Tanzania has surged to the fourth position in the latest Standard Bank Africa Trade Barometer (ATB), reflecting the country’s growing appeal for trade in Africa. The Standard Bank ATB, a leading trade index, tracks key data on trade openness, finance access, infrastructure, and macroeconomic stability across 10 major African economies. These nations, including Angola, Ghana, Kenya, and South Africa, account for 66 percent of Africa’s GDP and 45 percent of its population, forming the backbone of the African Continental Free Trade Area (AfCFTA).
Tanzania’s impressive rise from eighth to fourth place is largely attributed to strategic investments in infrastructure and improved access to finance. These factors have enabled Tanzanian businesses to increase their participation in regional trade, positioning the country as a rising trade hub.
‘We are seeing tangible progress in Tanzania, where investments in infrastructure are opening up new trade opportunities and enhancing the country’s competitiveness,’ said Philip Myburgh, group head of Trade at Standard Bank Business and Commercial Banking.
In contrast, Ghana’s position has sharply declined from third to seventh in the rankings, reflecting the ongoing economic challenges it faces. Economic volatility, reduced trade confidence, and difficulty accessing foreign currency have hampered Ghana’s ability to maintain its trade competitiveness. This decline is concerning, as Ghana has long been viewed as one of West Africa’s most stable and democratic nations.
The drop is primarily due to macroeconomic instability, with businesses struggling to obtain the necessary foreign currency—especially US dollars—to finance imports and facilitate cross-border trade, a challenge particularly affecting small and medium-sized enterprises.
The ATB report also reveals a shift in trade standings across the continent. Countries like Tanzania, Mozambique, Nigeria, and Zambia have shown improvements in their rankings, while Ghana, Uganda, and Kenya have seen declines. South Africa, Namibia, and Angola have maintained their positions.
Overall, the trade outlook for Africa remains mixed, with relatively stable economic growth projected at 4.3 percent for 2025. However, challenges persist, such as high inflation—forecasted to hit 9.9 percent in 2024—driven by currency depreciation and extreme weather events like droughts and floods.
While economic diversification, infrastructure investments, and sectoral growth in oil, mining, and agriculture offer positive signals, the report underscores the importance of prudent economic management. As countries continue to navigate challenges such as climate risks and inflation, fostering resilience will be crucial to sustaining growth and enhancing Africa’s trade attractiveness.
‘Reliable data and informed decision-making are essential for driving sustainable trade and economic growth in Africa,’ added Myburgh. ‘The Standard Bank ATB serves as a vital tool for businesses, governments, and investors looking to navigate the evolving trade landscape and unlock new opportunities across the continent.’
The ATB’s insights are especially crucial as African countries move towards greater integration under the AfCFTA, a milestone that promises to reshape the continent’s trade dynamics and offer businesses a more integrated regional market.
