The Central Bank of Tanzania (BOT) has authorized the merger of Twiga Bancorp Limited and TPB Bank Plc with effect from 17th May, 2018, the Deputy Governor Bernard Kibesse has announced in Dar es Salaam on Wednesday.

The Bank of Tanzania (BoT) has moved to shut five non-performing lenders down in a bid to protect the stability of the neighbouring country's banking system.

Tanzania's government signed a $154 million contract on Saturday with the state-run China Harbour Engineering Company (CHEC) to expand the main port in the commercial capital, Dar es Salaam.

Tanzania's central bank has cut the minimum reserve ratio required of commercial lenders to 8 percent from 10 percent, the latest monetary easing measure aimed at reducing borrowing costs and stimulating economic growth.