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Webinar-Doing-Business-In-Tanzania Doing Business in Tanzania Webinar 13th May 2021 Doing Business in Tanzania Agenda 1 Introduction to Webinar and Hosts (Enterprise Estonia & Stepchange Africa) 2 Welcome to Tanzania (Country Overview) 3 Sector Opportunities 4 The Real Deal: Challenges & Opportunities 5 Doing Business in Tanzania Testimonial 6 Question Time 7 Next Steps 8 Key Contacts 3 Introduction to Webinar and Hosts 4 Doing Business in Tanzania Stepchange Africa Webinar Hosts & Guest Amyn Esmail Andrew Herweg Bhanu Pratap Managing Partner Managing Partner Partner at ALCPA Ltd Finance Business Development Tax International Development Marketing & Strategy Regulatory Commodities International Partnerships Compliance 5 Welcome to Tanzania 6 Doing Business in Tanzania Country Overview: Tanzania Key Information Crossroads of East & Southern Africa Population of ~62 million inhabitants Official Language(s): Swahili & English Dodoma as the capital region holds ~2 million inhabitants Tanzania’s currency is the Tanzanian Shilling (TZS) Dar es Salaam is the economic capital Source: Stepchange Africa, UN; World Bank 7 Doing Business in Tanzania What to Know Key Indicators Economic Performance Indicators Numbers GDP US $63 billion GDP growth rate per annum (‘21) 4.1% GDP per capita US $ 1,122 Inflation 3.5% Sources: World Bank 8 Doing Business in Tanzania What to Know Important Rates Tax Elements Rates Value Added Tax (VAT) 18% Social Security rate (payable by companies) 15% USD Exchange rate *2,309 TZS per $1.00 Corporate Tax rate 30% Source: Bank of Tanzania; PwC 9 Doing Business in Tanzania What to Know: Import & Export with the EU Exports (Value Mio €) Key Takeaways 100 100 100 100 The COVID-19 pandemic caused 5% Precious metals 18% 19% 19% 8% setbacks across historically strong export markets (since 2017) 20% − Animal products (- 42 Mio €) Animal products 21% 19% 16% − Foodstuffs (-29 Mio €) 20% 29% Positive outlook is driven by Foodstuffs 33% 37% value-add agriculture products and increases from mining due to 47% high market prices of gold Plant based products 36% − Mineral products (+ 265 Mio €) 24% 24% Mineral products 4% 2017 2018 2019 2020 Source: European Commission 10 Doing Business in Tanzania What to Know: Import & Export with the EU Imports (Value Mio €) Key Takeaways 100 100 100 100 Since 2017, import market 4% Plant based products 8% 8% 9% performance has been stable or has shown growth for select products: Transport equip. 17% 20% 12% 9% 10% − Machinery (+ 78 Mio €) Base metals 5% 5% 11% − Base metals (+ 38 Mio €) 24% 24% − Plant based products (+13 Mio €) Chemicals products 30% 25% Growth markets for +5 years are: − Refined Petroleum − Machinery and Metals 47% 48% Machinery 40% 44% − Vegetable Products − Pharmaceuticals 2017 2018 2019 2020 Source: European Commission 11 Sector Opportunities 12 Doing Business in Tanzania Sector Opportunities ICT Sleeping giant for ICT & innovation 18 innovation hubs (and growing) between Dar es Salaam, Mwanza and Arusha Links to various sectors including: − Agriculture: B2B marketplaces (Fruit & Veg); Home food deliveries − Financial Services: Remittances; P2P payments; Consumer lending − Healthcare: Telemedicine (doctor consultations) − Clean tech: Mini-grids; solar home systems Home to East Africa’s most affordable internet data Sources: Briter Bridges Africa; Stepchange Africa 13 Doing Business in Tanzania Sector Opportunities Agriculture Important but under-industrialised sector − 67% of Tanzanians are engaged in the sector (mainly as subsistence farmers) − Accounts for 22% of GDP Unique opportunities: Agriculture: Live-stock and live-stock inputs Agro-processing: sugar ethanol; palm & avocado oil Fish: aqua-culture, deep sea fishing Horticulture & Floriculture Source: Stepchange Africa 14 Doing Business in Tanzania Sector Opportunities Manufacturing Small sector but growing (4% growth y-o-y) − Mainly focused on creation of simple consumer products (i.e food, tobacco, furniture) − Contributes to half of Tanzania’s annual revenue collection − Third most vital sector after agriculture and tourism Specific Opportunities: Mining: metals processing, investment in smelters, production of LPG cylinders, valves and regulators Construction: Production of materials for commercial and residential real estate (bricks, building blocks, wood building columns) Food: processing and preservation of meat, fish, oils and fats Source: Stepchange Africa 15 Doing Business in Tanzania Visualizing Sector Opportunities Mwanza Fisheries; Agriculture; Arusha Small Scale Manufacturing Agriculture; Tourism; Small Scale Manufacturing North Central & North East Tanzania Mining & Agriculture Dar es Salaam ‘Commercial Capital’ Dodoma Small scale manufacturing; ‘Political Capital’ Financial Services; ICT; Small scale manufacturing; Infrastructure (Port) Leisure & hospitality Source: Stepchange Africa 16 The Real Deal Challenges & Opportunities 17 Doing Business in Tanzania Looking above and beneath the surface Progress: Challenges: Upgrade of national airline Poor infrastructure in rural areas. (Air Tanzania) and airports; wildly Limited health measures against Covid- popular tourism sector; 19. High youth unemployment and enhancement of sea-ports large informal market Untapped Opportunities: Unforeseen obstacles: High population growth; Issues of government effectiveness and GoT’s investment in the small but rule of law (i.e. corruption). Climate growing middle class (10% of total change (lack of rain-fall impacts GDP) pop.); financial services Sources: DANIDA; Stepchange Africa 18 Doing Business in Tanzania Tackling underlying challenges Corruption Items of Admirable Monitoring Movement Power Index Value Culture Grounds Tanzania scores Slow decision Unreliable & Protecting goods, Creating a culture Hiring security poorly in making processes, expensive power services, property of ethics & values personnel to Transparency thus have systems & items of value by across and within counter grounds International’s patience reducing your company disturbances & Corruption Index attempted theft movements Sources: TI Corruption Index; Stepchange Africa 19 Doing Business in Tanzania The more you know! Unique Opportunities Good to know Import & Export – Home to three deep water ports Lack of skilled labour force, so make sure you (Dar, Tanga, Mtwara) incorporate in-house training programmes for staff Gateway to six land-lock countries (i.e. Zambia; English is the language for business but Malawi, Uganda) comprehension drops dramatically outside of urban areas. Learn Swahili. Creation of special economic zones gives incentives such as subsides for new businesses Safe & secure country, rarely security issues compared to neighbouring countries Focus on international businesses to do more joint ventures with Tanzanian businesses New leadership provides cautious optimism for the next several years Sources: Stepchange Africa; Tanzania Investment Centre; UK Government 20 Doing Business in Tanzania Catalyst for Growth What to Know! +/- 17% of Tanzania’s global exports are destined for the EU Member States According to IMF and EUROSTAT statistics, total trade between the EU and Tanzania amounted to €1.3 billion in 2016 Areas for growth and expansion beyond Dar es Salaam (i.e Arusha; Mwanza; Dodoma) 44 million hectares of arable fertile land Member of the East African Community (EAC) and Southern African Development Community (SADC) Sources: Worldbank; Stepchange Africa 21 Doing Business in Tanzania Testimonial 22 Question Time 23 Next Steps 24 Doing Business in Tanzania End-to-end execution of long-term co-creation potentials Lifecycle of doing business in Tanzania I 2 3 4 Listen Research Reach out Visit Follow each webinar to Target and scale key sectors Contact the webinar Go & see your investments to receive do-it-best insights by knowing the ins & outs stakeholders & focal points ensure long-term success 15th April 2021 29th April 2021 Stay committed and establish trustful partnerships 13th May 2021 Source: Stepchange Africa Past Webinars Upcoming Webinars 25 Key Contacts 26 Doing Business in Tanzania Network & Collaboration Potential Key Contacts Immediate client benefit Andrew Herweg European Union Business Group Bhanu Pratap Stepchange Africa Target-oriented, pragmatic Tanzania ALCPA Ltd Business growth support Private Sector Lobby Group Tax & Financial advisory and hands-on kick-start... andrew.herweg@stepchangeafri [email protected] [email protected] ca.com Eubgtz.com Alcpaltd.com stepchangeafrica.com ...with a tailored go-to- Tanzania Private Sector Seedspace Dar market strategy & use Tanzania Revenue Authority Foundation Co-working; Innovation cases... National Tax Authority Private Sector Lobby Group [email protected] [email protected] Via the form tra.go.tz Tpsftz.org ...via field-tested and Seedspace.co innovative ways of working... EU Delegation Tanzania Port Authority (Economic Growth) Tanzania Investment Centre Port Authority Data & Economic Research Investment arm of Gov. Tanzania ...towards a successful [email protected] delegation- [email protected] business transformation. Ports.go.tz [email protected] Tic.go.tz eeas.europa.eu Source: Stepchange Africa 27 Stepchange Africa is an established partnership Contact us between five unique, well-rounded and experienced thinkers, doers, entrepreneurs and long-time consultants based between the fast growing economies in Africa to Europe’s economic centres and beyond. We provide customer-centric and hands-on cross- Suite 124, Unit B., 63-66 Hatton Garden, industrial solutions to fast
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