Welcome to Tanzania
By Sudi Am mba
26.03.2023
Tanzania officially the United Republic of Tanzania is known as the ‘’Heart of Africa’’ because this beautiful country is a bridge between different regions in the continent.
It is located in East Africa within the African Great Lakes region. It borders Kenya to the northeast, Uganda to the north, Comoro Island and the Indian Ocean to the east, Malawi and Mozambique to the south, Zambia to the southwest; Burundi, Rwanda, and the Democratic Republic of the Congo to the West.
Tanzania’s tourism is the country’s primary foreign exchange earner generating USD 2.4 billion in 2018. International tourist arrivals reached 1.4 million in 2018. You have the assurance of personal safety, and warm friendly people. Tanzanians are friendly
and very warm.
Whether you are a nature lover, culture, or adventure seeker, there is a diverse range of experiences for visitors, something for everyone to enjoy: wildlife, culture, scenery, adventure, exploration…
Tourists have opportunities for adventure, hiking, climbing, trekking, diving, and snorkeling in the Indian Ocean.
This is a destination of natural beauty and cultural richness. It is home to some of the world’s iconic wildlife including the big five: lions, elephants, leopards, buffalos, and rhinos.
There is a large variety of birds and other animals on safari in the Serengeti National Park, Ngorongoro Conservation Area, and the Selous Game Reserve.
There are stunning natural landscapes like Mount Kilimanjaro, the highest peak in Africa, the Ngorongoro Crater (one of the world’s most natural wonders), Serengeti National Park, Tarangire National Park, Sebu game reserve, islands of Zanzibar and Mafia with a marine park home to whale sharks and coral reefs.
For those interested in food, and culture, Tanzania is home to over 120 different ethnic groups and each has its unique traditions and customs.
Have you heard of Pilau Rice?
It’s a very popular spicy rice dish accompanied by curried meats or vegetable dishes. Visitors have the chance to explore the cultural and historical heritage of the country by visiting the Maasai, Hadzabe tribes or places like Stone Town, an ancient city located on the island of Zanzibar.
Others attractive places include: Tanga, Morogoro, Mbeya, Iringa, Bagamoyo, Mtwara, Dodoma, Singida, Kilimanjaro, Manyara, Arusha, Tabora, Mwanza, Kigoma, Simuwi, Musoma, Mara, .
In terms of business opportunities, Tanzania is an attractive market and investment destination due to its potential, large population, strategic geographic location, abundant natural resources, economic growth, and reforms.The cost of doing business is low, there is a young and rapidly growing population that presents a large potential market for many products and services.
The country has an ambitious industrialization plan (TDV) to transform into a middle–income economy by 2025. To reach this goal, the energy and transportation infrastructure sectors need to be more reliable and efficient.
The Tanzanian government wants to focus on developing local industries and investing in large infrastructure, energy, and agricultural development which present fantastic opportunities for international companies.
There are opportunities within the private sector. The country is one of the largest producers of gold in Africa and has significant reserves of coal, natural gas, and other minerals.
Tanzania’s major exports include agricultural commodities such as tobacco, coffee, cotton, cashew nuts, tea, cloves, beans, maze, rice, mangoes, oranges, avocados, sea cucumber, and others like gold, and manufactured goods.
Tanzania is the 2nd largest producer of pyrethrum in the world used to produce spray for killing mosquitoes, flies, insects…It is also used for animal treatment.
Key strategic investment opportunities:
- Infrastructure (rails, ports, urigation dams…)
- Manufacturing (value additions)
- Fishing (deep sea fishing)
- Mining (gold, tanzanite…)
- Oil and natural gas
- Petro chemical
- Blue economy
- Renewable energy,electricity
- Real estate developments eg. Pemba island,
- Technology transfer
- Agriculture, modern farming, livestock (value added)
WHY INVEST IN TANZANIA?
- Tanzania is a growing economy, in July 2020, the nation graduated from low–income country (LIC) to lower–middle–income country (LMIC).
- The GDP has been increasing at an average of 7% annually over the last decade.
- Tanzania is a member of SADC, EAC, COMESA which promotes trade and investment among its member countries. (a population of over 600 million people). The East African Community (EAC) is a regional intergovernmental organization that comprises of Kenya, Uganda, Rwanda, Burundi, South Sudan, Tanzania and the
Democratic Republic of Congo. (283.7 million population (2021). - The strategic position of the country gives easy access to regional markets for goods and services. (a large consumer base). US$ 305.3 billion (2021) GDP.
- Tanzania is also a member of the AfCFTA, the largest trade bloc in the world with 1.4 billion people, a combined GDP of about $3.4 trillion expected to double by 2050.
- The government is committed to easing doing business by simplifying regulations, procedures and making it faster, less costly to start and operate a business. They want to remove all unnecessary bureaucracies to allow you to start your business or investment faster. Investor incentives are high and open to both non–national and foreign investors. They are creating a more favourable business environment by implementing economic reforms, improving infrastructure and investing in human capital.
- The government of Tanzania has been investing heavily in infrastructure development such as road construction, ports, airports, power generation to enhance the ease of doing business and improve the accessibility of goods and services.
In one sentence : Tanzania is open for business. The country has huge potential benefits due to its economic growth, natural resources abundance, government support, stable political environment, security, strategic location.
It’s worth noting that investments in any field require proper research and due diligence. The potential returns on investment may not always be guaranteed.
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