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Gold to boost FDIs to Tanzania, survey establishes

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by MaxShimba, Aug 17, 2011.

  1. MaxShimba

    MaxShimba JF-Expert Member

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    Gold to boost FDIs to Tanzania, survey establishes


    By Polycarp Machira
    The Citizen Reporter
    Dar es Salaam. Tanzania's gold reserves will continue to be a magnet for investors in the medium term, placing the country among those with high prospects for attracting more foreign direct investment (FDIs) over the next five years, a new report reveals.According to Ernst & Young 2011 African Attractiveness Survey released this month, higher FDI prospects for the country emanate from the rising price of gold, which has increased by 75 per cent over the last three years.

    [​IMG]Except for Burundi, all members of the East African Community (EAC) are in the survey's list of 17 African economies likely to offer appealing FDI opportunities in the next five years. Apart from Kenya, Uganda and Rwanda, Ernst & Young also earmarks other promising FDI destinations in Africa Zambia, Tunisia, South Africa, Senegal, and Nigeria. The list also includes Mozambique, Morocco, Mauritius, Ghana, Ethiopia, Egypt, DRCongo and Angola.

    "Driven by the rising price of gold that has increased 75 per cent over the last three years, Tanzania's gold reserves will continue to attract investor interest over the medium term," the survey notes. It also says that although the risks in investing in Africa may appear high, the risks involved are manageable, and the rewards appealing.
    The report notes that Tanzania's relatively well-educated labour force, coupled with political stability and the government's sound macroeconomic management of the economy, will add to the country's attractiveness. However, it cautions that the relatively small domestic market, poor infrastructure network and high levels of bureaucracy are a barrier to further investment in the non-mineral sector of the economy.


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  2. babalao

    babalao Forum Spammer

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    Does this benefit the common man?
     
  3. Deshbhakt

    Deshbhakt Senior Member

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    Aug 18, 2011
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    “Driven by the rising price of gold that has increased 75 per cent over the last three years, Tanzania’s gold reserves will continue to attract investor interest over the medium term,” the survey notes. It also says that although the risks in investing in Africa may appear high, the risks involved are manageable, and the rewards appealing.

    - Medium Term:
    That leaves with us with empty holes to fill thereafter.(?)

    Rewards appealing: With the mining companies contributions 5% on value of the eventual gold derived, does not mean that we benefit more? Anyways, the companies added benefit is the tax exemptions as well. So perhaps this 'reward appealing' term should be applicable to companies and not the country respectively.
     
  4. Salanga

    Salanga JF-Expert Member

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    Inauma sana kuona tunapigia makofi unyonyaji wetu.
     
  5. babalao

    babalao Forum Spammer

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    Aug 23, 2011
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    Lybya Government had 154 tons of Gold in its foreign reserves it does not mine gold what is in Tanzanias foreign gold reserves?
     
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