President Samia’s approach attracts investors


By Alfred Zacharia

Dar es Salaam. President Samia Suluhu Hassan’s pro-business approach is increasingly attracting investors, the latest being Africa’s richest man, Mr. Aliko Dangote.

Mr. Dangote, whose net worth is estimated at 11.1 billion dollars, met yesterday with President Hassan where he pledged to continue investing in Tanzania.

With his Mtwara cement plant, Mr. Dangote has already injected $ 770 million (17.6 trillion shillings) into the Tanzanian economy.

During the meeting, Mr. Dangote pledged to diversify his investment from cement production to other areas, through improved business environment.

A State House statement, signed by Presidential Communications Director Mr. Gerson Msigwa, said yesterday that Mr. Dangote was planning to build a fertilizer plant (without giving further details).

“The president wants more investors in the country in order to create more jobs and improve the national economy. We are committed to continuing to invest heavily in Tanzania, ”he said in the statement.

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With the current changes and improvements in the business environment in Tanzania, Mr. Dangote said he would invite his fellow investors to come and inject their money into the country.

President Hassan appreciated her commitment, assuring her and other investors of the full support and security of her government in their projects.

She tasked the Minister of Investment, Mr. Geoffrey Mwambe, his counterpart in industry and commerce, Professor Kitila Mkumbo, and the Deputy Minister of Finance and Planning, Mr. Hamad Masauni, to resolve the challenges facing him. the Dangote cement plant so that it can continue its operations and deliver the expected results.

Mr Dangote joins the growing list of prominent figures in the business, economic and political cycles who have called on the President for a courtesy visit since taking office on March 19, 2021 following the death in power of his predecessor, the late John Magufuli, in March. 17, 2021.

President Hassan has held meetings with key players in the international economy, foreign traders and visited neighboring countries such as Uganda and Kenya.

The President’s approach of meeting face-to-face with Heads of State and heads of bilateral organizations is a way to open and strengthen Tanzania’s diplomatic relations and strengthen its political influence across the region is now emerging. reestablish links with the outside world.

Earlier this month, former Nigerian President Olusegun Obasanjo visited and spoke with President Hassan.

During its two-day state visit to Kenya, Tanzania also saw Tanzania sign an agreement on a gas pipeline from Dar es Salaam to Mombasa and the leaders of the two countries resolved to remove trade barriers to increase trade. cross-border, by removing certain non-tariff barriers.

In April, President Hassan also visited Uganda where she signed the East African Crude Oil Pipeline Agreement (EACOP) and ensured to strengthen the strategic partnership and cooperation between the two countries and forge regional integration and people-to-people interaction. Ugandan President Yoweri Museveni was also in the country last week to witness the signing of the Host Government Agreement (HGA) between Tanzania and the companies behind the EACOP project.

On several occasions, the country’s first female head of state has said her goal is to regain investor confidence by tackling the obstacles investors face in their businesses.

Recent meetings she held with International Monetary Fund (IFM) Co-Chair Kristalina Georgieva also showed the President’s determination to nurture diplomacy.

At this meeting, the president assured the head of the IMF that the sixth phase government will cement cooperation between the two for the economic improvement of Tanzanians.

The organization said it was ready to start processing requests for funding made by Tanzania to mitigate the effects of the pandemic on several sectors.

On April 19, President Hassan also met with Mara Warwick, World Bank Country Director for Tanzania, Malawi, Zambia and Zimbabwe, at Chamwino State House in the capital of Dodoma.

The President pledged to strengthen her country’s cooperation with the World Bank, affirming that the bank was a catalyst for economic development.

“The World Bank is helping Tanzania improve social services such as education and health, and improve infrastructure,” she said.

while urging the World Bank to continue working with Tanzania to build an economy that will transform the well-being of citizens.

Ms Warwick said the World Bank had previously approved loans amounting to $ 4.9 billion to support various development projects in the country, making Tanzania one of the main recipients of the bank’s funding.


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