Tanzania pulled in a staggering US$3.5 billion in foreign direct investment during the 2023/24 fiscal yearthe highest in its recorded history. The Tanzania Investment Centre (TIC) facilitated 707 new investment projects, nearly doubling the prior year’s count of 369 projects
Manufacturing led the charge with 196 projects, part of a broader surge across energy, agriculture, and services. This FDI influx reflects stronger investor confidence, driven by streamlined investment processes and macroeconomic stability.
The growing stock of FDI and improved business climate position Tanzania as a standout in Africa’s investment landscape.
The Tanzania Investment Centre attributes this growth to strategic policy reforms, improved ease of doing business, and tax incentives. Additionally, large infrastructure projects such as the Standard Gauge Railway (SGR) and Julius Nyerere Hydropower Project have drawn foreign participation.
Experts predict sustained FDI growth as Tanzania continues to strengthen its position in regional and global trade.
