Tanzania Advocates for African Investment Within the Continent

By Abass Ganiyu



ENUGU – The United Republic of Tanzania has urged African countries to prioritize intra-continental investment over seeking investors from outside the region. During a strategic investment forum organized by the Enugu Chamber of Commerce Industries, Mines, and Agriculture (ECCIMA) in Enugu, Tanzania emphasized the importance of African self-reliance in production and investment.

Dr. Binilith Mahenge, Chairman of the Board of Directors at the Tanzania Investment Centre, highlighted Tanzania’s economic stability, rich natural resources, peace, and advanced infrastructure as key factors making it an attractive investment destination. He noted that there are currently 28 Nigerian companies operating in Tanzania, contributing to job creation and economic growth.

Mahenge also underscored Tanzania’s favorable investment policies, including a five-year tax waiver for foreign investors and the ability to repatriate profits. He encouraged Nigerian investors to explore opportunities in Tanzania’s hospitality, tourism, real estate, agriculture, and mining sectors.

ECCIMA President, Mr. Odeiga Jideonwu, reiterated the chamber’s commitment to fostering profitable bilateral trade relations with African countries. He expressed hope that Nigerian businesses would take advantage of the opportunities in Tanzania to establish a lasting economic partnership.

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