Tanzania has firmed up its position as East Africa’s fastest growing economy, boosting its chances of attracting high net worth investments.
Tanzania, the region’s second-largest economy after Kenya, grew by 6.9 per cent last year, racing ahead of Rwanda’s 6.5 per cent, Kenya’s 5.6 per cent and Uganda’s 5.2 per cent. Tanzania romped to the high growth trajectory in 2014 when its economy grew by 7.2 per cent, outpacing Rwanda (six per cent), Uganda (5.9 per cent) and Kenya (5.3 per cent).
The International Monetary Fund expects Tanzania to maintain the pole position this year with an estimated growth of seven per cent against Kenya’s 5.9 per cent and Uganda’s 5.5 per cent. Read more. Source | Business Daily