Dar es Salaam. The Tanzania Investment Centre (TIC) has set an ambitious target of attracting nearly $10 billion in capital investments in 2024.
This goal builds on five consecutive years of impressive growth in foreign and domestic investments, driven by favourable investment laws and incentives, according to TIC’s executive director, Gilead Teri.
“TIC targets to register 1, 000 projects, with $5 billion in foreign capital and $3.5 billion in domestic capital,” he said.
According to Mr Teri, as the government closed the 2023/2024 fiscal year in June, the centre had registered 707 projects worth $6.56 billion.
He said local participation has also been impressive, with 38.19 percent of the registered projects owned by Tanzanians, while foreigners own 42.86 percent, and 19.38 percent are joint ventures between Tanzanians and foreigners.
“These projects are expected to generate 226,585 jobs compared to 53,871 jobs during the same period in the 2022/2023 financial year,” he said.
The top-leading sector was the manufacturing sector, with 313 projects valued at $2.462 billion, followed by the transportation sector, with 128 projects worth $1.03 billion.
The commercial building construction sector was third with 76 projects valued at $1.07 billion, while tourism registered 75 projects valued at $349.40 million, and agriculture had 56 projects valued at $710.02 million.
The $6.56 billion recorded in the preceding fiscal year was the highest recorded in the past five fiscal years, according to the statistics provided by the TIC. During the corresponding period between July 2022 and June 2023, TIC recorded 369 projects worth $5.39 billion.
Data showed that in 2021/2022 fiscal year, 274 projects were registered worth $2.24 billion, while in 2020/2021 fiscal year, 234 projects were registered worth $3.34 billion, and in 2019/2020 fiscal year, the TIC registered 220 projects worth $1.73 billion.
Mr Teri said the investment laws and regulations had played a crucial role in creating a business-friendly environment and influencing investor confidence.
This, he said, includes attractive incentives and tax structures.
“These incentives include tax exemptions for ordinary and strategic investors, reductions in customs duties, and other financial incentives that make investing in Tanzania more appealing,” he said.
Mr Teri said the government decision to also lower the investment threshold to $50,000 for domestic investors will attract more registrations from local investors.
To improve the convenience and ease of investing in Tanzania, the government plans to strengthen the One-Stop Service Centre services at the TIC by introducing an online system for registering investment projects.
“This system allows investors to register their projects from anywhere in the world within one to three days,” said Mr Teri.
He said the centre’s strategic focus on key sectors, coupled with attractive incentives and a commitment to sustainability, will position Tanzania as a leading investment destination in the region.
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Tanzania Confirms Second Marburg Outbreak After WHO Chief Visit
Dar es Salaam — Tanzania’s President Samia Suluhu Hassan has declared an outbreak of Marburg virus, confirming a single case in the northwestern region of Kagera after a meeting with WHO director-general Tedros Adhanom Ghebreyesus.
The confirmation follows days of speculation about a possible outbreak in the region, after the WHO reported a number of deaths suspected to be linked to the highly infectious disease.
While Tanzania’s Ministry of Health declared last week that all suspected cases had tested negative for Marburg, the WHO called for additional testing at international reference laboratories.
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Subsequent laboratory tests conducted at Kagera’s Kabaile Mobile Laboratory and confirmed in Dar es Salaam identified one positive case, while 25 other suspected cases tested negative, the president told a press conference in Dodoma, in the east of the country today (Monday).
“The epicentre has now shifted to Biharamulo district of Kagera,” she told the press conference, distinguishing this outbreak from the previous one centred in Bukoba district.
Tedros said the WHO would release US$3 million from its emergencies contingency fund to support efforts to contain the outbreak.
Health authorities stepped up surveillance and deployed emergency response teams after the WHO raised the alarm about nine suspected cases in the region, including eight deaths.
The suspected cases displayed symptoms consistent with Marburg infection, including headache, high fever, diarrhoea, and haemorrhagic complications, according to the WHO’s alert to member countries on 14 January. The organisation noted a case fatality rate of 89 per cent among the suspected cases.
“We appreciate the swift attention accorded by the WHO,” Hassan said.
She said her administration immediately investigated the WHO’s alert.
“The government took several measures, including the investigation of suspected individuals and the deployment of emergency response teams,” she added.
Cross-border transmission
The emergence of this case in a region that experienced Tanzania’s first-ever Marburg outbreak in March 2023 has raised concerns about cross-border transmission, particularly following Rwanda’s recent outbreak that infected 66 people and killed 15 before being declared over in December 2024.
The situation is particularly critical given Kagera’s position as a transport hub connecting four East African nations.
Amelia Clemence, a public health researcher working in the region, says constant vigilance is required.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”
The Kagera region’s ecosystem, home to fruit bats that serve as natural reservoirs for the Marburg virus, adds another layer of complexity to disease surveillance efforts.
The virus, closely related to Ebola, spreads through contact with bodily fluids and can cause severe haemorrhagic fever.
Transparency urged
Elizabeth Sanga, shadow minister of health for Tanzania’s ACT Wazalendo opposition party, says greater transparency would help guide public health measures.
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“This could have helped to guide those who are traveling to the affected region to be more vigilant and prevent the risk of further spread,” she said.
WHO regional director for Africa Matshidiso Moeti says early notification of investigation outcomes is important.
“We stand ready to support the government in its efforts to investigate and ensure that measures are in place for an effective and rapid response,” she said, noting that existing national capacities built from previous health emergencies could be quickly mobilised.
The situation coincides with leadership changes in Tanzania’s Ministry of Health, with both the chief medical officer and permanent secretary being replaced.
This piece was produced by SciDev.Net’s Sub-Saharan Africa English desk.
Source: allafrica.com
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