Tanzania Investment Centre hailed for being shining example in Africa

Juliet Rugeiyamu Kairuki - Executive Director, Tanzania Investment Centre.

Tanzania Investment Centre (TIC) has been hailed for promoting investment in industries leading to development of a diversified and robust manufacturing sector, according to Daily News.

SADC Investment Promotion Agency officers, who were in the country two weeks ago, commended the investment centre for particularly promoting investments in industries that use modern technology to boost productivity.

In their visit to Serengeti Breweries Limited and Bakhresa after their two-day meeting, the officers said Tanzania had made important strides in attracting investments which use modern technology in food and beverage sectors which has made Tanzania as an exemplary country in sub-Saharan Africa.

At Serengeti, they saw modern production technology in brewing process where the General Manager, Helen Weesie, said Serengeti focused on quality and safety. Serengeti Breweries Ltd (SBL) operates exclusively in Tanzania and is the 2nd largest beer company with a market share of about 25 per cent.

At Bakhresa industries, they were amused with the state-of-the-art of the factories in food and beverages and some were heard complaining why did the local investor, Said Salim Bakhersa choose to invest in a few countries only after they were told it had opened investments in Malawi, Zambia, Rwanda and DR Congo.

They said such a successful investor, should be encouraged to invest in all SADC region. Chief Executive Officer of Bakhresa industries, Mr Salim Aziz, hailed TIC for facilitating establishment of Bakhresa industries through investment incentives which have enabled Bakhresa investments in industries to become a success story.

TIC Investment Promotion Officer, Ms Lilian Mwamdanga, said the objective of the tour was to show SADC officials what Tanzania has accomplished so that they can learn and exchange experience.

She said it would reach time where TIC officials would travel to other SADC member countries to learn about their experiences in promotion of investments.

The Deputy Director for Industries in the Ministry of Industry and Trade, Dr John Mboya, said the two-day meeting was successful where SADC member states were so much attracted by investment promotion by TIC. Tanzania is among top earners of foreign direct investments in the sub-Saharan Africa.


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