10/05/2018
Magufulification Lands Tanzania World’s Fourth Fastest Growing Economy
May 07, 2018
By Nik Ngowi, New York*
6-5-2018, New York: INCREDIBLE and swift transformation in the manufacturing, communication, health and other sectors in Tanzania attest a new dawn for the continent’s readiness for serious business in my home country, the United Republic of Tanzania.
Tanzania is the world’s fourth fastest growing economy ahead of China and the United States, according to a report by the Centre for International Development (CID) at Harvard University. This is no surprising if one has to analyze trends and transformations happening there.
India tops the list of the World’s fastest growing economies for the coming decade with a projected growth of 7.89 annually till 2026. With oil economy on its lap, Uganda comes second on the list at 7.5 percent growth annually. Tanzania comes after Egypt at 6.63 per cent and Tanzania 6.15%. However with Magufulification effect, growth is expected to go above 7.0, meaning Tanzania could go higher steps in few years.
The Tanzania leader, Dr John Pombe Magufuli, a mathematician and chemist, circumvented the insanity described by his fellow mathematician Professor Albert Einsten, that doing the same thing over and over again expecting different results would land someone nowhere. He pioneered radical reforms characterized as “Magufulification."
Magufulification has thus far delivered results, just half his first term in office. African nations still struggling to breakthrough have a lot to learn.
The Most Powerful Economies in 2030
This does not refer to the fastest growing economies like the former, it refers to the world’s most powerful economies. Last year, PricewaterhouseCoopers ranked 32 most powerful economies in world by 2030. The ranking is based on global gross domestic product by purchasing power parity (PPP).
In this ranking, China was the first with US$38.008 trillion followed by the United States at US$23.475 tril
