Dar es Salaam. Economists are advising the government to prioritise the optimisation of resources, foster an investment-friendly atmosphere, and reform policies and laws to combat poverty and bolster private sector expansion.
Speaking to The Citizen yesterday, the experts stressed the importance of undertaking structural reforms aimed at alleviating poverty and catalysing growth within the private sector.
Prof Semboja Haji Hatib, a seasoned economist who teaches at the University of Dar es Salaam and the State University of Zanzibar (Suza), emphasised the necessity for comprehensive transformational systems.
“All policies should prioritise the optimal utilisation of resources, which inherently diminishes poverty,” he said.
He further emphasised the need for transparency in government institutions, asserting that appointments should be based on merit rather than personal connections to ensure efficient resource management.
“Capable individuals should compete for top positions in public institutions so that they perform like the private sector,” he said, adding that those appointed due to personal connections, should not be expected to reduce and eliminate poverty.
Echoing similar sentiments, economics lecturer at Dar Es Salaam University College of Education (DUCE), Prof Abel Kinyondo, highlighted the disparity in benefits between sectors like telecommunications, mining, and infrastructure development, which predominantly benefit a select few, and sectors with larger employment potential being left underdeveloped.
“To combat this imbalance, we must bridge sectors with significant employment potential with those experiencing substantial growth to lift more individuals out of poverty,” said Prof Kinyondo.
Recognising the demographic dividend, he underscored the benefits of Tanzania’s youthful population, stressing the significance of providing them with essential skills for both self-employment and the job market to drive economic progress.
However, he said the population growth in Tanzania is more of an advantage than a disadvantage because Tanzania has a young population, which means it can equip them with skills and benefit the country in terms of human capital.
“If we equip these young people with skills for self-employment, it’s a solid reason for our country to make significant economic progress. But if our young people remain without skills, it could be even a bigger disaster,” he said.
He emphasised that what needs to be done is to link sectors with many people and those with good growth so that more people can benefit from them and move out of poverty.
“Even the review of laws and policies should consider this because the growth of various sectors in the country should improve the living standards of individuals,” he explained.
Economics lecturer at Sokoine University of Agriculture (SUA), Dr Chris Magomba, underscored the importance of implementing strategic structural reforms, particularly in sectors such as education, infrastructure, telecommunications, and energy, to reduce business costs, enhance connectivity, and attract private sector investments.
“We need a combination of structural reforms that can create an enabling environment for economic growth and development,” he said.
“We should also focus on promoting innovation and facilitating technology transfer, which can drive growth in sectors such as the digital economy and advanced manufacturing,” he added.
The executive director of the research think tank Repoa, Dr Donald Mmari, said to achieve these goals, investment environments need to change in the country by amending policies and laws to be more investor-friendly, both domestically and internationally.
“Investing in reforms that facilitate innovation and technology transfer is paramount for driving growth in emerging sectors like the digital economy and advanced manufacturing,” Dr Mmari said.
Share this news
This Year's Most Read News Stories
Tanzania: Samia Hands Over NBC’s 354m/ – Crop Insurance Compensation to Farmers Affected By Hailstorms
President Samia Suluhu Hassan, has handed over a cheque of 354m/- from the National Bank of Commerce (NBC) as compensation to tobacco farmers, who were affected by hailstorms during the previous farming season in various regions across the country.
Handing over the cheque in Dodoma, the compensation is part of the crop insurance service provided by NBC in collaboration with the National Insurance Corporation (NIC).
Furthermore, President Samia has also handed over health insurance coverage to members of the Lindi Mwambao Cooperative Union based in Lindi Region, through the Farmers’ Health Insurance service provided by the bank in partnership with Assurance Insurance Company.
While visiting the bank’s pavilion at the Nanenane Agricultural Exhibition and being received and briefed by the bank’s Managing Director, Mr. Theobald Sabi, she said: “This crop insurance is one of the crucial solutions in ensuring farmers have a reliable income, without fear of challenges such as natural disasters, including hailstorms.
“I call upon all farmers in the country to make the best use of this important opportunity by accessing these kinds of insurance services. I also highly commend NBC and all the stakeholders participating in this programme.”
Elaborating further on the crop insurance service, the Minister of Agriculture, Hussein Bashe, stated that it will help to recover the loss farmers incurred, especially in various calamities beyond their control.
Citing them as floods, fires, and hailstorms, which have significantly affected the well-being of farmers and caused some to be reluctant to invest in the crucial sector, Mr Bashe added: “However, our President, this step by NBC is just the beginning, as this is the second year since they started offering this service, and the results are already visible.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
“As the government, we promise to continue supporting the wider implementation of this service, with the goal of ensuring that this crop insurance service reaches more farmers.”
ALSO READ: NBC participates in TFF 2023/24 awards, promises to enhance competition
On his part, Mr Sabi said that the farmers who benefited from the compensations are from 23 primary cooperative unions in the regions of Shinyanga, Geita, Tabora, Mbeya, Katavi, and Kigoma.
He added: “In addition to these insurance services, as a bank, through this exhibition, we have continued with our programme of providing financial education and various banking opportunities to farmers, alongside offering them various loans, including loans for agricultural equipment, particularly tractors, to eligible farmers.:
At the NBC booth, President Samia also had the opportunity to be briefed on the various services offered by the bank to the farmers namely crop insurance and health insurance services.
There, the President had the chance to speak with some of the beneficiaries of the services, including the Vice-Chairman of the Lindi Mwambao Primary Cooperative Union, Mr. Hassan Mnumbe, whose union has been provided with a health insurance card from the bank.
Source: allafrica.com
Cracks show as Zanzibar’s CCM ruling party looks to 2025 polls
Cracks show as Zanzibar’s CCM ruling party looks to 2025 polls over Mr Karume’s allegation against the administration. Time for the ruling party to take stock?Continue Reading
Tanzania: Exim to Raise Fund for Mental Health Facilities Upgrades
EXIM Bank to raise 300m/- over the next three years for financing essential services and infrastructure upgrades in mental health facilities.
The bank’s Head of Marketing and Communications Stanley Kafu unveiled this when introducing Exim Bima Festival 2024 as a platform for bringing together individuals, organisations and various sectors for raising the funds.
“Exim’s initiative aligns with the government’s broader goals to ensure that every citizen has access to quality healthcare, including mental health services,” he said.
The initiative, which is one of the events for celebrating the bank’s 27th anniversary is scheduled for Wednesday this week in Dar es Salaam.
Mr Kafu highlights that this year’s festival is not only about raising awareness of the importance of insurance in the society but also focuses on enhancing access to mental health services and improving the overall well-being of the nation.
Statistics from the Ministry of Health shows a staggering 82 per cent increase in mental health cases over the past decade.
Mental cases have risen from 386,358 in 2012 to 2,102,726 in 2021, making the need for mental health services more urgent than ever.
ALSO READ: NBC’s Saving Campaign Empowers Customers Nationwide
Unfortunately, the country’s ability to address this growing challenge is hindered by a shortage of mental health professionals, infrastructure, medical equipment and essential medication.
For example, out of the 28 regions in the country, only five have facilities that provide adequate mental health services.
The most affected group is the youth aged 15 to 39, who represent the nation’s workforce, underscoring the need for intensified efforts to safeguard this generation for Tanzania’s future well-being and development.
Mr Kafu said by improving mental health services, Exim aims to contribute to the creation of a network of communities that can access care quickly and affordably.
Exim Insurance Department Manager Tike Mwakyoma said they are appreciating the support from partners in the insurance industry, who have stood by them since the last festival.
“Let’s continue this unity for the development of all Tanzanians and our nation as a whole,” the manager said.
Source: allafrica.com
