The recently re-elected president of Tanzania, John Magufuli stated in November 2020 that his government predicts economic growth of 8% for the country over the next five years. This isn’t unreasonable given that the country’s GDP has grown by a CAGR of around 7% over the five years of Mr. Magufuli’s first mandate. Given that over half of the country’s export income comes from gold, the success of Shanta Gold is inextricably tied with the fortunes of Tanzania.
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