Tanzania’s Prime Minister, Mwigulu Lameck Nchemba, says the country has managed to finance more than 70% of its operational budget through domestic resources, while maintaining steady economic growth of around 6%.
Speaking at the High-Level Event marking the launch of the African Economic Outlook 2026 under the theme “Financing Africa at Scale” in Brazzaville, Nchemba outlined Tanzania’s economic strategy and highlighted how African nations can replicate similar home-grown financing models to drive sustainable development across the continent.
Nchemba says the country has managed to finance more than 70% of its operational budget through domestic resources,
“It is true that we in Tanzania have managed to finance our domestic budget by over 70%. It was a long journey which started with the strategy of building a strong institution responsible for tax collection, that is the Tanzania Revenue Authority. And then after the establishment of the Tanzania Revenue Authority, which overseas had the opportunity to take in charge of the reforms of the tax systems and tax administrations.”
Meanwhile, Botswana’s $27-billion Economic Transformation Programme has laid out an ambitious blueprint aimed at diversifying the country’s economy and strengthening its income base beyond diamonds.
Botswana’s Vice President and Finance Minister, Nkosinathi Gaolathe, explains how the country plans to mobilise the financing needed to drive the transformation agenda and unlock long-term sustainable growth.
“Botswana has what is called the Botswana Economic Transformation Program, and what that entails, there was a process where we partnered with a strategy firm where we did a diagnosis of global megatrends, continental megatrends, and where Botswana feeds into these value chains. What this enabled us, we had an international and local call for investment proposals. We received about 7 000 of them.”
–Channel Africa–
