Sunday, February 25, 2018

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Tanzania is on the road to recovery 2010

Poul Wathne

Because of population growth must be created 700,000 new jobs every year in Tanzania.

Tanzanian politicians are telling (2010), that Tanzania is perhaps at the same point now as where India was 20 years ago and where China was 30 years ago, just before their economic booms set in. The key reasons for Tanzania’s growth are urbanization and expanding labour force, and the middleclass consumer.

In 1980, just 25 per cent of Tanzania’s lived in cities. Today nearly 50 per cent of Tanzania’s people do, roughly comparable to China’s and larger than India’s. By 2020, that share is projected to rise to about 60 per cent.

Tanzania’s labour force is expanding in contrast to what’s happening in much of the world. Tanzania has more than 20 million people of working age. By 2020, there will be more than 25 million lifting GDP growth.

The advent of ICT (Information and Communication Technologies) in Tanzania has been critical to the development of the economies and has become the source of more than dollar 3 billion in private investments between 1995 and 2008.

This has not only helped to bridge the knowledge gab between Tanzania and the rest of the world, but has also offered transformational opportunities by enabling access to finance and enhancing the dynamism and efficiency of the markets.

Tanzanian politicians are telling that there is increasing interest from Asian countries, beyond China, in the myriad of opportunities opening up in Tanzania. Tanzania is one of the countries in the future global economies.