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26 EMERGING MARKETS TANZANIA
An economic leader not just in East Africa, but across sub-Saharan Africa, Tanzania is a highly attractive foreign investment destination and continues to uphold its status as one of the continent’s premier emerging markets.
Tanzania’s economy remains as one of the fastest growing across Africa, it has shown impressive signs of resilience in the face of spluttering continental market conditions and has ultimately made progress in terms of diversifying its economy.
GDP growth for 2016 is estimated at nearly 7% despite easing up after the second half of the year,  gures which con rm the nation’s continued appetite for economic progression.
Tanzania’s impressive growth has been built on diligent commercial activity within several sectors including gold mining, tourism
and agriculture, all of which experienced increased export earnings in 2016.
With a growing young demographic able
to sustain its various sectors, along with a reducing poverty rate, the East African nation looks set to continue on its upward trajectory for many years to come.
A crucial  xture behind Tanzania’s sustained socio-economic development has been a stable political regime, which welcomed
President John Magufuli to the position in October 2015.
Nicknamed ‘the bulldozer’ for instigating multiple road construction programmes, along with his uncompromising approach to corruption, Magufuli has been true to his moniker during his presidency thus far.
This political rationale has not only provided a backbone for continued socio-economic development, but has also made Tanzania a more alluring prospect for foreign investors.
During 2015, Tanzania ushered in 20 new FDI projects, an increase of 25% on the previous year, before moving up to  fth place in terms of attractiveness as an FDI destination in EY’s 2017 Africa Attractiveness report.
These recent statistical reports serve as a tangible vindication of the diversi cation of Tanzania’s economy, beyond its traditional markets. Recent oil and gas discoveries have played their part, but the nation has also shown a willingness to expand other key industries in order to attract investment.
A number of civil infrastructure projects, largely  nanced by Chinese investors, are underway including road, rail and port developments, which will strengthen the country’s urban centres and stimulate further growth across several industries.


































































































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