Tanzania Says Economy Will Expand by a Fifth After GDP Rebasing

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Tanzania's government expects the size of the economy to increase by 20 percent after rebasing the country's gross domestic product data to factor in expanding industries such as mining and natural gas.

The revised figures will be released in September, Daniel Masolwa, a manager at Tanzania's National Bureau of Statistics, said in an interview June 21 in Morogoro, about 170 kilometers (106 miles) west of the commercial hub of Dar es Salaam. The base year for computing economic output will be changed to 2007 from 2001, Masolwa said today in a text message.

Mining accounts for just 4 percent of Tanzania's GDP even though the nation is Africa's fourth-largest gold producer, with miners including Africa Barrick Gold Plc (ABG) exporting the metal. It also has the only known deposit of the gemstone tanzanite at the foot of Mount Kilimanjaro.

Tanzania, which has natural-gas reserves estimated at 50.5 trillion cubic feet, is building a pipeline and plans to develop a liquefied-natural gas plant to become an exporter of the fuel. It already produces gas for domestic consumption.

Other African nations are recalculating their GDP figures, including Nigeria, which this year overtook South Africa as the continent's biggest economy after the rebasing process. Kenya also expects the size of its economy to grow after updating GDP figures that are scheduled to be announced in September.

Tanzania's 53.2 trillion-shilling ($32 billion) economy relies on agriculture to generate a quarter of its output and 85 percent of exports, according to the United Nations.

Source: Tanzania Says Economy Will Expand by a Fifth After GDP Rebasing - Bloomberg
 
Rebasing inamaanisha kurevise the base year inayotumiwa kucalculate various econimic estimates to a new or more recent base year.
 

[h=1]Tanzania Says Economy Will Expand by a Fifth After GDP Rebasing[/h]By Alawi Masare - Jun 23, 2014
Tanzania’s government expects the size of the economy to increase by 20 percent after rebasing the country’s gross domestic product data to factor in expanding industries such as mining and natural gas.
The revised figures will be released in September, Daniel Masolwa, a manager at Tanzania’s National Bureau of Statistics, said in an interview June 21 in Morogoro, about 170 kilometers (106 miles) west of the commercial hub of Dar es Salaam. The base year for computing economic output will be changed to 2007 from 2001, Masolwa said today in a text message.
Mining accounts for just 4 percent of Tanzania’s GDP even though the nation is Africa’s fourth-largest gold producer, with miners includingAfrica Barrick Gold Plc (ABG) exporting the metal. It also has the only known deposit of the gemstone tanzanite at the foot of Mount Kilimanjaro.
Tanzania, which has natural-gas reserves estimated at 50.5 trillion cubic feet, is building a pipeline and plans to develop a liquefied-natural gas plant to become an exporter of the fuel. It already produces gas for domestic consumption.
Other African nations are recalculating their GDP figures, including Nigeria, which this year overtook South Africa as the continent’s biggest economy after the rebasing process. Kenya also expects the size of its economy to grow after updating GDP figures that are scheduled to be announced in September.
Tanzania’s 53.2 trillion-shilling ($32 billion) economy relies on agriculture to generate a quarter of its output and 85 percent of exports, according to the United Nations.
To contact the reporter on this story: Alawi Masare in Dar es Salaam at amasare@bloomberg.net
To contact the editors responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net Sarah McGregor, Paul Richardson


http://www.bloomberg.com/news/print...ays-economy-will-expand-by-a-fifth-after-gdp-
rebasing.html


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You were up with arms when we announced rebasing of our GDP, now it's ok since Tanzania is following suit. We are trendsetters, you've got to bow down in acknowledgement. Anyway, it's a good move and hope the rest of EAC countries do the same to boost the region's combined GDP.
 
but you haven't said to what percent will Kenya grow? :llama:
 
Tofauti itaonekana kwenye DATA tu ba wala siyo kwenye maisha ya watu!!!! Hii ni siasa as usual,.
 
Geza Ulole said:
but you haven't said to what percent will Kenya grow? :llama:
Click to expand...

What do you mean, ours has been explained exhaustively, it will propel us to middle-income economy, that is $50 billion (Sh4.2 tr), making Kenya the fourth-largest economy in sub-Saharan Africa after Nigeria, South Africa and Angola.

Will be years before you ever get anywhere closer to us, we have outgrown East and Central Africa and Even Northern Africa.
Wait once we connect the oil pipeline from Uganda to Lamu and complete the SGR.
 
Sorry but the LAPSSET issue is an old cheese now! nobody is talking about it...
 
Geza Ulole said:
Sorry but the LAPSSET issue is an old cheese now! nobody is talking about it...
Click to expand...

[h=2]Uganda, Kenya, South Sudan pipeline plans on track[/h]Thursday, 12th June 2014 | Infrastructure, International
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The pipeline will run from Hoima, through Lokichar to Lamu port on the Kenyan coast.

The governments of Uganda, Kenya and South Sudan have agreed to procure one lead consultant to carry out preliminary designs for the construction of an oil pipeline to transport crude from Hoima via Lokichar to Lamu port, a Kenyan ministry official has revealed.
An advert for the bids for a Project Lead Supervisor will be sent out by the partner states this month.
"We have decided to use a single lead consultant to carry out the preliminary designs for the oil pipeline," Martin Heya, Kenya's Commissioner for Petroleum Energy told Oil in Uganda by phone.
"We have to ensure that the pipeline design from Hoima via South Lokichar to Lamu is the same," he added.
According to John Bosco Habumugisha, the Assistant Commissioner in charge of Pipelines Development at the Petroleum Exploration and Production Department (PEPD), a Memorandum of Understanding for the development of the pipeline was signed last month and a Request For Proposal (RFP) for the joint procurement of a lead consultant is being developed.
"The RFP is expected to be completed by July 2014 and the lead consultant will undertake a feasibility study and preliminary design for the pipeline," he revealed.
"South Sudan will have the opportunity to later connect at Lokichar in Northern Kenya. Rwanda was also invited to participate in the project and will have the provision to connect to the pipeline in future, in the event that they make a discovery of oil in the country," said Mr. Habumugisha in an e-mail response to Oil in Uganda.
He added that a Project Steering Committee comprising of Permanent and Principal Secretaries of the responsible line Ministries from the participating member states has already been established.
According to Mr.Habumugisha, the four governments will jointly finance the pipeline project.
"The feasibility study and preliminary design will be jointly financed by the partner states, ensuring that the entire pipeline is designed to the same standards and codes," he said.
Meanwhile, the Kenya Pipeline Company has awarded Zakhem International a tender to construct an oil pipeline from Kenya's capital Nairobi to its coastal shores of Mombasa .
The pipeline, according to Kenya's energy officials, is expected to be completed in two years.
However, rival bidders for the project have expressed concern over the evaluation process, claiming that it was done in a hurry.
Report by Beatrice Ongode

Uganda, Kenya, South Sudan pipeline plans on track | Oil In Uganda
 
as far as i remember the pipeline talk was way ahead before the discussion on construction of Mtwara-Dar even began! Now the pipeline Mtwara to Dar is over 70% completed and the LAPSSET one is still on track! :hail:
 
Geza Ulole said:
as far as a remembered the pipeline talk was way ahead before the discussion on construction of Mtwara-Dar even began! Now the pipeline Mtwara to Dar is over 70% completed and the LAPSSET one is still on track! :hail:
Click to expand...

Mtwara to Dar es Salaam project is a mere 542-km gas pipeline and has already been funded by Exim Bank of China.


On the other hand, ours is a 1,300-kilometre (808-mile) oil pipeline to transport crude to the Kenyan coast which involves four countries, Rwanda included. There will also be a construction of a fibre optic cable from Hoima in Uganda through the Lokichar basin in northwest Kenya to Lamu, and tank terminals in Hoima, Lokichar and Lamu. In addition to construction of a 9-km pipeline from the Lamu tank terminal to offshore mooring buoys.


The tendering process has begun and requires careful execution and attention to details. Not meant for clowns.
 
i am waiting so far South Sudan is in disarrays so that post above is irrelevant!
 
Geza Ulole said:
i am waiting so far South Sudan is in disarrays so that post above is irrelevant!
Click to expand...
been

Viability of the pipeline has been determined even without Uganda and the rest. Oil discovered in Kenya is enough need for a pipeline. Involvement of the other three countries can be considered as a bonus.
 
lawmaina78 said:
been

Viability of the pipeline has been determined even without Uganda and the rest. Oil discovered in Kenya is enough need for a pipeline. Involvement of the other three countries can be considered as a bonus.
Click to expand...

Dogo mtata sana wewe..hahahahah....good luck! Its all good and we hope it wont be another Angloleasing et al :A S wink:
 
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