Good morning! The Chanzo is here with a rundown of major news stories reported in Tanzania on March 24, 2025.
Bank of Tanzania responds to report on declining performance of the Tanzanian Shilling
The Bank of Tanzania has issued a clarification regarding a Bloomberg report titled World’s Worst Currency Status Haunts Tanzanian Shilling as Debt and Imports Soar.
The article which was published on March 19, 2025 highlights: “The Tanzanian shilling has dropped 8.9% this year, making it the worst-performing currency in the world. On Tuesday, it slipped another 0.2% to 2,645.10 per dollar, its lowest closing level since late November.”
The BoT argued that, over the past twelve months, the Tanzanian Shilling has depreciated by 3.6 percent against the United States Dollar contrary to the report.
“It is worth noting that, intra-period, from July to December 2024, the Shilling steeply appreciated by 9.51 percent, becoming the best-performing currency in the world before reversing its trend from the beginning of January 2025. This is consistent with the seasonal nature of foreign exchange flows in the country and the Bank’s foreign exchange policy, which allows exchange rate flexibility,” the Bank of Tanzania explained.
“Under this policy regime, the exchange rate continues to be
determined by the demand and supply of foreign exchange in the market with minimal intervention from the Bank,” it emphasized.
The BoT also highlighted that the debt-to-GDP ratio remained low at 41.1 percent in 2023/24, well below the IMF-recommended threshold of 50 percent.
While the BoT consistently intervened in the market from 2022 to 2024, the Bank has since shifted its policy following its program with the International Monetary Fund. Under the new foreign exchange regulations, the Bank now intervenes only in abnormal circumstances to correct market imbalances.
Government moves to combat new invasive plant threat in lake Victoria
The Director General of the National Environment Management Council (NEMC), Dr. Immaculate Sware Semesi, has stated that following the emergence of invasive water hyacinth in Lake Victoria last year, the government, through the Permanent Secretary in the Office of the Vice President, Engineer Cyprian Luhemeja is taking action to remove it.
Speaking to journalists in Dodoma, Dr. Semesi said that the water hyacinth has caused disruptions to water transport and negatively impacted various activities in Lake Victoria, particularly fish farming.
She mentioned that various stakeholders, coordinated under the Permanent Secretary in the Office of the Vice President, have met and agreed on ways to address the problem.
“We had a meeting two weeks ago led by the Permanent Secretary in the Office of the Vice President, along with representatives from 12 sectors, including the Water Basin Authority, local government authorities, and other institutions related to livestock and fisheries,” said Dr. Semesi.
On March 10, 2025, senior government officials, led by the Permanent Secretary in the Office of the Vice President, visited the Kigongo-Busisi area in Misungwi District, Mwanza Region, one of the locations heavily affected by the invasive water hyacinth, to assess the extent of the damage.
“The immediate remedy we are implementing is to remove the water hyacinth by harvesting it in collaboration with fishermen in the affected areas. The work is ongoing to ensure that the negative impact of the hyacinth is minimized or completely eliminated as soon as possible,” she added.
Water hyacinth has long been a problem in Lake Victoria, periodically emerging and posing a significant threat to the fishing industry and livelihoods in general. However, this latest invasive species, identified as Salvinia spp., is said to be new and is known to be invasive in most tropical and subtropical regions of the world. It is already forcing fish, such as Nile perch, to migrate to deeper waters, making them harder to catch.
Anna Bwana appointed as Twaweza East Africa Executive Director, succeeding Aidan Eyakuze
Twaweza East Africa has announced the appointment of Anna Bwana as its new Executive Director, succeeding Aidan Eyakuze, who has transitioned to the role of Chief Executive Officer at the Open Government Partnership.
Founded in 2009, Twaweza East Africa is a regional civil society organization operating in Tanzania, Uganda, and Kenya. Its work focuses on empowering citizens to exercise agency and encouraging governments to be more open and responsive.
Anna Bwana, a seasoned expert currently serving as the Country Director of BBC Media Action in Tanzania, has extensive experience in governance and civic engagement. She has worked across several African countries, including Ethiopia, where she served as the interim director of BBC Media Action.
“Bwana brings over 15 years of experience in designing and leading adaptive governance programs. She has strong skills in organizational development, strategic visioning and planning, and leading impactful teams,” stated Twaweza in an official announcement.
Her career includes roles such as Deputy Team Leader at the Institutions for Inclusive Development Project, Governance Advisor at the Embassy of Ireland, and Governance Program Manager at Oxfam Tanzania.
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Chinese Company Jinyimeng in talks with STAMICO over value addition opportunities for Kiwira Mine
The Tanzania State Mining Corporation (STAMICO) has held discussions with the Chinese firm Jinyimeng regarding the potential value addition of outputs from the Kiwira mine for the production of fertilizers, electricity, and natural gas.
The meeting, held on March 20, 2025, was attended by Jinyimeng’s Chairperson, Zhang Lisheng, and STAMICO’s Executive Director, Dr. Venance Mwasse.
STAMICO affirmed its commitment to assessing these new opportunities and stated that if the potential proves viable, it will welcome investors.
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