Tanzania's economic performance in Q4 2024 exhibited remarkable growth across several indicators. The number of registered investment projects rose by 53.49%, reaching 198, while job creation skyrocketed by 558.04%, with 96,278 new jobs compared to just 14,631 in Q4 2023. Capital investment surged by 60.72%, amounting to US$ 1.62 billion, with manufacturing leading the way at US$ 636.84 million. Foreign-owned projects and joint ventures also increased, along with a 76.19% rise in locally-owned ventures. Dar es Salaam attracted the most projects, cementing its role as the economic hub. Overall, these positive trends signal growing investor confidence and strong economic development in Tanzania.

Number of Projects:

• 198 investment projects were registered in Q4 2024
• This represents a 53.49% increase compared to Q4 2023, when 129 projects were registered

Number of Jobs Created:

• The 198 projects are expected to generate 96,278 new job opportunities
• This is a massive 558.04% increase compared to Q4 2023, which created 14,631 jobs

Capital Invested:

• Total investment value of US$ 1,619.45 million in Q4 2024
• This is a 60.72% increase from US$ 1,007.63 million invested in Q4 2023

Key sectors:

• Manufacturing was the top performing sector, with an estimated capital investment of US$ 636.84 million
• Other top sectors included Commercial Building, Human Resources, Transportation and Tourism

Ownership:

• Foreign-owned projects increased to 89 (from 55 in Q4 2023)
• Joint venture projects increased to 35 (from 32 in Q4 2023)
• Local ownership increased by 76.19%

Regional distribution:

• Dar es Salaam attracted the most projects with 75
• Followed by Pwani (30 projects), Arusha (19 projects) and Dodoma (13 projects)

Tanzania's economic development in Q4 2024 shows strong signs of growth and progress compared to Q4 2023

The improvements in project numbers, job creation, and capital investment reflect growing investor confidence in Tanzania and an improving business environment, contributing positively to Tanzania's economic development.

1. Significant Growth in Investments:
   • The number of investment projects increased by 53.49% from 129 to 198. This shows a notable rise in business activities and interest in the Tanzanian market.
2. Substantial Job Creation:
   • The investments are expected to create 96,278 jobs, a staggering 558.04% increase compared to the 14,631 jobs in Q4 2023. This reflects a major boost to employment opportunities, which can reduce poverty and improve livelihoods.
3. Increase in Capital Investment:
   • The total capital invested grew by 60.72%, reaching US$ 1,619.45 million compared to US$ 1,007.63 million in Q4 2023. This indicates that larger investments are flowing into Tanzania, showing an enhanced investor confidence.
4. Key Sectors Driving Growth:
   • Manufacturing led with US$ 636.84 million in investments, followed by sectors such as Commercial Building, Human Resources, Transportation, and Tourism. Growth in diverse sectors suggests a broad-based development trajectory.
5. Ownership Shifts:
   • Foreign-owned projects increased by 61.82%, and joint ventures rose by 9.38%, showing that international and collaborative investments are rising. More notably, locally-owned projects surged by 76.19%, highlighting stronger domestic participation in the economy.
6. Regional Distribution:
   • Dar es Salaam attracted the most projects, followed by Pwani, Arusha, and Dodoma, showing regional growth distribution. Dar es Salaam's dominance suggests its position as the business hub.