Browsing: Invest in Tanzania

• 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 …

• The tripling of investment in 2022 is a statement to the world that the East African nation is open for business.
• The success is a straightforward strategic plan from President Samia’s administration since she assumed office in March 2021.

Tanzania Investment Centre (TIC) records show that the year 2022 has made the statement ‘Invest in Tanzania’ hold water. Over the past months, several activities have echoed across multiple fields, including manufacturing, transportation and tourism.

TIC records show that from July to November 2022 there was an increase of 22.2 percent in investment projects (132 registered projects) compared to 102 projects registered during the same period in July to November 2021.

In October, the American firm Moody’s Investors Service changed its status on Tanzania’s outlook from stable to positive, noting that political risks have declined under President Samia Suluhu Hassan’s administration, which concurrently promotes economic development and strong diplomatic ties.

Tanzania’s …

• China is one of Tanzania’s biggest trade partner
• Tanzania’s industrial economy has been growing over the past decade
• Tanzania has nabbed US$3 billion investment from China company

Investment in Tanzania is changing the labour market and industries in Tanzania for the better.

The government of Tanzania is doubling down on expanding its industrial complex as the new industrial scheme stands to draw around 100,000 direct jobs and 300,000 by 2025 and change Tanzania economy for good.

Tanzania’s industrial economy is slated to expand twelve-fold in the next three years, adding more support to the minor industrial landscape currently operating nationwide, while expanding the list of reasons to invest in Tanzania.

Industries in Tanzania have become a critical component of economic transformation.  Tanzania has more than 62,000 small industries which add value to raw materials extracted internally.

READ: Tanzania bagging billions in natural gas investments

According to the Ministry of Investment, …

President Suluhu Hassan has welcomed American investors in her bid to “set the tone for creating the safe lending for investors”.

By 2021, Tanzania led in East Africa in the number of FDI attracted from the US to Tanzania, followed by Kenya and Uganda.

Over the past years, there was deterioration in Tanzania’s business and investment sector that marred the nation’s attractiveness.

The latter brought Tanzania to rank 141 out of 190 countries on the 2020 World Bank Ease of Doing Business Report, which the International Trade Administration argued to be the lowest among the nation’s peers.

Hence, President Suluhu Hassan’s administration is addressing the latter. Her government has now substantially improved cross border trading with its neighbouring nations, dealing with unrealistic taxes, unnecessary bureaucracy, delayed refunds and unfriendly administration of taxes.…

East Africa (Tanzania and Uganda in this case) is endowed with plenty of natural resources that mark it as a potential region for investment and economical prosperity. The East Africa Crude Oil Pipeline (EACOP) is another milestone that will levitate Tanzania to a good position economically.

The crude oil project which was stalled since 2019, has taken a new leap that sounds promising to the two countries which are eyeing maximizing the potential of $15 billion in investment (The East African 2021).

Earlier this week, the project was signed off by Uganda President Yoweri Museveni in the nation’s capital, Kampala and Tanzanian President Samia Suluhu. The process was postponed from the original date of March 22 after the sudden death of President John Magufuli.

The EACOP project landscape

This historic project plans to transfer crude oil via a 1,445 long pipeline extending from western Uganda to the Indian ocean in …