Forum highlights diaspora investment opportunities
A BUSINESS forum in Dubai has encouraged Tanzanians living and working in the United Arab Emirates to consider investing back home, particularly in the rapidly expanding real estate and property sectors.
Organised by Mkuyu Africa, the forum brought together Tanzanian entrepreneurs and traders to discuss investment opportunities in Tanzania and ways of acquiring property through formal and structured financial arrangements.
The initiative comes as economic and commercial links between Tanzania and Dubai continue to expand, with many Tanzanian traders travelling to the UAE to conduct business and source products ranging from clothing and valuables to interior décor items.
Speaking at the forum, Mkuyu Africa Director Juneid Othman said Tanzanians who left the country a decade ago would be surprised by the transformation of Tanzania’s construction sector.
He said rapid development in commercial and residential construction had created opportunities for people seeking to invest in property, particularly in major business centres and prime residential areas.
“If you left Tanzania 10 years ago and returned today, you could be surprised by the major changes that have taken place in the construction sector,” he said.
Mr Othman said developments such as the Kariakoo Nkruma project and Mkuyu Africa’s project in Masaki demonstrated the growing investment opportunities in commercial and residential property.
He said the availability of financing through banks and other financial institutions was also making it possible for Tanzanians living abroad to acquire property through formal arrangements.
Mr Othman encouraged members of the diaspora to view property investment as a long-term strategy for building wealth and creating assets for their families and future generations.
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Dubai-based valuables and interior décor trader Mr Ashraf Mohamud said many Tanzanians in the UAE were working to raise capital with the intention of eventually investing in Tanzania.
He said Mkuyu Africa’s engagement with the diaspora had provided participants with information and encouraged them to consider investment opportunities more seriously.
“We came to Dubai to look for opportunities and conduct business, but one of our goals is to raise capital and eventually invest back home,” he said.
Mr Ashraf said some Tanzanians had previously experienced difficulties when sending money to relatives to buy land or construct houses on their behalf.
He said such experiences had encouraged some diaspora members to seek more transparent and structured investment arrangements.
According to him, opportunities allowing investors to acquire property through financial institutions and pay in instalments, subject to agreed terms and conditions, could make it easier for Tanzanians abroad to invest directly.
Participants said investing in Tanzania could provide a means of building capital and securing assets for families while contributing to development at home.
The forum underscored the importance of providing the diaspora with reliable information, accessible financing and formal investment channels to enable them to participate more effectively in Tanzania’s growing property market.
