What You Need to Know
The Tanzanian government is leveraging the Economic Freedom Audit Report to implement policy reforms aimed at enhancing economic freedom and competitiveness by 2050. Deputy Minister Dennis Londo emphasized the importance of economic freedom for national development, while stakeholders are encouraged to collaborate on these reforms to improve investment and citizen welfare.
Africa-Press – Tanzania. THE Tanzanian government has stated that the recommendations contained in the Economic Freedom Audit Report will drive policy reforms, strengthen economic freedom, and significantly contribute to Tanzania’s journey towards a strong and competitive economy by 2050.
The statement was made today, March 27, 2025, in Dar es Salaam by the Deputy Minister for Industry and Trade, Dennis Londo, during the climax of the Economic Freedom Week and the launch of the Economic Freedom Audit Report.
Londo, who was represented by the Vice Chancellor of the College of Business Education (CBE), Professor Emmanuel Munishi, said that economic freedom is one of the key pillars of national development, noting that countries with higher levels of economic freedom tend to experience faster economic growth, greater investment, and improved citizen welfare.
He thanked Liberty Sparks and the task force involved in preparing the report and urged all stakeholders to continue cooperating with the Government in implementing policy and economic system reforms to ensure Tanzania continues building a competitive economy that creates jobs and improves people’s welfare.
On his part, the Director of Liberty Spark, Evance Exaud, said the public should expect many positive outcomes, as the report has examined a wide range of issues and involved engagement with five ministries. He added that they also plan to meet with Members of Parliament to help ensure the recommendations are incorporated into economic policy formulation.
He said the research findings show that Tanzania has significant potential to accelerate economic growth through policy reforms that encourage investment and innovation.
According to the him, during the research process stakeholders submitted important recommendations relating to policy stability, tax competitiveness, digital reforms, international trade, contract enforcement, innovation and technology, workforce skills development, local government reforms, as well as protection of property rights.
He said the recommendations aim to position Tanzania as a hub for trade, investment, and innovation in the East and Central African region.
“Tanzania is at the epicenter of Eastern and Southern Africa’s economy. It is a high time that we simplify business regulations to enable growth of private sector and taping cross border trade potentiality,” he said
According to the 2023 global Economic Freedom assessment, Tanzania scored 6.34 out of 10, ranking 8th among 24 countries in Eastern and Southern Africa.
The statistics show that despite the achievements made in maintaining average economic growth of 5 to 6 percent per year, there is still significant room to further improve the business and investment environment in order to fully unlock the potential of the private sector.
Tanzania has been focusing on economic reforms to enhance its growth potential, particularly in the context of East and Central Africa. The Economic Freedom Audit Report is a significant step in this direction, as it outlines key recommendations for improving the business environment and attracting investment. Historically, Tanzania has maintained steady economic growth, but challenges remain in fully realizing the potential of its private sector and ensuring sustainable development through effective policy implementation.
