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Tanzania woos Nigerian investors

The Tanzanian Government has urged Nigerians with attractive business opportunities to tap abundant economic resources in her country.

Chairman, Board of Directors, Tanzania Investment Centre, Dr. Binilith Mahenge, said the visit to Enugu was to present business opportunities to Nigerian investors that would be mutually beneficial to both Nigeria and Tanzania.

He spoke at an event on Thursday in Enugu, tagged “Tanzania Investment Forum” with members of the Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), in attendance.

The theme of the event was : “Strategic Investment Form For Prospective Investors in Enugu, Nigeria”.

Although Mahenge acknowledged that there were Nigerian investors in Tanzania, but noted that the number was infinitesimal compared with the avalanche of business opportunities yet to be harnessed in the East African nation.

He said: “We are encouraging and advocating for more investments as there are many entrepreneurs in Nigeria whom we want to capture more of the available business opportunities.

“Presently, investment is being done by every country of the world including developing countries because through investment, jobs can be created, currencies of other countries can be attracted and influx of new technologies.

“So, everyone wants investment in his country.

“Tanzania is a peaceful country and from 1961 when we got independence with six successive governments, the country has always been in peace.

“We have abundant natural resources which Nigerians can invest in and our economic growth will make their investment very comfortable,” he assured.

He, however, urged Nigerians to invest in agriculture, tourism and other areas, adding with that Africans could invest, exchange their technologies and businesses.”

Mahenge extolled the inquisitiveness and willingness of the investors in Enugu on the procedures on how to invest in Tanzania noting that they demonstrated willingness especially with the questions they asked.

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He, nonetheless, expressed displeasure by the way Africans were doing in business, stressing that more needed to be done given the continent’s rich natural resources.

“Each country has what they produce. It is better for us to exchange our products within the African continent as we have the capabilities,” he said.

Earlier, the Acting Tanzania High Commission in Nigeria, Mrs Judica Nagunwa, explained that the country’s main goal was to inform Nigerians especially, investors in Enugu to bring their businesses, explore the potential opportunities in Tanzania and invest in them .

Nagunwa represented by Mr Philbert Peter, the First Secretary-Economic Affairs, Tanzania High Commission, Abuja, said the Commission covered 15 West Africa countries with Nigeria inclusive and was responsible for the country’s economic diplomats to promote investment and ease of trade.

“I came here in April to explore the possibility of the embassy’s participation in 2024 Enugu Trade Fair.

“When we visited Enugu, we presented the potential we had in Tanzania to ECCIMA President, Odeiga Jideonwo.

“But he said that he wanted members of ECCIMA to be informed about these opportunities and we spoke to Tanzania Government who sent Mahenge to come and speak to investors in Enugu,” he said.

Presenting the opportunities, the Senior Investment Officer, Tanzania, Gaudence Mmassy, said Nigerians could invest in Tanzania given its economic stability, labour force, rich natural resources, peace and political stability as well as access to market.

He explained that the investors could invest in Agriculture and agro processing, pharmaceutical, tourism, real estate, clean energy, mining and metals and oil and gas sectors.

“There are $800 million to $1 billion value opportunities in medicine and medical devices with government’s goal of reducing import bills.

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“Nigeria with less than 28 companies in Tanzania created 1,990 jobs with $1,358.42 investment value,” he said.

In a welcome address, ECCIMA’s President, Jideonwo, said the meeting would lead the people expanding their business empires to Tanzania while Tanzania people would also find Enugu as the most suitable for investment destination inNigeria.

Jideonwo noted that the programme was one of their efforts towards building a lasting and profitable bilateral trade and business relation starting with the African countries.

“It is our hope that those of us in Agriculture, ICT, Health, Construction, Manufacturing of consumer goods, financial services, environmentand energy, real estate, will after this programme further plan a trip to Tanzania to sign MOU for bilateral investment,” he said. (NAN)

Alex Enebeli
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