The Latest

AfDB Reiterate Financial Support to Tanzania

May 16, 2019
1 minute read
AfDB support to Tanzania 2019

The President of the African Development Bank (AfDB) Hon. Dr. Akinwumi Adesina met with the President of Tanzania, Hon. Dr. John Bombe Magufuli in Dar es Salaam on May 15th, 2019.

Dr. Adesina congratulated Tanzania and President Magufuli for the country’s strong economic growth of 7% per annum on average and therefore for being among the countries experiencing the fastest economic growth in the world.

He also congratulated him for the cooperation with neighboring countries such as Uganda to achieve the construction of the pipeline project transporting crude oil from Hoima in Uganda and the Tanga port in Tanzania.

Moreover, Dr. Adesina said that the AfDB is ready to help solve the problem of markets for the crop produced in different regions of Tanzania and promised that the Bank will support the project for the construction of a road connecting Isaac in Tanzania to go to Kigali in Rwanda that will also benefit neighboring countries, namely Burundi and the DRC Congo.

For his part, President Magufuli thanked Dr. Adesina for the great cooperation which the AfDB offers to Tanzania and assured him that the funds provided by the Bank will bring the expected results.

AfDB in Tanzania

Tanzania is the second largest beneficiary of the concessionary funding window of the Bank, the African Development Fund (ADF).

The AfDB has funded projects worth TZS 4.55 trillion in Tanzania with the latest approved funding aimed at road construction projects, and the construction of an international airport in the Tanzanian capital Dodoma.

Want to know more about the Economy in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers the Economy, plus regulations, key sectors, and investment opportunities—all in one place.

Download Free Guide
Tweet
Share
Share
Share
Related Posts
Tanzania Khamis Mussa Omar Parliament bunge
Read More

Tanzania 2026/27 Budget of TZS 62.33 Trillion Targets 6.3% GDP Growth and Investments in Railways, Offers New Businesses One-Year Tax Holiday

Tanzania's 2026/27 budget is set at TZS 62.33 trillion (USD 24 billion), up 10.3% from the previous financial year, targeting 6.3% GDP growth with 74.2% financed from domestic revenue as grants fall 39.1%. Key investor measures include halving the deemed profit-distribution tax from 30% to 15%, a one-year income tax holiday for newly registered businesses, retained VAT deferment on imported capital goods, and VAT exemptions across compressed natural gas, electric vehicle charging equipment, and LPG infrastructure.
Samia Suluhu Hassan Tharman Shanmugaratnam
Read More

Tanzania and Singapore Sign Double Tax and Other Agreements, TISEZA Hosts Business Forum to Strengthen Trade and Investment

Tanzania and Singapore signed five agreements and memoranda of understanding during President Tharman Shanmugaratnam’s state visit to Tanzania, covering taxation, trade facilitation, public service capacity building and diplomatic cooperation. The two countries also reaffirmed plans to deepen collaboration in investment, digital transformation, logistics, financial services and industrial development as bilateral trade reached USD 74 million and Singaporean investments in Tanzania exceeded USD 535 million.
Kitila Mkumbo Parliament Bunge
Read More

Tanzania Planning and Investment Budget 2026/2027 Backs New Investment Policy and Diaspora Bonds, with Five Strategic SEZs to Draw TZS 797 Billion

Beyond a new National Investment Policy 2026 and five strategic Special Economic Zones expected to draw over TZS 797 billion, Tanzania's TZS 144.85 billion Planning and Investment Budget 2026/27 sets a target to make the country a leading African vehicle producer by 2030 and creates Youth Industrial Special Economic Zones across six regions. Flagship projects already underway include Hengya Cement (USD 530 million), Airtel's USD 480 million 5G rollout, and Songea Sukari's USD 352 million sugar complex.
Samia Suluhu Hassan Vladimir Putin
Read More

Tanzania and Russia Expand Investment Cooperation as Air Tanzania Launches Moscow Flights and TISEZA Signs Cooperation Agreement

Tanzania and Russia have expanded economic cooperation following President Samia Suluhu Hassan’s state visit to Russia, with Air Tanzania announcing direct flights to Moscow, the Tanzania Special Economic Zones Authority (TISEZA) signing a cooperation agreement with Russia’s Roscongress Foundation, and both countries identifying new investment opportunities in mining, agriculture, energy, infrastructure, and technology.

Want to know more about investing in Tanzania? Our free Tanzania Business and Investment Guide 2026 covers key sectors, regulations, and investment opportunities—all in one place.

Download Free Guide