Tanzania pushes for $15 billion in annual FDI to create jobs for its youth
Prime Minister Mwigulu Nchemba said Tanzania aims to attract $15 billion in yearly foreign direct investment to boost industrialisation and employ its rapidly growing young population.
At an investment summit in London, Prime Minister Mwigulu Nchemba announced Tanzania’s target of $15 billion in annual foreign direct investment, roughly three times the previous year’s level. He said the government is channeling funds into railways, ports and new power generation to build an industrial base and lower the cost of doing business. Nchemba stressed that the private sector must create jobs for the country’s many graduates, noting that the UN estimates 42 % of the population is under 15.
Recent infrastructure milestones include a 2,115 MW hydropower plant that doubled electricity capacity and could support exports. Tanzania’s offshore gas fields and deposits of copper, lithium, cobalt, gold and diamonds are being positioned for local processing rather than raw export. The strategy mirrors regional trends, such as Kenya’s focus on industrial-led job creation.
Why it matters
Tanzania’s investment drive could shape employment prospects for millions of young Africans and influence regional economic development.
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