|First National Bank Tanzania Chief Executive Officer, Warren Adams speaks to invited guests in Dar es salaam during its annual economic breakfast meeting on Economic and Financial Markets Outlook for Tanzania.|
The event moderator Neville Mandimika, Africa Analyst at Rand Merchant Bank of South Africa said Tanzania is one of the 10 fastest growing economies in sub Saharan Africa that are expected to have solid economic growth driven by agriculture, construction and consumer sectors.
The projected growth is attributed to continued easing of monetary policies, fiscal reforms, adding that economic growth continues to mend while dependence on external funding continues to remain low. “The ongoing fiscal reforms are expected to increase revenue and help Tanzania to finance and solidify economic growth,” he said.
Mandimika said Tanzania is making its way forward in the face of changes in the regulatory developments such as the banning of coal imports, mandatory requirement for foreign firms to list shares at the Dar es salaam Stock Exchange, ban of unprocessed mineral exports and review of existing contracts.
Commenting about the global economic growth, Mandimika said the overall global economy continues to improve and is undergoing a synchronized growth with the exception of China whose economy is showing potential signs of slow growth.
The FNB Tanzania Chief Executive Officer, Warren Adams said the forum provided a unique opportunity for the participants to discuss a range of economic and financial topics including global and regional outlook, Tanzania’s economic outlook as well as Monetary and financial conditions.
About First National Bank (FNB)
First National Bank trades as a division of FirstRand Bank and can trace its origin back in 1838. FNB currently operates in South Africa, Namibia, Botswana, Zambia, Mozambique, Lesotho, Swaziland, Ghana and Tanzania. And it has declared a vision of becoming Africa's preferred financial services provider.
FNB Tanzania officially opened for business on 27 July 2011, and was officially launched on 02 February 2012. Arusha being the 10th outlet in the country; others include Main branch at FNB Head Office, Peninsula branch, Quality Centre branch, Mbezi Beach branch, Sinza branch, Mbagala branch, Kariakoo branch, Kimweri branch and Mwanza branch.
For more information, visit www.fnbtanzania.co.tz or email email@example.com