Tanzania's construction industry has grown tremendously in recent years.

 Tanzania's dramatic growth in building activity is obviously a marvelous sight to see as the country's infrastructural progress has risen.

Tanzania's building sector has seen rapid growth in the last six months, which has had a knock-on impact on the average resident.
In a press conference, Deputy Minister for Works, Transport, and Communication, Elias Kwandikwa, stated that increased building finance has a direct and indirect effect on individual people.
According to Kwandikwa, “the increase in funding represents the growing number of small and large building ventures that have provided development opportunities for the public.”
According to the Bank of Tanzania (BoT), the building sector leads in economic activities with the highest annual credit growth earned from commercial banks.
It is important to remember that such funding in the sector has benefited steel, metals, roofing, and interior designers, as many projects are currently underway.
It has also increased the country's goods exports during the quarter ending December 2020 as a result of the exportation of building and construction materials to finance ongoing development projects.
The minister indicated that as more facilities are built, the industry's contribution to the national economy will grow to 14%.

Posted on : 19 May,2024

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