Tanzania RISK & COMPLIANCE REPORT DATE: September 2017
Tanzania RISK & COMPLIANCE REPORT DATE: September 2017 KNOWYOURCOUNTRY.COM Executive Summary - Tanzania Sanctions: None FAFT list of AML No Deficient Countries US Dept of State Money Laundering Assessment Higher Risk Areas: Compliance with FATF 40 + 9 Recommendations Not on EU White list equivalent jurisdictions Corruption Index (Transparency International & W.G.I.)) Failed States Index (Political Issues)(Average Score) Weakness in Government Legislation to combat Money Laundering Medium Risk Areas: World Governance Indicators (Average Score) Major Investment Areas: Agriculture - products: coffee, sisal, tea, cotton, pyrethrum (insecticide made from chrysanthemums), cashew nuts, tobacco, cloves, corn, wheat, cassava (tapioca), bananas, fruits, vegetables; cattle, sheep, goats Industries: agricultural processing (sugar, beer, cigarettes, sisal twine); mining (diamonds, gold, and iron), salt, soda ash; cement, oil refining, shoes, apparel, wood products, fertilizer Exports - commodities: gold, coffee, cashew nuts, manufactures, cotton Exports - partners: India 14.1%, China 11%, Japan 6.1%, Germany 5%, UAE 4.9% (2012) Imports - commodities: consumer goods, machinery and transportation equipment, industrial raw materials, crude oil Imports - partners: China 21.1%, India 16.1%, Kenya 6.6%, South Africa 5.6%, UAE 4.8% (2012) Investment Restrictions: There are no laws or regulations that limit or prohibit foreign investment, participation, or control, and firms generally do not restrict foreign participation. There are no efforts to restrict foreign participation in industry standards-setting consortia or organizations. Associations representing the tourism, telecommunications, and mining industries are composed of, and often led by, foreigners. Land ownership remains restrictive in Tanzania. Under the Land Act of 1999, all land in Tanzania belongs to the state. Procedures for obtaining a lease or certificate of occupancy can be complex and lengthy, both for citizens and foreign investors.
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