The Tanzanian Investment Centre attributes the rise in FDIs to increased confidence of investors in the country's economic prospects.
Tanzania pulled in $1.05 billion of foreign direct investments (FDIs) in Q3 2023, against $524.4 million in Q3 2022. The figures were released by the Tanzania Investment Centre (TIC) on November 18.
According to the TIC, over the past quarter, China was the country’s biggest FDI source. With $614 million poured into the Tanzanian economy, the Asian mammoth came ahead of Singapore ($138.9 million), Germany ($118.6 million), India ($42.3 million), and Mauritius ($24.8 million).
By sector, the real estate and industrial sectors attracted the biggest portion of FDIs. Together, they captured 72% of all FDI recorded over the period concerned. Foreign investors injected, respectively, $480.38 million and $$245.58 million in both sectors.
The TIC takes the overall growth in FDIs from last year as "a sign of increased confidence in the country's economic prospects".
Tanzania’s growth rate is one of the strongest in Africa. The economy quickly recovered from Covid, across most sectors. Fitch Solutions forecast the country’s Real GDP at 5.7% for this year, up from 5.4% in 2022.
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Mobile phones have become essential tools for work, education, payments and staying connected across...
Africa produces what it doesn’t consume, and consumes what it doesn’t produce. That stark line captu...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to the progress and fragility of vaccination campaigns...
A staple of West African cuisine, onions are among the sub-region’s most widely grown horticultural products and a key driver of intra-regional trade,...
Niger adopts draft decree to regulate firearm acquisition, possession, and use New framework introduces stricter controls, traceability requirements,...
Chad and Algeria sign agreement to study a 20,000 bpd refinery project Chad continues to import large volumes of refined products despite crude output...
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...
Burkina Faso launches “SORA” university series filming in Ouagadougou 25-episode project explores student life challenges and...