Tanzania’s Ministry of Industry and Trade has recorded strong early gains as President Samia Suluhu Hassan approaches 100 days in office, driven by expanded youth financing, new factory investments, and rising business registrations.

Presenting the ministry’s performance update in Dodoma, Minister Judith Kapinga said 193 loans worth over TSh 820 million were issued, creating 546 jobs, largely for youth and low-income earners.

She announced new investments by Hyundai Automobile Manufacturing, Goodlife Investment Tanzania, and Sanda Max Group, expected to generate over 150 direct and 500 indirect jobs.

Business formalisation surged, with 4,233 companies registered, including 2,915 youth-owned firms, alongside 7,498 business names, 4,742 owned by youth. The ministry also issued 141 industrial licences, most to youth-led factories.

Kapinga said industrial zones and youth enterprise programmes are expanding nationwide, with assessments underway for industrial parks in 11 regions. More than 1,200 youth received entrepreneurship training, while digital platforms connected over 26,000 traders to market information.

She added that growth in clean energy, agro-processing, and agriculture is creating jobs, boosting incomes, and strengthening value addition across the country.

Source: All Africa