Last week, the Work Bank mentioned Tanzania as a nation with a robust business environment with rising business rising investments especially in the country’s oil/gas sector.
Tanzania, according to the report, registered strong growth, supported by expansion in construction and service sectors.
The report stated that economic activity in Sub-Saharan Africa slowed in 2015, with GDP growth averaging 3.0%, down from 4.5% in 2014 meaning that the pace of expansion declined to a state last seen in 2009.
The figures are according to Africa’s Pulse, the World Bank’s semi-annual analysis of economic trends.
In several instances, the adverse impact of lower commodity prices was compounded by domestic conditions such as electricity shortages, policy uncertainty, drought, and security threats, which resulted in adverse effects on growth.
The report however, states that Tanzania has a favourable policy environment which makes it easy for investors to do business.