Tanzania is fast becoming one of the best investment destinations in the world

By Chinedu Okafor

Tanzania’s pro-business stance, perpetrated by the president of the country, Samia Suluhu Hassan, is sending a positive message to investors, who are increasingly choosing Tanzania as their preferred investment destination, with the number of registered projects increasing by 128 percent, according to the most recent data.

Projects registered in February 2023 had a total value of Tsh973 billion (US$339.2 million) and were expected to create 7,370 jobs. This reflects a 347 percent growth over the US$75.9 million in capital estimated to be pumped into the country’s economy in February 2022.

The jobs expected from the new projects portray a 493 percent increase over those created by projects registered in February 2022.

Tanzania Investment Centre (TIC) executive director Gilead Teri noted via the TIC’s Monthly Investment Bulletin for February 2023 that through President Hassan’s initiative to simplify business license registration, coupled with her devotion to growing the investment portfolio of the country, Tanzania has been able to become the attractive investment destination it is in her young tenure so far.