12 °c
London
Friday, June 9, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Tanzania attracts hundreds of investments in just nine months

Staff by Staff
October 31, 2019
in Africa, Agriculture, Construction, Development, Economy, FDI, Government, Tanzania, Transport
Reading Time: 2 mins read
863 9
0
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

The government of Tanzania is leveraging investment as the new currency to transform the development landscape.

Tanzania Investment Centre (TIC) highlights that the East African fastest growing economy (at 7 per cent rate) keeps soaring as it has seized the golden opportunity to attract viable investments across energy, industrial, construction and services sectors.

With the Gross Domestic Product (GDP) growth at 6.6 per cent, investment in Tanzania remains to be the top-selling point.

On October 28, TIC presented rather crucial numbers to the members of the press, showcasing various strides made by the most vital, development parastatal in the country.

According to TIC, over the past 9 months, —227 investment projects have been registered worth over $ 1.7 million.

Further, the projects register fell under the—industrial sector which is anticipated to attract almost 38,836 jobs for Tanzania.

In that context, Bank of Tanzania (BoT), quarterly report (June 2019) indicated that construction, agriculture and transport and storage were among, the top contributors to economic growth.

On the same note, BoT September monthly economic review, showed how, Tanzania has kept decreasing inflation to the medium-term target of 5 per cent, over the past 22 months, substantially lower than both: East African Community (EAC) and Southern African Development Community (SADC) countries maximum of 8 per cent and 3 to 7 per cent respectively.

As inflation plays a crucial role in determining the rate and quality of investment drawn in a country, it is vital to commend Tanzania’s efforts to increase investors’ long-term purchasing power and averting business risks, which is rather a vital credit, especially within competitive business environments.

A local media outlet cited TIC’s Executive Director who provided various highlights regarding Tanzania’s actions taken to increase investment but also spark interest to other vital actors within potential investment spheres.

“Coastal regions and Dar es Salaam have registered many projects, many investors are on the production sector, transportation and services,” he adds.

The distribution of the registered projects was based on the top contributing spheres of the economy as displayed by BoT reports and some were on enhance sectors, which performed well in the first quarter.

The processing sector had 128 projects, transportation had 29, services had 18 projects, agriculture 15, tourism 14, construction 10, human capital 6, energy 6, telecommunication 2 and wildlife had 1 investment project.

It has been noticed for TIC ambitions to resonate with, President John Magufuli’s desire, to make Tanzania the one-stop center for investment.

This means, introducing state of the art air travel facilities, railways, enhancing physical infrastructures, improving farmers’ welfare—who produce raw materials for industries, built by investors, and expanding telecommunication capabilities to keep pace with the modern digital mastery.

Source: The Exchange

Related

Tags: Bank of TanzaniaBoTDar es SalaamEACEast African CommunityExecutive DirectorFeatureGDPGovernment of TanzaniaGross Domestic Productpresident John MagufulisadcSouthern African Development CommunityTanzaniaTanzania Investment CentreTICтанзанияتنزانياタンザニア坦桑尼亚
ScanSendShare349Tweet218Share61Pin78Send
Staff

Staff

Related Posts

Fintech

Blockchain-based technology takes root in African governments

by Web3Africa
June 9, 2023
Angola Capital Markets Commission analyses privatisations through stock exchange
Finance

Ecobank launches single market trade hub

by Africa Global Funds
June 9, 2023
Fintech

Unlimint-CBK partnership expands presence in Africa’s fintech industry

by The Exchange
June 9, 2023
Climate

AfDB launches study on urban infrastructure and climate adaptation in Djibouti

by Fabio Scala
June 9, 2023
Economy

Mozambique to join African Trade Insurance Agency

by Club of Mozambique
June 9, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Fintech

Blockchain-based technology takes root in African governments

by Web3Africa
June 9, 2023
0

African governments take a positive turn towards a decentralized Continent by embracing decentralize applications In 2022, Africa’s fintech sector secured...

Read more
Angola Capital Markets Commission analyses privatisations through stock exchange

Ecobank launches single market trade hub

June 9, 2023

Unlimint-CBK partnership expands presence in Africa’s fintech industry

June 9, 2023

AfDB launches study on urban infrastructure and climate adaptation in Djibouti

June 9, 2023

Mozambique to join African Trade Insurance Agency

June 9, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107,194 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
 

Loading Comments...