The race for economic supremacy in the East African region is set to take a more competitive twist as projections point to Tanzania overtaking Kenya in the next 10 years.
According to the International Monetary Fund (IMF), Tanzania’s economy, which now stands at $85.4 billion (Sh200 trillion), is set to grow into a $136 billion economy by 2028.
In contrast, Kenya’s economy, which is the largest in East Africa at $118.1 billion, will be a $151 billion economy by 2028.
However, based on the economic outlook provided by the IMF and banking on the GDP growth trends of the two countries, Tanzania will outpace Kenya’s economic growth and will have a larger economy in the next 10.
Sub-Saharan Africa accounts for 46 of the continent’s 54 countries, excluding giants such as Morocco and Egypt.
Nigeria remains the largest economy in the region with a GDP, in current prices, of $506.6 billion followed by South Africa ($399 billion), and Ethiopia ($156.1 billion).
GDP growth between Tanzania and Kenya
Kenya – 5.3% – Tanzania – 5.2%
Tanzania – 6.4% – Kenya – 5.4%
Tanzania – 6.5% – Kenya – 5.5%
Tanzania – 6.8% – Kenya – 5.5%
Tanzania – 7% – Kenya – 5.5%
Tanzania – 7% – Kenya – 5.5%
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Tanzania: Exim to Raise Fund for Mental Health Facilities Upgrades
EXIM Bank to raise 300m/- over the next three years for financing essential services and infrastructure upgrades in mental health facilities.
The bank’s Head of Marketing and Communications Stanley Kafu unveiled this when introducing Exim Bima Festival 2024 as a platform for bringing together individuals, organisations and various sectors for raising the funds.
“Exim’s initiative aligns with the government’s broader goals to ensure that every citizen has access to quality healthcare, including mental health services,” he said.
The initiative, which is one of the events for celebrating the bank’s 27th anniversary is scheduled for Wednesday this week in Dar es Salaam.
Mr Kafu highlights that this year’s festival is not only about raising awareness of the importance of insurance in the society but also focuses on enhancing access to mental health services and improving the overall well-being of the nation.
Statistics from the Ministry of Health shows a staggering 82 per cent increase in mental health cases over the past decade.
Mental cases have risen from 386,358 in 2012 to 2,102,726 in 2021, making the need for mental health services more urgent than ever.
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Unfortunately, the country’s ability to address this growing challenge is hindered by a shortage of mental health professionals, infrastructure, medical equipment and essential medication.
For example, out of the 28 regions in the country, only five have facilities that provide adequate mental health services.
The most affected group is the youth aged 15 to 39, who represent the nation’s workforce, underscoring the need for intensified efforts to safeguard this generation for Tanzania’s future well-being and development.
Mr Kafu said by improving mental health services, Exim aims to contribute to the creation of a network of communities that can access care quickly and affordably.
Exim Insurance Department Manager Tike Mwakyoma said they are appreciating the support from partners in the insurance industry, who have stood by them since the last festival.
“Let’s continue this unity for the development of all Tanzanians and our nation as a whole,” the manager said.
Source: allafrica.com
