Tanzania

Billionaire Motsepe Faces Legal Battle Over $195 Million Lawsuit in Tanzania

2 months ago

In a high-stakes legal battle, billionaire Patrice Motsepe is embroiled in a significant lawsuit originating from Tanzania, where he is accused of failing to comply with a contractual agreement that involves a staggering $195 million. This case has attracted considerable media attention, given Motsepe's noteworthiness as one of Africa's wealthiest individuals and a prominent figure in the mining and investment sectors.

IMF Strikes $266 Million Deal with Tanzania to Boost Economic Stability

2 months ago

In a significant development for Tanzania's economic landscape, the International Monetary Fund (IMF) has formalized an agreement with the East African nation that will unlock $266 million in funding. This financial support is crucial for Tanzania as the nation seeks to bolster its fiscal health and navigate the challenges posed by both global economic fluctuations and domestic pressures.

Tanzania Implements Economic Shift by Mandating Gold Sales to Central Bank

3 months ago

The government of Tanzania recently announced a major policy turnabout, requiring all miners to sell gold directly to the country's central bank. This bold move aims at maintaining the national economy on an even keel by increasing its precious metal reserves.