#economic growth

For decades, poor road quality in Tanzania hindered access to markets for farmers, healthcare for patients, and increased transport costs for businesses. However, recent improvements in road infrastructure are transforming this situation, facilitating better connectivity and economic activity across the country, according to Daily News.

According to the PwC Africa Family Business Survey 2025, family businesses in Africa are experiencing strong growth and resilience despite facing economic uncertainty, regulatory changes, and geopolitical pressures. The survey included 79 family businesses from East, West, and Southern Africa, revealing that 66 percent of the respondents achieved single-digit growth.

According to Captain Ladi Olubowale, the former President of the Shipowners Association, Nigerian seafarers are essential national assets that play a critical role in the country's economic growth. He emphasizes their importance in enhancing the maritime sector and contributing to overall development.

According to Punch, an adviser to Lagos Governor Sanwo-Olu has emphasized that Nigeria's clean cooking initiative has the potential to enhance economic growth, generate employment opportunities, and improve public health. The initiative aims to promote cleaner cooking methods across the country.

The Federal Government has launched a 505kW solar mini-grid in Epe, Lagos, with plans for an additional 5MW expansion aimed at enhancing electricity access and supporting economic growth.

During a high-level forum on tree-powered bioeconomies in Nairobi, African leaders and experts advocated for the development of tree-based industries as a new avenue for economic growth. The event was organized by the Landscape Alliance, previously known as CIFOR-ICRAF.

The World Bank has indicated that the economic recovery in Sub-Saharan Africa is losing momentum, projecting a growth rate of 4.1 percent for 2026, the same as in 2025. This figure represents a downward revision of 0.3 percentage points from a previous forecast of 4.4 percent, as noted in the latest Africa Economic Update released in April.

According to TechTrends KE, South African firms have announced over Sh400 billion in acquisitions, raising questions about their investment focus on Kenya. This trend is attributed to Kenya's economic growth, as East Africa is reportedly outperforming many larger African economies. The recent transactions indicate a strategic interest in the region by South African companies.

The Minister for Livestock and Fisheries, Dr Bashiru Kakurwa, emphasized the need for unity and cooperation among fish farmers as the Tanzanian government aims to enhance the aquaculture sector to boost economic growth and create jobs. This statement was made during a meeting with stakeholders in the fish farming industry.

The rehabilitation and expansion of Kigoma Airport in western Tanzania is 60 percent complete, with the government optimistic about its potential to enhance economic growth, trade, and investment in the region. The Ministry of Works, via the Tanzania National Roads Agency (TANROADS), reported that the project is progressing steadily and is set to open in July.

The Akwa Ibom State Commissioner of Police, Baba Mohammed Azare, has highlighted that the Nigerian maritime sector, while a significant contributor to economic growth, is confronted with complex security threats. This statement was made during a discussion on the challenges facing the sector in Uyo, according to ThisDay Live.

The Business Registration and Licensing Agency (BRELA) has highlighted its significant achievements for the 2025/2026 period, emphasizing its role in promoting national economic growth through sustainable strategies aimed at formalizing economic activities. BRELA's CEO, Godfrey Nyaisa, made these remarks during a staff workshop in Morogoro, where he detailed the agency's successes in ensuring that all Tanzanians have access to registration and licensing services.

Tanzania has approved the allocation of 10% of mining sector revenue to finance advanced mineral exploration activities. This funding aims to support high-resolution surveys, identify new mineral-rich areas, attract investment, and enhance the sector's contribution to economic growth.

According to the Manufacturers Association of Nigeria (MAN), commercial bank credit to Nigeria's manufacturing sector fell by 22.5% in 2025. This decline has raised concerns regarding the potential impact on industrial growth and job creation in the country.

A new World Bank assessment indicates that artificial intelligence (AI) has the potential to reshape the global economy and enhance growth, particularly as global markets face challenges such as geopolitical tensions, declining productivity, and a fragile recovery from the pandemic. The report highlights the transformative impact of AI amidst these ongoing economic issues.

The World Bank has reported that nearly half of developing economies are struggling to achieve economic growth, despite the global economy moving past the immediate disruptions caused by the pandemic. The findings were published in the World Bank's June report, highlighting ongoing challenges for these nations in their recovery efforts.

Zanzibar has approved a budget of TZS 8.52 trillion (approximately USD 3.28 billion) for the 2026/27 fiscal year, marking a 22.11% increase. The budget aims for a 7.5% GDP growth while reducing reliance on external financing to 2.8%. Key sectors for investment include tourism, agriculture, fisheries, small and medium enterprises, and the blue economy. Measures to attract investors include the upcoming launch of a stock exchange and tax incentives for manufacturers and commercial vehicles.

The Government of Tanzania is considering recommendations to enhance the small-scale mining sector by improving access to finance, technology, and geological information. Proposed measures include the establishment of a mining fund, the expansion of credit guarantees, and support for mineral research, all aimed at increasing employment, reducing poverty, and promoting economic growth.

The Tanzania Private Sector Federation (TPSF) and the Confederation of Tanzania Industries (CTI) have expressed support for the business and tax reforms included in Tanzania's 2026/27 Budget, which feature faster VAT refunds, investment incentives, and regulatory simplification. However, they emphasized that to meet the Tanzania Development Vision 2050 goal of becoming a USD 1 trillion economy, the country's economic growth must exceed the projected 6.3% in 2026, reaching over 10% annually.

In April, Uganda's private sector showed increased activity, with the headline purchasing managers' index rising to 55, its highest in five months, according to the Bank of Uganda's business tendency survey. Financial services experienced their strongest growth ever, indicating strong confidence in the sector, despite ongoing fuel-driven cost pressures. However, the survey also suggested that the underlying momentum may be losing some of its earlier strength.