that the authorities will pursue further fiscal consolidation to achieve an overall budget deficit of 5.5 percent of GDP in 2012-13,” the IMF said in a statement.

The IMF gave no explanation for the greater growth forecast.

Economic analysts say increasing investor interest in Tanzania’s telecommunications, energy and financial services sectors should help drive economic growth if the world economy recovers.

The IMF said in February that savings in Tanzania’s non-priority programmes were expected to reduce the budget deficit to around 6.5 percent of GDP by the end of June this year, and help tackle inflation.

“Monetary policy will need to be tight over the near term to keep underlying inflation low. Based on a projected improvement in the food situation in the region, headline inflation is projected to return to single digits by end-2012,” the IMF said.

The World Bank has a more optimistic forecast on Tanzania’s inflation rate, expecting it to fall to single digits by June from 19.7 percent in January, in line with government expectations.

A chronic energy shortage coupled with high inflation driven by food and fuel prices dampened growth in Tanzania last year.

“The increase in electricity tariffs by 40 percent in January 2012 was an important step in covering the associated higher cost of power generation. It will be important to ensure that tariffs continue to reflect the cost of power generation,” the IMF said.

The IMF said Tanzania had requested support from the fund’s precautionary stand-by credit facility (SCF) as a safety net for a possible global financial slowdown over the coming years, likely to be triggered by the ongoing euro zone crisis.

“The IMF’s Executive Board is expected to consider the fourth PSI (policy support instrument) review and the request for the precautionary SCF in June 2012.”

Reuters – March 13,2012

3 Comments

Posted by monfinance on April 5, 2012 in Business News, Tanzania News

Tags: General Knowledge, Investment Ideas, Reuters, Tanzania Economy, Tanzania GDP

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"Knowledge is of two kinds. We know a subject ourselves, or we know where we can find information on it” said Samuel Johnson. Well, my name is Monica Joseph, a Tanzanian woman with an all-encompassing experience in all aspects of Taxation, accounting, auditing and financial management. A MSc. Finance degree holder from the University of Strathclyde, and, of course a Social media aficionado, I look forward to the happiest and knowledgeable blogging safari ever, with stops at all issues as mentioned above. JOIN ME & LETS DO IT...

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