Tanzanian Foreign Private Investment Trend on Upward Incline

The 2012 Tanzania Investment Report released over the weekend announced that between 2008 and 2011 Tanzania has met a 10.3% annual growth rate in attracting Foreign Private Investment (FPI), and that FPI stock increased from 7.751 million USD to 10.393 million during the same time period.

The report, which examined FPI and Investor Perspective, was based on findings by the Tanzania Investment Center (TIC), the Bank of Tanzania (BoT), and the National Bureau of Statistics (NBS).

In addition to the report’s FPI growth rates, other key finding revealed that inflows to gas and electricity have increased dramatically; investors’ perceptions on investment in Tanzania were positive in most sectors; the expansion of the telecommunications and banking sectors has led a positive impact on investment; and manufacturing followed by agriculture ranked highest in employment.

Speaking at the launching of the report, Juliet Kairuki, Executive Director of the TIC announced that between TIC’s opening in 1996 and 2013, the organization has registered 4,230 Tanzania-owned enterprises, 2,119 foreign-owned enterprises, and 2,137 joint ventures.