Tanzania has reaffirmed its commitment to becoming a leading investment hub in Africa, inviting investors from the United States to explore the wide range of opportunities available across key sectors of its economy, including mining, agriculture, and technology.
This call was made by the Minister of Finance, Ambassador Khamis Mussa Omar (MP), while leading the Tanzanian delegation to an investment meeting organized by the Business Council for International Understanding (BCIU).
The meeting was held at BCIU offices in Washington D.C., United States, on the sidelines of the World Bank and International Monetary Fund (IMF) Winter Meetings.
Ambassador Omar said Tanzania continues to strengthen its economic performance and improve the business environment to attract long-term investment.
He noted that the country’s economy has been growing steadily, reaching 5.5 percent in 2024, with projections of 6.0 percent in 2025.
He attributed this growth to strong performance in key sectors such as agriculture, manufacturing, mining, construction, and financial services.
He emphasized that the government is actively working to enhance the investment climate and ensure the private sector plays a central role in driving economic growth.
“The government continues to improve the business environment and attract long-term investment to ensure that the private sector fully participates in the country’s economic transformation,” said Ambassador Omar.
He further highlighted that trade relations between Tanzania and the United States have been strengthening.
The value of bilateral trade reached 1.4 billion U.S. dollars in 2024, while foreign direct investment (FDI) from the United States increased significantly from 12.3 million dollars in 2020 to 40 million dollars in 2023.
On investment opportunities, Ambassador Omar pointed out that Tanzania is rich in critical minerals essential for clean energy transition, including graphite, nickel, and rare earth elements. He stressed that the government is encouraging investors to focus on value addition rather than exporting raw materials.
“We do not prefer exporting raw stones. We welcome partnerships that add value from extraction to the production of final high-value products. Tanzania also has a large and growing youth population that demands digital services, making it a strong market for technology investment,” he said.
In the agriculture sector, he noted that Tanzania aims to become a food basket for Africa and the world, urging investors to explore modern farming, agro-processing, and value chain development.
He also pointed to opportunities in the health sector, infrastructure development, and Special Economic Zones (SEZs), driven by strong domestic and regional demand.
Tanzania’s Ambassador to the United States, Dr. Elsie Sia Kanza, said the engagement with U.S. investors reflects ongoing efforts to attract more capital through economic diplomacy.
She noted that Tanzania is preparing to implement its National Development Vision 2050, which aims to transform the country into a trillion-dollar economy by 2050, with the private sector expected to play a major role in achieving this ambition.
Representatives from the Business Council for International Understanding (BCIU), led by President and Chief Executive Officer Peter Tichansky, expressed strong interest in Tanzania’s investment landscape.
They said they had identified significant opportunities in agriculture, mining, health, port infrastructure, information and communication technology, and agricultural insurance.
The investors also highlighted plans to support Tanzania’s agricultural sector through the production of improved seeds and the introduction of crop insurance schemes to protect farmers against losses caused by various risks and challenges.
Overall, the meeting underscored growing confidence among international investors in Tanzania’s economic prospects and its ongoing efforts to position itself as a competitive and attractive investment destination.
