Tanzania Geography, Economy, Politics, and Culture

Tanzania is an East African country along the Indian Ocean. It is comprised of the isles of Zanzibar and the landmass of Tanganyika. The country is known for its peaceful political climate, enjoyed since its colonial past. Among its natural resources are phosphates, gemstones, iron ore, hydropower, gold, diamonds, tin, and natural gas. 43 percent of the land is agricultural and about 37 percent forested. It is the most populous East African country, with about 54 million people. 95 percent of the population is comprised of Bantu ethnic groups whose numbers make up 130 tribes. People of Arab heritage live mostly along the Indian Ocean coast and the Islands of Zanzibar. The main languages are Swahili, English, and Arabic. In Tanzania, almost 34 percent of the entire population lives in urban areas.

Tanzania has maintained a high economic growth of 6 to 7 percent for the last ten years. This, however, has done little to help minimize the poverty rate resulting from high population growth. Today, due to the recent change in government in 2015, 72 percent of Tanzanians believe that corruption has decreased compared to 2014’s 13 percent. There was a 7.1 percent real GDP growth in 2017 and a 33 percent decline in inflation rate as of July 2018.

2021
April 2Good Friday
April 5Easter Monday
April 7Karume Day
April 26Union Day
May 1Worker’s Day
May 13Eid el Fitri
July 7Saba Saba
July 20Eid al-Adha
August 8Farmers’ Day
October 14Mwalimu Nyerere Day
October 19Maulid
December 9Independence Day
December 25Christmas Day
December 26Boxing Day
  • Limited Liability
  • Corporation
  • Partnership
  • Corporate Tax: 30%
  • Income Tax (Lowest Marginal Rate): 15%
  • Income Tax (Highest Marginal Rate): 30%
  • VAT/GST/Sales Tax: 18%
  • AccessBank Tanzania (Local Bank)
  • Letshego Bank Tanzania (Local Bank)
  • Akiba Commercial Bank (Local Bank)
  • Amana Bank (Local Bank)
  • Azania Bank (Local Bank)
  • BancABC (Local Bank)
  • Bank M (Local Bank)
  • Bank of Africa Tanzania (Local Bank)
  • Bank of Baroda Tanzania Limited (Local Bank)
  • Bank of India (Tanzania) (Local Bank)
  • Barclays Bank of Tanzania (Local Bank)
  • Citibank (Local Bank)
  • Commercial Bank of Africa (Tanzania) (Local Bank)
  • CRDB Bank (Local Bank)
  • DCB Commercial Bank (Local Bank)
  • Diamond Trust Bank Tanzania (Local Bank)
  • Ecobank (Local Bank)
  • Equity Bank (Tanzania) (Local Bank)
  • Exim Bank (Tanzania) (Local Bank)
  • FINCA Microfinance Bank(Tanzania) (Local Bank)
  • First National Bank of Tanzania (Local Bank)
  • FBME Bank (Local Bank)
  • Guaranty Trust Bank (Tanzania) Limited (Local Bank)
  • Habib African Bank (Local Bank)
  • I&M Bank (Tanzania) (Local Bank)
  • International Commercial Bank (Local Bank)
  • Kenya Commercial Bank (Local Bank)
  • Mkombozi Commercial Bank (Local Bank)
  • National Bank of Commerce (Tanzania) (Local Bank)
  • National Microfinance Bank (Local Bank)
  • NIC Bank Tanzania (Local Bank)
  • People’s Bank of Zanzibar (Local Bank)
  • Stanbic Bank Tanzania Limited (Local Bank)
  • Standard Chartered Bank (Local Bank)
  • United Bank for Africa (Local Bank)
  • UBL Bank Tanzania Limited (Local Bank)
  • Mwalimu Commercial Bank (Local Bank)
  • Twiga Bancorp Limited (In receivership) (Local Bank)
  • TIB cORporate Bank (Local Bank)
  • First Housing Company Tanzania Limited (Local Bank)
  • Community banks (Commercial Bank)
  • Covenant Bank for Women Tanzania Limited (Commercial Bank)
  • Efatha Bank Limited (Commercial Bank)
  • Kagera Farmers’ Cooperative Bank (Commercial Bank)
  • Kilimanjaro Cooperative Bank (Commercial Bank)
  • Maendeleo Bank Plc (Commercial Bank)
  • Meru Community Bank Limited (Commercial Bank)
  • Mufindi Comunity Bank Plc (Commercial Bank)
  • Mwanga Rural Community Bank Limited (Commercial Bank)
  • Njombe Community Bank Limited (Commercial Bank)
  • Tandahimba Community Bank Limited (Commercial Bank)
  • Uchumi Commercial Bank Limited (Commercial Bank)
  • Microfinance banks (State Bank)
  • EFC Tanzania Microfinance Bank (State Bank)
  • Finca Microfinance Bank (State Bank)
  • Hakika Microfinance Bank (State Bank)
  • Tanzania Microfinance Bank (State Bank)
  • Yetu Microfinance (State Bank)

Aadmi can support you with your expansion to Tanzania. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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