Mining

Mining sector contributes about 2.3 per cent of the GDP, which is projected to account 10 per cent in 2025. Tanzania has a great potential particularly for gold, base metals, diamonds, ferrous minerals and a wide variety of gemstones, some of, which are unique such as Tanzanians. Coal, uranium, and various industrial minerals such as soda, kaolin, tin, gypsum, phosphate and dimension stones are available at an attractive economic rate. Gold and diamonds has always been the mainstay of the country’s mineral production

Agriculture

Agriculture is the foundation of the Tanzanian economy.  It accounts for about half of the national income. Tanzania is well endowed with a variety of farming systems with climatic variations and agro-ecological conditions of which crops can be grown

Energy

Tanzania has good prospects of becoming a major producer of natural gas by the end of a decade, according to the International Monetary Fund (IMF). Tanzania's natural gas reserves are now estimated at more than 45 trillion cubic feet following major gas discoveries in the country's deep-water offshore region.

Electricity is mainly generated from hydropower - which is prone to drought effects- so some thermal power stations have been installed. Only three quarters of the country (mainly urban areas) is connected to the national grid. Tanzania has per capita electricity consumption of 46/KWh per annum, which is growing at the rate of 11 - 13 per cent. Hence the government is encouraging investment to expand generating capacity, distribution system and developing indigenous sources of energy.

There are other indigenous alternative sources of energy which include coal. Tanzania has 1,200 million metric tons, which could provide energy for paper mills, cement factories, agriculture and household consumption, and generation of power.

Wind and solar energy is another source of energy. Very little attempt has been made to utilize this source of energy which could be a viable alternative source to reduce use of wood and oil for heating purposes.

Tourism

Tanzania’s tourism sector is among the sectors with great economic growth potential.  It provides a substantial amount of foreign exchange earnings, employment for 30,000 people and stimulates other sectors like agriculture thereby contributing to the economic growth. The sector continues to face general deterioration of supportive infrastructure particularly those related to accessibility and reliability, thus there is need for improvement in tourist related facilities and services which would boost this sector’s performance tremendously.  Marketing of tourist products is another essential element to promote Tanzania’s desirable tourist destination.

Education & Financial services

Education is a continuously developing sector and contributes significantly to the Tanzanian economy. There is a need to develop the sector to meet international standards.

Mineral resources have contributed to the fact-t that the financial sector is one of the fastest growing sectors in Tanzania. There are a number of local and international banks being established within the economy.

Source: Ivan Korsak