Shilling depreciation hits air transport

 More than 60 airport managers across Tanzania are meeting in Dar es Salaam to discuss the future of air transport.

The shilling has tumbled to a record low, with analysts and dealers predicting a freefall that could see the local currency trade at an average of Sh2,000 against the dollar during the campaign period. 

A new airline was launched in the Democratic Republic of Congo on Friday, a bid to revolutionise air transport within the vast country where flights are currently operated only by the UN and small carriers blacklisted by the EU.

One of the most striking aspects in CCM’s 2015-2020 manifesto is the ruling party’s desire to see Tanzania attract two million tourists come 2020, up from the current 1.1 million.

One of the most striking aspects in CCM’s 2015-2020 manifesto is the ruling party’s desire to see Tanzania attract two million tourists come 2020, up from the current 1.1 million.

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>A seasoned banker yesterday called upon the Bank of Tanzania (BoT) to leave the value of the Shilling to be determined by market forces.

The shilling continued losing against the dollar this week, but the central bank says it has enough hard currency to deal with any threat on the value of the local unit.

Reports that the Tanzanian shilling has been falling against the dollar for nine consecutive weeks is disturbing but not surprising.