WORLD BANK EXPRESSES CONFIDENCE IN TANZANIA’S ECONOMIC FUTURE UNDER PRESIDENT SAMIA

Dar es Salaam - The World Bank has expressed growing confidence in Tanzania’s economic future, citing strong governance reforms, infrastructure investment and a clear long-term development vision under President Samia Suluhu Hassan.

The remarks were made during discussions held at State House in Dar es Salaam between President Samia and the outgoing World Bank Country Director for Tanzania, Nathan Belete, alongside his successor, Firas Raad.

According to the World Bank officials, Tanzania has continued to strengthen its position as one of Africa’s most promising economies through improvements in economic management, infrastructure development and human capital investment.

Reflecting on his four-year tenure in Tanzania, Belete described the country as one of the most stable and strategically positioned economies on the continent.

He commended Tanzania’s achievements in sectors such as education, healthcare, social protection, energy, rural water supply and sanitation, noting that the reforms implemented by the government demonstrate the importance of strong political commitment and institutional coordination in delivering development outcomes.

Belete said the international community increasingly views Tanzania not only as a stable economy but also as a country capable of delivering large-scale development projects.

The World Bank also expressed optimism over Tanzania’s Vision 2050 agenda, which is expected to begin implementation in July this year.

According to Belete, the government’s focus on youth empowerment, job creation and private sector participation provides a strong foundation for achieving the goals of the national vision.

He highlighted major infrastructure projects including the Standard Gauge Railway (SGR), port development initiatives and regional economic corridors as transformative investments capable of accelerating economic growth and regional integration.

The World Bank further noted that Tanzania’s geographical position linking eight neighbouring countries gives it a strategic advantage as a regional trade and logistics hub in Eastern and Southern Africa.

During the discussions, the importance of private sector investment in supporting Tanzania’s future development agenda was also emphasized.

Belete acknowledged that although Tanzania has made significant progress in improving the business environment, additional reforms remain important in attracting more private capital into key sectors of the economy.

He also praised the government’s prudent debt management, fiscal discipline and commitment to strengthening governance in both public and private sector projects.

Meanwhile, Raad stressed the need for people-centered development, saying economic growth alone would not be sufficient without meaningful job creation and improved living standards.

He said continued investment in education, health, transport and energy infrastructure would be essential in preparing Tanzania’s workforce for the demands of a modern economy.

Raad also commended Tanzania’s ongoing reforms in vocational education, describing skills development as critical in equipping young people with opportunities in emerging sectors.

The World Bank believes Tanzania is increasingly positioning itself as a regional engine for growth through continued investments in transport infrastructure, ports, energy and economic corridors.

Development analysts say the growing international confidence reflects the impact of ongoing reforms and the government’s long-term commitment to economic transformation.