Investments –Tanzania is now the best investment hub in east Africa according to the latest investment preferences.
A new survey by KPMG has established that top business executives had preferred putting their resources in Tanzania than any other African nation.
KPMG has reported that 15 percent of wealthy executives would prefer moving to Tanzania as only 14 percent preferred Kenya despite the fact that Kenya has been the largest economy in East Africa.
In the larger Africa, South Africa and Nigeria topped the record with 50 and 30 percent respectively.
Ghana, which has suffered economic turmoil in the past year, tied with Kenya in the survey at position four.
In the survey, it was found out that fintech, oil and gas, consumer products, and mining will drive most investments in the next two years.
The study asked business executives – local and foreign – with experience in making deals to list countries they are considering an acquisition or investment in Sub-Saharan Africa over the next two years.
“In H2-2022, 150 C-suite-level and other senior executives were surveyed based on their experience in dealmaking in Sub-Saharan Africa (SSA) over the last four years,” KPMG stated in their report.
“The respondent group was divided equally between domestic investors (i.e., based in SSA) and international investors (i.e., based outside of SSA),” the report noted.
Among the domestic investors, 71 per cent were strategic investors and 29 per cent were financial investors. Among international investors, 69 per cent were strategic and 31per cent were financial investors.