Key View

• We at Fitch Solutions expect only limited public protests in Tanzania over the coming quarters, and therefore maintain the country’s score in our Short Term Political Risk Index at 64.4 out of 100 (higher score indicates lower risk).
• President Samia Suluhu Hassan will continue to adopt a somewhat more lenient approach to opposition

Key View

• Tanzania’s mining regulations saw a major overhaul over 2017-2019, during which the government introduced a number of new laws and amendments. This led to a period of elevated uncertainty for investors in the country.
• Since 2020, the government has been working to renegotiate terms of existing mines and projects in the country and

Key View

• We forecast real household spending growth in Tanzania to accelerate in 2022, growing by 5.3% following growth of 4.9% y-o-y in 2021.
• Total household spending (in nominal terms) will reach TZS104.7trn (USD45.3bn) in 2022, increasing from TZS96.4trn (USD41.2bn) in 2021.
• As of December 28 2021, 3.4% of people in Tanzania had received

Key View

• New pharmaceutical factories to be established in Tanzania will boost the domestic industry.
• Increasing manufacturing activity will support pharmaceutical market growth as well as exports.
• Attractive industry incentives will continue to make Tanzania a favourable destination for pharmaceutical investors in East Africa, but

Key View

• At Fitch Solutions, we believe that recent cuts to the mobile transaction levy will reduce protest risks in Tanzania.
• President Samia Suluhu Hassan will continue to improve Tanzania’s regional ties, but security threats from Mozambican instability remain elevated.
• Tanzania’s shrinking democratic space - relative to Hassan’s early

Key View

• At Fitch Solutions, we forecast that Tanzanian economic growth will slow from an estimated 4.8% in 2020 to 4.3% in 2021, as net exports drag on real GDP.
• However, this will be partially offset by rising consumer activity, bolstered by income tax and levy cuts.
• We forecast that growth will strengthen to 5.5% in 2022 as a result of

Key View

• Tanzania will become a net exporter of electricity over the near-medium term as its power generation will grow rapidly following the completion of the 2.1GW JNHPP in 2023.
• The JNHPP's completion will hold significant upside potential for economic and industrial growth over the coming years, as it will strengthen power security and

Key View

• Tanzania moves up seven places to 10th position on our Telecoms Risk/Rewards Index for Q4 2021, mainly attributed to an increase in its Industry Rewards score.
• The mobile market, and mobile data services in particular, will be the key growth vector during our 2030 forecast period.
• On the downside, mobile market overcrowding will

Key View

• We at Fitch Solutions forecast that Tanzanian real GDP growth will rise from an estimated 4.8% in 2020 to 5.3% in 2021, driven by strong consumer activity in H121.
• While net exports will have a neutral impact on growth, rising public expenditure will boost fixed investment.
• We forecast that growth will strengthen further to 5.5% in