Tanzania Investment Centre Registers 901 Projects Worth $9.3 Billion in 2024, Signaling Robust Economic Growth
The Tanzania Investment Centre (TIC) has achieved a remarkable milestone by registering 901 investment projects valued at $9.3 billion in 2024, representing a substantial 41.6 percent increase from 2022. The significant growth highlights the country’s improving investment landscape and strategic economic development efforts.
During a recent visit to the Mwamba gold mining site in Nyarugusu, Geita Region, TIC officials emphasized the remarkable progress in attracting investments. In Geita alone, the region has registered 18 investment projects worth $969 million, with ambitious plans to expand to 50 projects this year.
The impressive growth is attributed to recent policy reforms, particularly the 2022 investment law that eliminated critical barriers to business registration. These strategic improvements have created a more conducive environment for both local and international investors.
TIC is targeting an ambitious goal of registering 1,500 projects in 2025, encouraging Tanzanians to leverage investment opportunities across various sectors including business, agriculture, and fisheries.
The Mwamba Mine project exemplifies the potential of Tanzania’s investment climate. The gold processing facility has already created 75 direct jobs and employs over 20 casual workers daily. The project’s swift six-month completion and smooth operational setup underscore the country’s commitment to facilitating business growth.
Regional authorities also highlighted Tanzania’s critical role in gold production, with Geita accounting for 70 percent of the nation’s gold output. Regulatory compliance remains a key focus, with mining operators required to sell 20 percent of their gold production to the Bank of Tanzania.
This robust investment performance signals a promising economic trajectory for Tanzania, positioning the country as an attractive destination for strategic investments across multiple sectors.
