Where investors put their money in 2023

Tanzania's manufacturing, transportation, and commercial building sectors are increasingly appealing to investors due to their potential for profit, personnel availability, policy framework, growing demand, and perceived sector stability.

The three sectors, according to the statistics of registered projects by the Tanzania Investment Centre (TIC), were top investors' choices in the country in 2023, as the center reports over $5.67 billion (estimated Sh14.38 trillion) in total capital injected.

Data showed that the three sectors contributed more than two-thirds of the total capital injected from January to December 2023, at nearly $3.9 billion.

A total of 523 projects were registered last year, of which 363 were from the three sectors alone.

Further analysis conducted by The Citizen, utilizing TIC's monthly and quarterly updates, indicates that the investors are also directing funds into various other sectors.

Notably among these are agriculture, with registered projects totaling $782.84 million; the services sector ($310.63 million), economic infrastructure ($249.39 million), tourism ($163.48 million), energy ($58.22 million), mining and petroleum ($47.52 million), telecommunications ($28.52 million), and human resources ($7.06 million).

Read the article on The Citizen as experts analyze why these sectors became attractive in 2023.