Growth in Tanzania is concentrated in telecommunications, financial sector, tourism, retail trade, mining and construction. In the health sector, general success has been achieved in extending access to basic health services. The economy of Tanzania is sustained by agriculture and telecommunication sector, the tourism sector, the mining and the banking industry, also it is known for the export of gold, diamonds, silver, copper and graphite.
Top 5 Investment Opportunities in Tanzania
1. Telecom and ICT
The potential in telecom and Information & Communications Technology (ICT) remains enormously high and untapped, even the government of Tanzania has poured large amount of capital and energy into national fibre optical cable network, otherwise known as ICT, which also follows its connection till submarines. This sector will also benefit from government and non-government investment, where even more importance will be given towards mobile banking because it has no reached its full potential yet.
This is one of the most highly profitable business enterprises one can get into because even the government of Tanzania is ready to issue license to the investors who are willing to invest into it because the aviation industry is still the growing ones.
3. Agricultural Business
In the past years as the GDP is increased the calorie intake during this time has increased accordingly which shows the fact of growing demand for vegetables and meat. Tanzania is blessed with diverse climate conditions and fertile land and water to support its agriculture. Distributions of all these products should also improve the demand of supermarket chains.
4. Travel & Tourism
Beautiful destination attracts tourists and makes it a plus point for the country to increase the GDP. It also increases the employment, and is considered as the fastest growing sector in the Tanzania and is still open for investors.
5. Logistics & Warehousing
Manufacturing industries will grow which will create the necessity of logistics and warehousing for many sectors. Now, the government of Tanzania is also making efforts to bring a change with the help of financial institutions and currently is working on Tanzania-Kenya Road project because roads and railways are the keys towards smooth functioning and improving distribution and life in Tanzania.
The future of Tanzania has an unwavering opportunity for individuals to invest and for new enterprises to spring up. The industries are ever-booming and new opportunities are available because this is one of the African countries that can guarantee good returns because you will be buying into the bigger picture of opportunities where you can successfully set up a business in Tanzania.
Business Setup Worldwide is a consultancy company which helps entrepreneurs with company incorporation, accounting, book keeping, audit, and intellectual property protection and cooperate secretarial services in Tanzania. To know more, contact us – we’d be happy to help.