How Telcos have helped Tanzania’s economy become one of the most dynamic in the region

Recent economic news has shown that there are reasons to be optimistic about the country’s economy. According to the latest estimates by the African Development Bank (AfDB), the Tanzanian economy is forecasted to grow at 5.2 per cent this year.

These figures mirror earlier research by The Legatum Institute, a UK-based think tank, which highlighted that the country’s economy has secured its position as one of the fastest growing in East Africa.

The research points to a number of factors which have helped to contribute to the country’s overall growth rate. This includes measures ushered in by the government to help drive cross-sector investment and put the economy on the pathway to industrialisation.

Recent news coverage has reported on a number of these initiatives. This includes the construction of new roads and the upgrade of the Dar es Salaam Port to facilitate the flow of more goods in and out of the country.

The think tank's research also notes that economic progress has also been boosted by overall improvements to connectivity, namely through access to mobile phones, mobile internet and bank accounts.

 Access to these services has become key in generating financial opportunities and helping the country’s economy become one of the most dynamic in the region.

Improvements to the country’s connectivity has been made possible by significant and coordinated efforts from government and the private sector.

In recent years, private sector support has been led by ambitious investment from the telecom sector. For example, the sector has so far invested over Sh6 trillion in the country, in areas including network improvements as well the roll out of 4G.

The investment has had clear benefits for communities across the country. For example, Tigo Tanzania – one the country’s best-known telecommunication operators – has played an active role in boosting financial inclusion through their mobile money service, Tigo Pesa. This quick and easy to use service has helped countless people who were previously unbanked, providing a reliable way of accessing financial services.

Elsewhere, Tigo has also helped numerous businesses gain access to fast and reliable internet through its Tigo Business solutions. Tigo Business has helped companies both big and small gain access to fast internet connectivity, data storage platforms as well as tailored telephone services to suit their needs.

Tigo’s services are just one of the many examples of the way in which the country’s telecoms sector is working to drive innovation further and increase levels of connectivity.

It is now an important time to safeguard the prosperity of the telecom sector for years to come. Encouraging further investment and protecting the market’s regulatory environment are two clear ways in which we can ensure that the sector continues to progress.