Latest news with #KitilaMkumbo
Zawya
21-07-2025
- Business
- Zawya
Tanzania's Vision 2050 targets $1trln GDP growth
President Samia Suluhu Hassan has launched Tanzania's development blueprint, Vision 2050, targeting to achieve upper middle-income status by harnessing land, natural resources, demographic dividend and technology. Manufacturing, digital economy, climate adaptation and youth empowerment sit at the core of the plan, and the East African nation expects to become a regional industrial hub, with a strong and competitive economy, in the next 25 years. Implementation is set to start on July 1, 2026. Tanzania aims to use the plan to grow GDP from $85.98 billion in 2025 to $1 trillion by 2050. President Samia while launching the blueprint in the capital Dodoma, said the plan is expected to equip about 70 percent of Tanzanian citizens with digital skills with over 80 percent of government services delivered online. Other key economic sectors for development envisaged for implementation are political cohesion that would promote peace, unity, and strict leadership codes to drive an inclusive economy.'We are laying the foundation stone for the future of our people since Tanzania is rich in land and natural resources. Let us go and implement this vision in action, not just in words,' President Samia said. She then directed the Law Reform Commission, in collaboration with the Attorney-General's Office, to begin drafting legal reform proposals that will facilitate effective implementation of the Vision 2050. Planning and Investment minister, Prof Kitila Mkumbo, said the GDP per capita is expected to rise from the current $1,200 to $7,000 in the next 25 years. Officials target to raise the life expectancy for Tanzanians from the current 68 years to 75 years. Drafting of Vision 2050 began in April 2023, with a review this year. Vision 2025 focused mostly on infrastructure development. Tanzania's population is expected to double from 61 million to about 140 million by 2050, with over half of the population living in urban areas. At the launch, private sector representative industrialist Rostam Aziz criticised the government for seeking foreign firms to execute its strategic, big-ticket projects. Mr Aziz noted that large amounts of money had been paid out to foreign firms, mostly Chinese, to implement projects and pushed for local contractors to get some of those jobs to help empower the local population.'Tanzania excels in drafting plans, but we must fix our implementation. Let's support Tanzanian businesses, especially in access to capital,' he said. He further proposed the establishment of a $100 million annual Talent Development Fund to sponsor 1,000 Tanzanian youth in critical fields, including Artificial Intelligence (AI), data science and engineering. © Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arabian Post
16-06-2025
- Business
- Arabian Post
Tanzania Accelerates Flagship Infrastructure and Economic Diplomacy Push
Dodoma's state leadership confirmed significant advancements in the Third National Five-Year Development Plan, registering strides in infrastructure, agriculture, energy, justice reform and foreign investment initiatives. In a parliamentary session, Planning and Investment Minister Professor Kitila Mkumbo detailed over 193 development schemes—among them 17 flagship mega-projects—now underway. Irrigation farming has expanded, with irrigated areas growing from approximately 695,000 ha in 2019/20 to 727,280 ha by 2022/23, driven by intensified use of quality seedlings and fertilisers. Concurrently, the National Irrigation Commission reported plans for over 800 new irrigation schemes in the 2023/24 financial year, reinforcing targets to reach 1.2 million hectares under cultivation by 2025. Transport infrastructure remains a cornerstone of the FYDP III agenda with considerable progress on the Standard Gauge Railway. The Dar es Salaam–Makutupora segment stands nearly complete at 99%, the Morogoro–Makutupora stretch at 96.6%, while Tabora–Makutupora, Isaka–Mwanza, and Tabora–Isaka present completion rates of 14%, 56% and 5%, respectively. Construction is also visible at the Mwanza–Isaka link and the Kigongo–Busisi bridge near Mwanza, which is now 88% built. ADVERTISEMENT Energy sector expansion includes the Julius Nyerere Hydropower Project, now at 97% completion, and operational starts at Kinyerezi I and Rusumo, boosting national generation capacity from 1,872 MW to 2,138 MW by March 2024. Water, sanitation and rural access have also improved markedly. The Rural Water Supply and Sanitation Agency reported household water connections rising from 64.8% in 2019 to 74.5% by June 2024, benefitting over 9,000 villages and connecting over 2.8 million rural dwellers. In the judicial sphere, FYDP III envisages expanded legal infrastructure, aiming to increase functional High Court regions from 69 in 2019 to nationwide coverage, enhance legal aid representation, and integrate ICT systems in courts. Targeted construction includes 139 district courts, 791 primary courts, ten regional Attorney-General offices, and seven national prosecution offices by 2025/26. Tanzania has reinforced its anti-corruption drive through the Prevention and Combating of Corruption Bureau, which traced and recovered over TZS 215 bn by mid-2020 and has seen prosecution rates of 82% in corruption filings—up from 10% during FYDP II. On the diplomacy and foreign investment front, the Plan sets ambitious targets: expanding bilateral, regional and international engagements from 50 meetings in 2019/20 to 250 by 2025; increasing Tanzanian participation in peacekeeping missions from 2,303 to 3,500 personnel; launching ten new embassies and six consulates; and signing 80 memoranda of understanding—up from 15. It further seeks to raise foreign investment from 86 projects to 430, and boost tourist arrivals from 1.6 million to 8 million by 2025. Prime Minister Kassim Majaliwa underscored the importance of economic diplomacy in leveraging FYDP III initiatives, working alongside Foreign Affairs Minister Liberata Mulamula to mobilise ambassadors toward investment promotion and tourism outreach. Private-sector partnerships are integral to funding the development agenda. The government projects an FYDP III budget of TZS 114.8 trn, to be sourced through public funds and private contributions, supported by institutional reforms such as PPP Act amendments and recapitalisation of investment banks. Complementing these financing reforms, investment registration surged 15.2% in 2023, with the total value of registered projects jumping to US $8.66 bn, signalling heightened investor confidence aligned with Plan priorities. Dar es Salaam's urban transit ecosystem is also evolving. BRT Phase II has concluded construction and is scheduled to begin operations in February 2025, expanding the system's reach beyond the initial 21 km of dedicated bus lanes. Across sectors, the government projects FYDP III initiatives will generate eight million new jobs by mid-2026, emphasising the centrality of private enterprise—especially MSMEs—in achieving sustainable growth. Investment in infrastructure, agriculture, energy and legal systems demonstrates both scale and direction in Tanzania's trajectory under FYDP III. The strategic aggregation of diplomacy and private finance aims to translate capital-intensive flagship projects into improved human development outcomes and economic diversification.
Reuters
12-06-2025
- Business
- Reuters
Tanzania sees economic growth rising to 6% this year
DAR ES SALAAM, June 12 (Reuters) - Tanzania's economic growth is forecast to rise to 6% this year from 5.5% last year, its planning and investment minister said on Thursday. Minister Kitila Mkumbo added that the budget deficit was seen at 3.0% of gross domestic product (GDP) next fiscal year, from 3.4% of GDP this year. The East African country is set to hold an election in October. President Samia Suluhu Hassan is seeking to remain in power, having taken office in 2021 after the death of her predecessor, John Magufuli.
