Tanzania - Investment Surge.21 Aug 2024 06:46
Gilead Teri was pictured with LB in the last Insta post, this article from Businness Insider Africa came out the very same day. Coincidence? If not, still great news for Tanzania.
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Tanzania experiences a huge surge in investment projects in 2024
Chinedu Okafor
19 August 2024 12:55 PM
Between the first six months of 2024, Tanzania registered 409 investment projects, worth $3.09 billion, as reported by the Tanzanian newspaper, The Citizen. Of these projects, 385 were new, with 24 slated for further development.
This milestone is part of the intended 1000 investment projects worth $5 billion in foreign investment and $3.5 billion in domestic investments, for 2024.
According to the TIC, the number of projects registered in the first half of 2024, is 293 more times that of the previous year, during the same period.
This year, 185 of the investment projects were initiated by foreign investors, 165 by Tanzanians and 59 joint ventures between local and foreign investors.
In an exclusive with the Citizen, the director of the Tanzania Investment Center Mr. Gilead Teri revealed that Tanzanians are being taught about the relevance of domestic investments.