Tanzania has received $1.2 billion (Sh2.8 trillion) in investment in only three months

Tanzania increased investment by 52.4% in the first quarter of 2023 compared to the same period the previous year, owing to a better economic climate. From January to March, Tanzania received $1.2 billion (Sh2.8 trillion) in investment through projects filed with the Tanzania Investment Centre (TIC), compared to $787.4 million (Sh1.8 trillion) in 2022. According to the most recent TIC report, which was made available to the media yesterday, the investment will be made in 93 projects, which will create over 16,400 job opportunities. Tanzania is expected to see a 135% increase in TIC-registered project investment in March of this year compared to February. According to TIC, the capital set to be invested increased from $339 million in February to $796 million in March. Despite the fact that the trend shows a 9.8% decrease in the number of registered projects over the study period. 37 projects were registered in March 2023, compared to 41 in February 2023. In the same month, local investors held 50% of total projects, 31% were held by foreigners, and 19% were joint ventures.