Tanzania

Despite the spillover effects of the war in Ukraine and lingering impact of Covid-19, Tanzania’s economy grew by an impressive 5.4 percent in the first quarter of 2022.

Tanzania’s central bank has announced intentions to launch its central bank digital currency (CBDC) amid the global rise and the increasing adoption of cryptocurrencies.

The country’s banking sector assets grew below five per cent last year despite coronavirus pandemic shock thanks to loan book.

Tanzania is likely to emerge in the coming months as the fastest growing economy in Africa in 2020.