Tanzania’s economic outlook has received a vote of confidence after global credit rating agency Fitch Ratings reaffirmed the country’s Long-Term Foreign-Currency Issuer Default Rating at ‘B+’ with a stable outlook, pointing to continued economic growth and improving fiscal stability.
In its latest assessment, the agency projects Tanzania’s economy to grow by about 6 percent in both 2026 and 2027, driven largely by strong performance in sectors such as mining, agriculture and large infrastructure investments.
Among the major projects expected to support growth is the ongoing development of the Standard Gauge Railway, which is expected to enhance transport efficiency and boost trade across the country and the wider East African region.
The agency also noted that Tanzania’s fiscal position remains relatively stable. The budget deficit is projected to remain around 3 percent of Gross Domestic Product (GDP), while the debt-to-GDP ratio is expected to decline gradually to about 47 percent in the coming years.
However, Fitch pointed out some structural challenges that could affect the country’s credit profile, including a relatively low revenue-to-GDP ratio and limited foreign exchange reserves, which currently cover around 2.5 months of external payments.
Despite these concerns, the rating affirmation indicates sustained investor confidence in the country’s macroeconomic direction.
Meanwhile, activity in the mining sector continues to create opportunities for suppliers and contractors after several companies issued new tender announcements.
FEMA Mining & Drilling Limited, based in Mwanza, has invited bids from suppliers and service providers for various goods and services to support its operations.
The tender covers several categories including personal protective equipment (PPE), catering services, spare parts for light vehicles and trucks, lubricants, drill rig consumables, drilling services, and loading and hauling services.
Interested bidders are required to submit sealed bids to the Procurement Manager at the company’s offices in Mwanza before April 15, 2026 at 10:00 AM East African Time.
Another opportunity has been announced by Bulyanhulu Gold Mine Limited, operated by Barrick Gold Corporation through its partnership with the Government of Tanzania under Twiga Minerals Corporation.
The mine has invited Expressions of Interest (EOI) from qualified contractors for a specialized infrastructure project involving the design, supply, installation and commissioning of a 40-foot containerised IT data centre at the East Ridge Plant.
Interested companies must demonstrate at least three years of experience in similar projects and provide a detailed company profile along with regulatory documents including registration certificates from the Business Registrations and Licensing Agency and a valid tax clearance certificate from the Tanzania Revenue Authority.
The deadline for submitting expressions of interest is April 8, 2026 at 6:00 PM Tanzanian time.
At the same time, employment opportunities have been announced in the financial sector after ASA Microfinance Tanzania opened several positions for qualified Tanzanians.
The institution is seeking to recruit two Internal Audit Officers, two Human Resources Officers and one Accounts Manager, all based in Dar es Salaam.
Applicants for the Internal Audit Officer position must hold a degree in accounting or finance, a CPA (T) qualification and at least five years of professional experience.
For the Human Resources Officer role, candidates are required to have a degree in human resource management or administration and at least two years of relevant professional experience.
The Accounts Manager position requires a degree in accounting or finance, CPA (T) certification and a minimum of two years of experience as an auditor or in a related role.
Interested applicants are required to send their CV and cover letter via email to recruitment@asatanzania.co.tz or submit applications directly to the company’s Head Office at Plot No. 87, Meese Street, Kinondoni Road in Dar es Salaam.
The deadline for submitting applications is April 15, 2026.
Economic analysts say the combination of stable credit ratings, continued investment in the mining sector and new employment opportunities reflects Tanzania’s steadily expanding economic environment and growing investor interest in the country’s key sectors.
