FCC, TMA seal 1.56bn/- deal to spur efficacy

DAR ES SALAAM: THE Fair Competition Commission (FCC) and TradeMark Africa (TMA) have signed a 1.56bn/- agreement, aimed at enhancing the latter’s operational efficiency and modernising its functions.

Speaking at a press conference in Dar es Salaam yesterday, FCC Director General Mr William Erio stated that the three-year agreement focuses on three main areas: automating FCC services, strengthening Information Communication Technologies (ICT) infrastructure, and training the commission’s staff.

“Through this agreement, we aim to ensure our operations are system-driven, significantly upgrade our ICT infrastructure, and train our staff who are crucial to our performance and supervision,” explained Mr Erio.

He emphasized the alignment with the government’s direction towards modern and digital economic operations.

“Given the government’s vision of a digital economy and the President’s Samia Suluhu Hassan’s efforts to boost investment, we must also embrace automation and digital transformation,” he added.

The benefits of the agreement, according to Mr Erio, include increased investment, boost revenue collections and enhanced foreign exchange earnings.

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He also said that the strategic partnership is intended to align the FCC with the current government’s priorities and improve the business environment.

“We welcome this strategic partnership with TradeMark Africa as a significant milestone in our efforts to strengthen regulatory capacity and enforcement.

Together, we aim to create a level playing field for businesses, promote market competition, protect consumer interests, and support sustainable economic growth in Tanzania,” Erio stated.

He outlined two ways foreign investors can conduct business and invest in the country: registering a new company through the Tanzania Investment Commission (TIC) or through partnerships and business mergers facilitated by the FCC.

Country Director for TradeMark Africa, Mr Elibariki Shammy emphasized the importance of the partnership in boosting Tanzania’s global trade profile.

He said that the agreement is crucial not only for strengthening business but also for developing ICT capabilities.

“Our collaborative efforts with the FCC are a major step towards streamlining business processes and enhancing Tanzania’s profile in global trade. Through automation, capacity building, and an enhanced ICT framework, we aim to benefit all stakeholders,” stated Mr Shammy.

Mr Shammy noted that the agreement would promote sustainability and fair competition.

He also said that the partnership aligns with regional economic integration goals and supports increased intra-African trade under the African Continental Free Trade Area (AfCFTA). He said it also aligns with competition regulations as well consumer protection frameworks under the East African Community (EAC).

“The expected outcomes of this partnership include a more transparent and efficient trade environment, reduced border crossing times, and a robust framework for consumer protection. It’s a win-win for all, and we are committed to ensuring these benefits are realised,” stressed Mr Shammy.

Since its inception, TMA has delivered substantial gains for trade and regional economic integration in East Africa and the Horn of Africa, including a 16.5 per cent reduction in cargo transit times on the Northern Corridor from Mombasa to Bujumbura and a 70per cent reduction in crossing times at selected one-stop border posts.