Browsing: EU Tanzania business Forum

• In the year before Samia’s administration, Tanzania’s FDI closed 2020 at $3.16 billion though the Covid-19 pandemic might have impacted the inflows.
• Between March 2021 and February 2023, the number of registered funded projects rose from 455 to 575, equivalent to a 26 percent increase.
• Investment expansion in Tanzania trickled down towards the community during the period under review, and job creation grew from 61,900 to 87,187.

Over the past six years, Tanzania investment sector has gone through a somewhat cyclic pattern. Former President John Magufuli’s polices were deemed unfriendly by investors forcing capital to flee to more predictable and profitable markets.

However, in the last two years, there has been a wind of change brought about by President Samia Suluhu who has taken a pro-business approach focused on improving international business and diplomatic relations in the region and across the world.

According to data from Tanzania Investment Centre (TIC), …

• The European Union Investment Bank (EIB) have agreed with commercial banks to unlock a whole new business financing valued at around $580 million.
• The EU is optimistic about the government’s efforts to attract businesses and support investment
• Tanzania Development Vision (TDV) 2025 indicates that about 54.3 percent of Tanzania’s small, medium and micro enterprises (MSMEs)

Over the past two years, President Samia’s administration has not only brought back confidence to investors who left Tanzania but attracted new ones and reinforced the old partners, including the United States.

Tanzania is walking confident with almost $1 billion in investment from various companies from the US, thanks to President Samia’s US visit in April 2022.

The European Union Investment Bank (EIB) and other investors have agreed with commercial banks in Tanzania to unlock a whole new business financing valued at around $580 million.

The support is breathing life into additional capital to small …