Tanzania is the second largest economy in the East African Community and the twelfth largest in Africa with a Gross Domestic Product (GDP) of $33.23 billion.
According to the African Economic Outlook, Tanzania continues to enjoy strong export growth and diversification from traditional markets and products, but it remains significantly reliant on primary commodity exports. Manufacturing exports have grown significantly over the past decade, and export markets have been diversified. Industry accounts for about 25% of GDP; the most important industrial sub-sectors is manufacturing, with a GDP share of about 10%.
Tanzania is ranked 145th out of 189 economies in the World Bank’s Doing Business 2014. The report notes that the aggregate score decreased by nine points compared to 2013, due to deterioration in all the sub-indicators. Positive reforms implemented in 2014 made it easier to resolve insolvency. Tanzania improved its credit information system through new regulations that provide for the licensing of credit reference bureaus and outlines the functions of the credit reference data bank.
The top three business environment constraints experienced by private sector firms in Tanzania include access to finance, electricity, and tax rates. As reported by the World Bank’s Enterprise Surveys 2013 data, the value of collateral needed for a loan or line of credit (as a percentage of the loan value) amounts to 263.8, compared to 171.0 in the region, and 189.4 in all countries surveyed.
United Nations Conference on Trade and Development STATS.
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Published on March 22, 2017
Panelists for the East Africa Postharvest Technologies Competition 2017 have selected 46 innovators, from over 200 applicants, to undergo accelerator training on how to package and pitch their technologies to investors. The training will help the innovators expand their opportunities for scaling up and disseminating their technologies to a wider market. The training will take place in Tanzania on April 4-6, 2017.
Applicants are competing for the best technological solutions to address post-harvest losses. They hail from Kenya, Uganda, Tanzania, Rwanda and Burundi.
The Inter Region Economic Network (IREN) is conducting the inaugural East Africa Postharvest Technologies Competition 2017 through a grant from the Hub. The objective is to spur the development of innovative technologies that reduce food loss and waste in Africa.
Published on March 09, 2017
Kenyan millers and traders are set to take up 87 per cent of the 275,000 metric tonnes of grain that East African regional countries have agreed to import from Ethiopia.
The deal, which was facilitated by Eastern Africa Grain Council (EAGC) and USAid’s East Africa Trade and Investment Hub will see traders import 240,000 metric tonnes of maize and pulses from Ethiopia, part of 51 contracts worth Sh5.5 billion that have been agreed with regional countries.
The deal was inked during a regional grain trade facilitation forum co-hosted by Addis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) in Ethiopia this week. Read more. Source | Business Daily
Published on March 02, 2017
Tanzania has performed impressively in making reforms to suit restriction-free capital transaction under the freedom of movement of capital as agreed in the East African Community (EAC) Common Market Protocol.
The 2016 EAC’s scorecard on common market indicates that the country has made six out of 11 legal and regulatory reforms the partner states have undergone between 2014 and 2016 in the free capital transaction.
The report, which was disseminated to stakeholders in Dar es Salaam yesterday looked at issues of security, credit, direct investment and personal capital as critical areas under the free capital transaction.Presenting the report, the World Bank Consultant, Ms Agatha Nderitu, said Uganda made three reforms and Kenya had the remaining two reforms. Read more. Source | Daily News
Published on March 01, 2017
A three-day conference on Tanzania’s agriculture development will start today here.
More than 200 participants will discuss policies and other issues hindering the sector’s growth.
According to Agricultural Non-State Actor Forum executive secretary Audax Rukonge, a World Bank report titled ‘Enabling the Business of Agriculture in Tanzania,’ will also be launched. He told journalists the participants would redefine agro-processing in the context of economic transformation and locate the linkage between upstream and downstream value chain activities. Read more. Source | The Citizen
Published on February 28, 2017
The Tanzania Private Sector Foundation (TPSF) – an apex body of all business associations – took its entrepreneurs’ training to Dodoma on Friday as it seeks to enhance financial literacy and entrepreneurship skills for micro, small and medium enterprises (MSMEs).
According to the TPSF executive director Godfrey Simbeye, Tanzania has at least 3.1 million MSMEs, which need to be empowered through various ways for them to contribute immensely to the country’s economic development. Read more. Source | The Citizen
Published on February 13, 2017
Over 200 innovators, researchers and individuals from Tanzania, Kenya, Uganda, Rwanda and Burundi are expected to showcase technologies to curb post-harvest food losses in Nairobi, Kenya on May.
The Inter Region Economic Network (IREN), Chief Executive Officer (CEO), James Shikwati said the exhibition has been organised to address challenges in the post-harvest management of food-crop commodities and enhance labor.
The competition will enable organisers to identify a range of technologies to ultimately mitigate post-harvest losses in East Africa. Read more. Source | Daily News
Published on January 27, 2017
The Tanzanian agri hub of Arusha is expecting the arrival of more than 2000 farmers and agri experts this week for the first outdoor, B2B farming expo of its kind as Agritech Expo Tanzania kicks off on Thursday 26 January.
“The Agritech Expo Tanzania team is ready and excited, as are our partners and exhibitors,” says event director Yolanda dos Santos.
She adds: “we look forward to giving all our visitors a great experience at the show. We have an extensive offering, from demonstrations of the latest, innovative technology and farm equipment to crop trials, free interactive training and farmer workshops to professional consultations and loads of networking opportunities. The event promises to be a game changer for the agri sector in Tanzania!” Read more. Source | The Exchange
Published on January 18, 2017
Seizing AGOA Opportunities in East Africa is a production of the USAID East Africa Trade and Investment Hub (The Hub). It highlights the work of the Hub’s Component 3 – Trade Promotion and AGOA, and briefly describes the legislation AGOA.
The trifold also outlines the general steps to follow when exporting to the U.S. under AGOA, and provide information on how to engage with the Hub on issues of trade promotion and AGOA.