Tanzania: Opportunities for German companies in an emerging market - insight from a financial expert.

Tanzania: Opportunities for German companies in an emerging market - insight from a financial expert.

The German delegation led by Federal President Steinmeier is visiting Tanzania from October 30th to November 1st. Since 2021, the business climate in Tanzania has improved significantly as President Samia Suluhu Hassan pursues a more business-friendly course. Foreign companies are increasingly investing again in Tanzania, which is one of the largest markets in East Africa. German exports alone reached a level of over 200 million euros in 2022, making Tanzania one of the ten largest sales markets in sub-Saharan Africa. A good economy is also forecast for the future, with opportunities for German companies in sectors such as agriculture, the food industry, mining, tourism and construction. In particular, the expansion of infrastructure in the areas of energy and water as well as the disposal of wastewater and waste are becoming increasingly important due to the increasing population.

According to Carsten Ehlers from Germany Trade and Invest, Tanzania also offers business opportunities for suppliers of technical equipment, machines or chemicals. In connection with the country's economic development, interesting perspectives open up here.

The improved economic conditions in Tanzania have a direct impact on the market and financial sector. German companies can benefit from increasing exports to Tanzania and open up new sales opportunities. The good economy and the diverse business opportunities offer opportunities for investments in Tanzania.

According to a report by Germany Trade and Invest, Tanzania is an attractive market for German companies, particularly in the areas of building materials production, tourist lodges and farms. The need for infrastructure development in Tanzania also opens up opportunities for companies in the energy and water sectors.

The increasing population and the associated environmental problems require increased measures to dispose of wastewater and waste. Companies that offer solutions in these areas can benefit from the increasing demand in Tanzania.

Overall, it can be said that the improved economic conditions in Tanzania are having a positive impact on the market and the financial sector. German companies have the opportunity to benefit from new business opportunities in Tanzania and expand their presence in the East African market.

Source: According to a report by Germany Trade and Invest (https://www.gtai.de/de/trade/welt/afrika/tansania-118926)