The East Africa region is one of the most competitive territories that are when it comes to the business world. With the establishment of industries, integration of investors and the uprising of entrepreneurial pillars with a futuristic mindset, it is even better in ensuring the business industry remains competitive opening minds of the business tycoons.
One factor, however, that stands out is the ability of a state’s economy to be resilient in times of adverse effect of negativity, the ability to handle the bitter side of the business world in shake ups.
In its latest Africa Attractiveness Index (AAI) of May 2017, multinational professional services firm EY ranked Tanzania N1 for economic resilience.
Introduced in 2016, the AAI measures the relative investment attractiveness of 46 African economies on the basis of a balanced set of shorter and longer-term focused metrics.
Under the overall AII ranking of the top 10 African economies, Tanzania ranks 5th, after Morocco, Kenya, South Africa, and Ghana, but before Uganda, Ivory Coast, Mauritius, Senegal, and Botswana.
In 2016, Tanzania ranked 12th, improving 7 positions in 2017.
For Market Size, Governance And Human Rank Development, Business Enablement, Investment In Infrastructure And Logistics, and Economic Diversification, Tanzania ranks 5th, 16th, 18th, 18th, and 23rd respectively.
The report stresses that the strong economic growth over the last decade, driven by increased investment in infrastructure and services, and the recent gas discoveries, have put Tanzania even more firmly on the investor map.
EY also reminds that East Africa remains the most buoyant region of Africa, with the four key economies (Kenya, Ethiopia, Tanzania and Uganda) all poised for growth of 6% and above for the decade.