On 20th January 2020, the UK hosted the UK-Africa Investment Summit in London, sponsored by Standard Bank, Africa’s largest banking group by assets.
The UK maintains bilateral relations with Tanzania in many areas, particularly trade and security.
Tanzania UK Trade
The total trade between the two countries increased from GBP139.8m in 2010 to GBP143.4m in 2015, representing an increase of 3%.
During the same period, exports from Tanzania to the UK increased from GBP21.6m to GBP23.1m, while imports from the UK to Tanzania increased from GBP118.2m to GBP120.3m.
Tanzanian exports to the UK are dominated by tea, tobacco and precious stones, while UK exports to Tanzania are mainly dominated by automobiles and electronic appliances.
UK Investments in Tanzania
The UK is the largest supplier of foreign direct investment (FDI) to Tanzania with 36% market share, followed by the US and China.
British investments in Tanzania are spread out across multiple sectors, such as mining, manufacturing and agriculture.
At the end of 2015, the governments of the UK and Tanzania signed a Memorandum of Understanding (MoU) on social development representing a total investment of GBP110m.
The funds will be provided through the British Department for International Development (DFID) over the next 5 years.
Tanzania ranks fifth in the top five countries receiving UK’s aid through the DFID with 48 active projects totaling GBP178m, while Pakistan tops the list with 32 active projects totaling GBP368m.
UK Tourist Arrivals to Tanzania
The UK was the second largest source of international visitors to Tanzania from overseas countries in 2014 with 60,034 arrivals.
British Airways used to operate direct flights between London and Dar es Salaam. However, flights to Tanzania, Zambia and Zimbabwe were suspended in 2013 due to lack of profitability for the airline on the route.
The United Kingdom will provide USD 450 million to support various development projects in Tanzania.
The United Kingdom (UK) will continue to support Tanzania’s economic development to provide a long-term solution to poverty, enhance job creation and trade in the…
Sarah Cooke, the new British High Commissioner to Tanzania, committed to strengthening the bilateral relations between the two countries.
The President of Tanzania, Dr. John Magufuli, has appointed Dr. Asha-Rose Migiro (Songea, 9 July 1956) as Ambassador of Tanzania in the UK.
Edenville Energy Plc (LSE:EDL), a UK-based energy and mining company, has recently been granted with a mining license by Tanzania’s Ministry of Energy and Minerals…
The Swedish International Development Agency (SIDA) and the British Department for International Development (DFID) have recently signed a memorandum of understanding (MoU) for TZS 241…
The Governments of the United Kingdom and Tanzania have recently signed a Memorandum of Understanding (MoU) on social development representing a total investment of GBP…
UK-based BG Group plc has reported results from a second drillstem test (DST) offshore in the Southern Tanzania Mzia discovery, which shows higher than expected…
The UK Trade & Investment (UKTI) agency is encouraging increased investment from UK firms in the emerging opportunities in the Ghana, Kenya, Uganda, Mozambique and…