Tanzania seeks bigger share of European capital
HELSINKI: TANZANIA has stepped up efforts to attract European capital, technology and expertise, inviting investors to tap into opportunities in critical minerals, manufacturing and agro-processing as the country strengthens its investment climate and promotes value addition.
Speaking recently at a business and investment meeting in Helsinki, Finland, as part of Tanzania’s ongoing investment mission in Europe, Deputy Minister of State in the President’s Office (Planning and Investment), Dr Pius Chaya said Tanzania is particularly keen to attract investments that transform raw materials into finished and semi-finished products, create jobs and strengthen domestic value chains.
“Tanzania has investment opportunities in agriculture and agro-processing, manufacturing, mining and mineral value addition, energy, infrastructure, tourism, ICT and the digital economy,” Dr Chaya said.
He said the country had steadily improved its business environment while positioning the private sector as a key driver of economic growth.
He underlined the fact that the country under the Tanzania Development Vision 2050 (Dira 2050) seeks to build a competitive, inclusive and sustainable economy driven by private investment, technology and innovation.
For his part, Tanzania Investment and Special Economic Zones Authority’s (TISEZA) Director General, Mr Gilead Teri used the meeting to showcase investment projects and opportunities available to European investors, stressing the government’s focus on productive investment.
“Our focus is not simply to attract capital but to attract investment that adds value to our resources, creates jobs, transfers technology and strengthens Tanzania’s position in regional and global value chains,” Mr Teri said.
Critical minerals featured prominently in the discussions, reflecting growing European interest in securing reliable sources of raw materials required for industry and advanced technologies.
The Tanzanian delegation highlighted opportunities in graphite, nickel, cobalt, niobium and other minerals, covering exploration, extraction, processing and value addition.
Projects presented included Epanko Graphite, Kabanga Nickel, Southern Rukwa Helium and Panda Hill Niobium, offering opportunities for capital investment, technology transfer and commercial partnerships.
Mr Teri said Finnish technology companies could participate through direct investment, joint ventures, technology transfer and partnerships with Tanzanian firms.
“These opportunities provide room for Finnish companies with technology and expertise to invest directly, form partnerships and transfer technology into Tanzania,” he said.
He said TISEZA was ready to guide investors from the initial identification of opportunities through to project implementation.
Mr Teri said the authority’s One Stop Facilitation Centre brings together key investor services and relevant government institutions, helping simplify procedures and facilitate the implementation of projects.
TISEZA also highlighted the Buzwagi Special Economic Zone which is being developed on the former gold-mining site in Kahama, Shinyanga Region.
The zone is expected to support industrial processing and mineral value addition by building on infrastructure already available at the site.
Finland signalled interest in expanding its longstanding relationship with Tanzania into emerging areas of economic cooperation particularly critical minerals and digitalisation.
Finland’s Political Secretary, Mr Pasi Rajala, said the two countries’ relationship, spanning over 60 years, had evolved from development cooperation to broader economic engagement.
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He said emerging areas such as digitalisation and mining offered opportunities to deepen economic cooperation between the two countries.
The Tanzanian delegation’s investment mission in Europe, which began on September 28, is expected to conclude on October 6 this year.
