The President of the United Republic of Tanzania, Dr. John Pombe Joseph Magufuli has paid a surprise visits to the Bank of Tanzania (BOT) on 10th…
Pombe Joseph Magufuli (born 29 October 1959) was sworn in as Tanzania’s fifth President on November 5th, 2016.
First elected as a Member of Parliament in 1995, he served in the Cabinet of Tanzania as Deputy Minister of Works from 1995 to 2000, Minister of Works from 2000 to 2006, Minister of Lands and Human Settlement from 2006 to 2008, Minister of Livestock and Fisheries from 2008 to 2010, and as Minister of Works for a second time from 2010 to 2015.
During his inauguration speech as President, he indicated that industrialization will be a key priority for the Government.
For this, industries, producing goods for mass consumption, such as clothes, textiles and edibles, will be encouraged.
The Government will also focus on electricity development, which is a necessary step for achieving industrialization, President Magufuli announced.
In addition the Government will support Tanzania’s industry through the establishment of an industrial development bank and reduction of taxes on locally produced goods.
During a Q & A open session with reporters at the State House in Dar es Salaam in November 2016, Magufuli noted that Tanzania is on track of achieving its 7.2% GDP growth target in 2016.
He also indicated that the manufacturing sector’s contribution to the GDP must grow from the current 7.3% to 15% in 2020.
To achieve this, the Government is creating an enabling environment for the private sector to thrive.
Accordingly, the Tanzanian Government seeks to attract both public and private sector investment into various economic developments.
Furthermore, the government is in talks with China, India, and other African countries to improve economic and trade relations and attract investments in manufacturing, tourism, infrastructure, and social services.
Magufuli earned his bachelor of science in education degree majoring chemistry and mathematics as teaching subjects from the University of Dar es Salaam in 1988. He also earned his master’s and doctorate degrees in chemistry from the University of Dar es Salaam, in 1994 and 2009, respectively.
Chama Cha Mapinduzi (CCM) political party’s presidential candidate, Dr. John Magufuli, has been recently declared by the Tanzanian National Electoral Commission (NEC) as the winner…