Tanzania lures UK investment in Clyde& Co-backed forum

LONDON: THE Tanzanian Minister of State, President’s Office – Planning and Investment, Professor Kitila Mkumbo, has assured investors in the United Kingdom that Tanzania is a safe country, politically stable, and committed to continuously improving a business-friendly investment environment.

Minister Mkumbo made the remarks while speaking at the Tanzania-UK Investment Forum organized by the Clyde & Co Institute during his ongoing working visit to the country.

In his speech, Minister Mkumbo said Tanzania is embarking on its journey towards the National Vision 2050 from a strong position, driven by economic stability, political tranquility, and ongoing reforms aimed at enhancing the business environment.

He highlighted that Tanzania’s economy has continued to strengthen following the COVID-19 pandemic, with growth accelerating from 4.7percent in 2022 to 5.9percent in 2025, and it is projected to reach 6.3percent in 2026.

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He added that inflation has remained below 5% for over a decade, providing confidence in the country’s economic stability.

Discussing the investment climate, Minister Mkumbo noted that the government continues to enhance peace and security, implement ongoing reforms in taxation and regulatory systems, to improve transparency, policy predictability, and service efficiency for investors.

He emphasized that the Investment Centre of the Tanzania Investment Centre and Special Economic Zones Authority (TISEZA) has been restructured from two separate institutions into one, in order to increase efficiency and provide better services to investors.