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EAC vetoes report on Kiswahili commission
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EAC vetoes report on Kiswahili commission
THE Sectoral Council on Finance and Economic Affairs (SCFEA) of the East African Community (EAC) currently underway in Arusha has agreed not to dissolve the East African Commission for Kiswahili (EACK) due to its importance in promoting the language in the EAC partner states.
Dr Mwigulu Nchemba.
The decision was based on the objections from member states which rejected recommendations of a consultant who urged the dissolution of the commission, recommending that its responsibilities be taken up by the EAC Information, Technology, Culture and Sports Department.
Dissolving the EACK would reduce expenditure in the secretariat, but the head of the Tanzanian delegation, Finance and Planning minister Dr Mwigulu Nchemba said it was high time that the community strengthens the commission due to its importance.
By Juma / Published May 10, 2021 | 10:07 am KEY POINTS
Tanzania s gold shipment hit the $3 billion mark for the first time as the price of the precious metal increased in the world market.
Tanzania has opened one of Africa’s largest gold refineries in Mwanza. It will refine gold to international standards.
The country will no longer export raw gold. The refinery can process up to 480kg of gold per day. Gold is Tanzania’s biggest foreign exchange earner.
Bank of Tanzania Governor Prof Florens Luoga has commended the State Mining Corporation (Stamico) for enabling Tanzania to start refining gold to international standards.
Eight banks to merge to meet liquidity threshold
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Eight banks to merge to meet liquidity threshold
AT LEAST eight banks are in the process of merging so as to meet liquidity and other laid down requirements, the financial sector regulator has affirmed.
Bank of Tanzania (BoT) Governor, Prof Florens Luoga, made this observation at an occasion to mark the merger of China Commercial Bank Ltd with NMB Bank Plc in Dar es Salaam yesterday, noting that mergers are a healthy move to give struggling lenders a new lease of life.
“Among the eight banks some of them have just filed the merger request. Others are at a good stage of the process while others are finalising the merger process,” he elaborated.
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