Tanzania has surpassed Kenya as the top place in East Africa for corporate investment.
The announcement came yesterday from Juliet Kairuki, Executive Director of Tanzania Investment Centre, after the release of Rand Merchant Bank’s 2013 Global Investment Banking report.
Tanzania and Kenya were the only two East African Union countries to make the list of top 10 African nations, placing 9th and 10th, respectively, followed by Rwanda (12th), Uganda (16th), and Burundi (41st).
The scores are determined by a combination of GDP, five-year economic growth forecasts, and an environment index.
IPP Media stated that the Global Investment Banking report, “further notes that the country’s investment into extractive and export infrastructure should support total productivity gains in the interim, but a boost to the current account will only be apparent by 2020.“
Of the world’s top 10 fastest growing economies over the next six years, seven- including Tanzania- are from Africa.
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