eTN earlier published an article on investing in Africa was based on a report by
Rand Merchant Bank’s seventh edition of Where to Invest in Africa.
One of our readers in Tanzania strongly objected to the ranking of Tanzania and responded. eTN guaranteed for the writer to remain anonymous. The response reads:
Did the writer actually contact anyone running a business in Tanzania?? The writer of the report it is based on likely never did and wrote something from half a continent away with no idea what is actually happening to the business community. Such articles and reports only serve to embolden current policies and will be used as encouragement that the path the current president is on is the correct one when it is in fact in a phase of rapid self-destruction.
A) investors are leaving in droves. Contact companies like Worldwide Movers to back this up.
B) many of the banks are on the verge of collapse due to a high level of nonperforming loans – the economy has tanked and people can’t pay the loans back. Several have already collapsed. Annual accounts/statements showing this have been pulled from websites.