Tanzanian envoy challenges investors to exploit opportunities

TANZANIA’s Ambassador to Burundi, Dr Jilly Maleko has encouraged investors and businesspeople in the two countries to fully exploit available opportunities in both sides to boost trade and investments.

The diplomat hinted on some potential areas where the investors and businesspeople can exploit to boost the trade volumes as including mining, ports, aviation, business and transport.

“These opportunities can benefit both, Tanzania and Burundi, as they have been clearly stated by the Joint Permanent Joint Commission. So far, we have already signed nine Memorandums of Understanding (MoUs) in the sectors of mining, energy, agriculture, fisheries, health as well as   Kiswahili teaching in Burundi and French in Tanzania,” Dr Maleko said.

The Tanzanian diplomat to Burundi said this on Wednesday when addressing journalists on the opportunities available in Burundi via virtual conference.

Following development of economic diplomacy, Dr Maleko said the bilateral relationship between the two countries has continued to grow more in trade and investment as well as in infrastructure and transportation.

Expounding on how Tanzania can benefit from the signed MOU in the mining sector, the envoy noted that Burundi has a huge nickel ore deposit of about 200 million tonnes which is located at  Musongati mine that can be extracted for  at least 30 years.

“In Tanzania, we have also Nickel deposit at Kabanga…Kabanga is the largest development-ready nickel sulphide deposit in the world, unmatched in scale and grade, the mine have life span of at least 30 years…we have already found an investor… and we expect to build a refinery plant, so since these mines are on the same stream it is very easy for Burundi to refine their nickel in the country,” Dr Maleko said.

She further added that the refined minerals will be exported through Dar es Salaam Port, something which will increase cargo at the port as well as the national income.

On the business opportunity, Amb Dr Maleko called on cement producers in Tanzania to increase production of the construction materials in order to take advantage of the market in Burundi.

According to her, cement is one of the products that are in great demand in the Burundian market.

In 2021 Burundi imported cement worth 9.5 million US dollars from Tanzania, equivalent to 30 per cent of all cement that Burundi buys from outside, while Burundi imported from Zambia the cement worth 29 million US dollars.

“The cement market in Burundi is huge….the cement producers in Tanzania have to increase production to satisfy the Burundian market because if we  succeed to compete with Zambia we will monopolise the cement market in Burundi since cement from Tanzania is highly needed,” she said.

Hinting on business aspect she noted that more than 50 per cent of the agricultural and industrial products that enter Burundi market from the East African Community (EAC) countries, come from Tanzania.

“According to the statistics unveiled by the United Nations Comtrade (UN Comtrade) in 2022, Tanzania ranked fourth in the list of largest exporters to Burundi, preceded by China, Saudi Arabia, and India,” she added.

She further added that there is a great opportunity for Tanzanian traders to sell their products in Burundi due to the high demand of their products, adding that in 2021, Tanzania’s sales to Burundi reached 90 million US dollars, up from 54 million US dollars in 2015.

She also mentioned the Standard Gauge Railway (SGR) project, which is currently under implementation and is planned to connect Burundi, as another opportunity that the business communities from both nations must prepare themselves to exploit.

The SGR starts from Uvinza (Tanzania) – Musongati and ending at Gitega in Burundi and later connecting to DR Congo.

“The construction of the SGR project will increase the demand of various products, including construction materials and food stuffs, asking Tanzanian suppliers of the products to increase production so that they can fully exploit the unfolding opportunities,” she added.

The envoy further said port services have been improved since the government established the liaison office in Burundi capital under Tanzania Ports Authority (TPA) in 2017.