Marcopolis

Tanzania Report

Marcopolis presents the Tanzania Report focused on topics such as economy, investments and doing business, featuring interviews with Tanzania's leaders. The sectors under review in this issue are agriculture, banking, construction and real estate, energy, financial services, exports, industry, tourism, logistics and many more. 

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VideosMarch 29, 2021

Mohammed Dewji: "We Are Very Open for Investment and I Welcome People on Behalf of Tanzania"

Written by Sandra Francisco
Published: March 29, 2021

Mohammed Dewji, Owner and President of MeTL Group, shares his thoughts on investment opportunities in Tanzania.

"There is a lot of negative press around our beautiful country, Tanzania. I just want to put things into perspective. I believe that there is huge investment opportunity in Tanzania. In the last five years, specifically, even through Corona, we were one of the fastest growing economies in the world. We took a gamble in that there was no lockdown. Many countries went into negative growth but Tanzania has done very well. If you look at macroeconomics, we did get hurt in the tourism sector. But the fuel prices were low so that compensated for the amount of dollars we needed to use to import fuel. Gold prices were up. Tanzania is one of the top five exporters of gold. Over the last five years, Tanzania's currency has only devalued less than 1% against the US dollar. Inflation is about 3% to 3.5%. Our late President Magufuli has been very strong in terms of zero tolerance on corruption. This is good for our country and for Africa in general because he has changed the rules of the book. Gone are those days where people would just come and get a free ride. I just want to give confidence to people to come and invest. We are very open for investment and I welcome them on behalf of Tanzania", says Mohammed Dewji.

 

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