Thursday, June 13, 2024
HomeBusinessTanzania: African Development Bank accelerates development pace with ‘High 5’ priorities

Tanzania: African Development Bank accelerates development pace with ‘High 5’ priorities

John Magufuli
Tanzania’s President John Magufuli under fire on pregnant schoolgirls ban

Abidjan, Côote d’Ivoire, 8 December 2017 – The African Development Bank’s 2017 Country Results Brief released recently is dedicated Tanzania.

The report analyzes Tanzania’s economic situation as a country at the crossroads that has maintained an average growth rate of 6% over the last decade — supported by the industrial sector and agricultural exports — with human development gains. The brief reviews the Bank’s performance in Tanzania against the goals it set itself, including how it intends to help the country achieve inclusive and sustainable development, with the overarching objective of raising the country to middle-income status by 2025.

“Tanzania is an excellent example of how the Bank can have an impact on development through its High 5s,” said AfDB Director General for East Africa Gabriel Negatu. “Thanks to our investments, the country is well on track to becoming a middle-income country by 2025.”

Among other investments, the Bank is doing a great deal to modernise roads, which are vital for the country’s development and the well-being of its population: nearly 12,660 km of roads have been built over the past ten years, facilitating the mobility of people and trade. The AfDB now plans to put more emphasis on improving urban transport systems and regional roads connecting Tanzania to neighboring countries.

  • Another priority for the Bank in Tanzania is to create a dynamic private sector that can provide productive jobs—a crucial element for the country’s future and its people, as some 800,000 young people enter the labor market every year. .
  • This Country Results Brief describes recent economic and social trends in Tanzania, particularly those related to the Bank’s five key development priorities, the High 5s: Light up and Power Africa, Feed Africa, Industrialise Africa, Integrate Africa, and Improve the quality of life of the people of Africa. It also reviews how the Bank manages to optimise its investments by improving people’s quality of life:
  • Light up and power Africa —70% of Tanzanians still do not have access to electricity and the demand for energy continues to grow. With its New Deal on Energy for Africa, the AfDB is working to unify efforts to provide universal access to energy. The Bank has built 630 km of transmission and distribution lines.
  • Feed Africa — 40% of Tanzanians live in food insecurity, while the country has large pockets of arable land. Optimal use of these lands in agriculture would significantly improve the living conditions of the population. The Bank’s action in this domain has dramatically improved the lives of four million Tanzanians.
  • Industrialise Africa —The Tanzanian economy suffers from a lack of industrialisation. Only a quarter of the population has access to financing to engage in entrepreneurship and small-scale development projects. The Bank supports financial institutions that have granted 155,000 microloans and project investments to benefit 455,000 people.
  • Integrate Africa — With its Regional Integration Policy and Strategy, the Bank aims to facilitate the flow of goods and services, as well as the mobility of people and investments. It has built 12,660 km of roads in the country.

Improving the quality of life for the people of Africa — Tanzania’s economic growth has not been fast enough, nor inclusive enough to create jobs and improve people’s quality of life. The Bank is working to strengthen the technical skills of thousands of Tanzanians to enable the country’s economy to realize its full potential in sectors with high recruitment potential. The Bank has already enabled 3,860 people to benefit from vocational training and another million to gain access to education.
This report reviews Tanzania’s progress on the Bank’s High 5s, based on a set of indicators from the Bank’s 2016-2025 Results Measurement Framework. It also assesses the effectiveness of the Bank in managing its operations in the country.

“Our footprint in Tanzania is strong, as we have hardwired our Business Delivery Model into project design for sustainable outcomes”, said Simon Mizrahi, Director for Delivery, Performance Management and Results.

In order to meet the specific needs of Tanzania, the Bank is getting closer to the ground and optimising the use of its resources. All these changes will help achieve the desired structural transformation in Tanzania and on the continent, in line with the Bank’s ten-year strategy. The High 5 priorities are an integral part of that effort and will remain at the centre of the Bank’s ambitious plans to support Tanzania’s transformation within a decade.

Today, the Bank has a portfolio of 21 operations in Tanzania, valued at US$1.8 billion.

- Advertisment -

Most Popular

Recent Comments

James Hastings Chidule on Malawi’ fistula recovery at 86%
WELLINGTON WITMAN MOSELIJAH LUNDUKA on The history of Ngoni Maseko in Malawi
Lisa Frank on Home
azw3 on Home
Define Regtech on Home
Tobias Kunkumbira on Malawi to roll out Typhoid vaccine
arena plus nba standings 2022 to 2023 ph on Home
David on Home
마산출장 on Home
Cristina Thomas on Home
Alicia Alvarado on Home
The History of online Casinos – Agora Poker – hao029 on The History of online Casinos
Five factors that will determine #NigeriaDecides2023 - NEWSCABAL on Leadership Is Difficult Because Governance Is Very Stubborn, By Owei Lakemfa
Asal Usul Texas Holdem Poker – Agora Poker – hao029 on The Origins of Texas Holdem Poker
Malawi has asked Mike Tyson to be its cannabis ambassador - Techio on Malawi lawmaker Chomanika against Mike Tyson’s appointment as Cannabis Brand Ambassador over sex offence
Finley Mbella on Brand Chakwera leaks Part 1
Maria Eduarda Bernardo on The 2021 Guide to Trading Forex Online
Atsogo Kemso, Political Foot Soldier on Why MCP and UTM Alliance Will Fail
Em. Prof. Willem Van Cotthem - Ghent University, Belgium on Malawi army, National bank cover Chilumba barrack with trees
Christopher Murdock on Why dating older woman is dangerous?
Samantha The Hammer on Why dating older woman is dangerous?