‘Adaptability key to business survival’
DAR ES SALAAM: BUSINESS leaders and economic experts have emphasised adaptability and strategic foresight as essential for Tanzanian businesses to survive and grow amid a volatile global economy.
This was a take away during the CEO Roundtable of Tanzania (CEOrt) engagement meeting held in Dar es Salaam, under the theme “Setting the Stage: Managing Risks and Opportunities Through Global Uncertainty.” The forum united industry leaders to discuss how Tanzanian businesses can stay competitive while adapting to evolving global risks.
The Managing Director of Oryx Gas Tanzania, Mr Araman Benoit reflecting his assessment of the energy sector, described it as increasingly influenced by factors beyond traditional supply and demand dynamics. He warned that geopolitical tensions and climate-related pressures are driving unprecedented volatility, where pricing is shaped as much by speculation and opportunistic trade as by market fundamentals.
According to Mr Benoit, the ripple effects are already evident, with businesses grappling with rising fuel costs, higher freight premiums and mounting foreign exchange pressures.
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These challenges, he noted, are eroding cost predictability and forcing companies to rethink their operational models. He further cautioned that a global shift toward what he termed an “economy of war” is deepening instability. In such a climate, Benoit argued, businesses must prepare for prolonged turbulence rather than short-term disruption.
Providing a macroeconomic outlook, Country Representative of the International Monetary Fund (IMF), Mr Sebastian Acevedo noted that despite global shocks including ongoing geopolitical conflicts Tanzania’s economic prospects remain broadly resilient.
He said that growth is expected to stay robust, supported by strong fundamentals and commodity performance.
However, Acevedo warned that inflationary pressures and foreign exchange constraints could intensify in the near term, potentially affecting trade and tourism. He cautioned against costly, broad subsidies, urging targeted and sustainable social support instead.
Mr Acevedo also stressed investing in human capital and private sector growth, noting Tanzania’s youth population as both an opportunity and a risk if not well integrated into the workforce. From an industry standpoint, CEO of KNAUT East Africa Mr Christoforos Stamoulakatos stressed the need for a shift in how businesses approach risk management.
He urged companies to embed resilience into longterm strategy, balancing vision with agility. With disruptions now constant, he said firms must adopt more flexible planning while maintaining core principles like safety, quality, continuity and cash management despite ongoing challenges.
According to Ms Zainab Msimbe from PwC, Tanzanian business leaders are cautiously optimistic, driven by strong domestic fundamentals but tempered by prudence.
