TASHICO seeks private investment to drive partnership, growth

MWANZA: THE Tanzania Shipping Agencies Corporation (TASHICO) has called for increased private-sector investment and partnerships to accelerate its transformation into a commercially viable national shipping company and strengthen Tanzania’s position as a regional maritime and logistics hub.

TASHICO Managing Director Eric Hamissi said the corporation had moved beyond rebuilding its operations and was now focused on turning substantial government investment into improved services, increased revenues and greater operational efficiency.

Speaking in an interview with the Daily News in Mwanza City yesterday, Mr Hamissi said the government had made significant investments in rebuilding TASHICO’s fleet and strengthening its operational capacity, providing a firm foundation for the corporation’s next phase of growth.

“My message is that TASHICO is no longer a company looking backwards; it is a company preparing for the future,” he said.

Mr Hamissi thanked President Dr Samia Suluhu Hassan for what he described as visionary leadership and confidence in TASHICO, as well as recognition of the strategic importance of maritime transport to the national economy.

He, however, said government funding alone would not be sufficient to meet all future investment needs, calling on local and international investors to partner with TASHICO through Public-Private Partnerships (PPPs).

He identified investment opportunities in vessel acquisition and operations, cargo transportation, shipbuilding and repair, port and landing infrastructure, coastal shipping, logistics and tourism.

“TASHICO is ready to work with credible private investors under appropriate PPP arrangements to unlock these opportunities,” he said.

Mr Hamissi said the corporation sought to combine the government’s strategic role, together with TASHICO’s assets and market position, with private-sector capital, technology, expertise and commercial orientation.

He said development partners and investors could also explore opportunities in inland water transport, regional logistics, shipbuilding and repair, cargo transportation, coastal shipping and, eventually, deep-sea operations.

According to him, Tanzania’s geographical location provides a strategic advantage as a link between the Indian Ocean and the Great Lakes region.

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“Our aim is to fully exploit that geographical advantage for the benefit of Tanzania and the wider region,” he said.

Mr Hamissi said strengthening TASHICO would have implications beyond the transport sector through improved trade, employment, regional integration and economic development.

He assured the public that the corporation remained committed to providing safe, reliable and customer-oriented marine transport services while fulfilling its national responsibilities.

“Our ambition is to build a TASHICO that Tanzanians can be proud of as a commercially viable national shipping company that is competitive in the region, trusted by customers and capable of making a meaningful contribution to Tanzania’s transformation into a modern blue-economy and logistics hub,” he said.

He said TASHICO’s future should not be viewed solely in terms of acquiring and operating ships, but also in terms of strengthening connectivity, trade, employment, investment and economic transformation.

“The future of TASHICO is therefore not only about ships. It is about connectivity, trade, jobs, investment and economic transformation,” he said.

Mr Hamissi invited the private sector, development partners and other strategic stakeholders to work with TASHICO to build a stronger and more competitive maritime industry capable of supporting Tanzania’s long-term economic ambitions.