Experts explain reasons behind fall of TZ shilling

>The free fall of the Tanzania currency – shilling -- against the greenback to an all-time low has been the talk of the town in recent weeks. It depreciated to Sh2,015 against the dollar last week from last year’s average of Sh1,630. Even as efforts are now being made to rescue the situation, we still need thorough explanations.

If the depreciation rate of 6.36 per cent will persist, the shilling will hit Sh3,000 per greenback in the middle of August

>The drop of gold price in the world market, donors withholding aid funds and business loans are to blame for the fall of shilling against the US dollar, according to central bank governor Prof Benno Ndulu.

Tanga Cement Company incurred a loss of Sh6.9 billion in the first six months of this year.

Mbowe allays fears over fall of Tanzanian Shilling against major world currencies
IPPmedia
The National Chairman of opposition Chama cha Demokrasia na Maendeleo (Chadema), Freeman Mbowe,has allayed fears over fall of Tanzanian Shilling against the major currencies, saying that the gradual fall actually has a positive impact on the country's ...

A farmer was sitting in the neighbourhood bar getting drunk. A man came in and asked him, “Hey, why are you sitting here on this beautiful day, getting drunk?” The farmer shook his head and replied, “Some things you just can’t explain.”

Dodoma. The government was at pain to explain yesterday why it has failed to give Tanesco all the money that Parliament endorsed last year for rural electrification drive. In his explanation, deputy Finance minister Adam Malima fell short of explaination how and why the government diverted billions of shillings meant to finance Rural Energy Agency (Rea) activities.

>A beneficiary in the Tegeta escrow account scandal was yesterday put to task by the Public Leaders Ethics Tribunal over some Sh66.5 million he received from two private companies.

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