Tanzania, officially the United Republic of Tanzania (Swahili: Jamhuri ya Muungano wa Tanzania), is a country in East Africa bordered by Kenya and Uganda to the north; Rwanda, Burundi, and the Democratic Republic of the Congo to the west; and Zambia, Malawi, and Mozambique to the south. The country's eastern border is formed by the Indian Ocean. Kilimanjaro, Africa's highest mountain, is in north-eastern Tanzania.
The name "Tanzania" derives from the names of the two states, Tanganyika and Zanzibar; that united on 26 April 1964 to form the United Republic of Tanganyika and Zanzibar. On 29 October 1964, the country was renamed the United Republic of Tanzania.
The Head of State is H.E. President John Pombe Joseph Magufuli, who was elected in 2015. Since 1996, the official capital of Tanzania has been Dodoma, where the National Assembly and some government offices are located. Between independence and 1996, the main coastal city of Dar es Salaam served as the country's political capital. It remains Tanzania's principal commercial city and is the main location of most government institutions. It is also the principal port of the country.
Tanzania offers a moderate tropical climate and has a population of around 48 million. GDP of the country was US$28.25 billion1 in 2012. GDP growth rate of the country was 6.8% in 2012 compared to 4.3% of other developing Sub-Saharan countries during that time.
The drivers of growth over the past decade have been to a large extent the growth in the mining sector, telecommunications, tourism, and construction. There are now some signs of economic diversification.
Tanzanian economy is expected to continue to expand at the rate of approximately 6.5% to 7% in the short to medium term, which is consistent with its performance over the past decade. Investments in mining, especially gold, and the emergence of private activities boosted by better infrastructure, regional growth, and policy reforms in the business environment.
UBL’s Venture into Tanzania
Over the last five decades, UBL's global network has grown to over 1,300 branches, across UAE,Bahrain, Qatar, Yemen, USA and Pakistan. Through its subsidiaries, associated companies and representative offices, the Group also has a presence in the UK, Switzerland, Oman, China and now in Tanzania.
Tanzania's proximity to East Africa's land-locked countries and substantial business partnerships with Asian nations makes it a desirable place to initiate first business contact. UBL’s decision to choose Tanzania for its first foray into Africa was based on a number of positives about the country including its sound economic performance, political stability, abundant natural resources and the fact that Dar es Salaam port serves as an important conduit in facilitating trade flows within Tanzania and its six land-locked neighboring countries.
Chief Executive Officer
26 Mkwepu/Kaluta Street , P.O Box 5887, Dar es Salaam,
Tel : +255 22 5510200
Direct: +255 22 2136284
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