Tiseza, TIB Bank sign MoU to expand business capacity in special economic zones

DAR ES SALAAM: THE Tanzania Investment and Special Economic Zones Authority (TISEZA) and TIB Development Bank have signed a Memorandum of Understanding (MoU) to boost investment promotion, expand business capacity and fast-track development of special economic zones.

The agreement, signed on May 5 in Dar es Salaam, is expected to ease access to financing for investors—spurring growth in industry, trade and job creation within the zones.

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TISEZA Director General Gilead Teri said the deal marks a significant step in attracting investment and improving productivity across key economic activities.

On his part, TIB Development Bank Managing Director Deogratius Kwiyukwa said the bank will work closely with TISEZA to ensure investors access financial services more easily to implement their projects.

The partnership is expected to accelerate the development of special economic zones while strengthening the private sector’s role in driving Tanzania’s economic growth.