Tanzania has been placed among the Top 10 most attractive destinations for Foreign Direct Investment (FDI) in Africa for the period 2015/2016, in a report recently released by Rand Merchant Bank (RMB) of South Africa.
The report titled “Where to Invest 2015/2016”, constructs investment attractiveness scores based on combination of Gross Domestic Product (GDP), forecasted economic growth for the next five years and an operating environment index.
Tanzania ranks in the tenth position with an overall punctuation of 5.0 with GDP at USD 79.4 billion, GDP average annual growth of 7.0% in 2013-2018 and operating environment score of 4.5.
South Africa heads the list with an overall punctuation of 5.7, GDP at USD 596.5 billion, forecasted GDP growth of 2.7% in 2013-2018 and operating environment score of 6.4.
In addition, the report highlights the fact that Africa received USD 57 billion in FDI net inflows in 2013 which was 7.0% higher than in the prior year.
Tanzania, which received USD 1.87 billion representing the 3.28% of the total FDI net inflows that Africa received that year, ranks among the seventeen countries contributing with more than USD 1 billion to the continent.
Tanzania’s forecasted GDP growth of 7.0% for the next five years is among the highest in the continent according to the RMB’s report.