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China-Africa Trade Information Service
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China-Africa Trade Information Service
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Under the direction of President John Pombe Joseph Magufuli, Tanzania plans to become a middle-income country by 2025.
The Development Vision 2025 focuses on creating peace and stability, freedom from corruption, investment in the education of the Tanzanian people, and a competitive and sustainable economy. The key to Magufuli's Vision is industrialisation.
The construction of Tanzania's US$14.2 billion Standard Gauge Railway, stretching 2,561 kilometres connecting Dar es Salaam port to its land-locked neighbours, is an infrastructure project that will enhance trade opportunities for Tanzania.
"Projects such as the SGR could help lower transport costs and improve economic activity from a reduction of production and operational costs, lower cost of consumer goods and increased transit of goods passing through Tanzania to landlocked countries," says Faraj Abri, director of ASAS. This will increase relationships with East African countries and strengthen all economies of the region.
The Tanzania Port Authority is working toward this same agenda with the construction of the Dar es Salaam Maritime Gateway Project (DMGP), which "will support the financing of crucial investments in the Port with the aim of improving its effectiveness and efficiency for the benefit of the public and private stakeholders," says Eng.
Deusdedit C.V Kakoko, Director General of TPA. In conjunction with the DMGP, TICTS is working to expand the additional capacity that will be needed at Tanzania's ports. Chief Executive Officer, Jared Zerbe, states;"The assistance and cooperation received from the government of Tanzania, TPA and our customers using the port have been the source of growth."
In addition to opening new doors for local and international trade, Tanzania has signed a groundbreaking contract with Egypt to build a new 2,115 MW hydroelectric power station. In an effort to decrease reliance on fossil fuels, the Rufiji Hydro Plant will be the largest in East Africa and is invaluable to Tanzania's transformation.
"The national target for the energy sector is to make sure that we reach 5,000 MW by 2020 and at least 10,000 by 2025. Construction on the 2,115 MW Rufiji Hydro Power Plant Project has just begun and this will greatly help us meet our target," says, Hon. Medard Kalemani, Tanzania's Minister of Energy.
Accessible and reliable energy sources will aid the Finance and ICT sectors in their dedication to the Vision 2025 to create financial inclusion and reliable communication services for the Tanzanian people.
Abdulmajid Mussa Nsekela, Managing Director of CRDB Bank states, "In line with the financial inclusion framework, we have developed a digitalisation strategy roadmap, which is aimed at ensuring all Tanzanians and residents have proximity to affordable superior financial services." Other banking entities such as Stanbic approach inclusivity in a way that allows ease of use and convenience.
Financial inclusion is made even more possible through mobile money transactions, which rely upon a stable telecom sector in order to function effectively. TCRA works to ensure access to reliable, affordable and secure communication services for Tanzanians and foreign investors alike. "Ninety-four percent of the population is now covered by mobile networks," says Eng. Kilaba.
