What's up with Tanzania?

Fin24, a South African business news site, published an article today that sums up how the World Bank works. With all the buzz about the Wolfowitz scandal lately, it's nice to see a concise, clear explanation of the WB's inner workings, including a "Controversial Baggage" section.

The scandal aside, Wolfowitz, at a press round-table yesterday, said that India is an inspiration for Africa. At Business Facilities, we have been following U.S. manufacturing and communications companies as they expand to India due to its low cost and skilled workforce. Could developing countries in Africa be next?

For example, recently I came across an advertisement for doing business in Tanzania. Hakaya Kikwete has been president of this sub-Saharan country since 2005, and has watched the economy grow and the debt diminish. However the rate of poverty is still high.

Even so, the WB named Tanzania one of the 10 most improved countries. The Tanzania Chamber of Commerce launches their ad campaign this week.