Tanzania woos investors as US$1tr economy plan gains pace
LONDON, UK: TANZANIA has urged international investors to tap into opportunities in infrastructure, energy, industry, agriculture, mining and financial services as the country steps up efforts to transform its economy.
Minister for Finance Ambassador Khamis Mussa Omar made the call in London while leading Tanzania’s delegation at the Tanzania Strategic Investment and Partnership Forum, which brought together senior executives from global financial institutions, insurance companies and risk management firms.
Ambassador Omar explained that the government was working to create a more favourable investment climate through policy reforms and incentives, with the aim of attracting the private capital needed to implement the National Development Vision 2050.
He further noted that the vision targets a US$1trn economy by 2050, with the private sector expected to provide about 70 per cent of the financing required to achieve the ambitious goal.
“Tanzania welcomes investors to partner with us in unlocking opportunities that will drive economic growth and deliver sustainable development,” Ambassador Omar said.
Presenting the country’s economic outlook, the minister further explained Tanzania’s economy grew by 5.9 per cent in 2025, up from 5.5 per cent in 2024, while inflation remained below five per cent, reflecting relatively stable macroeconomic conditions.
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According to him, the fiscal deficit had fallen to 3.1 per cent of Gross Domestic Product (GDP), while domestic revenue now covers about 74.2 per cent of the national budget.
Public debt, he added, remained sustainable, according to an assessment by the International Monetary Fund (IMF).
On the other hand, Deputy Chief Executive Officer of Standard Bank Europe Ian Carson and Stanbic Bank Tanzania Chief Executive Officer Manzi Rwegasira reaffirmed their institutions’ commitment to connecting Africa with global financial markets and described Tanzania as an attractive destination for long-term investment.
They said the strong participation at the forum demonstrated growing investor confidence and interest in partnering with Tanzania on projects capable of driving economic growth and generating long-term value.
Tanzania’s High Commissioner to the United Kingdom, Ambassador Mbelwa Kairuki, said the government would continue engaging regularly with the international investment community to strengthen partnerships and attract new investment.
“Tanzania is pursuing an ambitious programme of economic transformation anchored on sound macroeconomic management, structural reforms and private sector participation,” he affirmed.
During the forum, investors sought updates on major projects, including the US$42 billion Liquefied Natural Gas (LNG) project.
Ambassador Omar said negotiations on the project had made significant progress, adding that the remaining issues were largely matters being addressed among the commercial partners involved.
Investors also expressed interest in the Standard Gauge Railway (SGR), the ports of Dar es Salaam, Tanga and Mtwara, and regional trade corridors that could strengthen Tanzania’s position as a gateway to neighbouring countries.
The government told investors that almost the entire 2,000-kilometre SGR network is expected to be completed by 2030/31, a development that would further strengthen Tanzania’s role in regional trade and logistics.
Other issues discussed included foreign exchange availability, energy security, the digital economy, agriculture and value-addition initiatives such as the Cotton-to-Cloth programme.
The forum, organised by the Ministry of Finance in collaboration with Standard Bank, is part of Tanzania’s broader economic diplomacy efforts to attract investment and deepen partnerships with global investors.
