Prime
Youth in focus as Tanzania sets $15bn investment goal
TIC registered 901 projects valued at $9.31 billion in 2024, generating over 212,000 jobs for Tanzanians. PHOTO | FILE
What you need to know:
- The plan announced by the Tanzania Investment Centre is part of wider efforts to generate jobs for the country’s burgeoning youth population
Dar es Salaam. After record-breaking performance in 2024, Tanzania has set an ambitious target of attracting $15 billion in investments this year as part of wider efforts to generate jobs for its rapidly growing youth population.
The government, which facilitated the creation of 8,084,204 jobs across the public and private sectors between November 2020 and February 2025, aims to maintain this momentum through the implementation of 1,500 new investment projects in 2025.
According to Tanzania Investment Centre (TIC) executive director Gilead Teri, the goal is a response to the centre’s exceptional performance in 2024, when it registered 901 projects valued at $9.31 billion, generating over 212,000 jobs for Tanzanians.
“Our initial target for 2024 was 1,000 projects and $10 billion in capital. While we fell slightly short in the number of projects, we achieved a record in value and job creation,” Mr Teri said yesterday in Dar es Salaam.
The positive trend has continued into 2025. Between January and May, TIC registered 372 projects—an 11.04 percent increase from the 335 projects recorded during the same period last year.
The value of these projects rose significantly, reaching $3.75 billion, up 31.9 percent from $2.84 billion during the same five-month period in 2024. The projects are expected to create 41,117 jobs upon completion.
Sectoral gains led by manufacturing
Manufacturing led all sectors with 156 projects valued at $1.48 billion. This was followed by transportation with 56 projects ($337.83 million), agriculture with 40 projects ($849.43 million), tourism with 39 projects ($107.26 million) and commercial buildings with 36 projects ($160.33 million).
Mr Teri attributed much of this growth to recent legislative reforms.
The Investment Act No. 10 of 2022 lowered the minimum capital requirement for local investors from $100,000 to $50,000, broadening participation and inclusivity.
“TIC’s strategic shift to prioritise Aftercare services—supporting existing investors and resolving challenges they face—has been instrumental in stimulating reinvestment and new joint ventures with Tanzanians,” he said.
Between January and May 2025, TIC conducted follow-up evaluations on 737 registered projects to address challenges and ensure progress. The Centre is also preparing to monitor 500 additional projects registered since 2019.
Foreign interest and growing joint ventures
Foreign-owned projects accounted for half of the total registrations (186), while locally owned projects made up 30.37 percent (113). Joint venture projects showed notable growth, increasing by 62.5 percent to 73 projects, up from 24 in the same quarter of 2023/24.
“This rise in joint ventures reflects a growing spirit of collaboration between Tanzanian and foreign investors,” Mr Teri noted.
Regional distribution
Dar es Salaam remained the top destination for investment, attracting 134 projects, followed by Pwani (90), Arusha (29), Dodoma (14) and Geita and Morogoro (13 each).
TIC’s involvement in trade exhibitions, investor training and investment promotion missions—both inbound and outbound—has further strengthened its engagement with both domestic and foreign investors.
With strong early-year performance, investor-friendly reforms and a proactive support strategy, Tanzania is positioning itself as one of East Africa’s most attractive and dynamic investment destinations.
