Tanzania woos investors with reforms

DAR ES SALAAM: TANZANIA yesterday showcased investment opportunities to local and international investors, highlighting reforms that allow investment approvals within 24 hours and provide access to strategic sectors, including energy, manufacturing, tourism and logistics.

The opportunities were presented by officials from the Tanzania Investment and Special Economic Zones Authority (TISEZA) and the Zanzibar Investment Promotion Authority (ZIPA) during the Africa50 General Shareholders’ Meeting and Infra for Africa Forum in Dar es Salaam, where they outlined reforms, strategic projects and incentives aimed at attracting more investment and accelerating industrialisation.

Speaking on behalf of the TISEZA Director General, Acting Head of Planning, Research and Innovation, Mr Gaudence Mmassy said the government has significantly simplified investment procedures through the authority’s One Stop Facilitation Centre, where investors can access services from more than 14 government institutions under one roof.

“Investment certificates, permits and licences can now be processed within 24 hours, eliminating lengthy administrative procedures and reducing the cost of doing business,” he said.

He added, “We value investors’ time. Instead of moving from one office to another seeking approvals, investors can access all the required services in one place and receive timely support,” Mr Mmassy said.

He said the country’s investment climate continues to benefit from stable macroeconomic conditions, with inflation maintained between three and five per cent through prudent fiscal and monetary policies, while adequate foreign exchange reserves continue to support the importation of machinery, raw materials and other production inputs.

Mr Mmassy said Tanzania has also established a legal framework that guarantees investment protection, including the repatriation of profits and capital, while its membership in the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Investment Disputes (ICSID) provides internationally recognised mechanisms for investment protection and dispute resolution.

He said the government is implementing strategic projects, including the Bagamoyo Special Economic Zone, the Liquefied Natural Gas (LNG) project and the Julius Nyerere Hydropower Project, alongside continued investment in roads, railways, airports and ports that have strengthened the country’s position as a gateway to the East African Community (EAC), the Southern African Development Community (SADC) and the African Continental Free Trade Area (AfCFTA).

“Investors operating in Special Economic Zones benefit from fiscal and non-fiscal incentives, including tax exemptions, customs duty relief on capital goods and raw materials, immigration facilitation and guarantees allowing the transfer of profits abroad,” he said.

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He encouraged investors to participate in flagship infrastructure projects through Public-Private Partnership (PPP) arrangements, including Build-Operate-Transfer (BOT) and Build-Own-Operate-Transfer (BOOT), saying investment registrations and capital inflows have continued to increase between 2021 and 2025, reflecting growing confidence in the country’s economy.

ZIPA Director General, Saleh Saadi Mohamed said the Isles continue to position themselves as a competitive investment destination by offering efficient investment services, attractive incentives and a strategic location for regional and international business.

He said like TISEZA, ZIPA operates a One Stop Facilitation Centre where investment approvals can also be completed within 24 hours.

Mr Mohamed said Zanzibar’s economy is growing at 7.1 per cent and provides investors with access to a market of more than 1.54 billion people through the AfCFTA.

“The Isles have registered 640 investment projects worth approximately 7.1 billion US dollars over the past six years, in addition to 25 approved Public-Private Partnership projects valued at about 123 billion US dollars,” he said.

He added, “Zanzibar has identified significant opportunities in offshore oil and gas exploration through 10 exploration blocks covering between 300 and 600 square kilometres, supported by available geological, magnetic and seismic data for prospective investors,”

According to him, the blue economy remains a priority, with six port development projects worth 150 million US dollars currently under implementation and plans to expand investment in the sector to 450 million US dollars within the next three years.

The projects are expected to increase the capacity of Zanzibar’s ports to handle about five million passengers annually, 90,000 TEUs of container traffic, 1.8 million tonnes of general cargo and 300,000 tonnes of petroleum products.

Mr Mohamed said tourism remains Zanzibar’s leading economic sector, contributing about 30 per cent of Gross Domestic Product and generating the largest share of foreign exchange earnings.

He invited participants of the forum, development finance institutions, sovereign wealth funds, pension funds and private investors to partner with Tanzania in financing strategic infrastructure projects, saying stronger collaboration would accelerate industrialisation, expand regional trade and support sustainable economic growth.