Dar es Salaam. Tanzania’s drive towards a more industrialised base and middle-income status will be analysed in a report by the global research and consultancy firm Oxford Business Group (OBG), the company said yesterday.
The Report: Tanzania 2017 will consider the key role earmarked for the private sector in helping the country to meet its longer-term growth targets.
OBG’s publication will explore the issues that have impacted Tanzania’s ease of doing business while examining the early encouraging results of the dialogue between the authorities and business community.
In addition, the report will track the rollout of Tanzania’s new monetary policy measures along with efforts by the government to diversify revenues in the light of a slowdown in aid and grants.
EY has signed a memorandum of understanding (MoU) with OBG for the group’s first report on the country. Under the MoU, the professional services firm will work with OBG to compile and produce the Tax chapter of The Report: Tanzania 2017.
EY country managing partner Joseph Sheffu said he looked forward to exploring the developments taking place across Tanzania’s tax framework with OBG’s team and relaying its changing structure to the global business community.
“The government has made good progress in its efforts to expand Tanzania’s tax base and bring workers into the formal sector as it moves to address the budget shortfall. However, revenue collections are still likely to fall short of the ambitious target set,” he said. “Knowing that further changes are expected, local and foreign investors eyeing the country’s many opportunities will without doubt want to ensure they have the latest information available ahead of their decision-making process.”
Welcoming EY on board, OBG’s country director in Tanzania, Ms Ivana Carapic, agreed that business leaders looking to play a part in Tanzania’s growth story had much to consider.
“Tanzania faces several challenges, largely prompted by the high growth trajectory,” she said. “With increased private sector participation essential to Tanzania’s development, I’m delighted that our team, and, ultimately, our readers, will benefit from EY’s expertise.”
The Report: Tanzania 2017 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will also contain contributions from leading representatives, including President John Magufuli, ministers Philip Mpango (Finance and Planning), Makame Mbarawa (Works, Transport and Communications) and Charles Tizeba (Agriculture, Livestock and Fisheries) as well the Bank of Tanzania governor Benno Ndulu.
The report will be available in print and online.
OBG is a global research and consultancy company with a presence in over 35 countries, from Africa, Asia and the Middle East to the Americas.