MKUMBI II to drive private investment under Dira 2050

DAR ES SALAAM: THE government has moved to validate MKUMBI II, a strategic reform framework aimed at steering Tanzania towards a one-trillion-dollar economy by strengthening the investment climate and improving the overall business environment in line with Dira 2050.

The proposed National Strategy for Improving the Investment Climate and Business Environment known in Kiswahili acronyms as MKUMBI was presented during a high-level validation workshop in Dar es Salaam, bringing together ambassadors, development partners and key stakeholders to refine measures intended to unlock private sector growth and accelerate economic transformation.

The workshop involved ambassadors and representatives of international organisations and development partners.

The country under the new National Development Vision which its implementation is scheduled to begin July 1 this year (2026) intends to attain a trilliondollar economy grounded in building a prosperous, inclusive and self-reliant nation.

Addressing the participants, Minister of State in the President Office Planning and Investment, Professor Kitila Mkumbo noted that the government recognises the importance of friendly business atmosphere, with MKUMBI II envisioned to address existing hurdles for investing in Tanzania by emulating best practices from advanced countries.

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“We can draw clear lessons from countries such as Dubai, South Korea, Singapore and Mauritius. These nations have limited natural resources compared to ours, yet their levels of prosperity are remarkable. Their distinguishing factor has been a predictable, competitive and investor-friendly business environment,” Prof Mkumbo said.

Adding “MKUMBI II seeks to place Tanzania firmly on that path towards a world-class investment climate that supports private sector growth, attracts quality investment, promotes innovation and generates decent jobs for our people,”.

Prof Mkumbo said that Africa’s development trajectory has long been constrained by structural bottlenecks, particularly unfriendly business climates that limit economic freedom and stifle entrepreneurship.

He mentioned overregulation, excessive bureaucracy, unreliable infrastructure, policy unpredictability and corruption as persistent barriers that have slowed investment growth and undermined entrepreneurial dynamism.

Therefore, he said the MKUMBI II seeks to confront these constraints through comprehensive and systemic reforms.