{"id":35170,"date":"2021-08-18T16:12:48","date_gmt":"2021-08-18T16:12:48","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=35170"},"modified":"2021-08-18T14:19:10","modified_gmt":"2021-08-18T14:19:10","slug":"basil-mrambas-key-legacy-in-tanzanians-economic-transformations","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/basil-mrambas-key-legacy-in-tanzanians-economic-transformations","title":{"rendered":"Basil Mramba’s key legacy in Tanzanian’s economic transformations"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>Dar es Salaam.<\/b><\/p>\n

Former Finance minister Basil Mramba, 81, who passed on yesterday leaves behind a legacy that Tanzanians will live to remember.<\/p>\n

Having been in government since the days of Mwalimu Julius Nyerere, the departed politician had had a role in a number of economic initiatives including paving the way for Tanzania\u2019s last year graduation from a least developed country into a lower middle income economy.<\/p>\n

He was Finance Minister from 2001 to December 2005.<\/p>\n

Under President Benjamin Mkapa, Tanzania was undertaking major economic reforms aimed at transforming the country from a state-controlled economy to a private sector-led one.<\/p>\n

That was precisely the time when the government started to look at the private sector as a partner in economic development, shifting from a widely-held African socialism view of state monopoly.<\/p>\n

The five years were crucial in institutionalizing dialogue between the public and private sectors through the formation of Tanzania National Business Council (TNBC) in 2001.<\/p>\n

The rest could be history but what is also unshaken is that while the Mkapa administration came to office with revenues of only Sh331 billion for the entire financial year 1994\/95 and with an inflation rate of 27.4 per cent, the situation was a completely different one in 2005.<\/p>\n

The government administration managed to set things right and during the five years that Mramba was Finance Minister, Tanzania\u2019s economy grew at an average rate of 6.6 percent.<\/p>\n

Until the financial year 2005\/2006, revenue collections reached Sh2.125 trillion. The country had enough foreign exchange reserves to cover 5.3 months of the country\u2019s import cover while inflation rate had been contained to single digits.<\/p>\n

It was on the back of such a track record during the Mkapa era that former President Jakaya Kikwete also picked Mr Mramba as one of his key ministers when he came to power in 2005, making him responsible for the Industry and Trade docket.<\/p>\n

Like other politicians, Mr Mramba, who succumbed to Covid-19 related complications at the Regency Medical Centre, also went through a number of challenges.<\/p>\n

In Rombo District, where he formerly served as a Member of Parliament, residents would remember him for his tireless efforts in connecting the area to Moshi with a tarmac road.<\/p>\n

\u201cWhen I was in secondary school, I used to hear about Mramba and that means he had had a role in every development initiative that we now see in the area,\u201d said Mr Amani Shirima a resident of Rombo.<\/p>\n

Former Prime Minister Frederick Sumaye said the departed politician was on the list of distinguished Tanzanians who participated in talks with the International Monetary Fund (IMF) and the World Bank (WB).<\/p>\n

The talks finally saw Tanzania being granted in 2001, a debt relief of $3 billion which reduced the country\u2019s total external debt by 54 percent. It also reduced the amount to be paid as interest on the loans.<\/p>\n

\u201cHe was a transparent person who always wanted to involve people in whatever he was doing for the nation. That helped to lay the foundation for the economy that people know today,\u201d he said.<\/p>\n

Former Chief Secretary Ambassador Ombeni Sefue said he remembers Mr Mramba as a loving and hardworking leader.<\/p>\n

Prior to becoming Finance Minister, Mr Mramba worked as Mbeya Regional Commissioner for five years starting 1995.<\/p>\n

Mramba\u2019s son, Godfrey, said yesterday that the funeral will be held at his residence on Mawenzi Road Oysterbay, noting however that a detailed programme would be shared at a later date.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. Dar es Salaam. Former Finance minister Basil Mramba, 81, who passed on yesterday leaves behind a legacy that Tanzanians will live to remember. Having been in government since the days of Mwalimu Julius Nyerere, the departed politician had had a role in a number of economic initiatives including paving the way for […]<\/p>\n","protected":false},"author":84,"featured_media":35169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[6990,6991,711],"class_list":["post-35170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nBasil Mramba's key legacy in Tanzanian's economic transformations - Tanzania<\/title>\n<meta name=\"description\" content=\"Dar es Salaam. 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