Yanga launches 5.5bn/- tower project

DAR ES SALAAM: YOUNG Africans has launched construction of a 12-storey commercial building in Kariakoo, Dar es Salaam, in a move aimed at creating a new source of income for the club.

Yanga president Hersi Said announced the project yesterday during a contractsigning ceremony in Dar es Salaam.

The building, to be known as Yanga Tower, will be constructed at the junction of Mafia and Nyamwezi streets, where a large tent currently stands.

The construction contract has been awarded to Group Six International at a cost of 5.5bn/-, with Azania Bank providing financing for the project.

Hersi said the investment was part of the club’s plan to strengthen its financial position and reduce reliance on income from football.

“It has taken a long time to plan, but today we are laying the foundation for a legacy for future generations,” he said.

The tower will include shops and offices and is expected to provide Yanga with a sustainable source of revenue once completed.

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Hersi said the contractor was selected through an open tender process following consultations with experts.

He said the land on which the tower will be built was acquired by Yanga in the 1960s during the leadership of former club president Jabir Katundu through members’ contributions and fundraising matches.

The project is expected to strengthen Yanga’s presence in Kariakoo, one of Dar es Salaam’s main commercial centres, while giving the club a long-term investment asset.