Geita seeks investors as mining activities expand

GEITA: GEITA Municipal Council has invited local and foreign investors to take advantage of growing business opportunities in the municipality, particularly those emerging from the expansion of mining activities.

Geita Municipal Council Director, Yefred Myenzi, made the call yesterday during a special interview with the Daily News on investment opportunities available in the municipality.

He said growing mining activities have increased demand for restaurants, food supplies, hotels, residential buildings and other services.

“People need restaurants and different types of hotels. Currently, hotels in Geita charge between 150,000/- and 300,000/- per day,” he said.

Mr Myenzi said there was also significant potential for construction of large residential buildings and apartments due to growing demand for rental housing.

“Rental housing is also a major investment opportunity in our town,” he said.

He said other opportunities included gold concentrate processing, adding that the sector still required more investors to expand mineral processing activities.

Industrial construction and production of livestock products were also among the opportunities available in the municipality, he said. Mr Myenzi assured prospective investors that the council was ready to facilitate access to services required to establish and operate businesses.

He said the municipality had continued to create a favourable investment environment through infrastructure development, including roads, health centres, a regional referral hospital and dispensaries. Areas already identified and surveyed for investment included the President Dr Samia Suluhu Hassan Exhibition and Investment Area, he said.

Mr Myenzi said peace and security has also continued to be strengthened, describing them as important factors in attracting investors and facilitating economic activities.

According to him, the municipality has designated between 22 and 100 acres for industrial development, with some investors already expressing interest.

“There are still areas that need investors, and opportunities are available. We have plots in town for investment. Instead of buying land from brokers at inflated prices, prospective investors should visit our offices, where they can be directed to suitable areas for investment,” he said.

He said the council was ready to assist investors through the Land and Administration Department, enabling them to acquire land and access necessary services in accordance with established procedures.

On infrastructure, Mr Myenzi said measures taken by the council had expanded the paved road network, making travel and transportation easier in various parts of the municipality.

He said, with funding from the World Bank, the council implemented a project that facilitated construction of 17 kilometres of roads to paved standards, increasing the municipality’s paved road network to 41 kilometres.