Browsing: EU Tanzania Trade

• 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), …

In the wake of circulating rumours that the European Union (EU) has resolved to withhold 626 million Euros in grant money, Tanzania has gone on the defense and denounced the rumours as false, unfounded and misleading. 

Tanzania’s Ambassador to Belgium, Jestus Nyamanga took to social media to deliver a video response to the ‘unfounded allegations,’ which he described as bias, malicious and meant to stir confusion among the public. 

“There are no talks to impose any sanctions on Tanzania…” he said, and  added allegations purported that the EU Parliamentary Committee session held on November 20 in Brussels had resolved to withhold grant money to Tanzania and was deliberating economic sanctions on the country. 

“This is not true,” the Ambassador asserted, “…the meeting … was a regular session of the Parliamentary Committee on Foreign Affairs and that session did not issue any resolution on Tanzania.” 

According to the Ambassador, the …