Since Tanzania welcomed market economy principles in the post-SAP/ERP programs in the 1980s the economy has boomed. Significant strides have been made in access to clean and safe water, electricity, road infrastructure, education expansion as well as growth of the private sector.
The expansion of the private sector has been more profound and can be highlighted in many ways. In 1991 Tanzania had less than 10 banks, the number is 52 as of today. Private sector lending has skyrocketed from 1 trillion in early 2000’s to around 17 trillion today. Nations’ wealth per capital went up 92%, manufacturing exports has been growing at around 7% since 2006, and total investments in mining alone is above $3bn since 1998.
Tracking this progress has however been an uphill race. With data being scarce, attribution is fuzzy. Information remains clustered in few regulatory institutions and agencies, and few that are disseminated by government bodies hardly tell the whole story from private sector perspective. From July 2017, TPSF will embark on publishing monthly private sector report. The report will inform on where the 7% average national growth comes from and assist in making attribution. It is our belief that the SoPS report will unmask the contribution of the sector in the economy.