Tanzania woos French investment
PARIS: TANZANIA has invited French investors to tap opportunities in strategic sectors ranging from mining and infrastructure to agriculture, digital technology and the blue economy, as the government intensifies efforts to position the country as one of Africa’s leading investment destinations.
Addressing the Tanzania-France Business Roundtable in Paris, Prime Minister Dr Mwigulu Nchemba said Tanzania was seeking long-term partnerships that would promote industrialisation, technology transfer and value addition while accelerating t h e country’s economic transformation agenda.
“The next phase of our partnership must move beyond traditional trade of raw materials heading one side and finished products heading the other way,” Dr Nchemba said.
He added, “We are gathered here to commit our private sectors towards joint production, technology transfer, research collaboration and value addition. We should not simply exchange goods, but rather complement each other in the value chain of specific industries.”
The Premier said Tanzania and France had entered a new phase of economic cooperation driven by investment, industrial development and shared economic ambitions.
He identified agriculture, infrastructure, mining, digital technologies and the blue economy as among the sectors offering significant opportunities for French investors.
Dr Nchemba said agriculture remains a cornerstone of the economy, contributing 26.5 per cent of the Gross Domestic Product (GDP), employing 65 per cent of the workforce and generating 30 per cent of export earnings.
However, he said the government’s focus extends beyond primary production to agro-processing, food manufacturing, irrigation technologies, cold-chain logistics and agricultural mechanisation.
“Our ambition extends well beyond primary production,” he said, noting that Tanzania seeks to create more value locally before products reach international markets.
The Prime Minister also highlighted major investments in ports, railways, highways, airports and energy infrastructure, saying they are transforming Tanzania into a regional transport and logistics hub.
He said French expertise in engineering, urban mobility, transport infrastructure and renewable energy aligns closely with Tanzania’s longterm development priorities.
Dr Nchemba further invited French companies to invest in Tanzania’s mining sector, which possesses substantial reserves of gold, diamonds and tanzanite, alongside critical minerals such as graphite, lithium, uranium and rare earth elements.
“Our focus is no longer limited to extraction; it is directed towards beneficiation, refining, mineral processing and industrial manufacturing,” he said. “We welcome partners who are prepared to invest across the entire value chain.” he said.
Dr Nchemba said opportunities also exist in the blue economy, including port development, maritime transport, fisheries, aquaculture and marine services, as well as in digital technologies, artificial intelligence, financial technology and innovation ecosystems.
“Tanzania offers precisely that opportunity,” Dr Nchemba said. “We are not inviting investors simply to enter a market of over 70 million people. We are inviting you to establish a longterm partnership in one of Africa’s fastest-growing and most strategically positioned economies.”
Earlier, Minister for Foreign Affairs and East African Cooperation Ambassador Mahmoud Thabit Kombo said the business roundtable aligned with the country’s Vision 2050 agenda, which envisages the private sector contributing 70 per cent towards achieving national development goals.
On her part, Tanzania Private Sector Foundation (TPSF) president Ms Angelina Ngalula said Tanzania stands at the centre of Africa’s economic transformation under the leadership of President Samia Suluhu Hassan.
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“For many years, France has been a valued investment partner to Tanzania, but now we should focus on longterm partnerships which would enhance technology transfer, boost tourism, financial services as well as the digital economy. TPSF is ready to facilitate partnerships between Tanzania and French businessmen,” she said.
The Prime Minister also witnessed the signing of a Memorandum of Understanding (MoU) between the International Chamber of Commerce (ICC) and the Tanzania Private Sector Foundation (TPSF), with TPSF Chief Executive Officer Mr Deo Massawe exchanging the agreement with ICC Deputy Secretary General Mr Julia Kassum.
