Dar es Salaam. Tanzania’s favourable business environment and recent economic reforms have attracted eight investors from Angola, who plan to invest in key sectors such as agriculture, technology, mining, and infrastructure.
Despite over a decade of diplomatic relations between the two nations, only one project has been registered with the Tanzania Investment Centre (TIC).
This situation has led a delegation of Angolan investors to visit the country to explore potential business opportunities.
“Currently, there is only one registered project, but the government has improved investment policies and provided numerous incentives for investors. This is why businesspeople from Angola see the opportunity to invest in Tanzania, expecting the number of projects to increase,” said Mr Felix John, the Investment Promotion Manager at TIC.
On Monday, February 3, Mr John revealed that the delegation consists of senior executives from leading Angolan companies, who have already begun discussions with local entrepreneurs. This highlights Tanzania’s growing potential as an investment destination.
Mr Ariclene Gomes, a board executive of TEGMA-SU LDA, expressed his enthusiasm for the initiative.“We are delighted to be part of this delegation aimed at fostering economic growth. We arrived on Friday and have already held discussions with the Ministry of Foreign Affairs.”
He noted that his company, which specialises in chip manufacturing, sees significant potential in Tanzania’s agriculture and agro-processing industries. Additionally, he mentioned that the Angolan government is actively promoting investment in tourism, and the delegation is eager to learn from their Tanzanian counterparts.
“We are here to collaborate with Tanzanian companies and contribute to economic growth,” Mr Gomes stated.
He further emphasized the need for greater business engagement between the two countries.
“The fact that only one company has been registered with TIC reflects a minimal impact, and we aim to change that. We are prepared to make a significant contribution by investing in tourism, hospitality, construction, and agriculture.,” he said
We appreciate the warm welcome and hope to commence investments within the year.”
With ongoing improvements in Tanzania’s investment climate, officials anticipate that more Angolan businesses will follow suit, fostering stronger economic ties between the two nations.
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Tanzania: Exim to Raise Fund for Mental Health Facilities Upgrades
EXIM Bank to raise 300m/- over the next three years for financing essential services and infrastructure upgrades in mental health facilities.
The bank’s Head of Marketing and Communications Stanley Kafu unveiled this when introducing Exim Bima Festival 2024 as a platform for bringing together individuals, organisations and various sectors for raising the funds.
“Exim’s initiative aligns with the government’s broader goals to ensure that every citizen has access to quality healthcare, including mental health services,” he said.
The initiative, which is one of the events for celebrating the bank’s 27th anniversary is scheduled for Wednesday this week in Dar es Salaam.
Mr Kafu highlights that this year’s festival is not only about raising awareness of the importance of insurance in the society but also focuses on enhancing access to mental health services and improving the overall well-being of the nation.
Statistics from the Ministry of Health shows a staggering 82 per cent increase in mental health cases over the past decade.
Mental cases have risen from 386,358 in 2012 to 2,102,726 in 2021, making the need for mental health services more urgent than ever.
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Unfortunately, the country’s ability to address this growing challenge is hindered by a shortage of mental health professionals, infrastructure, medical equipment and essential medication.
For example, out of the 28 regions in the country, only five have facilities that provide adequate mental health services.
The most affected group is the youth aged 15 to 39, who represent the nation’s workforce, underscoring the need for intensified efforts to safeguard this generation for Tanzania’s future well-being and development.
Mr Kafu said by improving mental health services, Exim aims to contribute to the creation of a network of communities that can access care quickly and affordably.
Exim Insurance Department Manager Tike Mwakyoma said they are appreciating the support from partners in the insurance industry, who have stood by them since the last festival.
“Let’s continue this unity for the development of all Tanzanians and our nation as a whole,” the manager said.
Source: allafrica.com
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