Dar deepens London investment ties
LONDON: TANZANIA has pledged to strengthen cooperation with the UK, international partners and investors to support its economic transformation and national development priorities.
Prime Minister, Dr Mwigulu Nchemba, made the commitment over the weekend during a meeting with investors and representatives of international financial institutions, commercial banks, development organisations, diplomatic missions and research institutions at Chatham House in London.
Dr Nchemba, who is in the UK on a five-day working visit, conveyed greetings from President Dr Samia Suluhu Hassan and reaffirmed the government’s commitment to strengthening relations with the UK and other international partners.
He said Tanzania is implementing Dira 2050, which provides the country’s long-term development direction and seeks to transform the economy, expand opportunities and improve people’s livelihoods.
The Premier said the government is working to transform the structure of the economy by moving away from reliance on exporting raw agricultural and mineral products towards domestic processing manufacturing and value addition.
“Tanzania has moved from planning to implementing Dira 2050, and is now looking for capable partners who can deliver tangible economic results,” Dr Nchemba said.
Dr Nchemba stressed that economic growth should be inclusive, create jobs and ensure that the benefits of development reach a wider section of the population.
He also discussed investment opportunities, infrastructure financing, regional cooperation and international partnerships with the participants.
In a separate meeting with representatives of Standard Bank, Dr Nchemba stressed the importance of directing financing towards productive investments that would expand private-sector participation and increase economic benefits for citizens.
The PM also met representatives of the Private Infrastructure Development Group (PIDG), a development finance organisation that supports infrastructure investment through project development, guarantees and financing.
The discussions focused on expanding PIDG’s investments in Tanzania, strengthening public-private partnerships (PPPs), financing strategic infrastructure and identifying opportunities for private-sector participation in infrastructure projects.
PIDG is supported by six governments: The United Kingdom, Sweden, the Netherlands, Switzerland, Australia and Canada. The UK, through the Foreign, Commonwealth and Development Office (FCDO), has been a major funding partner since the organisation was established about 25 years ago.
PIDG provided a 50 million US dollar (about 130bn/-) guarantee to CRDB Bank five years ago. Following the successful implementation of the arrangement, the guarantee was increased to 100 million US dollars (about 264bn/-) in 2025.
Dr Nchemba commended PIDG for its contribution to Tanzania’s financial sector, infrastructure development and private-sector growth.
He said the organisation’s technical expertise aligns with Tanzania’s priority areas, particularly infrastructure, telecommunications, ports, energy and investment facilitation.
Dr Nchemba was accompanied by Finance Minister Ambassador Khamis Mussa Omar, Zanzibar Minister for Finance and Planning Dr Juma Malik Akil, Minister of State in the President’s Office responsible for Planning and Investment Prof Kitila Mkumbo and Minister for Minerals Anthony Mavunde.
The delegation also included Minister for Communication and Information Technology Angellah Kairuki, alongside permanent secretaries and officials from the Tanzania Investment and Special Economic Zones Authority (TISEZA) and the Zanzibar Investment Promotion Authority (ZIPA).
