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XINHUA NEWS SERVICE REPORTS FROM THE AFRICAN CONTINENT

 

Buoyant Tanzania economy grew 7.9 percent in the second quarter

DAR ES SALAAM Tanzania (Xinhua) -- Tanzania’s economy grew 7.9 percent in the second quarter of 2016 (Q2) compared to a 5.8 percent expansion observed in the same period last year, authorities said on Thursday.

The country’s National Bureau of Statistics (NBS) attributed the impressive growth to well-performing agricultural, industry and construction, and transportation sectors, among others.

The agriculture sector, which includes production of crops, livestock, forestry and fishing, registered a growth rate of 3.2 percent in Q2 compared to a negative growth of 1.9 percent in the same period last year, said a statement by NBS.

The statement said the increase in the agricultural sector growth rate was attributed to a favourable rainfall for crop production during the period under review.

"Mining and quarrying activities registered a growth rate of 20.5 percent in Q2 compared to 11.2 percent recorded during the same quarter of 2015," said the statement.

"The growth was mainly attributed to an increase in production of natural gas, diamond, Tanzanite, gold, copper and silver," it said, adding that "significant production was observed in the extraction of natural gas."

The statement said the manufacturing sector recorded a growth rate of 9.1 percent during the period under review compared to 5.2 percent in the same period in 2015.

And transportation sector recorded a growth rate of 30.6 percent in Q2, compared to 9.4 percent registered in the same period last year.
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UPDATE:

Tanzania endorses oil pipeline construction

ARUSHA Tanzania Tanzania (Xinhua) -- Tanzania on Thursday announced to have officially agreed to implement the construction of a crude oil pipeline from Hoima District in Uganda to the port of Tanga.

According to a statement, the decision was reached at the cabinet meeting held in Dar es Salaam.

Tanzanian Prime Minister Kassim Majaliwa said in the statement that the construction of the pipeline, which will begin anytime from now, will end in 2020.

The project will cost 3.5 billion U.S. dollars, whereas out of the total, 3 billion dollars will be spent on constructing the pipeline on the Tanzanian side, said the statement.

Majaliwa added that the 1,443 km pipeline is expected to transport about 200,000 barrels of oil per day, whereby each barrel would be earning the nation 12.2 dollars.

He divulged that despite transporting the oil from Uganda, the pipeline will also be transporting oil from other countries such as DRC Congo and South Sudan.

The PM added that the project will also bring 15,000 employment opportunities to Tanzanians during construction, and 2,000 more after the completion.

             

 

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