Tanzania has reaffirmed its ambition to position itself as a leading investment destination in Africa, calling on investors from the United States to take advantage of expanding opportunities in mining, agriculture, technology, infrastructure and other key sectors of the economy.
The call was made by the Minister of Finance, Ambassador Khamis Mussa Omar (MP), while leading a Tanzanian delegation at an Investment Forum organised by the Business Council for International Understanding (BCIU) in Washington D.C., United States.
The meeting took place at the BCIU offices on the sidelines of the World Bank and International Monetary Fund (IMF) Winter Meetings.
Ambassador Omar told investors that Tanzania continues to record steady economic growth and is strengthening its business environment to attract sustainable investment.
He said the economy grew by 5.5 percent in 2024 and is projected to reach 6.0 percent in 2025, driven mainly by agriculture, mining, manufacturing, construction and financial services.
He emphasized that the government is committed to ensuring that the private sector plays a central role in economic transformation through improved policies, reforms and a more predictable investment climate.
The Minister further noted that trade relations between Tanzania and the United States have continued to grow.
He said bilateral trade reached 1.4 billion U.S. dollars in 2024, while direct investment from the United States increased from 12.3 million dollars in 2020 to 40 million dollars in 2023, reflecting rising investor confidence in Tanzania’s economy.
He highlighted that Tanzania is richly endowed with strategic minerals such as graphite, nickel and rare earth elements, which are critical for global clean energy industries.
He encouraged investors to focus on value addition by investing in processing industries rather than exporting raw materials.
Ambassador Omar also pointed to Tanzania’s large and youthful population as a key driver of digital transformation.
He said the growing demand for digital services presents strong opportunities for investors in technology, innovation and telecommunications.
In agriculture, he said Tanzania is positioning itself as a major food basket for Africa and the world. He called for increased investment in modern farming systems, irrigation, agro-processing and value addition to boost productivity and strengthen food security.
He also noted opportunities in the health sector, infrastructure development and Special Economic Zones, which continue to attract rising demand from both local and regional markets.
Tanzania’s Ambassador to the United States, Dr. Elsie Sia Kanza, said the engagement is part of the country’s broader economic diplomacy strategy aimed at attracting more foreign direct investment.
She said Tanzania is now implementing its Vision 2050, which targets building a trillion-dollar economy by 2050, with the private sector expected to be a key engine of growth.
The forum, chaired by the President and Chief Executive Officer of BCIU, Peter Tichansky, brought together U.S. investors who expressed strong interest in Tanzania’s economy.
They noted opportunities in agriculture, mining, healthcare, port infrastructure, information and communication technology, and agricultural insurance.
Investors also highlighted plans to support agricultural transformation through improved seed systems, modern farming technologies and crop insurance schemes to protect farmers against risks and climate-related challenges.
The meeting reflects growing international confidence in Tanzania’s economic direction and its continued efforts to create a competitive and investor-friendly environment for sustainable development.
