There’re things that you just cannot explain

Financial market practitioners are associating the depreciation of the shilling with the strengthening of American economy, which has seen a number of currencies across the world losing value.

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.

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>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.

>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.

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