This is a huge leap forward economically, with the economy intertwined with the traditional economy, making a clear delineation harder.
The digital economy results from billions of everyday online connections among people, businesses, devices, data, and processes.
It is based on the interconnectedness of people, organisations, and machines that results from the internet, mobile technology and the internet of things. Without the internet, the digital economy that the global economy runs on would not exist in its current form.
This comes when Tanzania has achieved the middle income status that has been confirmed by the World Bank (WB), going forward with putting in place many industries manufacturing different products across the country.
Launching of the plant means that Tanzania is now recognized worldwide with the new products in the age of advancement of science and technology.
The plant, going by the name of Raddi Fibre Manufacturing Limited, owned by Mr Ramadhani Milanzi was launched on 3rd December 2021 by President Samia Suluhu Hassan.
It has been a long journey to achieve the success of putting in place the industry of its own kind in the region, the owner having gone through difficulties, including access to credit from a bank.
Upon its completion, it will create 670 employment opportunities and that is of huge benefit to Tanzanians. Apart from the employment, given the fact that it is the only optic fibre cables plant in East Africa, it translates that there will be a big market for the product, meaning that Tanzania will earn more foreign currency and that is a boost to the economy.
The Government of Tanzania has been working hard to improve investment and business climate and now the Mkuranga plant will be the third-top among four factories in Africa.
Being owned by a Tanzanian investor is yet another pride to Tanzanians. The project was registered in 2015 by the Tanzania Investment Centre (TIC) and CRDB Bank availed the investor a credit amounting to 22bn/- that has played a great role in establishing the factory.
While we congratulate all stakeholders who have made it possible for the investment to materialise, we call upon more Tanzanians to invest in the country and banks and financial institutions to extend loan facilities to them for realisation of industrial economy.
