Tanzania

Considered one of the most politically stable nations on the continent, the United Republic of Tanzania achieved lower-middle-income country status in 2020 after experiencing two decades of sustained economic expansion. Its effective governance, sound fiscal policies, abundant natural resources, and strategic location along the Indian Ocean have fostered a resilient and diverse economy and contributed to poverty alleviation efforts.

Gold, copper and other minerals constitute Tanzania’s primary drivers of export revenue. Additionally, the country holds significant gas potential from offshore reserves discovered in 2010 and welcomes foreign investment in sectors such as information and communications technology, infrastructure, energy and mining, financial services, manufacturing and tourism (Tanzania is home to Africa’s highest mountain, Kilimanjaro, and renowned national parks like the Serengeti).

However, the Tanzanian business environment faces challenges, including complex bureaucracy, inefficiencies in electricity and transport infrastructure, an underdeveloped legal framework, and corruption. The country also grapples with lingering high poverty rates and vulnerability to commodity price fluctuations and climate conditions.