USA, July 8 -- TANZANIAS determination to attract investment and boost private sector growth is evident through a series of ongoing reforms.

Yet, the country continues to face significant obstacles that hamper business competitiveness, as highlighted in the recently released IMF Country Report on Selected Issues.

One of the most pressing challenges is access to finance. Despite robust economic growth, the countrys financial sector remains shallow. As of 2023, outstanding domestic credit to the private sector stood at just 16.4 per cent of GDP, well below Kenyas 31.6 per cent, Rwandas 22.7 per cent and the Sub-Saharan Africa (SSA) average of 33.4 per cent.

The IMF report noted that “access to finance is ranked by Tanzanian firms a...