Tanzania is a country in East Africa bordering the Indian Ocean. Neighboring countries include Burundi, Democratic Republic of the Congo, Kenya, Malawi, Mozambique, Rwanda, Uganda, and Zambia. The geography of Tanzania is varied with Lake Victoria in the west, mountains in the northeast, and coastal plains. The government system is a republic; the chief of state and head of government is the president. Tanzania has a mixed economyA country's economic system which has both private and state... in which there is a variety of private freedom, combined with centralized economic planning and government regulation. Tanzania is a member of the East African Community (EAC) and the Southern African Development Community (SADC).
The economyThe management of money, currency and trade of a nation. The... depends on agriculture, which accounts for more than one-quarter of GDP, provides 85% of exports, and employs about 80% of the work force; agriculture accounts for 7% of government expenditures. All land in Tanzania is owned by the government, which can lease land for up to 99 years. Proposed reforms to allow for land ownership, particularly foreign land ownership, remain unpopular.
The financial sector in Tanzania has expanded in recent years and foreign-owned banks account for about 48% of the banking industry’s total assetsAnything of value which is owned by an individual, company, .... Competition among foreign commercial banks has resulted in significant improvements in the efficiency and qualityAn attribute or level of excellence. The standard of a produ... of financial services, though interest rates are still relatively high, reflecting high fraud riskIn business, especially insurance, the amount of money a com.... Recent banking reforms have helped increase private-sector growth and investmentMoney or capital that is invested in a business or in an acc....
Important Details
- Country ISO3 : TZA
- Country Code : 834
- Income Group : Low income
- Lending Category : IDA
- Region : Sub-Saharan Africa
- Currency Unit: Tanzanian shilling
- WTO Member : Yes
- TradeThe buying and selling or exchange of goods and services. Th... organisations : EAC, SADC, AU, WTO
- world rank : 110
- Regional Ranking : 17th in Sub-Saharan Africa