Tanzania: The Jewel of Investment in Africa
Are you looking for an emerging investment destination in Africa? Look no further than Tanzania, the hidden gem of the continent!
But why is Tanzania becoming the go-to destination for investors? Let’s dive into the details!
With a growing economy, strategic location, natural resources, tourism industry and business-friendly policies, Tanzania offers investment potential in various sectors.
Tanzania’s pro-business stance is attracting increasing investment to the country. In February 2023, the number of registered projects reached 41, which marks a 128% increase from February 2022.
These projects had a total value of $339.2 million and are expected to create 7,370 jobs, indicating significant growth compared to the previous year. In the previous year, only 18 projects were registered with a value of $75.9 million and an expected job creation of 1,247.
Tanzania’s investment growth is attributed to streamlined licensing and permit procedures, along with strong government support. The transportation sector led with 46% of the total project value, followed by agriculture, manufacturing, tourism, and commercial buildings.
Transportation was the most significant sector with a total project value of 156.17 million USD, accounting for 46% of the total investment.
Agriculture and manufacturing were the second and third most significant sectors with a total project value of 90.20 million USD (27%) and 53.68 million USD (15.8%), respectively.
Tourism and commercial sectors also received investments, with a total project value of 29.02 million USD (9%) and 10.15 million USD (3%), respectively.
The manufacturing, tourism, and agriculture sectors emerged as the top three leading sectors in attracting foreign direct investment from foreign businesses.
Under President Samia Suluhu Hassan’s leadership, Tanzania’s investment landscape is transforming. Subsequently, the Ministry of Industry and Trade transferred the investment docket to the President’s Office. Tanzania’s pro-business stance is attracting investors with a 413% increase in expected capital investment from January to February 2023. This makes it an attractive investment destination.
At Select Global Solutions, we understand the importance of keeping businesses informed about the latest developments in the region. As an Executive Search and Recruitment firm that specialises in Africa, India, the Middle East, and other emerging markets, we help client secure the right talent and provide job seekers with access to exclusive job listings and guidance on the hiring process. With our extensive network and expertise, we help clients and job seekers achieve their goals in Tanzania and beyond. Additionally, we provide tailored solutions and support throughout the entire recruitment process.
To learn more about our services, please visit our website at https://www.selectglobal.co.in/.
Don’t miss out on the opportunity to invest in Tanzania and reap the benefits of this hidden gem.
Contact us today!
Note: The data mentioned above has been collected from multiple reliable sources.