Tanzania attracted investments worth $1.2 billion from January to March 2023, up from $787.4 million in the first quarter of 2022, a year-on-year increase of 52.4%.
According to the latest report from the Tanzania Investment Center (TIC), these investments fall within the scope of projects registered with the TIC.
They consist of $887 million from domestic sources and $276 million from foreign sources. 93 projects, with a potential to create more than 16,400 jobs, should benefit from this financing.
The growth in investment was mainly due to the good results of the construction and commercial buildings sector, which attracted $333.2 million.
The top five foreign investors in March were China, the United States, Mauritius, Spain and India.