High food prices is one of the main drivers of rising inflation in Tanzania. FILE PHOTO | NMG
The Bank of Tanzania has blamed high inflation on most of the country’s trade partners, and the high commodity prices for continued pressures on its domestic market.
“Because of this unpleasant external environment, combined with elevating domestic supply-side constraints, inflation continued to trend upward, reaching 4.8 percent in September 2022 in Tanzania mainland,” the central bank said in its economic bulletin for the third quarter of 2022 ending September published December 26.
It cited the same reasons for average inflation rising to 4.6 percent during the quarter compared to 4.1 percent in Quarter 2 of 2022 and 3.9 percent year-on-year from Quarter 3 of 2021.
The rising inflationary pressures due to persistent global shocks had “complicated the conduct of monetary policy by heightening the inflation-growth trade-off,” the central bank said.
It added: “In view of this, and given the inflationary pressures are driven by supply-side factors, the Bank has opted for lessening monetary policy accommodation rather than full-blown tightening,”
“This cautious policy stance aims at aligning liquidity with monetary targets set forth under the IMF Extended Credit Facility (ECF) programme and safeguarding growth of economic activities while containing inflationary pressures.”
BoT noted that similar rising patterns of inflation were experienced in the East African Community (EAC) and Southern African Development Community (SADC) regional blocs to which Tanzania belongs, and trades with most of the other member states.
But the central bank also underlined that despite edging up, inflation remained in line with the country’s 2022/2023 fiscal year target and both EAC and SADC convergence criteria.
The main drivers of rising inflation during the quarter were prices of food, transport and building materials, it reported.
The rise in headline inflation in Zanzibar was much worse, up to an average of 5.6 percent from 2.2 percent in the third quarter of 2021, also driven by rising food prices.
According to the BoT quarterly bulletin, Tanzania’s current account recorded a deficit of $1.7 billion compared with just $331.3 million in the corresponding quarter of 2021, saying this was “largely explained” by a higher imports bill.
“The external sector continued to be affected by the war in Ukraine and prolonged Covid-19 outbreaks and lockdowns in China that have led to disruptions of supply chains, causing high commodity prices.”
Government revenue and grants amounted to Tsh6.31 trillion ($2.7 billion) during the quarter against an expenditure of Tsh8.45 trillion ($3.6 billion).
National debt increased by almost $180 million to $38.44 billion at the end of September 2022 from $38.26 billion at the end of June 2022. By BOB KARASHANI, The East African
Lucas Katee Mwanza took over as the new Nairobi Regional Commissioner on Saturday, December 31.
In a statement from the Ministry of Interior, Cabinet Secretary Kithure Kindiki appointed Katee alongside eight others in an overhaul of the regional administrators.
He took over from William Kang'ethe Thuku who was recalled to the Ministry Headquarters.
A look into Mwanza's profile by Kenyans.co.ke revealed that he was a witness at the International Criminal Court ( ICC) in the 2007/8 post-election violence trial.
The new Nairobi administrator was called to the stand as a witness to testify in the trial of former ICC suspect Francis Muthaura.
Mwanza was called to the dock because he was the Naivasha District Commissioner when the post-election skirmishes broke out in December 2007.
He has been the Commissioner of Refugee Affairs (CRA) in the Department of Refugee Services in the State Department for Citizen Services - within the Interior Ministry.
On January 13, he was appointed as the Mombasa County Commissioner in a reshuffle by former Interior Boss Fred Matiang'i.
Prior to the move, the incoming regional boss served as Senior Deputy Secretary at the Office of the President (OOP), Harambee House. He also served as the Kilifi District Commissioner.
Mwanza's appointment adds to some of the changes made by CS Kindiki in Nairobi since he took office.
On November 15, Adamson Bungei was named the Nairobi County police commander following a spike in criminal activities across the county.
Other regional commissioners appointed in the latest reshuffle include Rhoda Onyancha (Coast), John Otieno (North Eastern), Paul Rotich (Eastern), Fredrick Shisia (Central), Abdi Hassan (Rift Valley), Samson Kirungu (Western) and Florah Mworoa (Nyanza).
The year 2022 may have ended on a sad note as we said goodbye to two great personalities; Pele and Catherine Kasavuli.
However, their deaths just at the close of the year are a stark reminder that whatever has a beginning has an ending, and what matters is the impact we make in between. Each of them shone in the little spaces in which they had a chance to demonstrate their gifts and abilities.
Pele mesmerized the whole world with his speed, agility, skill, tenacity, and, of course, great personality. Pele holds numerous records, including being the youngest player to win a World Cup and the only player in history to win it three times.
Similarly, Kasavuli pioneered the art of presenting live news. Her eloquence, smile, and presence have continued to be a yardstick for TV presenting to date. She has trained and mentored many of the current faces you see on TV.
At 60, Kasavuli was still active on the screen, maintaining the same poise and beauty that first introduced Kenyan television to live news presenting. However, as we mourn the two great icons, you will note that few people are concerned about how much wealth they may have acquired in the process.
It is about the impact they had on the world and the number of lives they touched and inspired. Their legacy is defined by their consistent and tenacious actions, not by what they received.
These are definitely important lessons as we start the year 2023. One thing we must never forget is that it will be over in just 12 months, or 365 days. that we cannot alter or change. Day one of 2023 is the day we ask ourselves all the hard questions.
Where will we want to be by December 2023? What are the goals, and what do we need to do to achieve them? Is there something we tried before that failed? What is it that we are going to do differently?
A new year is exactly that. It is a chance to refresh our minds and, if need be, start all over again. For those that managed to make great strides in 2022, it is a time to improve working strategies and give a new impetus to whatever dreams and aspirations remain unaccomplished.
In life, people aspire to many things, but generally, we all aspire to be successful. This can either be in marriage, career, business, academics, politics, personal development, etc. However, that is not just it.
Other smaller struggles play a role in our bigger aspirations. They are those who are struggling to quit drugs, get out of an abusive relationship, get a job, find love, and be grounded spiritually.
These, too, need one to be in the right frame of mind and surrounded by the right calibre of people. Just like Pele and Kasavuli, the year 2023 offers us another opportunity to start or continue to build our own legacies. I wish you a happy and prosperous 2023. If you do what you did, you will get what you got. -The writer works for Standard group’s Radio Maisha The Standard
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