Tanzania Sees 6.3% Economic Growth as Mining Sector Booms

Tanzania's economy is poised to grow by 6.3% this year, driven by major investments in mining, gas, and energy projects, according to Minister for Finance Ambassador Khamis Mussa Omar.

The government has highlighted large-scale projects such as the Liquefied Natural Gas (LNG) initiative and strategic mineral developments as key drivers of growth. The minister noted that the economy has strengthened from 5% in 2024 to 5.9% last year, with further improvement expected this year.

The mining sector continues to play a central role in economic expansion, driven by growing investment in mineral extraction and value addition. Ambassador Omar cited the Nyanzaga Gold Project in Mwanza, as well as iron and aluminium projects in Liganga and Songea, among key investments set to strengthen the economy.

The government is implementing reforms to improve the business environment, including acting on recommendations of the Tax Reforms Commission to enhance competitiveness, sustain investor confidence, and support long-term economic growth. Ambassador Omar emphasized that the sector is attracting substantial investment that will provide a strong boost to the economy.