Tanzania
The ISO code of Tanzania is TZ according to the ISO 3166 standard. The local name of the country is Jamhuri ya Muungano wa Tanzania. Tanzania capital city is Dodoma. People in Tanzania speak the Swahili, and English languages. On 9 December 1961, Tanzania emerged as a sovereign political entity. In the year 12/09/1961, Tanzania emerged as a sovereign political entity. The largest cities in Tanzania are Dodoma, Dar es Salaam, Mwanza.
Tanzania is located in the UTC +03:00 time zone, which is also called Eastern Africa Time or EAT. The internet country code top-level domain (ccTLD) for Tanzania is .tz. The International dialing code for Tanzania is 255. People in Tanzania drive on the left side of the road. Total land area of Tanzania is 947,300 km² (approx. 365,753 mi²). Tanzania is not a landlocked country. It means that is is bordered by at least one major body of water.
Tanzania is located in Africa. Tanzania is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Tanzania faces various issues, including soil degradation, deforestation, desertification, destruction of coral reefs threatens marine habitats, recent droughts affected marginal agriculture, wildlife threatened by illegal hunting and trade, especially for ivory.
Doing business in Tanzania
We offer various corporate services in Tanzania jurisdiction. These services can serve both, people coming from Tanzania and foreigners. If you plan on doing business in Tanzania you might be interested in contacting us.
To find out about starting your business in Tanzania click on company formation in Tanzania.
To find out how to open a bank account in Tanzania and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Tanzania.
Choose preferred service below or continue reading to find out more about Tanzania.
Demographics of Tanzania
The total population of Tanzania is 59,091,392 people. In Tanzania, the population density is 51 people per square kilometer (133 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Tanzania is 0.7353. Tanzania has approximately 312778 foreign immigrants. The median age is approximately 17.4 years. In Tanzania, 13.08 in every 100 people use internet. Tanzania has a Human Development Index (HDI) of 0.488.
The majority religion of Tanzania is Christianity, Tanzania is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Tanzania.
Culture of Tanzania
People in Tanzania speak the Swahili, and English languages. According to data on inbound tourists in Tanzania, 1,063,000 tourists arrive in the country each year. One of the most popular national dishes of Tanzania is ugali. To read more click on culture of Tanzania.
Geography of Tanzania
Tanzania is considered to be a large nation because of its total area. Its total land area is 947,300 km² (approx. 365,753 mi²). Tanzania is located in Africa. Its capital city is Dodoma. Tanzania has 8 neighbouring countries. Its neighbours include Burundi, Democratic Republic of the Congo, Kenya, Malawi, Mozambique, Rwanda, Uganda, and Zambia. Total length of land borders of Tanzania is 4161 kilometers (~1,607 miles).
The highest point of Tanzania is Kilimanjaro, with its official height being 5892 m (19,332 ft). Including land mass and EEZ, the total area of Tanzania is approximately 1,189,188 km² (~459,146 mi²). The most notable natural resources found in Tanzania are hydropower, tin, phosphates, iron ore, coal, diamonds, gemstones, gold, natural gas, nickel.To read more click on geography of Tanzania.
Economy of Tanzania
The currency of the country is Tanzanian shilling. The symbol used for this currency is Sh, and it is abbreviated as TZS. 2.2% of population in the country are unemployed. The total number of unemployed people in Tanzania is 1,300,011. Each year, Tanzania exports around $5.92 billion and imports roughly $11.16 billion. The Gini Index of the country is 37.6. Tanzania has a Human Development Index (HDI) of 0.488.The Global Peace Index (GPI) for Tanzania is 1.903. Tanzania has a government debt of 34.4% of the country's Gross Domestic Product (GDP), as assessed in 2012. Tanzania is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are agricultural processing (sugar, beer, cigarettes, sisal twine), mining (diamonds, gold, and iron), salt, soda ash, cement, oil refining, shoes, apparel, wood products, fertilizer.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Tanzania is $128,158 billion. Each year, consumers spend around $15,201 million. The ratio of consumer spending to GDP in Tanzania is 0%, and the ratio of consumer spending to the world consumer market is 0.0438. The corporate tax in Tanzania is set at 30%. Personal income tax ranges from 15% to 30%, depending on your specific situation and income level. In 2013, Tanzania received 2831.8 million USD in foreign aid.In 2014, the foreign aid amounted to 2445.7 USD.To read more click on economy of Tanzania.
Infrastructure of Tanzania
Infrastructure quality in Tanzania is rated to be at 2.32. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Tanzania, 15.3% of the population has access to electricity. There are 26,074 internet hosts in Tanzania. Tanzania has 166 airports nationwide.
The logistics performance index of Tanzania is 2.33. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.11. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.
The number of road motor vehicles per 1000 inhabitants in Tanzania is 2. To read more click on infrastructure of Tanzania.
Politics of Tanzania
Tanzania, is a unitary presidential constitutional republic. With regard to political and civil freedoms, Tanzania is 2. Citizens in Tanzania experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Tanzania, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is John Magufuli.
According to the World Bank Group, the government effectiveness index of Tanzania is -0.64. This indicates that the government of Tanzania is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Tanzania, the legislative power is vested in a National Assembly. The Global Peace Index (GPI) for Tanzania is 1.903. The strength of legal rights index for Tanzania is 5. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Tanzania received 2831.8 million USD in foreign aid. In 2014, the foreign aid amounted to 2445.7 USD. Tanzania is a member of the United Nations (UN). On 14 December 1961, it joined the UN as a full member state. Tanzania is a member of the African Union (AU). On 16 January 1964, it joined the AU as a full member state. Tanzania is a member of the World Bank. To read more click on politics of Tanzania.
Environment of Tanzania
Tanzania emits 0.2 metric tons per capita of CO2. 352570 km² of Tanzania's territory is covered in forests. and forest land comprises 37% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Tanzania is 2. To read more click on environment of Tanzania.
Company formation in Tanzania
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Tanzania.
When establishing a company in Tanzania, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Tanzania that will affect the establishment and growth of one's business. Contact us or click on company formation in Tanzania to read additional information when setting up a business.
Bank account opening in Tanzania
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Tanzania. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Tanzania, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Tanzania or contact us.