Economy

Tanzania is one of sub-Saharan Africa’s fastest-growing economies, boasting average GDP growth of around 7% per year since 2000. Significant investment in rail, port and road development is likely to drive GDP expansion into the next decade. While the ongoing process of economic reform presents challenges to some sectors, and weak budget execution and policy uncertainty have dampened investment, the overall macroeconomic picture remains favourable. The presence of abundant natural resources, a reform-oriented government and a 53m-strong population that is growing at an annual rate of 3% are just some of the key growth drivers that will help Tanzania remain an interesting prospect for investors. This chapter contains an interview with Godfrey Simbeye, Executive Director, Tanzania Private Sector Foundation.