DTB hosts European investors as Tanzania’s investment momentum grows

DAR ES SALAAM: Diamond Trust Bank Tanzania has hosted a high-level business networking forum bringing together European investors, business leaders and government officials to discuss Tanzania’s expanding investment opportunities.

The forum, held in Dar es Salaam on Thursday, brought together members of the European Business Group, which represents about 120 companies and investors from several European countries operating in Tanzania.

DTB Tanzania Chief Executive Officer, Mr Ravneet Chowdhury, said the bank convened the meeting as part of its role in supporting dialogue between investors, financial institutions and public agencies involved in investment facilitation.

Speaking during the event, Mr Chowdhury said the gathering marked the beginning of an important conversation on how to support investors seeking to establish industries and expand operations in Tanzania.

He said the participation of the Tanzania Investment and Special Economic Zones Authority gave investors a clearer understanding of the country’s investment facilitation framework.

“We were fortunate to have TISEZA with us. They explained what TISEZA is doing as a one-stop shop for investors coming into Tanzania, giving them one window to help them get their licences and get up and running as soon as possible,” he said.

Mr Chowdhury said stronger engagement between banks, investors and government agencies would help support industrial development, job creation and economic growth.

“This was the beginning of an important conversation in terms of enabling investors to come and set up industries. That is wonderful news because it will drive employment generation and support GDP growth in the country,” he said.

Speaking at the forum, TISEZA Director General, Mr Gilead Teri, said Tanzania’s fast-growing economy continues to open major opportunities across transport, logistics, manufacturing, infrastructure, mining, tourism and urban development.

He said the country currently requires about 15,000 trucks annually to support expanding trade, construction, mining, port activity and regional logistics corridors.

“The demand for trucks in Tanzania is 15,000 every year, and that demand is growing. It is one of the strongest markets on the continent, second only to South Africa, and it is not slowing down,” Mr Teri said.

He said the demand reflects wider economic expansion driven by infrastructure development, industrialisation, regional trade and rapid urbanisation.

Mr Teri urged investors to move quickly, saying Tanzania offers opportunities across several sectors and regions.

“If you are looking to invest or expand your business, this is the time. When you hesitate, someone else is already taking the opportunity,” he said.

He said Tanzania’s strength lies in its diversified economic base, with agriculture, mining, tourism, manufacturing and services all contributing to growth.

Mr Teri added that rapid urbanisation has created new opportunities in housing, banking, retail, manufacturing, logistics and social services, especially as several regions now have populations above one million people.

According to him, investors from different parts of the world are already positioning themselves in Tanzania, with Asian investors active in manufacturing, European investors in tourism, and Canadian and Australian investors in mining and extractives.

Mr Chowdhury said DTB Tanzania remains optimistic about the country’s long-term outlook and will continue supporting entrepreneurs, corporate clients and investors with financial solutions that match Tanzania’s growth momentum.

“We are delighted with the function, and we look forward to hosting many more such functions in the future,” he said.