TMX unveils new system  of  collecting the government’s levies

DAR ES SALAAM: THE Tanzania Mercantile Exchange (TMX) has announced a new initiative aimed at simplifying the collection of government levies, particularly Local Government Authority levies.

 This move is expected to enhance the efficiency and impact of the exchange on both the nation and society at large. It has been hailed as a significant achievement in improving trade systems and increasing TMX’s contribution to economic development.

Speaking today at the ongoing Sabasaba International Trade Fair in Dar es Salaam, TMX’s ICT Officer, Goodluck Luhanjo, said the exchange’s digital platform has made levy collection more efficient and accessible. He cited the example of the coffee crop in Kagera Region, where in 2022 alone, TMX helped collect 3.02 billion Tanzanian shillings in local government levies, evidence of the system’s effectiveness.

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Luhanjo added that TMX is focused on enhancing trade efficiency to help farmers easily track market trends. He also noted plans to introduce additional trading systems that will boost participation in the platform, making it more inclusive and modern.

Despite these achievements, Luhanjo pointed out that a major challenge remains the lack of public awareness about how the TMX purchasing system operates. Their participation in the Sabasaba trade fair is therefore aimed at educating Tanzanians on how the platform works.

Overall, TMX continues to play a vital role in connecting farmers, traders, and the government by simplifying the movement of goods to market, increasing price transparency, and improving revenue collection for local authorities and the government. The electronic system is seen as a key driver of transformation in Tanzania’s agricultural and trade sectors.