TANZANIA Chamber of Commerce, Industries and Agriculture (TCCIA) has said the tour of the East African member states by the business delegation has been suspended due to the outbreak of Covid-19.
Kagera Regional TCCIA Executive Secretary, Mr Rwechungura Mali told the “Daily News” in an interview that after the Kagera Investment Forum (KIF) held in July, last year a delegation of 53 business people was scheduled to visit several East African Community (EAC) member nations for a business exchange tour.
“Kagera Region is a business hub due to its proximity to other EAC member states. A delegation of 53 business people had been registered for the business exchange tour. However, due to the coronavirus pandemic the tour has been re-scheduled until June or July, this year,” he said.
He appealed to residents on border areas to embrace business opportunities available in their areas.
He said Kagera Region has abundant investment opportunities including tourism along Burigi-Chato National Park, minerals such as gold, tin and the Lake Victoria fishery resources.
According to Mr Mali, the Lake Victoria fishery contributes immensely to the socio-economic development of the riparian states.
“The fisheries are vital in creating employment opportunities, mostly rural-based, thereby helping to reduce rural-urban migration,” he said.
Besides, the fish industry contributes to the national and local government revenues through levying of various taxes, levies and license fees.
The sector has also contributed directly and indirectly to the improvement of physical infrastructure and social facilities, such as roads, schools and hospitals, particularly in remote fishing communities.
Based on current stock estimates, the lake has the potential to yield fish valued at over 800 million US dollars annually on a sustainable basis.
Further processing and marketing the fish in the local and export markets could provide opportunity to generate additional earnings.
Currently, however, only about 500,000 tonnes of fish is landed annually, with an average landing value of approximately 600 million US dollars, he said.